Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Nov 14, 2017 0:31:59 GMT
7.0% available on 5 yr market. So why is my 6.8 still sitting there from last week?!?Guess it's the "crossed" syndrome, but I don't understand why RS pay higher rates than needed; do they have some favoured lenders? trevor I would be sending them an angry e-mail. Or just pull the money out.
|
|
ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
|
Post by ashtondav on Nov 14, 2017 7:31:52 GMT
Go figure this.
i changed one of my orders to 6.7% yesterday lunchtime.
today I receive an email telling me that it matched, and another one telling me I matched another order at 6.1%. Meanwhile my other orders ranging from 6.2% to 6.5% and placed about a week ago remain unmatched.
|
|
smezz
Posts: 180
Likes: 73
|
Post by smezz on Nov 14, 2017 8:07:13 GMT
They seem to do this when the money on the Borrowers side is a high proportion of or > the money on the lenders side.
Rather than run the lenders very low and effectively cease trading they offer the higher rate but only to 'new' money.
They often send emails to some people to alert them of the high rate.
I guess if everyone was alerted it would defeat the object.
If you spot it you can of course cancel your existing 'offers' and grab the new rate at no charge.
Not saying I agree with it but there is logic to it.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Nov 14, 2017 8:47:13 GMT
How long are the formed contracts @ 7%? These anomalyical evening biggies generally get formed the following morning I think, and will be five years. I'll post here when I check mine tomorrow. This one is confirmed as five years.
|
|
|
Post by skint4achange on Nov 17, 2017 22:20:03 GMT
They seem to do this when the money on the Borrowers side is a high proportion of or > the money on the lenders side. Rather than run the lenders very low and effectively cease trading they offer the higher rate but only to 'new' money. They often send emails to some people to alert them of the high rate. I guess if everyone was alerted it would defeat the object. If you spot it you can of course cancel your existing 'offers' and grab the new rate at no charge. Not saying I agree with it but there is logic to it. There is also another possible plus for Rate setter doing this.........Everyone is talking about these crossed rates and how quickly they disappear. How do you make sure you get these rates when they appear?? Leave a load of money sitting on the platform doing nothing. Also, are the people who are receiving the emails investors who have not been on the platform for a while/moved money out??
I have been watching Rate setter rates quite a bit lately (Semi Retired so bugger all else to do!! ) and it has been happening quite a few times. I would be rather mythed if I had a load of money sat on auto reinvest and the rate was above my setting but didn't roll my money into the market.
|
|
smezz
Posts: 180
Likes: 73
|
Post by smezz on Nov 18, 2017 10:58:15 GMT
They seem to do this when the money on the Borrowers side is a high proportion of or > the money on the lenders side. Rather than run the lenders very low and effectively cease trading they offer the higher rate but only to 'new' money. They often send emails to some people to alert them of the high rate. I guess if everyone was alerted it would defeat the object. If you spot it you can of course cancel your existing 'offers' and grab the new rate at no charge. Not saying I agree with it but there is logic to it. There is also another possible plus for Rate setter doing this.........Everyone is talking about these crossed rates and how quickly they disappear. How do you make sure you get these rates when they appear?? Leave a load of money sitting on the platform doing nothing. Also, are the people who are receiving the emails investors who have not been on the platform for a while/moved money out??
I have been watching Rate setter rates quite a bit lately (Semi Retired so bugger all else to do!! ) and it has been happening quite a few times. I would be rather mythed if I had a load of money sat on auto reinvest and the rate was above my setting but didn't roll my money into the market.
The rates can last quite a while - I'd guess an hour or two. If you pay in by debit card (£1000+ to avoid charges) it's almost instantaneous. You can then invest say £100 and withdraw £900 if you like. There should be some way of getting automatic notification when the rate goes above x% like banks do when your balance goes below a certain amount.
|
|
|
Post by GSV3MIaC on Nov 18, 2017 14:20:06 GMT
There should be some way of getting automatic notification when the rate goes above x% like banks do when your balance goes below a certain amount. I thought that was the whole point of having a lending offer in for £1 at %silly - you get an email when it matches .. at least I used to. Whether you'd actually see the email before the window of opportunity closes is entirely another matter, and maybe 'email for matches' is no longer on offer, or only happens too late in the process anyway?
|
|
david42
Member of DD Central
Posts: 419
Likes: 346
|
Post by david42 on Nov 18, 2017 18:49:51 GMT
I thought that was the whole point of having a lending offer in for £1 at %silly - you get an email when it matches .. at least I used to. But that does not tell you about crossed markets because existing offers do not get matched so you don't get an email. Only new offers get matched when the market is crossed. I have previously posted a market listing that demonstrates existing offers being ignored.
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Nov 19, 2017 8:47:21 GMT
Quote: "I would be rather mythed if I had a load of money sat on auto-invest and the rate was above my setting but didn't roll my money into the market" And that's the issue, there seems to come a point when existing offers are ignored and new money is matched at higher rates! If you are monitoring the situation hourly maybe the suggestions above can get a piece of the action, otherwise like me you see rates have been higher than your offers, which are still sitting there doing nothing 😬
|
|
smezz
Posts: 180
Likes: 73
|
Post by smezz on Nov 20, 2017 4:52:57 GMT
Potential future crossover in 1 year with more borrowers than lenders.
Have seen these just 'evaporate' though.
Borrowers Rate Lenders >>4.5% £6.3m 4.4% £719.3k 4.3% £633,777.83 £8,341,570.05 4.2% £4.2k 4.1%
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Nov 20, 2017 9:58:07 GMT
Potential future crossover in 1 year with more borrowers than lenders. Have seen these just 'evaporate' though. Borrowers Rate Lenders >>4.5% £6.3m 4.4% £719.3k 4.3% £633,777.83 £8,341,570.05 4.2% . £4.2k 4.1% Are you sure you didn't see these figures on "Rolling"? (Unless RS put them onto in year in error...)
|
|
smezz
Posts: 180
Likes: 73
|
Post by smezz on Nov 20, 2017 10:48:21 GMT
you are correct. It was Rolling - my bad!
must have been half asleep.
|
|
|
Post by skint4achange on Nov 20, 2017 11:24:55 GMT
you are correct. It was Rolling - my bad! must have been half asleep. You posted the first post at 5.30am!! I would have been fully asleep let alone half!!
|
|
|
Post by blanik on Nov 22, 2017 10:16:06 GMT
E-mail to ratesetter complaining that my orders were not being matched although a higher rate was available. Their reply below.
"Thank you for your email.
We are aware that the market place is currently working slightly different than normal and there is currently an ongoing investigation with my Technical and Development team to find out the root of this. They have advised they will work to rectify any issues as soon as possible."
|
|
|
Post by skint4achange on Nov 27, 2017 19:30:17 GMT
The crossover problem seems to be resolved but now there appears to be another issue.
There was £55k showing in the borrower column @5.7% and £350k in the lender column @5.7%. This money did not move so I changed one of my orders and it was matched straight away at 5.7%.
I wish they would get this bloody website sorted out.
|
|