savernake
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Post by savernake on May 15, 2020 16:20:00 GMT
What a hugely disappointing way to end the week.  Its also the second week running they've delivered less than £4m. Looks like fewer people are choosing to re-invest now. |
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chris1200
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Post by chris1200 on May 15, 2020 18:09:07 GMT
What a hugely disappointing way to end the week. Its also the second week running they've delivered less than £4m. Looks like fewer people are choosing to re-invest now. On the more positive side, this is at least a rather better performance than many on this forum were predicting when interest rates were halved!
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Post by shanghaiscouse on May 15, 2020 19:43:02 GMT
I only have £25488 on loan, nothing in holding nothing pending to be matched. What's the £2603 difference?. Must be an error? This "pending release" figure only appeared yesterday. I had the same thing, the pending release figure appeared yesterday. The difference is caused by withdrawals you have been making and interest earning during the time since you made the RYI request.
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jcb208
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Post by jcb208 on May 15, 2020 19:55:38 GMT
my account is still saying processing ,I know it's not true, wonder how long before it is fixed
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rscal
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Post by rscal on May 16, 2020 12:39:40 GMT
Apologies if this is the wrong thread to post under. AIUI, I could request a RYI, get a quote inclusive of fee and be put into a queue which RS says is at least one month at present. I will continue to earn interest at the 'on going' (post 4th May reduction) rates until I get a release. I'm looking at my 5 year portfolio. Assuming the fee rate reduction goes out to the end of the year at least (8mths @ 50% of 6%) thats about a 2% reduction in average balance while I'll pay 1.5% in the release itself. So it looks marginally beneficial to cash out now and that would remove further uncertainty. But I stress it's a bit marginal.
To the mechanics. AIUI I can only supply one request (but later cancel it - but I don't see myself doing that frankly) and it goes in the queue. Would all funds be fully invested until the RYI is fulfilled? (I would assume it is all-or-nothing release)? Thanks
Can I incur any loss by going into RYI the que with a full market (ex sub £10 loans) withdrawal ? (i.e. have I overlooked some detail of the process) Thanks
Additional question (re. interest) The quote for RYI assumes interest payable on these loans is already knowable even though there is a probable 30 day wait b4 this can take place. Can I safely assume RS will include interest for the additional (unspecified) period and not be bound by the quote on that score. Thanks
This also begs the question of the RYI necessarily excluding the next months normal repayments taking place b4 it can be processed. Thus there would be more sub £10 loans potentially b4 release and for the rest, less capital remaining. Therefore it is advisable to request the 'full amount' or a lesser amount to allow for this leakage of available/needed funds. Thanks
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Post by Badly Drawn Stickman on May 16, 2020 13:14:40 GMT
Apologies if this is the wrong thread to post under. AIUI, I could request a RYI, get a quote inclusive of fee and be put into a queue which RS says is at least one month at present. I will continue to earn interest at the 'on going' (post 4th May reduction) rates until I get a release. I'm looking at my 5 year portfolio. Assuming the fee rate reduction goes out to the end of the year at least (8mths @ 50% of 6%) thats about a 2% reduction in average balance while I'll pay 1.5% in the release itself. So it looks marginally beneficial to cash out now and that would remove further uncertainty. But I stress it's a bit marginal.
To the mechanics. AIUI I can only supply one request (but later cancel it - but I don't see myself doing that frankly) and it goes in the queue. Would all funds be fully invested until the RYI is fulfilled? (I would assume it is all-or-nothing release)? Thanks
I didn't know but was curious. Seems it is possible to set more than one withdrawal from the same account area. I have just set up two small request on the same access account and presumably could have done more. I think I have helped their cancellation figure enough over the last month, so may just leave them for now. Edit. I have left your other questions for others, if nobody offers I will re look at them Edit 2 Just for reference the release number is about 3000 higher than the last one on the current list.
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star dust
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Post by star dust on May 16, 2020 14:03:22 GMT
Apologies if this is the wrong thread to post under. AIUI, I could request a RYI, get a quote inclusive of fee and be put into a queue which RS says is at least one month at present. I will continue to earn interest at the 'on going' (post 4th May reduction) rates until I get a release. I'm looking at my 5 year portfolio. Assuming the fee rate reduction goes out to the end of the year at least (8mths @ 50% of 6%) thats about a 2% reduction in average balance while I'll pay 1.5% in the release itself. So it looks marginally beneficial to cash out now and that would remove further uncertainty. But I stress it's a bit marginal.
To the mechanics. AIUI I can only supply one request (but later cancel it - but I don't see myself doing that frankly) and it goes in the queue. Would all funds be fully invested until the RYI is fulfilled? (I would assume it is all-or-nothing release)? Thanks
Can I incur any loss by going into RYI the que with a full market (ex sub £10 loans) withdrawal ? (i.e. have I overlooked some detail of the process) Thanks
Additional question (re. interest) The quote for RYI assumes interest payable on these loans is already knowable even though there is a probable 30 day wait b4 this can take place. Can I safely assume RS will include interest for the additional (unspecified) period and not be bound by the quote on that score. Thanks
This also begs the question of the RYI necessarily excluding the next months normal repayments taking place b4 it can be processed. Thus there would be more sub £10 loans potentially b4 release and for the rest, less capital remaining. Therefore it is advisable to request the 'full amount' or a lesser amount to allow for this leakage of available/needed funds. Thanks
As far as I am aware you can make as many requests as you like up to the value of your current holding, but it might advise that you can’t make or won’t get much on the last one if you’ve got < £10 loans. On Max I have two requests, one for a specified amount and the second for the entire holding (which will be what’s left after the first and any repayments etc). You can make a request for the full amount and if you have any <£10 loans it will advise what amount you will get back in total and what you can’t sell. You can find out what you can expect from an RYI before hitting the final commit button. Thus, you can ‘play’ about with various requests to see what they say before finalising. And I wouldn’t worry about it flying off and selling anyway you’ll have plenty of time to cancel if you accidentally make a request. As it is taking so long to sell whatever it says about outstanding interest at the time will be overtaken by events and you will get whatever is owed when your sale executes. Whilst you are waiting you will continue getting interest repayments and early repayments as usual and you may end up with a holding less than you have asked for by the time it RYI’s. In my case my holding in the 5 Year market was X I RYI’d for Y where Y<X but at the time it executed my holding was Z and Y>Z so I got the whole lot back. Given the time it took I was slightly concerned about ending up with a few sub £10 unsellables, but fortunately I missed them, I would assume it'll just leave them behind and sell what remains sellable. I don’t have any evidence but I would assume if you had say four RYI’s and your entire sellable holding was out by the execution of the third one the final one would effectively cancel.
