savernake
Member of DD Central
Posts: 174
Likes: 142
|
Post by savernake on Jul 6, 2020 13:37:12 GMT
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 . So you advocate that no one should withdraw repaid capital/interest? Yes sure.Not at all. I'm just disputing the view that withdrawing capital/interest repayments is helping the RYI queue. It isn't.
|
|
|
Post by westcountryfunder on Jul 6, 2020 15:01:15 GMT
Re - faith in Ratesetter: I suspect the business is being closely watched by the FCA, and they have been banned from taking on new business. Do you have any solid evidence for this sweeping statement? As for being closely watched by the FCA, that'll be a first then, judging by the events leading up to the shenanigans going on with other P2P platforms in administration or liquidation at present!
|
|
|
Post by RateSetter on Jul 6, 2020 16:07:00 GMT
Good afternoon all. Today we have delivered £0.7m and the full update follows below:
|
|
|
Post by oppsididitagain on Jul 6, 2020 20:37:37 GMT
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.So you advocate that no one should withdraw repaid capital/interest? Yes sure. I have my reinvestment settings to 8%, so far I havent lent any money, I wish I was and help the RYI - but no one wants to borrow from me at that rate. I did get matched in the 1 year at 8.3% Mid march for a few K but nothing since, and in April I lent at 4.8% in the access for £500 ish In the present climate Im not going to lend at 3% AKA 1.5% for 2020 as I dont see that being a good risk reward.
|
|
|
Post by saintpeter on Jul 6, 2020 22:07:06 GMT
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. It does help. My RYI request amount has gone down. I imagine quite a lot of people's RYIs requests have gone down because they are taking money out. That means less needing to be processed. I have taken circa 40% out this way. If all my money comes out via capital/interest returns then my RYI won't need to be processed since I will have done it myself. The next person in the RYI queue gets dealt with. I don't have to rely on someone taking over my loans. I just take capital and interest out as it is naturally repaid. This money is not recycled, it is cancelled out as the loan part is repaid.
|
|
|
Post by Badly Drawn Stickman on Jul 6, 2020 22:25:55 GMT
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. It does help. My RYI request amount has gone down. I imagine quite a lot of people's RYIs requests have gone down because they are taking money out. That means less needing to be processed. I have taken circa 40% out this way. If all my money comes out via capital/interest returns then my RYI won't need to be processed since I will have done it myself. The next person in the RYI queue gets dealt with. I don't have to rely on someone taking over my loans. I just take capital and interest out as it is naturally repaid. This money is not recycled, it is cancelled out as the loan part is repaid. I would suggest a fairer description is that has a relatively neutral effect. savernake is quite correct to suggest that reinvesting would have a positive effect as it removes people from the queue, if that is a good policy for people at the end of the queue is clearly a different conversation. I suspect most of us would like to reduce exposure at this time and clearly withdrawing repaid money is the most promising way to achieve that. Suggesting we are great benefactors to others by doing it might just be stretching it a touch.
|
|
|
Post by saintpeter on Jul 7, 2020 8:56:25 GMT
It does help. My RYI request amount has gone down. I imagine quite a lot of people's RYIs requests have gone down because they are taking money out. That means less needing to be processed. I have taken circa 40% out this way. If all my money comes out via capital/interest returns then my RYI won't need to be processed since I will have done it myself. The next person in the RYI queue gets dealt with. I don't have to rely on someone taking over my loans. I just take capital and interest out as it is naturally repaid. This money is not recycled, it is cancelled out as the loan part is repaid. I would suggest a fairer description is that has a relatively neutral effect. savernake is quite correct to suggest that reinvesting would have a positive effect as it removes people from the queue, if that is a good policy for people at the end of the queue is clearly a different conversation. I suspect most of us would like to reduce exposure at this time and clearly withdrawing repaid money is the most promising way to achieve that. Suggesting we are great benefactors to others by doing it might just be stretching it a touch. Hmm. Well, I am taking out money that has been repaid, whereas RYI are loan parts that need to be taken on by someone else. If I were to keep my money in the system to be lent out again, then someone would have to do the same for me, it would also mean I wouldn't reduce my holding which is the whole point of doing a RYI. Removing capital+interest as it gets paid back is neutral as it is not recycled money. By drip feeding money out I also reduce the amount of RYI that needs to be returned to me. Everyone doing this is reducing the RYI queue of money without affecting anyone since it is money which is naturally returned by the borrower and not recycled into the system. If the system only works if there are people at the bottom of the pyramid to take on new/recycled loan parts, then, I think there is a name for such schemes and apparently Ratesetter is not a pyramid or ponzi scheme ?
