ashtondav
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Post by ashtondav on Mar 1, 2018 18:47:23 GMT
Just a few hours ago I matched a good few grand at 3.8%. It’s now below 2%. What the dickens is happening?
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Post by rudry2677 on Mar 1, 2018 19:05:15 GMT
I suspect that someone borrowed the money from you at 3.8% and very generously loans it out at 1.4% as it stands now 🤪.
That is the logical answer but it probably isn’t the real one. 1.4%!!! Must be snowed in and on the pop.
Now, 20 minutes later, the rate is 1%. Somewhat foolish.
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morris
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Post by morris on Mar 1, 2018 20:11:05 GMT
Why would anyone lend at 1% when you can get that and a lot more backed by FSCS.
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morris
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Post by morris on Mar 1, 2018 20:18:11 GMT
Latest match now 0.8%
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copacetic
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Post by copacetic on Mar 1, 2018 20:18:30 GMT
And it keeps going down .... 0.8% now. I wonder is there some shenanigans going on to manipulate the market. It seems very silly for an investor to offer that rate intentionally.
Edit: crossed with morris
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jlend
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Post by jlend on Mar 1, 2018 20:56:17 GMT
And it keeps going down .... 0.8% now. I wonder is there some shenanigans going on to manipulate the market. It seems very silly for an investor to offer that rate intentionally. Edit: crossed with morris It is what it is... With the " lend it now rate " there are often lenders that end up lending at very low rates without I assume realising they could easily get a lot higher rate. It has been the same for a long time now. I don't expect it will change.
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Post by ruralres66 on Mar 2, 2018 8:42:37 GMT
I very much suspect it is in part due to the sneaky way RS have set up the lending process within the new ISA. If you follow the logical path and "Choose your market", there is no option button to "set your own rate", or, as RS describe it, "Are you an Expert Lender" rate! You have to go to the left menu for lending which then allows you to set rate. I think I will make a formal complaint about this to RS as it will catch out people even more "experts" lenders. By NOT providing the "set your own" option on the "choose your market" pathway, RS are achieving a self fulfilling outcome of benefit to their own business model. It is far from open and transparent. As there will be a lot of people going via ISA, the 1 year and 5 year are effectively ceasing to trade with only Rolling which had nearly £18,000,000 at  rates of only effectively 3.5% realised two days ago! |
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ashtondav
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Post by ashtondav on Mar 2, 2018 10:19:47 GMT
Over 3% again now, maybe it’s a "start of month" syndrome of some sort but that is some fluctuation. Weirdly a few minutes ago rolling was higher than 1 year! There are some serious distortions on RS and the "dumb money" must be getting poor returns.
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benaj
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Post by benaj on Mar 2, 2018 10:38:51 GMT
I very much suspect it is in part due to the sneaky way RS have set up the lending process within the new ISA. If you follow the logical path and "Choose your market", there is no option button to "set your own rate", or, as RS describe it, "Are you an Expert Lender" rate! You have to go to the left menu for lending which then allows you to set rate. I think I will make a formal complaint about this to RS as it will catch out people even more "experts" lenders. By NOT providing the "set your own" option on the "choose your market" pathway, RS are achieving a self fulfilling outcome of benefit to their own business model. It is far from open and transparent. As there will be a lot of people going via ISA, the 1 year and 5 year are effectively ceasing to trade with only Rolling which had nearly £18,000,000 at rates of only effectively 3.5% realised two days ago! It's not just the new ISA. All the new accounts including Everyday account. I'm pretty sure the first initial investment is 'market rate' only. I could only imagine people just dump a lump sum before setting their first expert rates.
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Post by wangja on Mar 5, 2018 1:05:40 GMT
10 million on offer at 2.2% at 01:05 ....
A long way to go to hit my rates ....
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jlend
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Post by jlend on Mar 5, 2018 8:59:32 GMT
10 million on offer at 2.2% at 01:05 .... A long way to go to hit my rates .... I would not worry about that if I were you I expect if you put your money on the market now at 3.5% it would be matched today looking at the queue Still not great, but better than 2.2%
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Post by ruralres66 on Mar 5, 2018 9:21:52 GMT
I agree. 10 million-ish with the usual try on at 2.2%,........ to depress the whole market ? ...with it realistically pitched at 3.5%, (or more likely 3.4%) as money drops in out of no where thoroughout the day!
NOTHING in 1 year or %........!
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ding
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Post by ding on Mar 5, 2018 12:23:31 GMT
Which is why I just withdrew the last of my money out. I still have some in 1yr though.
Astonishing people were matched against 1.x % yesterday.
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jlend
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Post by jlend on Mar 5, 2018 13:48:01 GMT
I agree. 10 million-ish with the usual try on at 2.2%,........ to depress the whole market ? ...with it realistically pitched at 3.5%, (or more likely 3.4%) as money drops in out of no where thoroughout the day! NOTHING in 1 year or %........! My 3.5 from earlier today just matched
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Post by ruralres66 on Mar 5, 2018 16:11:38 GMT
Li
kewise- my big fat lending of 5 figures in 6 uneven chunks!
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rates of only effectively 3.5% realised two days ago!