jane
Posts: 145
Likes: 214
|
Post by jane on Mar 21, 2020 15:32:00 GMT
What about the £330bn worth of government-backed loans that are available for handing out to businesses? I think those were just for businesses having problems specifically due to the Corona virus - they are not going to be handed out to business that are already failing. Ratesetters blurb is saying its business as usual, the loan book is fine, corona has not impact on it.
I doubt that they would be handed out just so we can get our money back quicker either.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Mar 21, 2020 15:37:34 GMT
My access RYI has just come through. So we're up to at least 17:30 (approx) on the 9th March now.
|
|
|
Post by Deleted on Mar 21, 2020 16:21:30 GMT
That's quite positive as I wasn't expecting any over the weekend.
|
|
db
New Member
Posts: 4
Likes: 11
|
Post by db on Mar 21, 2020 17:27:46 GMT
Hi. My money came out at 15.38 today. Requested at 18.03 on the 9th. Thanks for the info and good luck with the queue.
|
|
|
Post by jenna on Mar 21, 2020 19:30:34 GMT
Could someone help with a bit of maths/projection (I'm rubbish at it) please?
Based on the access RYI timelines given below (gleaned from posts on the forum), when might I expect to see my request (made in the early afternoon on the 12th) potentially come through?
RYI - paid out
9th around 1400 - 19th around 1600
9th around 1600 - 20th around 1500
9th around 1800 - 21st around 1600
I am conscious that the rate is likely to get slower and slower as incoming investment shrinks, but it would be good to get an estimate based on current timelines.
Thanks!
|
|
|
Post by Ace on Mar 21, 2020 19:43:04 GMT
Could someone help with a bit of maths/projection (I'm rubbish at it) please? Based on the access RYI timelines given below (gleaned from posts on the forum), when might I expect to see my request (made in the early afternoon on the 12th) potentially come through? RYI - paid out 9th around 1400 - 19th around 1600 9th around 1600 - 20th around 1500 9th around 1800 - 21st around 1600 I am conscious that the rate is likely to get slower and slower as incoming investment shrinks, but it would be good to get an estimate based on current timelines. Thanks! A quick, back of a fag packet calculation, gives roughly 34 days time. There are way too many assumptions from way to little data for this to be in any way accurate.
|
|
|
Post by nesako on Mar 21, 2020 19:46:41 GMT
Could someone help with a bit of maths/projection (I'm rubbish at it) please? Based on the access RYI timelines given below (gleaned from posts on the forum), when might I expect to see my request (made in the early afternoon on the 12th) potentially come through? RYI - paid out 9th around 1400 - 19th around 1600 9th around 1600 - 20th around 1500 9th around 1800 - 21st around 1600 I am conscious that the rate is likely to get slower and slower as incoming investment shrinks, but it would be good to get an estimate based on current timelines. Thanks! Without using any detailed spreadsheets (just assuming it takes 1 day to clear 2 hours worth of queue), I get roughly 33 days wait for you.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Mar 21, 2020 19:55:15 GMT
Could someone help with a bit of maths/projection (I'm rubbish at it) please? Based on the access RYI timelines given below (gleaned from posts on the forum), when might I expect to see my request (made in the early afternoon on the 12th) potentially come through? RYI - paid out 9th around 1400 - 19th around 1600 9th around 1600 - 20th around 1500 9th around 1800 - 21st around 1600 I am conscious that the rate is likely to get slower and slower as incoming investment shrinks, but it would be good to get an estimate based on current timelines. Thanks! That is going to be somewhat tricky. The reasons I say that are: 1) firstly as you say the rate may get slower. (it might not though, if RS are being creative at offloading borrowers elsewhere/trimming demand) 2) More importantly probably, the 9th was a 'black' Monday. The stock market plummeting will have been the reason there are so many withdrawals from that day. So, actually, that's good news for you I imagine, as the 10th/11th will go faster. How much faster? Haven't got a clue. 3) So, perhaps the 10th/11th will be relatively quick. But then there's the 12th. The 12th was even blacker than the 9th in stock market terms. Again, it may be that a lot of money was RYI'd that day. The difference between an RYI made at 9am and 5pm might be huge. 4) In addition to the above, we've no view of how RS are prioritising between Access/1yr/5yr. They certainly put my 5yr through quickly. Whether that speeds up or slows down access depends on RS's view and indeed again how many people are withdrawing from them (maybe less than Access because of the fees?). All this said, what the hell, I'll play. I'm gonna say 2 days more for the 9th, then 3 days for the 10th, 3 days for the 11th, and 7 days for the 12th. So, my pitch for yours is the 1st April, and if you trust in that too much you really will be an April fool edit: X'd with people who are probably being far more realistic than I am!
