m2btj
Member of DD Central
Posts: 626
Likes: 749
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Post by m2btj on Dec 20, 2017 16:30:43 GMT
Matched on 1yr at 5.1%. Tempted to be a bit greedy but that backfired on me earlier this week & I ended up with cash on the market for two days negating any gain.
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sapphire
Member of DD Central
Posts: 485
Likes: 406
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Post by sapphire on Dec 20, 2017 17:30:59 GMT
I only had three one year deals, all recent. Two at 5.8%/5.6% early November are still running. One at 5.8% in Nov paid back 8 days later. If I can't get 4%+ on repayments I withdraw, and use funds elsewhere. Basically this is just repayments money which is "marking time". The only reason I usually can monitor platforms is because the computer is online most of the day for other purposes and it only takes a few minutes to keep aware of what is going on via the forum and the platforms themselves. * only 4.1% today Thanks for sharing your experience. As the RS platform as evolving it is needing more and more precious personal time to optimise returns...especially with the 'aggressive' refinancing being undertaken. You are fortunate in being able to do so.
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Post by Deleted on Dec 20, 2017 22:06:01 GMT
I have not been a borrower on RS so not sure if a borrower is able to refinance the loan the very next day after it has been matched or if there is a minimum holding period expected? Borrowers don't need to 'refinance' the very next day. They can cancel at any point up to 2 weeks without any charge. Don't like it? Blame the Consumer Credit Act, not RateSetter. In addition, the RateSetter Borrower FAQs are pretty clear on all the points, including early repayment without charge as well.
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sapphire
Member of DD Central
Posts: 485
Likes: 406
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Post by sapphire on Dec 21, 2017 7:18:15 GMT
I have not been a borrower on RS so not sure if a borrower is able to refinance the loan the very next day after it has been matched or if there is a minimum holding period expected? Borrowers don't need to 'refinance' the very next day. They can cancel at any point up to 2 weeks without any charge. Don't like it? Blame the Consumer Credit Act, not RateSetter. In addition, the RateSetter Borrower FAQs are pretty clear on all the points, including early repayment without charge as well. Thanks for clarifying. Not sure if the borrower would be refunded the "administration" fees and the "Credit Rate" fees? (The FAQ mentions no early repayment charge but no makes no mention of the other fees already paid.) It would be interesting if there any stats as to what percentage of RS borrowers cancel very soon after the start and those that repay later but before maturity.
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Post by fiatlender on Dec 21, 2017 16:14:31 GMT
5.8% just matched on the 1yr. Took 5.7% myself, didn't want to be too greedy
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Post by stevepn on Dec 21, 2017 16:59:37 GMT
Just got 5.4%, see how long before it get cashed in.
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