|
|
johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Jul 7, 2020 10:26:24 GMT
I would suggest a fairer description is that has a relatively neutral effect. savernake is quite correct to suggest that reinvesting would have a positive effect as it removes people from the queue, if that is a good policy for people at the end of the queue is clearly a different conversation. I suspect most of us would like to reduce exposure at this time and clearly withdrawing repaid money is the most promising way to achieve that. Suggesting we are great benefactors to others by doing it might just be stretching it a touch. Hmm. Well, I am taking out money that has been repaid, whereas RYI are loan parts that need to be taken on by someone else. If I were to keep my money in the system to be lent out again, then someone would have to do the same for me, it would also mean I wouldn't reduce my holding which is the whole point of doing a RYI. Removing capital+interest as it gets paid back is neutral as it is not recycled money. By drip feeding money out I also reduce the amount of RYI that needs to be returned to me. Everyone doing this is reducing the RYI queue of money without affecting anyone since it is money which is naturally returned by the borrower and not recycled into the system. If the system only works if there are people at the bottom of the pyramid to take on new/recycled loan parts, then, I think there is a name for such schemes and apparently Ratesetter is not a pyramid or ponzi scheme ? If every investor on the platform withdrew their repayments daily instead of allowing them to be re-invested automatically then the RYI queue would grind to a complete halt because without any new investments, there isn't any money to be re-matched to another person.
|
|
|
Post by stevepn on Jul 7, 2020 10:37:25 GMT
So you advocate that no one should withdraw repaid capital/interest? Yes sure. I have my reinvestment settings to 8%, so far I havent lent any money, I wish I was and help the RYI - but no one wants to borrow from me at that rate. I did get matched in the 1 year at 8.3% Mid march for a few K but nothing since, and in April I lent at 4.8% in the access for £500 ish In the present climate Im not going to lend at 3% AKA 1.5% for 2020 as I dont see that being a good risk reward. What bit of money I have left in Ratesetter is in Access, I have it set at 8% and at 5.30am I got up to get ready for work and my money had already been re-invested. So I now have to wait another month to try and get my money out.
|
|
|
Post by oppsididitagain on Jul 7, 2020 11:52:31 GMT
I have my reinvestment settings to 8%, so far I havent lent any money, I wish I was and help the RYI - but no one wants to borrow from me at that rate. I did get matched in the 1 year at 8.3% Mid march for a few K but nothing since, and in April I lent at 4.8% in the access for £500 ish In the present climate Im not going to lend at 3% AKA 1.5% for 2020 as I dont see that being a good risk reward. What bit of money I have left in Ratesetter is in Access, I have it set at 8% and at 5.30am I got up to get ready for work and my money had already been re-invested. So I now have to wait another month to try and get my money out. I think you might be getting confused with new money and your active loans. I dont believe any new money is getting re-invested at 8% . Check your transactions history and also new lending tab.
|
|
chris1200
Member of DD Central
Posts: 827
Likes: 508
|
Post by chris1200 on Jul 7, 2020 12:19:40 GMT
It's like Groundhog Day on this forum these days...
|
|
ceejay
Posts: 972
Likes: 1,149
|
Post by ceejay on Jul 7, 2020 12:20:21 GMT
It's like Groundhog Day on this forum these days...
|
|
|
Post by RateSetter on Jul 7, 2020 16:05:55 GMT
Good afternoon. Today we have delivered £0.7m 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 Jul 7, 2020 17:09:01 GMT
It is certainly looping song.
That said, 5 year will really run away quickly as the peak has gone I think it will move very fast now (given the current momentum).
|
|
|
Post by saintpeter on Jul 8, 2020 9:45:08 GMT
Hmm. Well, I am taking out money that has been repaid, whereas RYI are loan parts that need to be taken on by someone else. If I were to keep my money in the system to be lent out again, then someone would have to do the same for me, it would also mean I wouldn't reduce my holding which is the whole point of doing a RYI. Removing capital+interest as it gets paid back is neutral as it is not recycled money. By drip feeding money out I also reduce the amount of RYI that needs to be returned to me. Everyone doing this is reducing the RYI queue of money without affecting anyone since it is money which is naturally returned by the borrower and not recycled into the system. If the system only works if there are people at the bottom of the pyramid to take on new/recycled loan parts, then, I think there is a name for such schemes and apparently Ratesetter is not a pyramid or ponzi scheme ? If every investor on the platform withdrew their repayments daily instead of allowing them to be re-invested automatically then the RYI queue would grind to a complete halt because without any new investments, there isn't any money to be re-matched to another person. Sounds awfully like a ponzi scheme in that case.
|
|