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Post by bikeman on Jan 14, 2021 13:39:32 GMT
A while back I wacked up my reinvestment rate and requested withdrawal. For several months I languished around 15,000 in the queue and around half my investment was returned as borrowers made repayments.
In December, still around 14,00 in the queue, I figured my remaining investment was low enough and cancelled my withdrawal request.
A couple of weeks ago I changed my mind and requested to withdraw the remainder. I was now around 7000 in the queue. Last week I was 4000. Today my withdrawal came through.
So the withdrawal queue is now pretty quick and with nowhere else to put my RS investment I'm tempted to put it all right back in. What's the smart money's thinking?
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Post by Ace on Jan 14, 2021 14:21:01 GMT
RUN!!!!
Personally I see Loanpad as a lower risk with a higher return and better security.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
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Post by littleoldlady on Jan 14, 2021 15:36:34 GMT
I don't know what the smart money is thinking but this is my take. RS sold off its secured portfolio and used the cash to repay the RYIQ. That leaves the unsecured portfolio to face a tsunami of redundancies.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Jan 14, 2021 15:48:40 GMT
Ratesetter don't want private client investing- they have been clear about this- Metro want the borrowers not the lenders. They have behaved well in clearing out all the queues- having been given the opportunity to get out, I think it would be almost perverse to go back in , when risk is not clear, when rates are low (and are not close to compensating for risk), and when you are not particularly wanted. We are all delighted to have got out with out a hair-cut- not sure why I would want to rush back to get a possible short-back-and-sides.
I have stuck chunks of money in passive equity funds- can now sleep at night.
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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 Jan 14, 2021 16:56:28 GMT
A while back I wacked up my reinvestment rate and requested withdrawal. For several months I languished around 15,000 in the queue and around half my investment was returned as borrowers made repayments. In December, still around 14,00 in the queue, I figured my remaining investment was low enough and cancelled my withdrawal request. A couple of weeks ago I changed my mind and requested to withdraw the remainder. I was now around 7000 in the queue. Last week I was 4000. Today my withdrawal came through. So the withdrawal queue is now pretty quick and with nowhere else to put my RS investment I'm tempted to put it all right back in. What's the smart money's thinking? why play russian roulette twice with your money. whatever reason you chose to leave with to start with you should stand by. If you can not hold that nerve then you should (in my opinion, no offense intended) consider what you are doing with your money. the investor side is over. do not get involved with a more toxic loan group, whatever the ratio may be. Someone will end up stuck unless they sell more loans off.
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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 Jan 14, 2021 16:56:51 GMT
Ratesetter don't want private client investing- they have been clear about this- Metro want the borrowers not the lenders. They have behaved well in clearing out all the queues- having been given the opportunity to get out, I think it would be almost perverse to go back in , when risk is not clear, when rates are low (and are not close to compensating for risk), and when you are not particularly wanted. We are all delighted to have got out with out a hair-cut- not sure why I would want to rush back to get a possible short-back-and-sides. I have stuck chunks of money in passive equity funds- can now sleep at night. Exactly as tjtl says.
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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 Jan 14, 2021 16:58:20 GMT
I don't know what the smart money is thinking but this is my take. RS sold off its secured portfolio and used the cash to repay the RYIQ. That leaves the unsecured portfolio to face a tsunami of redundancies. before that happens Rishi will roll out a new program. I am starting to suspect we will keep moving the posts until we are vaccinated to the point we need a new vaccine to sort out the old one
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Post by bikeman on Jan 14, 2021 22:01:54 GMT
I forgot to add that I still have a sizeable chuck in the 5 year at 5.4% (albeit 50% off). So the concensus is to pull it out?
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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 Jan 14, 2021 22:22:01 GMT
depends on maturing date
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Post by Badly Drawn Stickman on Jan 14, 2021 22:32:22 GMT
I forgot to add that I still have a sizeable chuck in the 5 year at 5.4% (albeit 50% off). So the concensus is to pull it out? Start a withdrawal request on it and look at the fees you will be charged (this does not commit you), tends to focus the mind in decision making. Always a personal judgement call at the end of the day.
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Post by bikeman on Jan 14, 2021 22:48:31 GMT
I forgot to add that I still have a sizeable chuck in the 5 year at 5.4% (albeit 50% off). So the concensus is to pull it out? Start a withdrawal request on it and look at the fees you will be charged (this does not commit you), tends to focus the mind in decision making. Always a personal judgement call at the end of the day. Ahead of you, did just so 1/2 hour ago, only 1 ahead of me. Immediately tried to cancel but too late, £250 lighter and money in holding account. Oh well. Probably the right thing anyway as I was always concerned that most of it was in a single loan with 4 years left to run.
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Post by Badly Drawn Stickman on Jan 14, 2021 22:55:41 GMT
Start a withdrawal request on it and look at the fees you will be charged (this does not commit you), tends to focus the mind in decision making. Always a personal judgement call at the end of the day. Ahead of you, did just so 1/2 hour ago, only 1 ahead of me. Immediately tried to cancel but too late, £250 lighter and money in holding account. Oh well. Probably the right thing anyway as I was always concerned that most of it was in a single loan with 4 years left to run. You must have got a bit trigger happy, it gives you a quote first and you need to accept to sell. However peace of mind is sometimes the best option.
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