beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
|
Post by beagle on Jan 6, 2021 8:01:45 GMT
a little late to the party. They are bank owned and will not have any new investors. they are running down their loan book with retail investors and will only lend with metro funds. so you are late to the party - however, do not forget your party bag (your money) I'd be happy with making 100k in interest too (see the previous declaration) so obviously not that late to the party other than being on these forums!. I've not quite made that amount, well quite a way off but we have not lost with RS, quite the opposite even with our meagre funds! i sadly paid circa 40k tax on the interest earnt annually. Managed roughly 4.5k after tax monthly for about 5.5 years. It has been good to me too
|
|
|
Post by RateSetter on Jan 6, 2021 9:03:35 GMT
Good morning. Yesterday we delivered £2m and the full update is below:
|
|
beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
|
Post by beagle on Jan 6, 2021 11:22:07 GMT
Good morning. Yesterday we delivered £2m and the full update is below: money is slowing a bit now. but good progress. However, a bit of a fib here on Ratesetters side. i have a release from the 2nd of September and there is no sign of it. you can not really claim the 17th. i bet im not alone here. my release was for several 000 so certainly not something to neglect
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 705
Likes: 464
|
Post by coogaruk on Jan 6, 2021 12:07:39 GMT
Good morning. Yesterday we delivered £2m and the full update is below: money is slowing a bit now. but good progress. However, a bit of a fib here on Ratesetters side. i have a release from the 2nd of September and there is no sign of it. you can not really claim the 17th. i bet im not alone here. my release was for several 000 so certainly not something to neglect M'Lady had her ED Access RYI from 15th September complete yesterday, having been >1600 in the queue on Monday.
My ISA Access RYI made on 30th December only moved a few hundred places.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,033
Likes: 1,857
|
Post by littleoldlady on Jan 6, 2021 15:29:55 GMT
They have moved on 2 weeks in one day. Really into the tail now. The problem for those still invested is that all the property secured loans have been sold and the proceeds distributed to the RYIQ leaving them holding a relatively toxic portfolio of unsecured loans, many of which will have been to people who have already lost their jobs or shortly will.
|
|
beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
|
Post by beagle on Jan 6, 2021 17:52:32 GMT
They have moved on 2 weeks in one day. Really into the tail now. The problem for those still invested is that all the property secured loans have been sold and the proceeds distributed to the RYIQ leaving them holding a relatively toxic portfolio of unsecured loans, many of which will have been to people who have already lost their jobs or shortly will. property can go either way value wise too mind. I would doubt that much of the book is very toxic, some will be, however, there will be a lending criteria and many are still on furlough vs job loss. I think we have some way to go yet before we would see any actual capital loss. Also - many of which will have been to people who have already lost their jobs or shortly will there is nothing to suggest this is fact at the moment,
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 705
Likes: 464
|
Post by coogaruk on Jan 6, 2021 18:14:52 GMT
They have moved on 2 weeks in one day. Really into the tail now. The problem for those still invested is that all the property secured loans have been sold and the proceeds distributed to the RYIQ leaving them holding a relatively toxic portfolio of unsecured loans, many of which will have been to people who have already lost their jobs or shortly will. That's a tad over-pessimistic in my view.
|
|
k6
Posts: 248
Likes: 145
|
Post by k6 on Jan 6, 2021 18:53:14 GMT
Hi Apology if this is wrong chat for ma question. So finally got all investment released. I think it took over 6 months, ish
All was in ISA, and I just kept withdrawing straight into my bank account. In order to preserve the ISA wrapper do I need to put same amount back just before tax year ends ?
What would ( or should ) be the best plan of action ? Thanks in advance
|
|
|
Post by Ace on Jan 6, 2021 19:46:43 GMT
Hi Apology if this is wrong chat for ma question. So finally got all investment released. I think it took over 6 months, ish All was in ISA, and I just kept withdrawing straight into my bank account. In order to preserve the ISA wrapper do I need to put same amount back just before tax year ends ? What would ( or should ) be the best plan of action ? Thanks in advance RS's ISA is flexible, so you can retain your fund's ISA status by replacing them back in to your RS ISA account across the end of tax year boundary (April 5th/6th). There's no need to wait for the year end though. You could replace the funds you've already withdrawn now and complete the ISA transfer form from your new ISA provider to put those funds to work again now. Incidentally, I had an ISA transfer from Assetz Capital to CrowdProperty complete today. I emailed the form to CP 4 days ago, but they only went back to work on Monday, so it was effectively completed in under 3 days. We'll done AC and CP.
