ashe
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Post by ashe on Jul 19, 2018 14:12:07 GMT
Still no announcement on the Ratesetter's notice board and no mention of it in the daily P2P News.
No e mail to me either. All very odd. you only get the email if you've lent on rolling and reinvested at your chosen rate. I'm pretty sure I have, but don't have the email. However, I think I have had small amounts invested during this time at market rate, if that might stop RS emailing me.
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happy
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Post by happy on Jul 19, 2018 14:20:52 GMT
Still no announcement on the Ratesetter's notice board and no mention of it in the daily P2P News.
No e mail to me either. All very odd. you only get the email if you've lent on rolling and reinvested at your chosen rate. Not so it seems. As an ex 6 figure lender with RS and still at 5 figures with 50% in Rolling I did not get the email and I have never used Market Rate, ever! Edit: except since they stopped me setting the rate for reinvestment on Rolling thst I didn't manage to get to before they matched
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lara
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Post by lara on Jul 19, 2018 14:26:04 GMT
Perhaps it depends on how much you complained about the changes?
I got the email and I complained vehemently to them at every opportunity!
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Post by ogglet on Jul 19, 2018 17:13:02 GMT
I haven't had anything on rolling since May and I haven't complained; though I have moved some money out of RS and into other platforms and I have had the email.
From now on though, it is likely the money I previously would have added to RS will now go to the "other" platforms unless RS rates are significantly better and I wouldn't have even tried the other PtoPs if I han't been a little peeved with RS's changes.
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ashtondav
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Post by ashtondav on Jul 19, 2018 18:06:35 GMT
But where to go? The big boys - ZOPA, FC and RS have all sh@fted lenders to some extent as has AC to some extent. I just want fire and forget accounts paying 6% over 5 years. Lendingworks? Very small, though.
If I can shift money at 5.8% to 6% in RS i'll stick with them. ROlling wouldnt interest me until 4% was consitently achieveable.
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Post by ogglet on Jul 19, 2018 19:33:26 GMT
But where to go? The big boys - ZOPA, FC and RS have all sh@fted lenders to some extent as has AC to some extent. I just want fire and forget accounts paying 6% over 5 years. Lendingworks? Very small, though.
If I can shift money at 5.8% to 6% in RS i'll stick with them. ROlling wouldnt interest me until 4% was consitently achieveable.
And that is the dilemma. RS for a period seemed "safe" and stable, even acknowledging their faux pas with car loans etc. And they are one of the big boys in the game, so I agree 5.8-6% in the current climate would be adequate but unfortunately no longer achievable it seems on RS. AC is more fun, offers bigger returns but the provision fund offers nothing like the protection of RS PF. and I fear the fun could quickly turn to disaster. Kuflink, Octopus; LW, all too small in my opinion except for diversification (read "playing around") of small amounts of capital. Equities have not performed well this year either and who knows which way they will turn as events unfold. So, like you, I see no prospective option. So I have resigned myself to stick with RS and a few other P2Ps. But I no longer have the enthusiasm for P2P. We the investors provide the money and take the risk, the borrowers provide the demand and I fear the middleman takes more than a fair share of profit....ever it was thus.
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jlend
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Post by jlend on Jul 19, 2018 23:32:57 GMT
I would have thought the FCA may have something to say about Ratesetter giving sensitive information on how the rolling market will work in the future to only a subset of investors....
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Jul 20, 2018 6:39:20 GMT
I would have thought the FCA may have something to say about Ratesetter giving sensitive information on how the rolling market will work in the future to only a subset of investors.... Entirely agree. Still no official Notice of this reversal on the Ratesetter website, and no announcement to the press it seems.
I have been with RS from very nearly the start and still no e mail to me. Could this all be a hoax?
Some might begin to think that their is something going wrong with the management at RS especially after the initial decision to remove the ability to set our own rates - the reason many joined in the first place.
Wake up RS. Come on this forum and tell us all and put up an official Notice immediately. You had better tell the P2P press or it will appear that you are hiding vital information from the majority of your investors.
