aju
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Post by aju on Oct 1, 2020 17:27:55 GMT
Fair chunk from 5Y and 1Y, our 5Y is all gone bar the dreggs and may get some release earlier on the 1Y be interesting to see how many spots the 1Y drops when the numbers come in tommorrow.
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Post by RateSetter on Oct 2, 2020 16:22:10 GMT
Good afternoon. Today we have delivered £0.4m and the full update follows below:
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adrian77
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Post by adrian77 on Oct 2, 2020 17:13:07 GMT
I don't think this is too bad all things considered and certainly better than I was expecting prior to MB takeover
I am an idiot for not doing so but I did not really study the investment model before I invested.
Am I being reasonable in expecting the queue to speed up next year as the 5 Year one has stopped withdrawals and the 1 year one will be closing naturally in 6 months for all loans requested in March - I guess it depends how much pressure the PF comes under?
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Post by drphil on Oct 2, 2020 20:14:33 GMT
I see that RS haven't said "evening of " 13 March - yet
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gmd78
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Post by gmd78 on Oct 3, 2020 7:22:46 GMT
RS now claim to have released over £100m yet the A/P/M RYI's have now been stuck on the 13th March for THREE months. However not to worry because: 1. RS have now delivered £102.5m of release requests, yet they refuse to say how this has been directed. 2. £40.4m of rerelease requests have been cancelled or reduced yet RS refuse to state how this is calculated. 3. No one has yet lost money in RS. Yet you can not access your money. 4. Not to worry because while you are waiting for your RYI your money will always be earning interest - trouble is that you can't withdraw any interest, or repaid capital (except by manipulation) To withdraw your money it has to be matched with another investor. Its a shame that RS cut off the flow of new investors leaving existing investors whose funds are automatically re-invested to pick up the RYI's. Either they are happy to be earning up to 25x Bank of England rate in interest, or they are unaware how to circumvent auto-reinvestment. All cogent and persuasive questions Jennifer, precisely targeted, I, for one, would also like answers, sooner rather than later.
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littleoldlady
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Post by littleoldlady on Oct 3, 2020 15:47:42 GMT
To withdraw your money it has to be matched with another investor. Its a shame that RS cut off the flow of new investors leaving existing investors whose funds are automatically re-invested to pick up the RYI's. Either they are happy to be earning up to 25x Bank of England rate in interest, or they are unaware how to circumvent auto-reinvestment. It's a shame from existing lenders POV, but not from that of potential investors who would have been caught in the same trap. I doubt that anyone is happy to be earning little more than the best rate FSCS account in a locked account with no protection, so all the £100 million has probably come from passive investors who don't read this forum and are under the impression that the way to withdraw their funds is to request a RYI.
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littleoldlady
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Post by littleoldlady on Oct 4, 2020 9:44:15 GMT
It's a shame from existing lenders POV, but not from that of potential investors who would have been caught in the same trap. I doubt that anyone is happy to be earning little more than the best rate FSCS account in a locked account with no protection, so all the £100 million has probably come from passive investors who don't read this forum and are under the impression that the way to withdraw their funds is to request a RYI. Which potential investors would you be referring to? RS closed the door to new investors some time ago. I think that any new money can only come from existing investors. I was referring to the same "new investors" that you were; quote: "Its a shame that RS cut off the flow of new investors".
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Post by RateSetter on Oct 5, 2020 16:48:33 GMT
Good afternoon. Today we have delivered £0.6m. The full update is below:
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beagle
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Post by beagle on Oct 5, 2020 19:20:53 GMT
Good afternoon. Today we have delivered £0.6m. The full update is below: We are not far from what will soon be tiny releases when the 5 year catches up (it is now 32 days behind) and likely going to surge further. 1 year is making good ground too but quite possible that this is linked to 5 year funds moving to 1 year as per the adjustments they made. Either way what is clear is that the 5 year will soon be up to date (or near enough) and then unless something dramatic changes releases will be probably less than 1 million a week if you consider the dates of A/P/M and 1 year. It is still an impressive effort but tactics need to change if they wish to keep momentum
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robski
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Post by robski on Oct 5, 2020 21:19:06 GMT
Good afternoon. Today we have delivered £0.6m. The full update is below: We are not far from what will soon be tiny releases when the 5 year catches up (it is now 32 days behind) and likely going to surge further. 1 year is making good ground too but quite possible that this is linked to 5 year funds moving to 1 year as per the adjustments they made. Either way what is clear is that the 5 year will soon be up to date (or near enough) and then unless something dramatic changes releases will be probably less than 1 million a week if you consider the dates of A/P/M and 1 year. It is still an impressive effort but tactics need to change if they wish to keep momentum They are stopping any releases from 5 year soon
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beagle
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Post by beagle on Oct 5, 2020 21:24:31 GMT
We are not far from what will soon be tiny releases when the 5 year catches up (it is now 32 days behind) and likely going to surge further. 1 year is making good ground too but quite possible that this is linked to 5 year funds moving to 1 year as per the adjustments they made. Either way what is clear is that the 5 year will soon be up to date (or near enough) and then unless something dramatic changes releases will be probably less than 1 million a week if you consider the dates of A/P/M and 1 year. It is still an impressive effort but tactics need to change if they wish to keep momentum How can it be an impressive effort when A/P/M is practically stagnant? Ever wonder why RS refuse to give any explanation as to the rationality of how they release funds? no need to wonder. They lend from that market, therefore slow release.