|
|
k6
Posts: 248
Likes: 145
|
Post by k6 on Jan 6, 2021 20:23:25 GMT
Hi Apology if this is wrong chat for ma question. So finally got all investment released. I think it took over 6 months, ish All was in ISA, and I just kept withdrawing straight into my bank account. In order to preserve the ISA wrapper do I need to put same amount back just before tax year ends ? What would ( or should ) be the best plan of action ? Thanks in advance RS's ISA is flexible, so you can retain your fund's ISA status by replacing them back in to your RS ISA account across the end of tax year boundary (April 5th/6th). There's no need to wait for the year end though. You could replace the funds you've already withdrawn now and complete the ISA transfer form from your new ISA provider to put those funds to work again now. Incidentally, I had an ISA transfer from Assetz Capital to CrowdProperty complete today. I emailed the form to CP 4 days ago, but they only went back to work on Monday, so it was effectively completed in under 3 days. We'll done AC and CP. Right , Thanks Ace !!, all make sense. If there are any charges for transferring ISA > ISA then I will go for a plan to deposit before end of the Tax year. As there was not much of interest from RS anyway. And this will have to be same with FS and MT, as I kept withdrawing small amount whenever got interest back ( excluding Ly and Col ). Yeap, I am in all of them Thanks again Ace
|
|
|
Post by Ace on Jan 6, 2021 20:41:35 GMT
RS's ISA is flexible, so you can retain your fund's ISA status by replacing them back in to your RS ISA account across the end of tax year boundary (April 5th/6th). There's no need to wait for the year end though. You could replace the funds you've already withdrawn now and complete the ISA transfer form from your new ISA provider to put those funds to work again now. Incidentally, I had an ISA transfer from Assetz Capital to CrowdProperty complete today. I emailed the form to CP 4 days ago, but they only went back to work on Monday, so it was effectively completed in under 3 days. We'll done AC and CP. Right , Thanks Ace !!, all make sense. If there are any charges for transferring ISA > ISA then I will go for a plan to deposit before end of the Tax year. As there was not much of interest from RS anyway. And this will have to be same with FS and MT, as I kept withdrawing small amount whenever got interest back ( excluding Ly and Col ). Yeap, I am in all of them Thanks again Ace You're welcome. There are no fees for transferring out of RS. You'll need to check with your new provider as to whether they will charge for transferring in; most don't charge in my experience (I've transferred in to CrowdProperty, Landlord Invest, Assetz Capital, Unbolted, Capital Riseand ABLrate. None of them charged, though I think ABLrate do if its under £2,500).
|
|
k6
Posts: 248
Likes: 145
|
Post by k6 on Jan 6, 2021 21:31:58 GMT
Right , Thanks Ace !!, all make sense. If there are any charges for transferring ISA > ISA then I will go for a plan to deposit before end of the Tax year. As there was not much of interest from RS anyway. And this will have to be same with FS and MT, as I kept withdrawing small amount whenever got interest back ( excluding Ly and Col ). Yeap, I am in all of them Thanks again Ace You're welcome. There are no fees for transferring out of RS. You'll need to check with your new provider as to whether they will charge for transferring in; most don't charge in my experience (I've transferred in to CrowdProperty, Landlord Invest, Assetz Capital, Unbolted, Capital Riseand ABLrate. None of them charged, though I think ABLrate do if its under £2,500). Yes it will be ABl , but will double check with them . Thanks again.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,033
Likes: 1,857
|
Post by littleoldlady on Jan 7, 2021 8:50:18 GMT
They have moved on 2 weeks in one day. Really into the tail now. The problem for those still invested is that all the property secured loans have been sold and the proceeds distributed to the RYIQ leaving them holding a relatively toxic portfolio of unsecured loans, many of which will have been to people who have already lost their jobs or shortly will. That's a tad over-pessimistic in my view. I should perhaps have emphasised the word "relatively" as I fail to see how this statement can be challenged. Does anyway seriously claim that an unsecured portfolio is no less secure than one secured against property - at least on a respectable platform like RS. Here is a loan taken at random: Original loan term12 months Loan term remaining7 months Loan type Interest only Borrower initial loan amount£75,000.00 The amount of capital and interest yet to be repaid £75,000.00 The annual interest cost to the borrower 20.0% The overall annualised cost to the borrower, including fees 21.9% Including payments to the Provision Fund, RateSetter, partners and brokers Fees p.a. 18.8% Has the borrower defaulted? Yes Does RateSetter consider that the borrower will repay in full? Yes Security backed No Security Interest enforcedNo
|
|
|
Post by RateSetter on Jan 7, 2021 9:03:13 GMT
Good morning. Yesterday we delivered £1.8m and the full update is below.
|
|
beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
|
Post by beagle on Jan 7, 2021 9:07:03 GMT
Good morning. Yesterday we delivered £1.8m and the full update is below. and my 6k from early Sept and 17k from wife throughout August... do we not get our money back or do we not qualify after nearly 2.5 million of investment?
|
|