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rscal
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Post by rscal on May 18, 2020 9:45:27 GMT
Thanks guys. OK, I have just requested a RYI on 5 yr market and taken screen shot of my quote and now have the amount and reference number showing on my main page. Anything else to consider past this point?
As I opined before, assuming the rate remain cut stays at this point for 8 months I'm incurring 3% pa interest rate drag which effectively nullifies the 1.5% exit fee (not a like for like comparison but you know where I'm going) Main motivation for withdrawal is realisation/crystalisation of proceeds rather sooner than let it drag out. Fortunately I'm am already low in that sense having passively been drawing down since mid 2018 (and that after RYI'ing my entire RM account to just leave the termed accounts) so current balance would be 50% lower by year end anyway.
Thanks
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Post by sebp on May 18, 2020 13:21:25 GMT
All
Back to "queueing" status you in the section "Investments waiting to be released"....
I am anyway surprised given the amount RS said they released last week that no one mentioned any fund released in the access market. Looks like most if not all released funds are going to 1Y and 5Y market...
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chris1200
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Post by chris1200 on May 18, 2020 13:28:49 GMT
All Back to "queueing" status you in the section "Investments waiting to be released".... I am anyway surprised given the amount RS said they released last week that no one mentioned any fund released in the access market. Looks like most if not all released funds are going to 1Y and 5Y market...This has been well rehearsed on this forum. It's also possible that there are just larger requests at some points, so fairly consistent processing is happening, but someone in the queue has a larger than average request (it's entirely possible that several will be in the hundreds of thousands or even higher, meaning that 1 or more days of releases are taken up by a single request). It all just depends on how much money is being invested into each of these markets - this is what is funding our withdrawals.
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Post by freddles91 on May 18, 2020 13:44:35 GMT
(Posted in the other thread and sent here as I'm a noob)
So I'm slightly confused, my release requested on the 04/05/2020
401974 in Access has been mostly released (about 6am on the 18th May) , (22K out of 30K). Well not released but I checked randomly and it was out of loan and back on the market so I managed to cancel it and put a withdraw to my bank request in)
I'm aware I was incredibly far back in the queue so I'm not too sure why, and the loan with that portion of the money wasn't due to mature until next March.
Not that I'm complaining in the slightest.. Does anybody know why I would have had access so soon?
A guy on the other thread said it looked like it could have been an early repayment or a provision fund payment. Is there a way I can check that? Also on the summary page it still says (In small letters immediately beneath the *amount on loan* money) *£30000 pending release) as that was what my initial release request was for, although 22 of it is now no longer on loan and hopefully on its way to me.
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chris1200
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Post by chris1200 on May 18, 2020 13:53:17 GMT
(Posted in the other thread and sent here as I'm a noob) So I'm slightly confused, my release requested on the 04/05/2020 401974 in Access has been mostly released (about 6am on the 18th May) , (22K out of 30K). Well not released but I checked randomly and it was out of loan and back on the market so I managed to cancel it and put a withdraw to my bank request in) I'm aware I was incredibly far back in the queue so I'm not too sure why, and the loan with that portion of the money wasn't due to mature until next March. Not that I'm complaining in the slightest.. Does anybody know why I would have had access so soon? A guy on the other thread said it looked like it could have been an early repayment or a provision fund payment. Is there a way I can check that? Also on the summary page it still says (In small letters immediately beneath the *amount on loan* money) *£30000 pending release) as that was what my initial release request was for, although 22 of it is now no longer on loan and hopefully on its way to me. It really is the only thing this can be because (even if you somehow jumped the queue) your RYI would be showing as processing/processed, but you can see repayments in your transaction history. On your second question - yes, this amount will stay as it originally was at the time of your RYI request but obviously you'll only actually receive an RYI withdrawal for the amount actually still outstanding at that point.
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chris1200
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Post by chris1200 on May 19, 2020 21:03:19 GMT
... which presumably means dennispj has his RYI from Plus? Nope - just logged in. Not received anything. Any idea why this would be? Have they leapfrogged me That is... odd. Is the queue number in the table on the first page definitely correct for you? If it is, are Access, Plus and Max being processed separately? I thought they counted as one market for this process, but...
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Post by dennispj on May 19, 2020 21:09:17 GMT
Nope - just logged in. Not received anything. Any idea why this would be? Have they leapfrogged me That is... odd. Is the queue number in the table on the first page definitely correct for you? If it is, are Access, Plus and Max being processed separately? I thought they counted as one market for this process, but... Yes - "Reference number" is 373786. I thought the same, that they were all one market.
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Post by danny101 on May 19, 2020 21:09:51 GMT
Hi, I was told by ratesetter that there are 3 separate queues within the access, plus and max products,even though they are supposed to be all in 1 market so they could be a bit out of sync.
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