corto
Member of DD Central
one-syllabistic
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Post by corto on Sept 21, 2020 12:01:09 GMT
Access moved 45 places since Friday (now 28); 1 year at 103
.. whoops ... all my access funds have been returned in the last 10 minutes
21/09/2020 13:05 Access 13/03/2020 375067 repaid
1 Year 23/05/2020 407467 785
Acc ISA 13/03/2020 375071 repaid
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Post by freefalljunkie on Sept 21, 2020 13:18:23 GMT
Agree with the above - overall I am much more confident than before the takeover - if nothing else MB won't want the negative PR if RS investors have to take a haircut. But I agree impossible to say either way at the moment - my instinct - what's that worth - not a lot! - is that the APM market will continue in run-off for another 2 years. I can live with this but would rather not. Also I note since takeover there is a lot more investor money on the market at lower rates e.g. just now: >>3.2% £4.2m 3.1% £6.6k 3.0% £770,85 so hopefully this will keep the momentum up regarding the queue positions? Good news that the APM queue is moving at last. On the run off for another 2 years though, is it not going to take as long as the duration of the underlying loans? Mine in Access go out as far as 54 months. I am struggling to see how the run off would be shorter? Hope I have missed something here!
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adrian77
Member of DD Central
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Post by adrian77 on Sept 21, 2020 15:46:30 GMT
no you haven't - I totally agree with your logic but hopefully if the queue continues to increase in speed then confidence will return and I am hoping if not praying that more loans requests will be cancelled and RS will have funds to improve the queue flow even more. Also if the interest paid is reduced as I suspect it will be in Jan 2021 (just my natural cynicism and not empirical evidence) I wonder if the loan book could be sold - I guess MB want shot of it as soon as possible - just my theory.
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Post by RateSetter on Sept 21, 2020 16:07:32 GMT
Good afternoon. Today we have delivered £1.2m and the full update is below:
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littleoldlady
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Post by littleoldlady on Sept 21, 2020 16:50:08 GMT
The RYIQ moving is nothing to do with the run off. Those at the front of the Q are having their loans bought by lenders who have not set their rate to max and don't realise what is going on so are buying - or being sold - more loans even though they want to sell the ones they already have.
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lakshmi
New Member
Om
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Post by lakshmi on Sept 21, 2020 20:51:27 GMT
Thanks for the quick response jcb208. I have now increased this to 8% (5% above the current rate). So I believe/ am hoping that I will get more funds on my Holding Account to withdraw. I just really hope I do get my capital back. But position 2,307 makes me very nervous about seeing it again.... regarding the question above. I'm a newbie also and asked a few similar pedestrian questions a while back. Can someone explain what the act is to 'increase the investment rate' that we already have which may influence or affect our position in the queue. If I can benefit at all by changing my rates currently 3.1 and 3.5 please can someone let me know if this is of benefit.
Can someone say if it will affect my date of 18/3 for my RYI?
Thanking anyone in advance.
Ever hopeful and praying for all Ratesetter investors regularly (ye thank me in your morning coffee rituals) Lakshmi.
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Post by mouldy on Sept 21, 2020 21:07:20 GMT
Thanks for the quick response jcb208. I have now increased this to 8% (5% above the current rate). So I believe/ am hoping that I will get more funds on my Holding Account to withdraw. I just really hope I do get my capital back. But position 2,307 makes me very nervous about seeing it again.... regarding the question above. I'm a newbie also and asked a few similar pedestrian questions a while back. Can someone explain what the act is to 'increase the investment rate' that we already have which may influence or affect our position in the queue. If I can benefit at all by changing my rates currently 3.1 and 3.5 please can someone let me know if this is of benefit.
Can someone say if it will affect my date of 18/3 for my RYI?
Thanking anyone in advance.
Ever hopeful and praying for all Ratesetter investors regularly (ye thank me in your morning coffee rituals) Lakshmi.
Increasing your investment rate won't change your position in the queue. What it will do is stop the funds which are being regularly paid back into your account as contracts complete from being reinvested. This will slowly build up and enable you to manually withdraw some of your capital prior to you reaching the front of the RYI queue.
