RateSetter and Metro Bank

Is 'AC' a typo for 'RS', or am I missing something? Also, where on the website is this info? Would be interested to see a more detailed breakdown given that things appear to have varied quite a bit over the last three months. Although, I suppose this doesn't tell us how much of each lending category was 'obligated' lending in any case...

Okay, let's try to find some agreement here.

My point is that the queues weren't moving, right? Like, really barely at all. We all seemed to agree this was basically because new lending seemed to increase quite significantly compared to the massive drop when all this mess started. But then, quite recently, new lending seems to have decreased and the RYI queue is moving very strongly again. My guess (and it's only a guess) is because RS was already pre-emptively decreasing new lending ahead of this announcement. That pattern will now continue and, potentially, speed up even more.

I don't know what you mean by 'new lending is nominal'. As I stated above, it doesn't take much to make a major difference to the RYI queue. What else do you propose is behind the recent dramatic speed-up in RYI processing for A/P/M and 1 Year all of a sudden?

Edit: It's also worth noting, of course, that lending 'obligations' will almost certainly gradually decrease over time such that more and more of the re-investment funds go to RYI processing. These obligated lending isn't just going to stay static in terms of amount.

Thanks! Where on this page does it say that property lending has only been existing loans?

Thanks - that’s helpful to know. To be honest, what I’d be most interested in knowing is the extent to which that ‘personal’ category actually increased for the period when RYIs ground to a halt.

Anyway - I didn’t mean to get into a debate about this, really. Was just responding to the notion that RS has ONLY been doing obligated lending this whole time, which is patently untrue (even if it’s been the vast majority). I’m lucky that I should be out of A/P/M within the next few days, so I’ll be shutting up.

My point was more that these are figures for the last three months (or, likely, Jun-Aug). But there was a period of a few weeks from mid-July when new lending went up and RYIs ground to a halt. I wonder if - for these weeks at least - personal lending actually increased up to something more like 10%. Absent this deal, that could have continued or even increased. But, instead, that 10% going to RYIs instead really is a big difference, considering that A/P/M seemed to be getting maybe only a few hundred thousand every week (given that 10% of lending at that time would be c.£3m/month).

Edit: Actually, if it’s like the stats page, it could be for May-Jul. In which case it really wouldn’t take much account of the period I’m talking about in the three-month average.