Ratesetter

Aidanmc

wizzards said:

Aidanmc said:

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

Thanks....just set the rate to 8%, and will withdraw when the repayments become available.

I'm also redirecting my 5 year repayments to holding acc, and withdrawing when available.

I would put in a withdrawal request as well.  It doesn't stop you making adhoc withdrawal requests as well for anything that happens to end up in the "holding" or "on market".  It just decreases the amount left "queuing"  This is what I have done for the access, the 5 year accounts.  The queue on the 5 Year is probably in the thousands so you probably won't have to wait as long as the Access.

Isn't there a fee to release the 5yr product? Is it only possible to release the whole investment ie. access and 5yr?

Have approx £750 in 5yr with 35months remaining,  and £300 in Access.

masonic

Aidanmc said:

wizzards said:

Aidanmc said:

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

Thanks....just set the rate to 8%, and will withdraw when the repayments become available.

I'm also redirecting my 5 year repayments to holding acc, and withdrawing when available.

I would put in a withdrawal request as well.  It doesn't stop you making adhoc withdrawal requests as well for anything that happens to end up in the "holding" or "on market".  It just decreases the amount left "queuing"  This is what I have done for the access, the 5 year accounts.  The queue on the 5 Year is probably in the thousands so you probably won't have to wait as long as the Access.

Isn't there a fee to release the 5yr product? Is it only possible to release the whole investment ie. access and 5yr?

Have approx £750 in 5yr with 35months remaining,  and £300 in Access.

Yes there is a so called 'sell out' fee for 5 year. You can release part of your investment in the 5 year market should you choose to do so. I chose to pay the fee so I could exit and invest in S&S at depressed prices, and it turned out to be well worth the expense. I'm not sure I'd wish to do so today.

wizzards

masonic said:

Aidanmc said:

wizzards said:

Aidanmc said:

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

Thanks....just set the rate to 8%, and will withdraw when the repayments become available.

I'm also redirecting my 5 year repayments to holding acc, and withdrawing when available.

I would put in a withdrawal request as well.  It doesn't stop you making adhoc withdrawal requests as well for anything that happens to end up in the "holding" or "on market".  It just decreases the amount left "queuing"  This is what I have done for the access, the 5 year accounts.  The queue on the 5 Year is probably in the thousands so you probably won't have to wait as long as the Access.

Isn't there a fee to release the 5yr product? Is it only possible to release the whole investment ie. access and 5yr?

Have approx £750 in 5yr with 35months remaining,  and £300 in Access.

Yes there is a so called 'sell out' fee for 5 year. You can release part of your investment in the 5 year market should you choose to do so. I chose to pay the fee so I could exit and invest in S&S at depressed prices, and it turned out to be well worth the expense. I'm not sure I'd wish to do so today.

There is a fee as masonic says.  You could always put in a request and see how long the queue is.  It will also estimate the fee as far as I recall.   I have 1500 approx persons queued in front of me in the 5 Year and by the time I probably reach the front of the queue I would have invested for the 5 Years anyway. 
Until you put in a request you can't see how many persons are queued in front.  You can of course ring them up and ask them.  Not sure they will give that info though.  Given the amount you have invested is not huge amount and you have 3 years remaining you could just stick with it or put in a request to see how many persons are in the queue.  You can always cancel it.   Also do you have a plan for the cash if you withdraw it that would give a better return unless of course you want to spend it due to some change in circumstances. No idea what would be the state of Ratesetter in 3 years time of course.

Aidanmc

I don't really have any plan for the cash as such. Might just leave it for now and withdraw the repayments as they come in. Looking back i don't really know why i invested in the 5yr market at all, the 1 year would have been sufficient as i really only invested for the bonus offer!