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aju
Member of DD Central
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Post by aju on Sept 22, 2020 9:26:42 GMT
Thanks for the quick response jcb208. I have now increased this to 8% (5% above the current rate). So I believe/ am hoping that I will get more funds on my Holding Account to withdraw. I just really hope I do get my capital back. But position 2,307 makes me very nervous about seeing it again.... regarding the question above. I'm a newbie also and asked a few similar pedestrian questions a while back. Can someone explain what the act is to 'increase the investment rate' that we already have which may influence or affect our position in the queue. If I can benefit at all by changing my rates currently 3.1 and 3.5 please can someone let me know if this is of benefit.
Can someone say if it will affect my date of 18/3 for my RYI?
Thanking anyone in advance.
Ever hopeful and praying for all Ratesetter investors regularly (ye thank me in your morning coffee rituals) Lakshmi.
I agree with mouldy but did you set your ryi to "all funds" or to a specific figure say. Set your interest rate to the highest possible you can (5% above current rates but just keep raising it till it says you can move no higher). The reason I query the set figure is that since you requested RYI you will have been relending and its a safe bet that you will not be able to get back the increased amounts. I have some funds stuck in that scenario but not that much as I stopped the relending using the high rate technique. What ever you do though do NOT remove the current ryi and increase it at any cost you are nearer the front than some of us who did not start considering removals till May in our case.
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Post by RateSetter on Sept 22, 2020 15:57:36 GMT
Good afternoon all. Today we have delivered £0.3m and the full update is below:
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Sept 22, 2020 16:34:54 GMT
Good afternoon all. Today we have delivered £0.3m and the full update is below: tad weak
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Post by saintpeter on Sept 23, 2020 9:29:10 GMT
The RYIQ moving is nothing to do with the run off. Those at the front of the Q are having their loans bought by lenders who have not set their rate to max and don't realise what is going on so are buying - or being sold - more loans even though they want to sell the ones they already have.This has always been the case though. Doesn't explain why the RYI access queue is suddenly (and coincidentally) moving much faster just after the Metro Bank takeover when it had been moving at snail's pace before...
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Sept 23, 2020 10:06:23 GMT
The RYIQ moving is nothing to do with the run off. Those at the front of the Q are having their loans bought by lenders who have not set their rate to max and don't realise what is going on so are buying - or being sold - more loans even though they want to sell the ones they already have.This has always been the case though. Doesn't explain why the RYI access queue is suddenly (and coincidentally) moving much faster just after the Metro Bank takeover when it had been moving at snail's pace before... Do you have a theory which does explain it?
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aju
Member of DD Central
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Post by aju on Sept 23, 2020 10:07:25 GMT
The RYIQ moving is nothing to do with the run off. Those at the front of the Q are having their loans bought by lenders who have not set their rate to max and don't realise what is going on so are buying - or being sold - more loans even though they want to sell the ones they already have.This has always been the case though. Doesn't explain why the RYI access queue is suddenly (and coincidentally) moving much faster just after the Metro Bank takeover when it had been moving at snail's pace before... The individual days are not really much of an indicator in my view its the weekly's that mean more. Whilst I agree that many people do not know how to set rates etc in fact the majority probably just set up the account select the product and leave it alone. I wonder in reality if there are more people still oblivious to the RS state and the metro involvement but then again does it really matter to most of the people on here who are watching queues etc with a fine tooth comb. The mercenary view might be that the more that are oblivious means one gets an earlier release. Who knows what really going on under the hood. RS is a Business and its focus has been adjusted to elsewhere whilst paying lip service to its existing customers. Sadly its not right and hopefully I am wrong but they now have other interested parties who lets face it did not buy it because there was a customer base of lenders.
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Post by RateSetter on Sept 23, 2020 16:18:51 GMT
Good afternoon, today we have delivered £0.3m and the full update follows below:
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Post by RateSetter on Sept 24, 2020 15:58:23 GMT
Good afternoon everyone, today we have delivered £0.6m and the full update is below:
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