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Post by moongrazer on Oct 15, 2020 17:50:45 GMT
Goodness, you really get a sense of where the deluge of requests tailed off. 1 year market cleared entirety of May in just a week!
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Post by diversifier on Oct 15, 2020 19:21:08 GMT
Goodness, you really get a sense of where the deluge of requests tailed off. 1 year market cleared entirety of May in just a week! Careful with that assumption - we didn’t clear the May *requests* in one week. We cleared May *remaining*, which is a very different thing. The 1yr market normally consists of loans between 0-12 months of maturity, average 6 months. It’s now mid-October, 7 months from the first peak, and new lending was sharply reduced from March. The majority of the value of the Original queue has already been paid out naturally at loan maturity, without RYI. Plus, on a rolling basis, people will cancel RYI once the maturity remaining is less than a couple of months - why pay RYI fee when imminent payment is coming anyway, and it’s now clear that the PF will pay them for at least the next two or three months. The 1yr market is now getting fairly close to wound down, and will be dominated by short-dated loans. Willing reinvestors will be buying loans with only a couple months to run, and then recycling that money at increasing speed onto a shallowing loan base.
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Post by Badly Drawn Stickman on Oct 15, 2020 19:38:23 GMT
Goodness, you really get a sense of where the deluge of requests tailed off. 1 year market cleared entirety of May in just a week! Careful with that assumption - we didn’t clear the May *requests* in one week. We cleared May *remaining*, which is a very different thing. The 1yr market normally consists of loans between 0-12 months of maturity, average 6 months. It’s now mid-October, 7 months from the first peak, and new lending was sharply reduced from March. The majority of the value of the Original queue has already been paid out naturally at loan maturity, without RYI. Plus, on a rolling basis, people will cancel RYI once the maturity remaining is less than a couple of months - why pay RYI fee when imminent payment is coming anyway, and it’s now clear that the PF will pay them for at least the next two or three months. The 1yr market is now getting fairly close to wound down, and will be dominated by short-dated loans. Willing reinvestors will be buying loans with only a couple months to run, and then recycling that money at increasing speed onto a shallowing loan base. Can't argue with the logic, but I was under the impression the 1 year had been reinstated for all because that was going to be used for new loans. Given the goalposts seem to have legs that may have changed again obviously.
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rrrupert
Member of DD Central
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Post by rrrupert on Oct 15, 2020 20:38:41 GMT
Finally Access has reached March 14th. Any bets on how long until it reaches the 15th?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Oct 16, 2020 8:13:05 GMT
Finally Access has reached March 14th. Any bets on how long until it reaches the 15th? My punt: not this side of Christmas.
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Post by moongrazer on Oct 16, 2020 9:24:08 GMT
Goodness, you really get a sense of where the deluge of requests tailed off. 1 year market cleared entirety of May in just a week! Careful with that assumption - we didn’t clear the May *requests* in one week. We cleared May *remaining*, which is a very different thing. The 1yr market normally consists of loans between 0-12 months of maturity, average 6 months. It’s now mid-October, 7 months from the first peak, and new lending was sharply reduced from March. The majority of the value of the Original queue has already been paid out naturally at loan maturity, without RYI. Plus, on a rolling basis, people will cancel RYI once the maturity remaining is less than a couple of months - why pay RYI fee when imminent payment is coming anyway, and it’s now clear that the PF will pay them for at least the next two or three months. The 1yr market is now getting fairly close to wound down, and will be dominated by short-dated loans. Willing reinvestors will be buying loans with only a couple months to run, and then recycling that money at increasing speed onto a shallowing loan base. Yes, I can agree with that. I had an RYI in the 1 year that I originally made on May 5th. It finally completed on Monday/Tuesday. In the 5 months it took, three quarters of the sum came back through completed loans. So it is undoubtedly a combination of completed loans, cancelled requests, and natural fall off in requests over time.
