© RateSetter 2010 - 2021. Yes, your investment continues to work as normal and earns interest until it is released. The Provision Fund we offer does not give you a right to a payment so you may not receive a pay-out even if you suffer loss. Hugely disappointed because I've had a release request since 12th March (which is the current processing day) for a substantial sum. 7075792) and our registered office is at 6th Floor, 55 Bishopsgate, London EC2N 3AS. Requests are being delivered in chronological order within each of our three different markets: Access, Plus and Max; 1 Year market; and 5 Year market. We are also delivering Consumer loans directly via our website, but with significantly tightened lending criteria. Post by RateSetter on Nov 27, 2020 16:46:25 GMT. This has meant that we have not been able to process requests as quickly as usual." RateSetter has released over £33 million back to investors and continues to do so. Unfortunately we can’t give specific timing guidance on when individual requests will be processed because the rate of progress within each market depends on market-specific factors such as the volume of requests received and the daily supply of funds within that market. I was able to exit from the 5 year product within six weeks but I requested an exit from my Access account on March 13th, 2020 and I am still in the queue. RateSetter release requests processing progress 16/10/2020 Please note this page … We are very sorry that requests are not being processed at the same speed as usual, but this is an unprecedented environment. In early August she asked to withdraw all of her money (you can request to release your investments at any time). We have delivered £143.5 million of release requests … Yes, your investment continues to earn interest until your release request is delivered. 722768). We continue to deliver to our existing Property Development Finance customers as they complete their developments because supporting continued construction is in the interests of borrowers and investors. So to retrieve your funds, you set an improbably high rate and move the money into your holding account.Seven Greek islands added to England's quarantine list as Government opts for more local restrictionsTop 15+ … RateSetter Access Account – should you need to access your money quickly, the RateSetter Access Account is a great way to achieve more than double what the best savings account will give you. No one is putting new money in for 1.5%, which means no liquidity for release requests. Within your account dashboard you can view the progress of your request in the investment release queue. 22 July 2016: RateSetter wins best online peer-to-peer provider at Your Money Awards 2016. Check out what 6,624 people have written so far, and share your own experience. For Access, Plus and Max repayments continue to automatically reinvest as normal until your release request is delivered, while your investment settings dictate how repayments are handled in the 1 Year and 5 Year products. We use cookies to manage our website. RateSetter told investors that it is continuing to process ‘release investment’ requests as quickly as possible but that this is likely to take more than a week as opposed to its usual one day. RateSetter is a peer-to-peer lending website that allows its users to lend and borrow money directly from each other according to their own interest rates. £57.8 million of release requests have been cancelled or reduced, and you can cancel or reduce a request within your account dashboard. RateSetter is a trading name of Retail Money Market Ltd (Company No. To access the data below in Google Sheets click here. For an alternative / more accurate idea of RateSetter‘s progress with releasing funds in the Plus, Max, 1 Year and 5 Year markets / products you can take a look at this thread. | Read 81-100 Reviews out of 6,516 Therefore, investors should not rely on possible pay-outs from the Provision Fund when considering whether or how much to invest. Sorry, your blog cannot share posts by email. The UK business was acquired by Metro Bank in September 2020.. You've already … When your investment release has been processed your money will be in your Holding Account. All told I'm satisfied with their process and would consider investing again in the future, although for now my investment is going elsewhere On May 4th, … The team is fully functioning including maintaining collections and recoveries activity. The platform suggested that coronavirus uncertainty could be to blame, as more people want to withdraw their money in the face of stock market losses. The transfer of your ISA can only … We are delivering as many release requests as we can every day, while keeping the loan portfolio stable for the benefit of all our customers and making sure we continue to support our borrowers. Although Ratesetter claims requests subsequently fell back to normal levels, investors who tried to withdraw their cash eight months ago are still in virtual queues of thousands of people. 5 May 2016: RateSetter appoints Chief Risk Officer Carry on browsing if you're happy with our cookie policy. × ... "Given the context of the wider investments environment, it is understandable that we have received a spike in requests to release invested money. RateSetter said the volume of requests has now returned to a normal level and nine out of 10 investors have continued investing. The amount delivered from each market is determined by market-specific factors such as the volume of release requests received and the daily supply of funds within that market from borrower payments and investors. RateSetter is a British peer-to-peer lending company based in London, founded in 2009 and trading in the United Kingdom and (from 2014) through a locally-owned and run business in Australia. From there you can either withdraw it to your bank account (which usually takes one working day) or reinvest. | Read 121-140 Reviews out of 6,624 The Provision Fund we offer does not give you a right to a, payment so you may not receive a pay-out even if you suffer, loss. We are delivering requests in chronological order within our different markets: Access, Plus and Max; 1 Year; and 5 Year. How does RateSetter decide how much to Invest release my investment release take to complete easy! 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