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happy
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Post by happy on Jul 20, 2018 8:06:17 GMT
I would have thought the FCA may have something to say about Ratesetter giving sensitive information on how the rolling market will work in the future to only a subset of investors.... Entirely agree. Still no official Notice of this reversal on the Ratesetter website, and no announcement to the press it seems.
I have been with RS from very nearly the start and still no e mail to me. Could this all be a hoax?
Some might begin to think that their is something going wrong with the management at RS especially after the initial decision to remove the ability to set our own rates - the reason many joined in the first place.
Wake up RS. Come on this forum and tell us all and put up an official Notice immediately. You had better tell the P2P press or it will appear that you are hiding vital information from the majority of your investors.
Maybe only "Special Investors" will get to set their rates on Rolling. Please send your favourite theory on what is happening at RateSetter Towers on a postcard to.......... Please RateSetter will you respond here or on your site soon before the conspiracy theories consume us all.
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Post by befuddled on Jul 20, 2018 9:17:54 GMT
...assuming it takes time to change the machinations of the website, with all the approvals/testing etc - they must have realised the gravity of their mistake and began their U turn almost immediately after the introduction....
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oik
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Post by oik on Jul 20, 2018 12:12:39 GMT
Together with their previous track record, none of this does too much to increase my confidence in these characters of being capable of looking after my pennies.
Despite the the low rates it suited us to have quite large figures with them until not long ago. Mrs Oik has now made a full withdrawal using RYI (for the first time in the x years we've used them) and regardless of what happens from here I'll be severely curtailing my usage. If it wasn't clear enough already, ~3% is way below a sensible return for the risk of dealing with them.
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Post by biscuit on Jul 20, 2018 12:24:05 GMT
...assuming it takes time to change the machinations of the website, with all the approvals/testing etc - they must have realised the gravity of their mistake and began their U turn almost immediately after the introduction.... Surely it' a bit more complicated than that, as they now have to run 2 systems for "Rolling" over the next 5 years for example I've money invested at 3.7% for the next 47 months, which I can take iout penalty free whenever I like. I'm happy with that and I can't see how they can change it without my OK.
What a mess, assuming they have of course rolled back Rolling to the previous terms, I've heard nothing from RS
Biscuit
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oik
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Post by oik on Jul 20, 2018 13:05:28 GMT
Surely it' a bit more complicated than that, as they now have to run 2 systems for "Rolling" over the next 5 years for example I've money invested at 3.7% for the next 47 months, which I can take iout penalty free whenever I like. I'm happy with that and I can't see how they can change it without my OK. Always assuming it runs for the 47 months. I invested money at 3.7% on the 15th this week that was repaid two days later on the 17th (and so becoming available for them to invest at whatever silly rate they chose).
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happy
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Post by happy on Jul 20, 2018 13:18:55 GMT
Surely it' a bit more complicated than that, as they now have to run 2 systems for "Rolling" over the next 5 years for example I've money invested at 3.7% for the next 47 months, which I can take iout penalty free whenever I like. I'm happy with that and I can't see how they can change it without my OK. Always assuming it runs for the 47 months. I invested money at 3.7% on the 15th this week that was repaid two days later on the 17th (and so becoming available for them to invest at whatever silly rate they chose). Spot on oik. This was always one of my underlying concerns when RS set the rate. They can simply "wash out" any Rolling loans made during any higher rate peaks by swapping it to a new contract when the market rate is low. Hence why I will always want to choose my investment rate.
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Post by biscuit on Jul 20, 2018 13:45:57 GMT
Surely it' a bit more complicated than that, as they now have to run 2 systems for "Rolling" over the next 5 years for example I've money invested at 3.7% for the next 47 months, which I can take iout penalty free whenever I like. I'm happy with that and I can't see how they can change it without my OK. Always assuming it runs for the 47 months. I invested money at 3.7% on the 15th this week that was repaid two days later on the 17th (and so becoming available for them to invest at whatever silly rate they chose). Is that possible, I thought the only way that could happen was if the owner of the underlying loan repaid it
Am I missing something?
Biscuit
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