aju
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Post by aju on May 25, 2020 23:15:40 GMT
Is it me or have I missed something I can reinvest capital and interest from the 1&5 year to holding. Has that always been the case?.
I can't seem to reinvest Access to anything else - has that always been the case or has that changed as well too. I have those set to reinvest @8%.
I do have all my products that have money in them in the sell queue too but thats probably not going to start for another couple of months - already been in there for nearly a month so far no sniffs.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on May 26, 2020 6:35:03 GMT
1 and 5 always the case and you can change this up if you like.
Access also the case but you can't change it
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aju
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Post by aju on May 26, 2020 9:13:26 GMT
1 and 5 always the case and you can change this up if you like. Access also the case but you can't change it thx. I have moved everything I can to holding at least I only have to actively monitor funds coming back into Access now.
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
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Post by bt on May 26, 2020 9:27:54 GMT
Its interesting that this morning I had substanyial funds in my ACCESS account that had not been put on the market (at 8%). New RS policy? Same here. Also quite a few payments due have not gone through yet.
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aju
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Post by aju on May 26, 2020 11:10:44 GMT
The current weekly volume starting from Sun 24th is just under £179,000. Looking at Access Market that would potentially reach 4.9% if only Access were lending. That is lending volume for the 3 days so far. Perhaps RS is a lagging behind since the long weekend. Whilst I would have expected returned Access funds to have been applied maybe the process that does this has not as yet run. It will and you can be rest assured it won;t reach 8% so if you forget it will still be there - I think. Note: the link above only working if you are logged in then you also need to tick the weekly volume and also set the month span to a single month to see the volumes for this week easily. |
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coogaruk
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Post by coogaruk on May 26, 2020 11:38:59 GMT
Its interesting that this morning I had substanyial funds in my ACCESS account that had not been put on the market (at 8%). New RS policy? Same here. Also quite a few payments due have not gone through yet. That'll be due to the usual delays in processing following a weekend, compounded by yesterday being a Bank Holiday. Nothing to worry about.
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Post by inquiete on May 26, 2020 13:24:22 GMT
Is there a best time of the day to logon to the RS accounts in order to withdraw holding account/on market amounts?
I am less convinced that these moneys are not reinvested - even at 8% (now 4% of course). I sometimes leave a few pounds on my holding account to monitor if it is reinvested, and regularly find that it has disappeared (ie been reinvested) later in the day.
I was pleased to see RS asking in their survey whether their customers would like the option of leaving Access/Plus/Max repayments in their holding account. I have complained to them about the fact that this is not currently possible.
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aju
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Post by aju on May 26, 2020 15:33:34 GMT
Is there a best time of the day to logon to the RS accounts in order to withdraw holding account/on market amounts?
I am less convinced that these moneys are not reinvested - even at 8% (now 4% of course). I sometimes leave a few pounds on my holding account to monitor if it is reinvested, and regularly find that it has disappeared (ie been reinvested) later in the day. I was pleased to see RS asking in their survey whether their customers would like the option of leaving Access/Plus/Max repayments in their holding account. I have complained to them about the fact that this is not currently possible. Not really but day after weekends and holidays etc can be delayed quite a bit. One thing I tend to do is look at my repayments schedules so that technically there will be days I do not need to log in. Thing is the current scramble for exit means there could be chance that 8% may be reached. If Rs really is being honest about 9/10 people stopping their request for exit then perhaps and couple that with the amount of returned money being from lenders who are not setting there own rates then the wall on each cycle will probably still mean that 8% will not be reached. That said it is a Cwap shoot I guess. In our case we had all our returns set at highest amount that could be set and not one of them has been picked up, Yet!. I do tend to know when large sums are coming in by checking the monthly repayments data - of course one cannot factor in premature loan closures though. In my case it takes a couple of minutes to check if any new money has arrived that needs to be withdrawn to holding (cancelled). This covers most premature loan closures. At the same time its relatively easy to check if any money is due today - If it is but has not yet appeared then check later say - you could also quickly check the headroom levels too using the Market Data | View Full Market options to see what headroom there might be in any given product to be comfortable with the days lending rates. That's what i do I guess its a case of how detailed you want to get though.
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Post by inquiete on May 26, 2020 16:03:13 GMT
HI Aju
One follow up question - how do i monitor in advance the repayments that are due to be received?
Many thanks
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k6
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Post by k6 on May 26, 2020 19:24:14 GMT
HI Aju One follow up question - how do i monitor in advance the repayments that are due to be received? Many thanks If you navigate to your Money On Loan and then Existing Contracts you will be able to see next repayment. If that's what U after.
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aju
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Post by aju on May 27, 2020 0:07:14 GMT
HI Aju One follow up question - how do i monitor in advance the repayments that are due to be received? Many thanks Easiest way is to go to My Account - "Your portfolio" section 2nd usually or 3rd if you are selling products Click on Total item ( direct link if logged in) In "Your money on loan" screen, go down to second section "Repayments by month" change month and year accordingly although it usually set to the current month. Tick/untick the items you want to focus on and then click View button. You should then be able to see the paid items normal text and pending items in italics. Access items will not be available for removal - I usually untick them. Hope that helps
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Post by comet1 on May 28, 2020 13:46:17 GMT
Apologies if this has already been answered somewhere, but please could someone explain in practical terms how (if at all) I can "catch" repayments before they are reinvested. Is it simply a case of logging in and withdrawing funds that appear in my 'on market' balance to my holding account? Or do I physically need to "cancel" reinvestments somehow? If the later, how is this done?
I have an access account. I have my reinvestment settings set at 8%. I understand (I think) the principle that the underlying loans are rolling month to month on the basis of my initial chosen rate, so it is just the amortised capital repayments that can be caught rather than interest repayments. Just want to know how this is done in practice.
Thanks in advance for any help.
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star dust
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Post by star dust on May 28, 2020 14:08:37 GMT
You can either cancel the individual orders in the access market that you can see and <Edit> on the summary page when you are logged in
or you can simply withdraw the total amount (including that on the market) and they will automatically get cancelled and withdrawn to your bank account. This page when logged in
In my experience leaving any cancelled orders in your holding account occasionally results in a part of them being put back onto the market the following day - however, I just re-cancel. I'm logging in daily and withdrawing once there's a reasonable lump on account.
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steve11523
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Post by steve11523 on Jul 7, 2020 8:17:31 GMT
Is there any way to get Max repayments to go into the holding account? How can I withdraw over time the balance in my Max without paying early settlement fees?
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robski
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Post by robski on Jul 7, 2020 9:30:11 GMT
Is there any way to get Max repayments to go into the holding account? How can I withdraw over time the balance in my Max without paying early settlement fees? Not directly You need to set your rate to the maximum you can, this will almost certainly mean you no longer get any matches, then as monies go back onto the market you need to cancel them this will return your fund to holding You cannot stop the rolling part of the max loans though (ie the bit that remains matched to the borrower)
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