Email from RS - Rate-setting in the Rolling - Coming Back!
Jul 18, 2018 18:34:09 GMT
fiatlender, radar, and 1 more like this
Post by nycmw on Jul 18, 2018 18:34:09 GMT
Just received this email from RS
I'm guessing they lost enough investors for them to sit up and take note!
----
At RateSetter we are committed to delivering the best products for you. Whether it is investments or loans, we want to be your first choice. For this reason, we are continually seeking ways to improve our products.
One recent improvement was the simplification of our Rolling market which came into effect on 6 June. The overarching objective of this upgrade was to ensure that contracts between investors and borrowers are fully matched to term – which gives investors more control with the same level of access and is a more stable footing for the RateSetter exchange.
Prior to 6 June, your investments were matched for only 30 days and then re-matched. This was the way we set up the Rolling market when we launched in 2010. While this had some merits, it resulted in uncertainty and volatility. For instance, it meant that your chosen interest rate would only be secured for 30 days at a time. Now, following the upgrade, your investments remain matched for the full term of the loans which gives you certainty of rate for longer.
As part of the upgrade, we chose, with simplicity in mind, to set capital repayments to reinvest at Market Rate. This reflected the preference of the majority of investors. However, since we made the upgrade, we have heard from some of you saying how much you valued the option to set your own rate for capital reinvesting in the Rolling market, just as you can in our other markets.
We agree that the choice of whether to invest at the Market Rate or to set your rate is one of the empowering features that makes RateSetter stand out as a market-leading investment product because it gives you control over the rate at which you are lending.
So, taking on board your feedback, we are planning to reintroduce the ability to set your rate on reinvestments. This will harmonise the Rolling market with the other RateSetter markets and give you the control you have told us you want.
As you previously set your own rate for reinvestments in the Rolling market, we thought you would like to know about this upcoming change. Please look out for more details in your July 2018 statement.
------
I'm guessing they lost enough investors for them to sit up and take note!
----
At RateSetter we are committed to delivering the best products for you. Whether it is investments or loans, we want to be your first choice. For this reason, we are continually seeking ways to improve our products.
One recent improvement was the simplification of our Rolling market which came into effect on 6 June. The overarching objective of this upgrade was to ensure that contracts between investors and borrowers are fully matched to term – which gives investors more control with the same level of access and is a more stable footing for the RateSetter exchange.
Prior to 6 June, your investments were matched for only 30 days and then re-matched. This was the way we set up the Rolling market when we launched in 2010. While this had some merits, it resulted in uncertainty and volatility. For instance, it meant that your chosen interest rate would only be secured for 30 days at a time. Now, following the upgrade, your investments remain matched for the full term of the loans which gives you certainty of rate for longer.
As part of the upgrade, we chose, with simplicity in mind, to set capital repayments to reinvest at Market Rate. This reflected the preference of the majority of investors. However, since we made the upgrade, we have heard from some of you saying how much you valued the option to set your own rate for capital reinvesting in the Rolling market, just as you can in our other markets.
We agree that the choice of whether to invest at the Market Rate or to set your rate is one of the empowering features that makes RateSetter stand out as a market-leading investment product because it gives you control over the rate at which you are lending.
So, taking on board your feedback, we are planning to reintroduce the ability to set your rate on reinvestments. This will harmonise the Rolling market with the other RateSetter markets and give you the control you have told us you want.
As you previously set your own rate for reinvestments in the Rolling market, we thought you would like to know about this upcoming change. Please look out for more details in your July 2018 statement.
------
