benaj
Member of DD Central
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Post by benaj on Jan 27, 2021 9:32:18 GMT
Will you take the bait?
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Post by gricehead on Jan 27, 2021 9:32:43 GMT
Email today, might be of interest(!) to anyone still in:
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aju
Member of DD Central
Posts: 3,484
Likes: 917
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Post by aju on Jan 27, 2021 9:48:51 GMT
Yeah just read that one you beat me by 11 minutes  We still have < £30 in there still at good rates but not sure its going to affect us now having already removed most of our funds quite a while ago now. Good for those still in who chose to stay till the bitter end i guess and if I wanted to I could probably punt a few hundred and get some sales items but to be honest RS is almost dead and we have parked our funds elsewhere for now. |
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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 27, 2021 9:53:34 GMT
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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 27, 2021 9:57:17 GMT
Yeah just read that one you beat me by 11 minutes We still have < £30 in there still at good rates but not sure its going to affect us now having already removed most of our funds quite a while ago now. Good for those still in who chose to stay till the bitter end i guess and if I wanted to I could probably punt a few hundred and get some sales items but to be honest RS is almost dead and we have parked our funds elsewhere for now. there is no ratesetter investment anymore, all you will do if you invest is join a glut of funds not being matched. there is nothing to lend to as all markets are liquid. - why bother
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gg
Posts: 83
Likes: 61
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Post by gg on Jan 27, 2021 10:09:32 GMT
Sorry to see RS ending but I am really pleased that a potential disaster for investors has been expertly averted.
It was good whilst it lasted.
Time to hunker down for the coming storm as the Chancellor will be looking to pay for this pandemic soon enough.
Good luck everybody. Stay safe.
gg
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Post by Badly Drawn Stickman on Jan 27, 2021 10:10:56 GMT
Yeah just read that one you beat me by 11 minutes We still have < £30 in there still at good rates but not sure its going to affect us now having already removed most of our funds quite a while ago now. Good for those still in who chose to stay till the bitter end i guess and if I wanted to I could probably punt a few hundred and get some sales items but to be honest RS is almost dead and we have parked our funds elsewhere for now. there is no ratesetter investment anymore, all you will do if you invest is join a glut of funds not being matched. there is nothing to lend to as all markets are liquid. - why bother Indeed. There is £30million plus sitting in the market currently (must be a good reason beyond my comprehension) so pretty sure any RYI will be dealt with fairly quickly. Doubt you could match if you tried (I might out of idle curiosity when my next payment is received). Bonus that is welcome in my case, I could never bring myself to take the hit for fees on 5 Year and hopefully now they will give a full return until completion. Fortune favoring the brave/stupid apparently.
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aju
Member of DD Central
Posts: 3,484
Likes: 917
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Post by aju on Jan 27, 2021 10:47:50 GMT
Yeah just read that one you beat me by 11 minutes We still have < £30 in there still at good rates but not sure its going to affect us now having already removed most of our funds quite a while ago now. Good for those still in who chose to stay till the bitter end i guess and if I wanted to I could probably punt a few hundred and get some sales items but to be honest RS is almost dead and we have parked our funds elsewhere for now. there is no ratesetter investment anymore, all you will do if you invest is join a glut of funds not being matched. there is nothing to lend to as all markets are liquid. - why bother I assumed that there will be considerable people who want to get out and they will be furnished by the number who would still be investing if there are any there must be surely be a few!. To be honest once we made the decision to sell up I've not even bothered to sign the required papers that i understand what i am doing and i haven't tried to lend at this time either to find out if the system will let me lend anyway. Haven't actively lent on RS or Zopa for that matter for nearly a year now. I'm not sure what the RS rates are these days, at least soon the rates will be as shown on screen but I'm guessing there will not be the higher rates that i'd be more comfortable lending at anyway. Edit: just checked the churn is nearly 8M this week so far 12M last week so someone is lending/relending still, I agree its only internal sales generating the churn if there is no borrowers loans being entered into the affray. Edit2: So i've spent the last hour with a monitor on the lending and borrowing on Access - I assume it most active if any of them are - I went away for a while so i haven't actually seen any borrowers offers appear but but I did notice that the 2.3% it was 20/30 minutes ago is now moved up to 2.7% with £700.51 on offer. Now this is fag packet and would be better if i could see the lending offers coming in as well but for me one could if one lent at the right level < 2.5% at the minute say would snap up an market returns appearing I feel. As i was typing this edit a 2.4% lender offer came on - still no borrowers but as I say since there are no new borrowers not sure if they would show anyway. i'm assuming now that these are re-lends just finished and picking up sold funds. This is churn so maybe borrowers don;t appear in the list - haven't seen any as such
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Post by mfaxford on Jan 27, 2021 11:08:28 GMT
Not much point, I don't think I'd be likely to catch anything that tasty. The implication from the email is that there won't be any new lending so the only thing around to catch are RYIs. Having not joined the RYI bandwagon I've still got some money in the 5Yr market with a decent rate that I'll look forward to having returned with no losses over the coming months/years.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Jan 27, 2021 12:27:59 GMT
Possibly.
