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Post by rl on May 7, 2020 19:26:30 GMT
Hi all,
Newbie here, apologies if this has been covered before but I couldn’t find anything. Has anyone worked out a way to estimate future monthly income from your personal loan book?
As I imagine many of us are, I’m waiting for my RYIs to come through, and am sending any repayments from the 5 year market straight to my holding account for withdrawal. For Access / Plus / Max, I understand that as each repayment comes in the majority of it automatically rolls over into the next month of that loan, which I can’t do anything about. However there is a small portion (interest plus a bit of capital) which I can channel into my holding account by setting a high reinvestment rate and then manually cancelling the subsequent lend order.
What I’d like to do is get a rough idea of what I can expect back each month in this way while I’m waiting months for my RYIs. I know how to see each loan and its future payment schedule, but 1) this involves examining each loan individually (I have over 400 loans out), and 2) perhaps more importantly, I can’t see a way of working out what proportion of each repayment will automatically roll over vs what will be available to come back to my holding account.
Any bright ideas?
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Post by df on May 7, 2020 19:50:51 GMT
Hi all, Newbie here, apologies if this has been covered before but I couldn’t find anything. Has anyone worked out a way to estimate future monthly income from your personal loan book? As I imagine many of us are, I’m waiting for my RYIs to come through, and am sending any repayments from the 5 year market straight to my holding account for withdrawal. For Access / Plus / Max, I understand that as each repayment comes in the majority of it automatically rolls over into the next month of that loan, which I can’t do anything about. However there is a small portion (interest plus a bit of capital) which I can channel into my holding account by setting a high reinvestment rate and then manually cancelling the subsequent lend order. What I’d like to do is get a rough idea of what I can expect back each month in this way while I’m waiting months for my RYIs. I know how to see each loan and its future payment schedule, but 1) this involves examining each loan individually (I have over 400 loans out), and 2) perhaps more importantly, I can’t see a way of working out what proportion of each repayment will automatically roll over vs what will be available to come back to my holding account. Any bright ideas? For a rough idea - "your portfolio" section gives you the summary of your current rate, divide it by 2 and then by 12. This should be your current expected monthly interest. Most of your repayments will roll over until the end of term, but some might be repaid earlier.
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Post by diversifier on May 8, 2020 17:04:18 GMT
Hi all, Newbie here, apologies if this has been covered before but I couldn’t find anything. Has anyone worked out a way to estimate future monthly income from your personal loan book? As I imagine many of us are, I’m waiting for my RYIs to come through, and am sending any repayments from the 5 year market straight to my holding account for withdrawal. For Access / Plus / Max, I understand that as each repayment comes in the majority of it automatically rolls over into the next month of that loan, which I can’t do anything about. However there is a small portion (interest plus a bit of capital) which I can channel into my holding account by setting a high reinvestment rate and then manually cancelling the subsequent lend order. What I’d like to do is get a rough idea of what I can expect back each month in this way while I’m waiting months for my RYIs. I know how to see each loan and its future payment schedule, but 1) this involves examining each loan individually (I have over 400 loans out), and 2) perhaps more importantly, I can’t see a way of working out what proportion of each repayment will automatically roll over vs what will be available to come back to my holding account. Any bright ideas? For a rough idea - "your portfolio" section gives you the summary of your current rate, divide it by 2 and then by 12. This should be your current expected monthly interest. Most of your repayments will roll over until the end of term, but some might be repaid earlier. I’ve done it historically: go to Transaction History, and select transaction type Repayments for last month. Export as a CSV file, and sum up the column in Excel. It seemed to match what I was able to Withdraw over the month, as logged by Transaction History -> Withdrawals.
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Post by rl on May 9, 2020 7:47:05 GMT
Great, thanks folks!
