sd2
Member of DD Central
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Post by sd2 on Jul 3, 2020 14:17:14 GMT
So so slow. Access has been stuck at request from the 12th march for ages. Oh well at least I am getting 3.2%. Could be worse 1.5%! You have no idea what your final outcome will be. You assume the PF will be sufficient to avoid them having to go into capital to replenish it. In my view this is an impossibility, they will have to go into capital. . You have no idea either what the final outcome will be. Stop gobbing it off or are you using your crystal ball again? I assume nothing. I see you are making things up again, your good at that. "An impossibility" Again your view (in your opinion) cannot be wrong. You are so sad. PPS just had all my money out of the 5 year (less my <£10) despite what your crystal ball said.
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Post by RateSetter on Jul 3, 2020 16:03:38 GMT
Good afternoon. Today, we have delivered £0.7m and the full update follows below:
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pioruns
New Member
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Post by pioruns on Jul 3, 2020 17:31:47 GMT
29th March on 5year market, last week it was 23th March. That's significant step forward. Hopefully I will get mine soon.
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Greenwood2
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Post by Greenwood2 on Jul 3, 2020 19:20:05 GMT
Doesn't anyone have enough faith in RS to just leave their money in rather than have to queued forever?
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Post by drphil on Jul 3, 2020 19:35:34 GMT
Best release performance for 2 months and we're on the 13th March for Access et al.
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jlend
Member of DD Central
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Post by jlend on Jul 3, 2020 21:18:12 GMT
Doesn't anyone have enough faith in RS to just leave their money in rather than have to queued forever? All the sellouts are funded by other people reinvesting. Around 5 million a week of new loans are still being written in addition to this by people reinvesting. The loan book is striking, but there is a fair chunk of reinvestment still going on.
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sd2
Member of DD Central
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Post by sd2 on Jul 3, 2020 21:32:12 GMT
Best release performance for 2 months and we're on the 13th March for Access et al. Excellent, although my access withdrawal is the 15th so in reality a long way to go. I did get all my money out of the 5 year today. On the other hand I lost my keys. Can't have everything.
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sd2
Member of DD Central
Posts: 621
Likes: 224
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Post by sd2 on Jul 3, 2020 21:43:01 GMT
Doesn't anyone have enough faith in RS to just leave their money in rather than have to queued forever? Firstly I haven't got faith in any p2p company or any company on the stockmarket for that matter but I like the risk reward ratio on the stockmarket at the moment. Furthermore it is the 4th July tomorrow and I need beer money, lots of it.
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sd2
Member of DD Central
Posts: 621
Likes: 224
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Post by sd2 on Jul 4, 2020 18:39:42 GMT
In the Brown Cow need more money ratesetter help
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Post by p2plender on Jul 4, 2020 23:43:14 GMT
sounds exciting in there...
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Post by davee39 on Jul 5, 2020 9:04:17 GMT
Re - faith in Ratesetter:
I am in 5 yr and have been withdrawing interest and repayments for several years. My RYI went in on 1st April, when it was clear to me that the pf would not cope with Covid related defaults.
Over the years the pf protection cover has steadily reduced. When I started investing the cover ratio was quoted at 1.8 (180%) and it was real cash. Before the recent crisis it was about 115%, with only about 1/3 in cash.
RS have found the fees needed for the provision fund have made loans uncompetative, in addition they have entered into various murky lending markets to try to boost income. This has not been a success.
I suspect the business is being closely watched by the FCA, and they have been banned from taking on new business. A capital reduction is probably inevitable.
When the ship starts to sink, head for the lifeboat.
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Post by scepticalinvestor on Jul 6, 2020 8:27:33 GMT
Re - faith in Ratesetter: I am in 5 yr and have been withdrawing interest and repayments for several years. My RYI went in on 1st April, when it was clear to me that the pf would not cope with Covid related defaults. Over the years the pf protection cover has steadily reduced. When I started investing the cover ratio was quoted at 1.8 (180%) and it was real cash. Before the recent crisis it was about 115%, with only about 1/3 in cash.RS have found the fees needed for the provision fund have made loans uncompetative, in addition they have entered into various murky lending markets to try to boost income. This has not been a success. I suspect the business is being closely watched by the FCA, and they have been banned from taking on new business. A capital reduction is probably inevitable. When the ship starts to sink, head for the lifeboat.
Coverage of 180% (100% real-cash) to 115% (just 33% real-cash and the rest made up of predicted future inflows?).
I confess to never having fully understood how the coverage ratio was actually calculated but if what you say is accurate, it's looks like a fairly meaningless number based on convenient assumptions.
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sd2
Member of DD Central
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Post by sd2 on Jul 6, 2020 9:34:34 GMT
sounds exciting in there... Still in the recovery stage. Booking a bus for next Saturday, might as well abuse my body for a while.
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Post by saintpeter on Jul 6, 2020 11:08:19 GMT
Doesn't anyone have enough faith in RS to just leave their money in rather than have to queued forever? I wouldn't risk it but why not do both, a RYI request and filter money out as repayments come in. I am doing both and have managed to remove 40% of my capital via repayments since April as I know my RYI will take forever (if ever). I can see my Access RYI request reducing daily as I make withdrawals. This also helps other RYIs as it means less money in the RYI queue.
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savernake
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Post by savernake on Jul 6, 2020 12:03:00 GMT
Doesn't anyone have enough faith in RS to just leave their money in rather than have to queued forever? I wouldn't risk it but why not do both, a RYI request and filter money out as repayments come in. I am doing both and have managed to remove 40% of my capital via repayments since April as I know my RYI will take forever (if ever). I can see my Access RYI request reducing daily as I make withdrawals. This also helps other RYIs as it means less money in the RYI queue. It doesn't really help other RYI's at all. The repayments you are withdrawing daily would otherwise have been used to provide much needed liquidity to the RYI queue. If people just allow their repayments to be re-invested the RYI queue would be moving more quickly for everyone.
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