adrian77
Member of DD Central
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Post by adrian77 on Aug 17, 2020 15:29:13 GMT
I agree and am hoping if not praying that you are right!
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iRobot
Member of DD Central
Posts: 1,680
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Post by iRobot on Aug 17, 2020 16:25:49 GMT
I doubt Ratesetter are making much money. Given the unbelievably low figure Metro Bank have paid for Ratesetter I reckon it is pretty likely they were staring down the barrel of insolvency and had no option but to accept whatever they could get for the business. Massive humiliation for Rhydian Lewis and co, regardless of what the PR blurb states.
freefalljunkie Absolutely. From a valuation of £200m in 2017 to being sold for £2.5m cash upfront (most of which would have been eaten up by fees to Lazard who have been working to get RS sold for months) can definitely be put under the column "humiliation". Spare a thought for the corporate investors who have sunk at least £43m into RS over recent years.
Don't get me wrong, I much prefer the lesser evil of RS being taken over than it going into a messy administration. Hopefully the PF will hold up until the legacy Access RYIs are paid out. Given that Metro says it wants to continue to use the RS brand, you would assume that a degree of care will be exerted with regard to maintaining RS' reputation.
I'm sure they will do. For Borrowers. For lenders? Not so much ...
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 17, 2020 16:59:20 GMT
50% of our interest earned since 4th May has been paid into the PF. in that context 100% ?
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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 Aug 17, 2020 17:14:35 GMT
I doubt Ratesetter are making much money. Given the unbelievably low figure Metro Bank have paid for Ratesetter I reckon it is pretty likely they were staring down the barrel of insolvency and had no option but to accept whatever they could get for the business. Massive humiliation for Rhydian Lewis and co, regardless of what the PR blurb states.
freefalljunkie Absolutely. From a valuation of £200m in 2017 to being sold for £2.5m cash upfront (most of which would have been eaten up by fees to Lazard who have been working to get RS sold for months) can definitely be put under the column "humiliation". Spare a thought for the corporate investors who have sunk at least £43m into RS over recent years.
Don't get me wrong, I much prefer the lesser evil of RS being taken over than it going into a messy administration. Hopefully the PF will hold up until the legacy Access RYIs are paid out. Given that Metro says it wants to continue to use the RS brand, you would assume that a degree of care will be exerted with regard to maintaining RS' reputation.
Sorry but raising interest rates would destroy them in the same way all other financial institutions lowered rates. they want credit worth borrowers and those are credit worthy only go for good rates. raising rates means you lend to less credit worthy people and financially place at risk all investors. - sorry but a poor idea.
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Post by scepticalinvestor on Aug 17, 2020 19:03:32 GMT
freefalljunkie Absolutely. From a valuation of £200m in 2017 to being sold for £2.5m cash upfront (most of which would have been eaten up by fees to Lazard who have been working to get RS sold for months) can definitely be put under the column "humiliation". Spare a thought for the corporate investors who have sunk at least £43m into RS over recent years.
Don't get me wrong, I much prefer the lesser evil of RS being taken over than it going into a messy administration. Hopefully the PF will hold up until the legacy Access RYIs are paid out. Given that Metro says it wants to continue to use the RS brand, you would assume that a degree of care will be exerted with regard to maintaining RS' reputation.
Sorry but raising interest rates would destroy them in the same way all other financial institutions lowered rates. they want credit worth borrowers and those are credit worthy only go for good rates. raising rates means you lend to less credit worthy people and financially place at risk all investors. - sorry but a poor idea. Hi beagle , only responding because you appear to have quoted my post. What interest rates? I didn't mention anything about interest rates?
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