Ratesetter Release Delays

firestone

Based on my own account and posts on the p2pindie forum it might be worth checking your account if you hold any funds in the 1 year product as RS seem to be repaying all the loans up early ( but not heard from RS that thats whats happening?)

firestone

RS property portfolio sold to Shawbrook Bank so 1 year money is back in most peoples account (either holding or reinvestment) by the look of it

masonic

That should unblock the queue.

bhjm

not sure if co-incident
but i had an investment with RS and was in the queue far far behind. like position 3500 or so.
last week i clicked again and "release investment" today 3/4 of the amount has been release. For the rest, I jumped in the queue to 292 requests in front of you. 

Aceace

It's no coincidence. There's currently £55M of the property loan sale cash waiting to be reinvested in the A/P/M accounts. Presumably most of this is from people that are unaware that they could release their cash for free now, but if they don't do it soon it will be reinvested in the loans that those in the RYI queue are waiting to get rid of. So, most RYI requests should go through quite quickly now.

wizzards

I just got 98% of my cash yesterday.  I had been taking out what I could in the last few months as I have other new homes for it.  None of the homes are fantastic though but that's the state of the market.

Grogged

Apart from a couple of sub £10 loans on the 5 year market we were also repaid yesterday and money transfer started to new homes.
Couldn't cash them out as the minimum size is £10.

thegentleway

I have 11,211 requests in front of me 

Aceace

thegentleway said:

I have 11,211 requests in front of me 

Very rough figures here, but...
I think that the queue has dropped by nearly 1,000 today. The cash available for reinvestment has dropped from around £55m to £50m. So you might not have as long to wait as you might think. Though this does suggest that the property sale cash will run out shortly before you get to the front. And assumes that there aren't a significant number of people who suddenly realise what's going on and withdraw their cash before it gets reinvested. 

Michael_Bear

Just seem this thread and checked my que number and I'm under 1k! I was hoping to get it back in 2021 but at this rate it'll be back in 2020!