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sd2
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Post by sd2 on Oct 16, 2020 9:31:24 GMT
rrrupert Avatar 12 hours ago rrrupert said: Finally Access has reached March 14th. Any bets on how long until it reaches the 15th? littleoldlady My punt: not this side of Christmas littleoldladyI have noticed a significant increase in the releases in the access account. 492 to 381 in 10 days. 111 places in 10 days. Therefore 34 days before my release from captivity! Or have I got that wrong? I have a hangover!! Of course I have no idea where you are in the queue and there may be some big releases in front of us. Anyway could have my £3000 back in time for Brexit fall in the market.
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sd2
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Post by sd2 on Oct 16, 2020 10:10:25 GMT
Finally Access has reached March 14th. Any bets on how long until it reaches the 15th? At the speed its going 34 days for me and I to asked on the 15th. Alas I could be living in a dream world as no idea of the size of the releases in front. Has it been stated anywhere by ratesetter what the total amount that is waiting for release?? RateSetter?
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Post by RateSetter on Oct 16, 2020 15:54:45 GMT
Good afternoon all. Today we have delivered £1m and the full update follows:
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Oct 16, 2020 16:13:30 GMT
well i would say it isn't too crazy. so far no capital is lost and the book will run off. if you can accept the risk and not exit early (fee) you stand to earn in some cases 3 to 4% (post haircut). even 1.5% is good (better than Marcus - we all discussed their 1.4%) and if you have 1 year left.... well why not go for it. The thread has moved on and probably covered anything I may have responded with. You do seem to feel the need to 'sell' RS as a decent prospect. You might want to reserve that for posts that give the opposite view, not ones merely pondering events. not really selling anything, ratesetter is over as a p2p product. to earn circa 10k monthly and walk away, sure i am impressed. can they do better yes and they should be clear on the haircut.
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Post by Badly Drawn Stickman on Oct 16, 2020 16:20:48 GMT
The thread has moved on and probably covered anything I may have responded with. You do seem to feel the need to 'sell' RS as a decent prospect. You might want to reserve that for posts that give the opposite view, not ones merely pondering events. not really selling anything, ratesetter is over as a p2p product. to earn circa 10k monthly and walk away, sure i am impressed. can they do better yes and they should be clear on the haircut. Thanks for sharing that.
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littleoldlady
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Post by littleoldlady on Oct 16, 2020 16:28:23 GMT
rrrupert Avatar 12 hours ago rrrupert said: Finally Access has reached March 14th. Any bets on how long until it reaches the 15th? littleoldlady My punt: not this side of Christmas littleoldlady I have noticed a significant increase in the releases in the access account. 492 to 381 in 10 days. 111 places in 10 days. Therefore 34 days before my release from captivity! Or have I got that wrong? I have a hangover!! Of course I have no idea where you are in the queue and there may be some big releases in front of us. Anyway could have my £3000 back in time for Brexit fall in the market. OK, "After Xmas" was a bit tongue in cheek and probably pessimistic. My initial thought was that a lot of people would have been slow to react to the 13th march announcement, and so there would be a lot on the 14th too. However if we assume that responders to the companion thread represent a fair sample of lenders we can see that there are comparitively few on 14th so should clear in a week or three. But that may be a big "if".
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Oct 16, 2020 16:39:48 GMT
not really selling anything, ratesetter is over as a p2p product. to earn circa 10k monthly and walk away, sure i am impressed. can they do better yes and they should be clear on the haircut. Thanks for sharing that. is the point of a forum not to discuss and debate exactly as above.
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Post by Badly Drawn Stickman on Oct 16, 2020 16:46:16 GMT
is the point of a forum not to discuss and debate exactly as above. I mistook it for a statement and thanked you accordingly.
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Greenwood2
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Post by Greenwood2 on Oct 16, 2020 17:34:59 GMT
The thread has moved on and probably covered anything I may have responded with. You do seem to feel the need to 'sell' RS as a decent prospect. You might want to reserve that for posts that give the opposite view, not ones merely pondering events. not really selling anything, ratesetter is over as a p2p product. to earn circa 10k monthly and walk away, sure i am impressed. can they do better yes and they should be clear on the haircut. That must be a huge investment, hope most of it is out now or you must be very confident in RS.
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