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beagle
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Post by beagle on Oct 5, 2020 21:28:45 GMT
We are not far from what will soon be tiny releases when the 5 year catches up (it is now 32 days behind) and likely going to surge further. 1 year is making good ground too but quite possible that this is linked to 5 year funds moving to 1 year as per the adjustments they made. Either way what is clear is that the 5 year will soon be up to date (or near enough) and then unless something dramatic changes releases will be probably less than 1 million a week if you consider the dates of A/P/M and 1 year. It is still an impressive effort but tactics need to change if they wish to keep momentum They are stopping any releases from 5 year soon good point, a real illustration of reality in liquidity.
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aju
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Post by aju on Oct 5, 2020 23:16:58 GMT
no need to wonder. They lend from that market, therefore slow release. Really? How do you know? RS refuse to say how the money is being released. Do you really think that money released in the A/P/M markets can only satisfy 1 or 2 RYI's a day? My thoughts are that RS is using A/P/M money to pay off the more expensive 1 and 5 year markets. RS refuse to confirm or deny this. Why do you think that is? Additionally, if they lend just from the 5 year market then how are they going to close it down on the 14th October? Who will take over the loans? I'm as confused as the next person but I'd bet on there being a lot more money in the new markets than one might expect and i'm guessing there are still some "big" players in there slowing things down at the front as well as the middle too. I think the big players from the 5Y have long since been paid out and hence its dwindled down. The 1Y is a different beast as there will be contractual commitments to lend too. Each lender has a number and its really a 1st in first out system apart from rate matching of course which is an art in itself too if RS wants to maintain some operational funds. Just a theory of course - I'm not sure RS has to tell anyone where and why they are clearing out certain products if that's what they are in fact doing of course.
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beagle
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Post by beagle on Oct 6, 2020 7:02:28 GMT
no need to wonder. They lend from that market, therefore slow release. Really? How do you know? RS refuse to say how the money is being released. Do you really think that money released in the A/P/M markets can only satisfy 1 or 2 RYI's a day? My thoughts are that RS is using A/P/M money to pay off the more expensive 1 and 5 year markets. RS refuse to confirm or deny this. Why do you think that is? Additionally, if they lend just from the 5 year market then how are they going to close it down on the 14th October? Who will take over the loans? Ratesetter say it is chronological and by market, so they have explained that part. I do not think APM is for 1 or 2 releases a day, as clearly on the tracker stardust made it has jumped several times but quite a few. There are also more funds in the APM stuck and so this makes it slower. It is also obvious they are lending out of APM as they had already started pre-pandemic to take the 1 year away. They have also said they are barely writing new loans. It is also that likely most loans - for the six months pre-pandemic are all from the APM which is cheaper and easier to predict. This is why therefore the 1 year and 5 year move so fast there are less loans and they make money from the exit fee. There is not much more to it. No one said they will just lend from 5 year. If it closes down, then no one will take over the loans. Also already detailed by ratesetter no? I do find it impressive, they released the funds. Many companies have not enabled any release of funds or in staggered tranches. People expect it all at once, how do you expect ratesetter to get the money back if it is leant out.
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beagle
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Post by beagle on Oct 6, 2020 7:50:03 GMT
Ratesetter say it is chronological and by market, so they have explained that part. I do not think APM is for 1 or 2 releases a day, as clearly on the tracker stardust made it has jumped several times but quite a few. There are also more funds in the APM stuck and so this makes it slower. It is also obvious they are lending out of APM as they had already started pre-pandemic to take the 1 year away. They have also said they are barely writing new loans. It is also that likely most loans - for the six months pre-pandemic are all from the APM which is cheaper and easier to predict. This is why therefore the 1 year and 5 year move so fast there are less loans and they make money from the exit fee. There is not much more to it. No one said they will just lend from 5 year. If it closes down, then no one will take over the loans. Also already detailed by ratesetter no? I do find it impressive, they released the funds. Many companies have not enabled any release of funds or in staggered tranches. People expect it all at once, how do you expect ratesetter to get the money back if it is leant out. Over the past week the I have moved 1/2 places a day on the A/P/M queue. That is fact. It is also fact that RS have been stuck on the 13th March for A/P/M releases for OVER THREE MONTHS. Is that impressive? I think not. If as you maintain that RS are repaying loans by market then who are taking over the loans in the 5 year market? RS have given notice that the market is closing on the 14th October. To have funds released you either have to have another investor take over the loan or the borrower has to repay the loan. It is impressive that RS have paid back over £100m. What is not impressive is their complete lack of transparency. I would also point out that previously additional funds would have been provided by new investors but RS has closed the door to new investment thus compounding the problems. Over the past week the I have moved 1/2 places a day on the A/P/M queue. That is fact. It is also fact that RS have been stuck on the 13th March for A/P/M releases for OVER THREE MONTHS. Is that impressive? I think not. you say 1 or 2 places a day but you have not. Or you have a technical glitch. I moved 9 last night. I ask you then, how do you expect the funds back? Demand it upfront from the borrower? It does not work like that. It is impressive over 100 million is back intact and in full with investors at least to me. If as you maintain that RS are repaying loans by market then who are taking over the loans in the 5 year market? RS have given notice that the market is closing on the 14th October. To have funds released you either have to have another investor take over the loan or the borrower has to repay the loan. I don't maintain this - ratesetter say this in their own emails. Yes it is true another investor needs to take over or the loan to run off. Some years ago before APM there would be more money in 5 year and so there is probably more repayment, and yes, if the market closes then loans run off. it is very simple. It is impressive that RS have paid back over £100m. What is not impressive is their complete lack of transparency. I would also point out that previously additional funds would have been provided by new investors but RS has closed the door to new investment thus compounding the problems.
What transparency do you want? Cash ahead of you? That I agree with. Otherwise, what else can they offer? They can not just enroll new investors the FCA have direct impact in that type of thing. Obviously they would accept and not compound things by choice but it is clear there arm is twisted to an extent.
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