I put my RS portfolio into run-off end of May/beginning of June last year.
RS (unsecured) loanbook has been in run-off since the MB takeover (September?)
1st line of thought: Might be an idea to reinvest and continue in run-off together, thereby enjoying some decent rates while they're still to be had on an ever-decreasing loanbook.
2nd line of thought: Things are not equal though as MB will take no responsibility for losses on the existing RS loans so if the situation deteriorates it's us lenders who will take the hit.
It's a close call in my view. 100% interest coverage does inspire more confidence going forward though.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Jan 27, 2021 12:33:16 GMT
My view can be found here for those who are interested. |
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Post by Ace on Jan 27, 2021 12:46:57 GMT
Possibly.
I put my RS portfolio into run-off end of May/beginning of June last year.
RS (unsecured) loanbook has been in run-off since the MB takeover (September?)
1st line of thought: Might be an idea to reinvest and continue in run-off together, thereby enjoying some decent rates while they're still to be had on an ever-decreasing loanbook.
2nd line of thought: Things are not equal though as MB will take no responsibility for losses on the existing RS loans so if the situation deteriorates it's us lenders who will take the hit.
It's a close call in my view. 100% interest coverage does inspire more confidence going forward though.
I don't really see the logic here. I don't see any chance of "enjoying some decent rates", unless you think 3% is decent. There's currently £5.8m on offer in Access at 3.0% and below. With no new loans and the RYI queues empty, turnover is presumably going to be very low. Added to this, there is still a chance of capital haircuts when the furlough schemes end, though the risk of this does seem much lower now.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Jan 27, 2021 14:12:43 GMT
Possibly.
I put my RS portfolio into run-off end of May/beginning of June last year.
RS (unsecured) loanbook has been in run-off since the MB takeover (September?)
1st line of thought: Might be an idea to reinvest and continue in run-off together, thereby enjoying some decent rates while they're still to be had on an ever-decreasing loanbook.
2nd line of thought: Things are not equal though as MB will take no responsibility for losses on the existing RS loans so if the situation deteriorates it's us lenders who will take the hit.
It's a close call in my view. 100% interest coverage does inspire more confidence going forward though.
I don't really see the logic here. I don't see any chance of "enjoying some decent rates", unless you think 3% is decent. There's currently £5.8m on offer in Access at 3.0% and below. With no new loans and the RYI queues empty, turnover is presumably going to be very low. Added to this, there is still a chance of capital haircuts when the furlough schemes end, though the risk of this does seem much lower now. Only a few ever seem to see my logic but it has brought me reasonable success over the years so I don't really care.
I consider 3% to be quite decent in the current economic climate for this kind of product, for a small percentage of a well-diversified portfolio. The chance of a capital haircut at the moment is zero. That may change in due course which is why vigilance is always required when investing.
Like I said, it's a close call not a no-brainer.
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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 27, 2021 17:02:57 GMT
there is no ratesetter investment anymore, all you will do if you invest is join a glut of funds not being matched. there is nothing to lend to as all markets are liquid. - why bother I assumed that there will be considerable people who want to get out and they will be furnished by the number who would still be investing if there are any there must be surely be a few!. To be honest once we made the decision to sell up I've not even bothered to sign the required papers that i understand what i am doing and i haven't tried to lend at this time either to find out if the system will let me lend anyway. Haven't actively lent on RS or Zopa for that matter for nearly a year now. I'm not sure what the RS rates are these days, at least soon the rates will be as shown on screen but I'm guessing there will not be the higher rates that i'd be more comfortable lending at anyway. Edit: just checked the churn is nearly 8M this week so far 12M last week so someone is lending/relending still, I agree its only internal sales generating the churn if there is no borrowers loans being entered into the affray. Edit2: So i've spent the last hour with a monitor on the lending and borrowing on Access - I assume it most active if any of them are - I went away for a while so i haven't actually seen any borrowers offers appear but but I did notice that the 2.3% it was 20/30 minutes ago is now moved up to 2.7% with £700.51 on offer. Now this is fag packet and would be better if i could see the lending offers coming in as well but for me one could if one lent at the right level < 2.5% at the minute say would snap up an market returns appearing I feel. As i was typing this edit a 2.4% lender offer came on - still no borrowers but as I say since there are no new borrowers not sure if they would show anyway. i'm assuming now that these are re-lends just finished and picking up sold funds. This is churn so maybe borrowers don;t appear in the list - haven't seen any as such save your time and stop researching a done deal 
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Jan 27, 2021 18:28:22 GMT
I assumed that there will be considerable people who want to get out and ... Perhaps you missed the announcement on other threads etc.
Everyone who wants to get out has already got out, so only those who have changed their mind will be getting out today if they hadn't done so by yesterday... and that's hardly an announcement likely to make many change their minds in that direction.
Personally, I'd anticipated such an announcement was coming (but expected it a month or so later), and had adjusted my investment settings accordingly as a result of the previous update which mentioned the 92% figure.
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