chris1200
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Post by chris1200 on Jul 31, 2020 10:45:50 GMT
Sorry - just to confirm for my own benefit - are you saying you got to the front of the RYI queue and you were able to get RS to process contracts with less than £10 remaining too? i have had this before and they did it no issues. I am not at the front right now but a very good friend was ( Monday) and they sorted exactly this for him. he had circa 140 pounds and they resolved the matter and that was that (took a day or so) 'Before' as in an RYI you requested in normal times? This is very nice news (selfishly for me, at least). Thanks, beagle. Has anyone else tried this/will you try it and report back to us?
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robski
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Post by robski on Jul 31, 2020 10:53:49 GMT
£160k (exactly) appeared in the 5 year lender queue at 4.3% Likely that will boost the RYI by that amount for 5 year today.
Low rate APM has been cleaned out, I missed if there was a large borrower order. But weekly volume jumped by approx £300k so i believe thats what it was since 5 year is unchanged (bar the addition of the £160k exactly)
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robski
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Post by robski on Jul 31, 2020 11:06:06 GMT
5 year is RYI processing from what i can tell No borrower but lender disappearing
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beagle
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Post by beagle on Jul 31, 2020 11:23:29 GMT
i have had this before and they did it no issues. I am not at the front right now but a very good friend was ( Monday) and they sorted exactly this for him. he had circa 140 pounds and they resolved the matter and that was that (took a day or so) 'Before' as in an RYI you requested in normal times? This is very nice news (selfishly for me, at least). Thanks, beagle . Has anyone else tried this/will you try it and report back to us? yes before in normal times but also back in March around 20th - took some 5 year out and they released the sub 10 contracts too. they had no issue with it and helped. i purely stated that if i cant take this money out it could roll for ever and they got it and released it.
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aju
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Post by aju on Jul 31, 2020 11:26:15 GMT
'Before' as in an RYI you requested in normal times? This is very nice news (selfishly for me, at least). Thanks, beagle . Has anyone else tried this/will you try it and report back to us? yes before in normal times but also back in March around 20th - took some 5 year out and they released the sub 10 contracts too. they had no issue with it and helped. i purely stated that if i cant take this money out it could roll for ever and they got it and released it. Hmm! that's an interesting thought I wonder if they ever thought of that one when they redesigned it?.
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aju
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Post by aju on Jul 31, 2020 11:30:38 GMT
5 year is RYI processing from what i can tell No borrower but lender disappearing I think I see what you and Chris are getting at now, I think!
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robski
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Post by robski on Jul 31, 2020 11:32:59 GMT
5 year is RYI processing from what i can tell No borrower but lender disappearing Interesting saw £13 borrower for a few secs in 5 year, by the time I refreshed it was gone so I wonder if borrower offers for RYI do appear but only for seconds, even fractions of seconds as they match, I cant imagine RS are allowing new business for £13
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Jul 31, 2020 11:49:18 GMT
yes before in normal times but also back in March around 20th - took some 5 year out and they released the sub 10 contracts too. they had no issue with it and helped. i purely stated that if i cant take this money out it could roll for ever and they got it and released it. Hmm! that's an interesting thought I wonder if they ever thought of that one when they redesigned it?. I am sure they wanted to roll the funds they make money on it and explain the funds we have make us money too. as a concept it works as we all make money but under strain it buckles and there is no clear exit. however, they were super easy going on the sub 10 contracts and got the job done. lets face it - if you put 100 in and it splits over 11 contracts (all sub 10) you will be bound for life more or less unless you get lucky or wait years and years. hence they seemed to be fair on it.
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robski
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Post by robski on Jul 31, 2020 12:29:08 GMT
From my calcs almost exactly £400k released from 5 year No sign of any movement other than a few borrower orders matching in APM
Weekly lending figures only moved by the amount the APM moved by, definately didnt reflect the RYIs from 5 year
So 1 year excluded I think its likely another £0.4M day, but if its higher thats almost certainly I think 1 year effect
Took approx 1.25 hours to release that RYI so there is no issue with time it would seem, so seems RS controlling the RYI based on funds
5 year just dipped into 6.1%, by about 3.5k
Max already up to 5.5% from the trickle of new loans could possibly hit 6% or more at this rate today, weekend could be interesting
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up
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Post by up on Jul 31, 2020 12:30:40 GMT
(I also saw the fleeting £13 borrower - and agree that RYIs do not appear as borrower offers but are almost certainly satisfied from Lender offers in the same market)
I've been watching 5Y market closely as had another RYI process today after two yesterday. Today's started matching almost immediately that status changed to Processing. There was possibly a lull on lender offers reducing before and after - perhaps there are pauses between RYIs being processed.
