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Post by ruralres66 on May 23, 2020 9:24:38 GMT
Yes, yesterday after my RYI!
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on May 23, 2020 10:03:53 GMT
got one. I wonder if it's going to result in anything....surely they know by now what is being asked already  |
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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 23, 2020 11:41:57 GMT
Intrigued by one option in Q4 about options to improve RYI experience:
”Ability to accept less than the full value of my investment to release it more quickly”
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Post by danny101 on May 23, 2020 11:49:30 GMT
That concerns me as I hope it doesn't mean someone can jump the queue by paying for it, I can't see how they can implement this without disadvantaging someone in the queue not willing to accept a reduction in there capital. If someone who is willing to accept this is taken out of the queue that's fine but where then will the money come from to pay them.
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Post by erniec on May 23, 2020 11:50:23 GMT
Does that equate to ‘take half now, instead of none later’?
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on May 23, 2020 14:00:32 GMT
I think it would be good old fashioned discounted selling. I'll sell you 100 for 90 you got the full 100 when it pays and i walk with 90 so you make 10 plus interest
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Post by inquiete on May 23, 2020 16:01:01 GMT
It is good that RS are looking at changing their processes. Their practice of relending funds to new borrowers in relation to a customer who has served an RYI is a breach of an implied contract in my opinion.
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Post by honda2ner on May 23, 2020 16:05:06 GMT
I think it would be good old fashioned discounted selling. I'll sell you 100 for 90 you got the full 100 when it pays and i walk with 90 so you make 10 plus interest That would be the most sensible option, open to new investments only so it has no negative impact on any queue position. I might buy a little but would need a hefty discount and if AC ever manage to do something similar that money would be split across both platforms with more in AC than RS only because RS is loss making and AC isn't.
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Post by honda2ner on May 23, 2020 16:15:34 GMT
It is good that RS are looking at changing their processes. Their practice of relending funds to new borrowers in relation to a customer who has served an RYI is a breach of an implied contract in my opinion. RS is better than those platforms that have just shut off repayments completely, most other platforms are doing something similar to RS and the relending is just an illusion because RS has made such a pigs ear of switching from Rolling to Access. Anyway, moaning about platforms not repaying has been discussed to death on this and every other forum so let's leave it at "things could be worse". RS can't do the impossible whether it's in a contract or not.
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Post by shanghaiscouse on May 23, 2020 17:04:18 GMT
me too, took it as a sign to get out ASAP....
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