coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Sept 21, 2020 10:50:59 GMT
As a former devotee of RS, some decisions taken were clearly not in the interests of investors. Those “particular” decisions have adversely affected the sentiment towards RS. And many of those poor decisions that caused just as much damage (terminal as it has turned out) to their business as to their investors pre-date Covid by a long way.
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Greenwood2
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Post by Greenwood2 on Sept 21, 2020 10:53:50 GMT
Not true. As a RS lover please explain why there are so many RYI's if RS are such a fab company? Could it maybe be a result of the company's actions? As a neutral I'm going to start with Coronavirus and some investors determining the potential for economic shock and looking to move to cash/mitigate risk. That inevitably raised liquidity concerns and so on. Many of RS actions stem from that ie probably consequence rather than cause. Could also be due to Metro saying RS were not going to continue lending. Not much incentive to stay after that, and quite an incentive to get out while the goings good.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Sept 21, 2020 10:57:50 GMT
the company was nearly profitable. look around and notice covid brought the world to it's knees not just RS. What utter nonsense. well pal it's true. it was nearly profitable which city analysts stated in Feb. In case you hadn't noticed covid brought the world to it's knees. however, perhaps you are busy pretending to be a cat and do not see what is clear as day.
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Post by bernythedolt on Sept 21, 2020 11:15:25 GMT
well pal it's true. it was nearly profitable which city analysts stated in Feb. In case you hadn't noticed covid brought the world to it's knees. however, perhaps you are busy pretending to be a cat and do not see what is clear as day. Remember a beagle only sees everything in black and white though.
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coogaruk
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Post by coogaruk on Sept 21, 2020 11:19:47 GMT
it was nearly profitable which city analysts stated in Feb. City analysts, eh? (there's a clue in the name there somewhere)
Ratesetter's own accounts suggest otherwise. Take a look, you might actually learn something.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Sept 21, 2020 11:34:29 GMT
well pal it's true. it was nearly profitable which city analysts stated in Feb. In case you hadn't noticed covid brought the world to it's knees. however, perhaps you are busy pretending to be a cat and do not see what is clear as day. Remember a beagle only sees everything in black and white though. true mate money is black and white though
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Sept 21, 2020 11:59:38 GMT
money is black and white though Only in your world.
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Post by shanghaiscouse on Sept 21, 2020 13:45:07 GMT
OK, this so-called neat trick does not work for me, I have an access account and have for many months now had it set on +5% (i.e. the max) and it barely returns anything, almost everything gets reinvested. If you ask me its a bit of a crappy trick.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Sept 21, 2020 14:30:34 GMT
OK, this so-called neat trick does not work for me, I have an access account and have for many months now had it set on +5% (i.e. the max) and it barely returns anything, almost everything gets reinvested. If you ask me its a bit of a crappy trick. I don't think it works with Access (or Plus or Max I believe) as repayments are automatically reinvested for the duration of the orignal loan contract. Then your +5% will kick in.
Other trickery is available to release money from access but someone else will need to explain that as I'm not clever enough. Timing is the main issue I think, you have to be quick.
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Post by shanghaiscouse on Sept 21, 2020 15:03:43 GMT
Well yes I have spent hours of my life checking the website at 7:15am every day to release measly sums (today it was £8 but once I have gone through all the hassle of logging in then I may as well take whatever is there), it is way too high maintenance. I don't think there is anything else we can do on Access. Although the queue is at least moving now that they have stopped (lucrative, fee-bearing) RYIs on the five year. Hmmm, wonder why they prioritised 5 year for RYI?
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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 Sept 21, 2020 15:09:59 GMT
Well yes I have spent hours of my life checking the website at 7:15am every day to release measly sums (today it was £8 but once I have gone through all the hassle of logging in then I may as well take whatever is there), it is way too high maintenance. I don't think there is anything else we can do on Access. Although the queue is at least moving now that they have stopped (lucrative, fee-bearing) RYIs on the five year. Hmmm, wonder why they prioritised 5 year for RYI? I've been using the trick for exactly 6 months today. I have got approx 1/3 of my investment back, much as someone predicted months ago. From the RYI chart you have 3k in access. Very approximately £8 x 5 days x 26 weeks = £1040, so you've got about the same fraction back. I'd say you're on track!
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Greenwood2
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Post by Greenwood2 on Sept 21, 2020 15:48:08 GMT
Well yes I have spent hours of my life checking the website at 7:15am every day to release measly sums (today it was £8 but once I have gone through all the hassle of logging in then I may as well take whatever is there), it is way too high maintenance. I don't think there is anything else we can do on Access. Although the queue is at least moving now that they have stopped (lucrative, fee-bearing) RYIs on the five year. Hmmm, wonder why they prioritised 5 year for RYI? I've been using the trick for exactly 6 months today. I have got approx 1/3 of my investment back, much as someone predicted months ago. From the RYI chart you have 3k in access. Very approximately £8 x 5 days x 26 weeks = £1040, so you've got about the same fraction back. I'd say you're on track! This has been discussed quite a few times. There are 'real' repayments and rollovers those that you see fleetingly are loans rolling over, not repayments and you're stuck in those until a 'real' repayment. if it's a real repayment it shouldn't be relent unless borrowing rates are really high. It seems to be a quirk of the system that you see the rollovers at all, probably a hangover from the rolling market days. I'm not sure but possibly all the loans roll over every month so you probably see lots of these if you're looking carefully.
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coogaruk
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Post by coogaruk on Sept 21, 2020 16:11:22 GMT
I've been using the trick for exactly 6 months today. I have got approx 1/3 of my investment back, much as someone predicted months ago. From the RYI chart you have 3k in access. Very approximately £8 x 5 days x 26 weeks = £1040, so you've got about the same fraction back. I'd say you're on track! This has been discussed quite a few times. There are 'real' repayments and rollovers those that you see fleetingly are loans rolling over, not repayments and you're stuck in those until a 'real' repayment. if it's a real repayment it shouldn't be relent unless borrowing rates are really high. It seems to be a quirk of the system that you see the rollovers at all, probably a hangover from the rolling market days. I'm not sure but possibly all the loans roll over every month so you probably see lots of these if you're looking carefully. Don't confuse monthly repayments with the final repayment on a loan. It is the former that I was referring to as continuing to 'roll over' (reinvest).
The way things are going - especially in light of today's announcement from NS&I - I reckon that even RS Access will outperform cash savings over the medium term.
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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 Sept 21, 2020 16:30:50 GMT
There are 'real' repayments and rollovers those that you see fleetingly are loans rolling over, not repayments and you're stuck in those until a 'real' repayment. I used to see the fleeting rollovers all the time, but now I realise I haven't seen one for months ? Maybe it's just my timing.
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littleoldlady
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Post by littleoldlady on Sept 21, 2020 16:41:31 GMT
Just for clarity, setting your required rate to the max only prevents interest, amortising payments and end-of-loan full repayments from being used to buy loans from those at the front of the RYIQ. Most of the "repayments" that you see are immediately lent out again to the same loan because it has not (fully) repaid. You will not get all your money out until either the last loan you hold repays at term or you reach the front of the RYIQ and sell your loans to some sucker who does not realise what is happening and has not set his rate to max thinking that RYI was the way to get out.
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