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Post by magnet22 on Mar 18, 2020 12:51:07 GMT
Thank you for helpful sharing of views on Ratesetter above!
Has anyone had experience before or now on transferring a Ratesetter Innovative Finance ISA to an S&S ISA provider? Do you know how long the process roughly takes and how quickly Ratesetter moves here?
Thanks!
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ashtondav
Member of DD Central
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Post by ashtondav on Mar 18, 2020 13:15:24 GMT
Well, they can only transfer cash and that means selling your loans.
And that ain’t happening.
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Post by Deleted on Mar 18, 2020 13:37:37 GMT
Well, they can only transfer cash and that means selling your loans. And that ain’t happening. It is happening, it's just taking over a week.
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Post by stevepn on Mar 18, 2020 17:41:58 GMT
Thank you for helpful sharing of views on Ratesetter above!
Has anyone had experience before or now on transferring a Ratesetter Innovative Finance ISA to an S&S ISA provider? Do you know how long the process roughly takes and how quickly Ratesetter moves here?
Thanks!
I moved my Ratesetter IF ISA to another P2P and it took less than a week from beginning to end, the time Ratesetter took after receiving notification from my new P2P was a mattter of hours and it was ready for investing.
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Post by shanghaiscouse on Mar 18, 2020 18:15:34 GMT
I am quite concerned by what RS said in the update of 17 March, they said they "delivered" £0.5m on Monday and £1.2m on Tuesday. Is that it? These seem like miniscule amounts. I just put a release request in for well over six figures. I am facing huge losses on FC and now this!
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Post by RateSetter on Mar 18, 2020 19:00:23 GMT
Good evening everyone. We have updated the RateSetter Notice on processing investment releases: the amount delivered on Monday was £0.5m, yesterday we delivered £1.3m, and today we will deliver more than £1m. We expect the amount we deliver each day will increase, with some day-to-day fluctuations around the upward trend.
The full Notice is copied below for your reference and the updated figures are in the second paragraph. We will continue to keep you updated.
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r00lish67
Member of DD Central
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Post by r00lish67 on Mar 18, 2020 19:05:28 GMT
Good evening everyone. We have updated the RateSetter Notice on processing investment releases: the amount delivered on Monday was £0.5m, yesterday we delivered £1.3m, and today we will deliver more than £1m. We expect the amount we deliver each day will increase, with some day-to-day fluctuations around the upward trend. The full Notice is copied below for your reference and the updated figures are in the second paragraph. We will continue to keep you updated. Good work, that's very good to hear.
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Post by shanghaiscouse on Mar 18, 2020 22:03:40 GMT
Good? These are TINY amounts. They claim £3.8billion of loans.
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Post by Deleted on Mar 18, 2020 22:16:47 GMT
Ratesetter, could you please also show where you are up to in the RYI queue as well as the amount released eg something like "Today we released funds requested on 9-10 March".
I'm sure lots of lenders would agree this would be useful?
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jlend
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Post by jlend on Mar 18, 2020 22:35:21 GMT
Good? These are TINY amounts. They claim £3.8billion of loans. The figure you quote is the total number of loans lent over 10 years, not the size of the current loan book. Not everyone is trying to sell. Many are keeping their investment, others are adding money. RS successfully managed a liquidation challenge in the past. We all need to be patient given the wider issues dealing with the virus.
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ashe
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Post by ashe on Mar 18, 2020 22:36:26 GMT
Good? These are TINY amounts. They claim £3.8billion of loans. Perhaps, but for obvious reasons, comparing total amount of loans (some spread out over 1800 days) to a 1 day figure is slightly daft.
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r00lish67
Member of DD Central
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Post by r00lish67 on Mar 18, 2020 22:42:15 GMT
Good? These are TINY amounts. They claim £3.8billion of loans. Perhaps, but for obvious reasons, comparing total amount of loans (some spread out over 1800 days) to a 1 day figure is slightly daft. Also, that's total loans presumably of all time , as the currently outstanding loanbook as per their stats is about a fifth of that - £863m. Those borrowers still need that money, probably more than ever in many cases, so we shouldn't expect the pace to be electric.
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Post by RateSetter on Mar 19, 2020 17:10:52 GMT
Good afternoon everyone. We have again updated the RateSetter Notice on processing investment releases: the amount delivered on Monday was £0.5m; on Tuesday we delivered £1.3m; the amount delivered yesterday has been revised up from £1m to £1.2m; and today we expect to deliver £0.8m.
As mentioned before, we expect the amount delivered each day will increase, with day-to-day fluctuations around the upward trend.
Full text of the Notice for reference:
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Post by Deleted on Mar 19, 2020 17:17:41 GMT
Good afternoon everyone. We have again updated the RateSetter Notice on processing investment releases: the amount delivered on Monday was £0.5m; on Tuesday we delivered £1.3m; the amount delivered yesterday has been revised up from £1m to £1.2m; and today we expect to deliver £0.8m. As mentioned before, we expect the amount delivered each day will increase, with day-to-day fluctuations around the upward trend. Full text of the Notice for reference: For the amount delivered today, when were those RYIs requested please?
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jlend
Member of DD Central
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Post by jlend on Mar 19, 2020 17:33:14 GMT
Good afternoon everyone. We have again updated the RateSetter Notice on processing investment releases: the amount delivered on Monday was £0.5m; on Tuesday we delivered £1.3m; the amount delivered yesterday has been revised up from £1m to £1.2m; and today we expect to deliver £0.8m. As mentioned before, we expect the amount delivered each day will increase, with day-to-day fluctuations around the upward trend. Full text of the Notice for reference: Great news. Also good to see you are still lending, albeit at a lower level, for the long term future of the platform.
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