|
|
|
Post by Deleted on Mar 21, 2020 19:55:43 GMT
I think it may be quicker than 33 days (but only because I've used different assumptions). In particular: - I think there were a lot of requests on the 9th so it's possible there were fewer in the following days - we haven't had a 1st of the month yet when a lot of repayments come in - RS originally said around a week. Given they've got all the info, I'd hope they weren't as wrong by over 3 weeks, but maybe it was just spin.
|
|
|
Post by Deleted on Mar 21, 2020 19:58:24 GMT
Crossed with r00lish but some similar thoughts.
|
|
|
Post by jenna on Mar 21, 2020 20:45:00 GMT
Thanks all for your estimates! To the poster who mentioned that the huge FTSE crash on the 12th might have promoted some RYIs, I was one of those Nervous Nellies I've been stupidly using the RS Access (ex rolling) account as a quasi high interest bank account. I will struggle to make rent next month (due on the 5th) if the funds don't get released by then No one to blame but myself. Hopefully the landlord will show some forbearance.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Mar 21, 2020 20:55:30 GMT
Thanks all for your estimates! To the poster who mentioned that the huge FTSE crash on the 12th might have promoted some RYIs, I was one of those Nervous Nellies I've been stupidly using the RS Access (ex rolling) account as a quasi high interest bank account. I will struggle to make rent next month (due on the 5th) if the funds don't get released by then No one to blame but myself. Hopefully the landlord will show some forbearance. Bummer, sorry to hear that. I'd hope your landlord would be kind in the general circumstances. Just in case the RYI doesn't come through by then, have you looked at MSE for tips? Things like getting out of fixed rate savers early, forbearance on credit card payments, perhaps your bank taking a lenient view on using any overdraft etc etc. might be something in there to scrabble together some extra cash in the short term.
|
|
|
Post by Badly Drawn Stickman on Mar 21, 2020 21:04:44 GMT
Thanks all for your estimates! To the poster who mentioned that the huge FTSE crash on the 12th might have promoted some RYIs, I was one of those Nervous Nellies I've been stupidly using the RS Access (ex rolling) account as a quasi high interest bank account. I will struggle to make rent next month (due on the 5th) if the funds don't get released by then No one to blame but myself. Hopefully the landlord will show some forbearance. Bummer, sorry to hear that. I'd hope your landlord would be kind in the general circumstances. Just in case the RYI doesn't come through by then, have you looked at MSE for tips? Things like getting out of fixed rate savers early, forbearance on credit card payments, perhaps your bank taking a lenient view on using any overdraft etc etc. might be something in there to scrabble together some extra cash in the short term. Lot of variables at play obviously, but judging by the emails I have had from banks and credit cards there is a lot of generous leniency on offer at the moment. It was so nice to see, I totally resisted the the temptation to work out how it could be 'gamed'. Maybe there is still a spark of goodness in me yet.
|
|
|
Post by tom1 on Mar 21, 2020 22:07:47 GMT
Thanks all for your estimates! To the poster who mentioned that the huge FTSE crash on the 12th might have promoted some RYIs, I was one of those Nervous Nellies I've been stupidly using the RS Access (ex rolling) account as a quasi high interest bank account. I will struggle to make rent next month (due on the 5th) if the funds don't get released by then No one to blame but myself. Hopefully the landlord will show some forbearance. With 3 data points in the same day and only 4 hours apart, with no information on the differences between the amount requested on each day, and no way to predict the future daily release amounts, it is impossible to sensibly extrapolate into a multi-day prediction. Ratesetter has all of the required information except for the future daily releasable amounts (although they may have other information which could help predict this) so even they are going to be understandably reluctant to attempt to answer the question of when a given request might be met. Hopefully your request will be met in time but it would seem prudent to use the next two weeks to investigate other options to source the money in case it doesn't come through in time.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,161
Likes: 4,846
|
Post by ozboy on Mar 22, 2020 11:15:28 GMT
Bummer, sorry to hear that. I'd hope your landlord would be kind in the general circumstances. Just in case the RYI doesn't come through by then, have you looked at MSE for tips? Things like getting out of fixed rate savers early, forbearance on credit card payments, perhaps your bank taking a lenient view on using any overdraft etc etc. might be something in there to scrabble together some extra cash in the short term. Lot of variables at play obviously, but judging by the emails I have had from banks and credit cards there is a lot of generous leniency on offer at the moment. It was so nice to see, I totally resisted the the temptation to work out how it could be 'gamed'. Maybe there is still a spark of goodness in me yet. And this is what worries me most. Also the three month rent holiday and similar measures. I count hoarders in this too. The lowest in society will right now be profiting and plotting how to profit from this disaster and their detrimental actions will cause irreparable damage to us all. I obviously do not mean your normal investment avenues, anyone with half a brain knows what I mean.
|
|