robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Jun 19, 2020 9:49:27 GMT
You can only set repaid capital and repaid interest to reinvest at 8% (access) or your chosen rate. Everything else is locked in and you cannot take it out and it gets automatically reinvested, ironically with a name like Ratesetter, you would think you would have more choice, but no. So if there is an amortising loan that is say, £120 over 40 months, you would get approximately £3 of capital paid back monthly which goes into your holding account and can be removed but will be reinvested if you haven't set your reinvestment rate high enough. Sometimes loans are repaid early by the borrower in which case you get the full amount into your holding account and you can withdraw to your bank account. Be aware that RS automatically puts money back onto the market so you need to manually cancel it as it will get picked up if you haven't changed your reinvestment settings. Thanks! That was indeed my understanding, but it sounded like people were suggesting otherwise on here... I am often able to get money out even before contracts are repaid (as per Money On Loan section), so there is probably a lag within which money can be withdrawn before it is reinvested, by canceling pending orders. Only for the interest and repaid capital amount, you can't cancel a reforming contract for the outstanding amount
|
|
|
Post by saintpeter on Jun 19, 2020 15:08:48 GMT
Thanks! That was indeed my understanding, but it sounded like people were suggesting otherwise on here... I am often able to get money out even before contracts are repaid (as per Money On Loan section), so there is probably a lag within which money can be withdrawn before it is reinvested, by canceling pending orders. Only for the interest and repaid capital amount, you can't cancel a reforming contract for the outstanding amountThis ^. Sometimes it is deceptive and looks like there is more money that can be cancelled on the market than is actually available because even if money is on the market, if it is the core of the loan (not the capital repayment or interest) then it will still automatically catch at the locked in rate. RS platform is very confusing because it looks like each loan renews each month but actually this is a bit deceptive, you (the investor) does not have the ability to change the rate of the whole loan so it is basically a long term loan which you can only extract the repaid capital + interest per month. The whole "contract" element that you see when you log in must be more for RS benefit as once again, RS seems to now basically be a long term loan platform which investors are locked into. You cannot really set the rate in any useful way, and the irony of calling one of their products "access" when many will be waiting months, perhaps years for payout requests makes a mockery of this.
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Jul 9, 2020 12:08:08 GMT
Another withdrawal made today. That'll make 25% of my original capital repatriated or 18.1% of portfolio value at commencement of wind down.
Apologies if I'm boring you with these updates.
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Sept 4, 2020 17:37:43 GMT
Time for another boring update, methinks (you may not agree).
Another withdrawal made today. That's 50% of my total capital investment returned in a little over 3 months. I reckon that's pretty good going!
(36% of my portfolio's total at today's value including all withdrawals)
|
|
macq
Member of DD Central
Posts: 1,924
Likes: 1,192
|
Post by macq on Sept 4, 2020 19:39:46 GMT
Time for another boring update, methinks (you may not agree).
Another withdrawal made today. That's 50% of my total capital investment returned in a little over 3 months. I reckon that's pretty good going!
(36% of my portfolio's total at today's value including all withdrawals)
As its nearly 2 months since the last post/update maybe it was time to start a new thread
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Oct 18, 2020 10:29:17 GMT
What better way to spend my 500th post than with another exciting boring update on my wind down progress? Seeing as I know how much you all look forward to them!
67% of my total capital investment has now been returned since the end of May (48% of my portfolio's total at today's value including all withdrawals)
All from borrower repayments, no RYIs.
Well, it was looking like a slow news day
|
|
johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Oct 22, 2020 9:45:55 GMT
I've had 36% of my capital returned since March (repayments have slowed right down of late) and I've calculated that my RYI should be actioned around Jan-Feb next year, if not before if the recent RYI progress keeps up.
|
|
|
Post by ruralres66 on Oct 22, 2020 15:49:34 GMT
I have successfully reduced my exposure. Thanks to all and thanks to RS for getting there!
To be clear- I was only in 1 yr and (5 yr modestly).
I was ok with these markets and security backed loans in property.
Since I am where I hoped to be with 100 withdrawal and related interest I tried a little experiment today with a loan and then modest RYI.
£10.00 1 Year Queueing 22/10/2020 432400 Requests in front of you 262
I think the above tells and interesting story, Only 262 in queue at point of RYI!
|
|
|
Post by gricehead on Oct 22, 2020 15:54:38 GMT
I've recovered just over 80% of my capital, mainly due to natural winding down of one-year loans.
I'm now at the point where > 50% of my remaining investment is in Access, so things will slow down significantly.
I've not made RYIs in any market I am in (Access, one-year, five-year)
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Dec 10, 2020 17:44:28 GMT
I've recovered just over 80% of my capital, mainly due to natural winding down of one-year loans. I'm now at the point where > 50% of my remaining investment is in Access, so things will slow down significantly. I've not made RYIs in any market I am in (Access, one-year, five-year) I'm in a very similar positon to yourself. With today's withdrawal I will have got back 83.3% of my capital investment.
No RYIs and am in the same markets as you too!
|
|
|
Post by gricehead on Dec 18, 2020 16:20:51 GMT
Well after that fun-filled week I'm now up to 98% capital returned.
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Dec 18, 2020 18:20:20 GMT
Well after that fun-filled week I'm now up to 98% capital returned. 97% for me (91.5% withdrawn to bank plus 5.5% currently retained in my Holding Account)
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Jan 18, 2021 13:06:28 GMT
100% capital out for me as from today. So excited I even created a new thread to boast about it. I know you like my new threads.
|
|