Increasing numbers of RateSetter investors are cancelling withdrawals and continuing to invest, helping the platform clear its backlog of requests for funds.
The peer-to-peer lender said this week that £12.4m of withdrawals have been cancelled, which frees up capacity for others who still want to continue selling out of their loans.
The platform said in March that withdrawals were taking longer due to a spike in requests and £29m has been delivered to investors since the coronavirus outbreak took hold in the UK.
RateSetter said the volume of requests has now returned to a normal level and nine out of 10 investors have continued investing.
“We are very sorry that requests are not being processed at the same speed as usual, but this is an unprecedented environment,” the platform said in a note to investors.
“It is difficult for us to give specific timing guidance on when your request will be processed but you should expect it to take over a month to complete from the date you made the investment release request. We will keep delivering every day and we will keep you updated.
“We have seen a growing number of investors choosing to cancel their requests and continue investing – a cumulative total of £12.4m has been cancelled.
“Cancellation also frees up capacity which helps those who due to their circumstances may not have a choice of keeping their funds in investments.”