£25k was released over about 5minutes around 12:20 whilst Lender offers @4.3% reduced £101.5k to £78.3k which is is slightly short - most likely my mistake taking snapshots - or possibly new lender offer added - or some other lag.
This morning this RYI had QIF:18 - the lender queue reduced by about £74k as those RYIs ahead were processed (some may have been cancelled, and there may have been new borrowers on 5Y).
As the RYI processed the Amount field on the RYI dashboard reduced in realtime, the Edit Request was grayed - and the QIF was unchanged.
Note I think individual contracts are hard to inspect once RYI'd - they do not appear in "Your Repaid money" tables. It is possible to access the contract details but only if you have the url with contract specific guid (you can get contract Cxx numbers from Transaction list but not the Guid) - so possibly worth capturing the "View" links from the "Your Money on loan" tables before RYI processed.
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up
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Post by up on Jul 31, 2020 14:32:05 GMT
£160k (exactly) appeared in the 5 year lender queue at 4.3% Likely that will boost the RYI by that amount for 5 year today. Low rate APM has been cleaned out, I missed if there was a large borrower order. But weekly volume jumped by approx £300k so i believe thats what it was since 5 year is unchanged (bar the addition of the £160k exactly) robski Did you happen to keep a snapshot of the lender queue with the £160k addition? I dont doubt it and only looked at 10:40 and 12:00 so could easily have missed (I was only await my RYI going through at 12:20). But it would be interesting to see lender order counts around 10:50. I have for upto 4.3% 10:40 £174.6k 2805 12:00 £141.4k 2178 12:15 £101.5k 1412 12:22 £78.3k 1090 If the 160k was a single investor order just after 10:40 - then by 12:00/12:15/12:22 all of the 2805 original orders would have been consumed - the order count would have been 1 - with the 160k being at the back of the 4.3% queue. (Queue order counts are not always accurate - but did seem to update realistically today). If the 160k was a larger number of orders then the lender queue counts could make sense - but then what is the source of those funds all at the same time. Even if was some odd late settled loan repayment then we'd see more lender offers not at market rate - those did not change significantly. There are probably various innocent explanations - it could even be the 160k was added and cancelled. Or other mistake. So, not wanting to stir, but since you observed around 10:50 that A/P/M activity had just completed and that 5Y RYIs just commenced - it would be possible that the £160k was RS topping up 5Y lender queue from A/P/M excess lender queue (ie they were not matched just relocated temporarily just before the RYI run) and whilst we see 5Y Lender offers fulfilling 5Y RYI we dont realise some are proxy for A/P/M lenders. We dont know that £160k of newly created A/P/M contracts are against Borrower loans that were 5Y market previously nor whether those are now formed at A/P/M rates. Coincidentally if original RYI would have been £240k the £160k brings neatly up to £400k as yesterday. I stress I think this very unlikely and I'd be surprised were this the case, but interested since we have been scrutinising the market figures. (separately re your Market Volume calcs - note today 1Y saw at least £130k matched - I did not see if borrower offers or maybe RYI)
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Post by RateSetter on Jul 31, 2020 16:07:19 GMT
Good afternoon all. Today we have delivered £0.3m and the full update is below:
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adrian77
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Post by adrian77 on Jul 31, 2020 16:53:25 GMT
personally I can't square this with the very low number of cleared loans so unless the average was 200K I think this is mainly down to cancelled and completed loans - just my opinion.
Disappointing as I think the lowest weekly total to date ?..looks like a downward trend to me...
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Post by Ace on Jul 31, 2020 17:33:44 GMT
personally I can't square this with the very low number of cleared loans so unless the average was 200K I think this is mainly down to cancelled and completed loans - just my opinion. Disappointing as I think the lowest weekly total to date ?..looks like a downward trend to me... It looks like the vast majorly has gone to the 5 year queue. I've moved 215 places at the front of that queue, so would only need an average of a little over £10k per release to account for the whole £2.3m. EDIT: Rest assured that I will be bringing the average RYI amount right down next week
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adrian77
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Post by adrian77 on Jul 31, 2020 17:37:01 GMT
thanks - good point - I guess RS are doing this as it generates income ?
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