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Post by gsmith on May 9, 2020 8:30:31 GMT
Go to
"https://members.ratesetter.com/your_lending/money_on_loan/onloan_summary.aspx"
At the bottom of the screen is a repayments by month section. You can select any past or future month from dropdowns (month and year) and it will tell you the capital repayment and interest for that month. The future interest forecast does not take account of the fact that half of interest now goes to the provision fund. It doesn't assume any reinvestment of capital in the forecast
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
Posts: 129
Likes: 53
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Post by bt on May 9, 2020 9:53:43 GMT
Go to
"https://members.ratesetter.com/your_lending/money_on_loan/onloan_summary.aspx"
At the bottom of the screen is a repayments by month section. You can select any past or future month from dropdowns (month and year) and it will tell you the capital repayment and interest for that month. The future interest forecast does not take account of the fact that half of interest now goes to the provision fund. It doesn't assume any reinvestment of capital in the forecast
Doesn’t that show the total capital remaining to be repaid, not that month’s capital repayment?
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Post by rl on May 9, 2020 9:55:16 GMT
gsmith, you're a genius, thanks! That's exactly the page I was looking for. I can't quite work out how to navigate there myself from the home screen, but copying your link works great.
For any others who use this, a couple of points to note:
1) For the 5 year market, this will give you what you can expect to hang onto if you're pulling everything back to your holding account. I would assume it's the same for the 1 year, but sadly I don't have that product.
2) For Access / Plus / Max, it's not so easy. This will show what comes back in each month, but as we know most of that is automatically relent, which we have no control over. I'm trying to work out an average figure for what proportion is left over for which we can then set our own rate / withdraw. Obviously depends on interest rate and individual loan terms remaining, but a rough 2-3% looks about right from my quick and dirty calcs. Any more accurate figures would be most welcome!
3) For Access / Plus / Max, for some reason this also only summarises your 'existing' contracts, not your 'new' ones. Quite why is beyond me.
Thanks again for all help..
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Post by Deleted on May 9, 2020 11:00:29 GMT
I can't quite work out how to navigate there myself from the home screen, but copying your link works great. From the Your Lending screen, click on Total in the Your portfolio section.
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
Posts: 129
Likes: 53
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Post by bt on May 9, 2020 11:03:22 GMT
gsmith, you're a genius, thanks! That's exactly the page I was looking for. I can't quite work out how to navigate there myself from the home screen, but copying your link works great. I knew I’d seen this page before. Figured out how to get there now. In “my account” scroll down to “your portfolio” and click on “total”
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Post by shanghaiscouse on May 10, 2020 10:58:25 GMT
Hi all, Newbie here, apologies if this has been covered before but I couldn’t find anything. Has anyone worked out a way to estimate future monthly income from your personal loan book? As I imagine many of us are, I’m waiting for my RYIs to come through, and am sending any repayments from the 5 year market straight to my holding account for withdrawal. For Access / Plus / Max, I understand that as each repayment comes in the majority of it automatically rolls over into the next month of that loan, which I can’t do anything about. However there is a small portion (interest plus a bit of capital) which I can channel into my holding account by setting a high reinvestment rate and then manually cancelling the subsequent lend order. What I’d like to do is get a rough idea of what I can expect back each month in this way while I’m waiting months for my RYIs. I know how to see each loan and its future payment schedule, but 1) this involves examining each loan individually (I have over 400 loans out), and 2) perhaps more importantly, I can’t see a way of working out what proportion of each repayment will automatically roll over vs what will be available to come back to my holding account. Any bright ideas? Dear Newbie, at this point in time, it is impossible to calculate an income stream with any sort of confidence. Why? Because the provision fund will have to be constantly topped up to cushion against the defaults. At the moment they have take a first step (and too late IMHO) to cut interest by 50%. But this is not anywhere near enough, and the next step will be to cut it to zero. Then, according to the T&Cs, they can start going into your capital to buffer the fund. There is only one thing with any certainty, for anyone making new investments in last couple of months you are almost definitely going to lose money. Its just that the provision fund delays the impact.
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