ceejay
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Post by ceejay on Aug 2, 2018 15:22:22 GMT
Ratesetter is getting very confusing. Moved funds from Rolling to 1 year on 07/07 at 4.5%. Loan was repaid on 20/07, so how many of you still have higher interest 1 year loans still in the market? Other annoying part of Ratesetter is that they automatically put the capital back on the market at 4.5% but on the Rolling Market and not the 1 year. Ratesetter used to be simple to manage, but seems to be getting unpredictable and therefore a pain. I have several 1 year loans at rates above 4.5 which are still running ... I think you were unlucky with that one, although note that this can strike at any time with any RS loan.
As for the automatic reinvestment - only if you let them! Check your reinvestment settings. Remember that reinvesting in Rolling is not a bad default setting for them to have created, since you can take that back out at any time without penalty.
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oik
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Post by oik on Aug 2, 2018 19:47:01 GMT
Check your reinvestment settings. Remember that reinvesting in Rolling is not a bad default setting for them to have created, since you can take that back out at any time without penalty. Tend to agree with dombert. I was content to have quite large sums in Rolling (top end of five figures) because previously I knew that every week I had sums maturing that were available to either to renew or use to top up my current account for equity and other investments. I'd never in all the years using RS ever needed to request "release" of my funds. Like dombert I've found the new system to be an unpredictable and time-consuming pain and have now pulled out everything, bar a tiny amount still in 1 year. Most has gone to Assetz who seem to to be more competent in every respect than the pillocks at RS. I found I had tiny parts of loans and early repayments that were getting smaller and smaller now spread across almost every day of the week and being automatically re-invested at rates lower than paid on several current accounts. Trying to continually reject loans every day, provided I spotted them in time, was a serious waste of time. Even more so when RS ignored their own rules and cunningly returned earlier higher interest loans rather than the most recent loans.
With the tiny premium paid for the substantial added risk, Ratesetter rolling was barely worth it at the best of times. It's now effectively just the 5 year market at half the rate without the exit fee and not much use to me. Other than for someone who wants a full-time hobby it's now a nonsense, just not worth the hassle. There are way more rewarding ways to use my time.
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lara
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Post by lara on Aug 2, 2018 20:15:03 GMT
Check your reinvestment settings. Remember that reinvesting in Rolling is not a bad default setting for them to have created, since you can take that back out at any time without penalty.
With the tiny premium paid for the substantial added risk, Ratesetter rolling was barely worth it at the best of times. It's now effectively just the 5 year market at half the rate without the exit fee and not much use to me. Other than for someone who wants a full-time hobby it's now a nonsense, just not worth the hassle. There are way more rewarding ways to use my time.
You know, I told them that at the time and that if I had wanted to invest in the 5 year market, I would have been doing that already!
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 3, 2018 11:31:54 GMT
Ratesetter is getting very confusing. Moved funds from Rolling to 1 year on 07/07 at 4.5%. Loan was repaid on 20/07, so how many of you still have higher interest 1 year loans still in the market? Other annoying part of Ratesetter is that they automatically put the capital back on the market at 4.5% but on the Rolling Market and not the 1 year. Ratesetter used to be simple to manage, but seems to be getting unpredictable and therefore a pain. Just coincidence, but not unlucky as it was effectively a free RYI which you can put back in at higher rates now available! My older 1yr average 5.3%, newer ones 4.8, with no early repayments for several months (although I had a spate earlier in the year).
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star dust
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Post by star dust on Dec 18, 2018 11:13:46 GMT
Not sure who got any of this, but all mine is now set to re-pay tomorrow. Well 5 months @6% better than none, but now where to put it.
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cb25
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Post by cb25 on Dec 18, 2018 11:32:03 GMT
Not sure who got any of this, but all mine is now set to re-pay tomorrow. Well 5 months @6% better than none, but now where to put it. Similar for me, just under £2500 from 23 July due to repay tomorrow.
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rscal
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Post by rscal on Dec 18, 2018 12:36:23 GMT
I missed that party, but I did have some 3.6% loans repaid 3 months early this morning which I wasn't expecting - so that was a bit of a bonus!
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ceejay
Posts: 971
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Post by ceejay on Dec 18, 2018 14:18:42 GMT
Not sure who got any of this, but all mine is now set to re-pay tomorrow. Well 5 months @6% better than none, but now where to put it. Mine too. Shame, but there you go. Still, 1 yr rates not too bad at the moment - over 5% is easily attainable.
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aju
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Post by aju on Dec 18, 2018 16:29:17 GMT
Not sure who got any of this, but all mine is now set to re-pay tomorrow. Well 5 months @6% better than none, but now where to put it. Mine too. Shame, but there you go. Still, 1 yr rates not too bad at the moment - over 5% is easily attainable. Just curious you say in 1y at moment 5% easily attainable but the last one was 4.4% with >4.4% posting 1.4m - ..... just as I was writing it went to 4.9% @16:25. is that usual. 5Y is hitting 5.9 perhaps my 6.1 will be hit today after the 6.0 got hit yesterday!.
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mickj
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Post by mickj on Dec 18, 2018 18:41:25 GMT
Claim's a match at 5.2% at 18:08 wowsers (1 year)
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benaj
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Post by benaj on Dec 18, 2018 19:09:52 GMT
2018-12-18 @19:08 Reinvestment orders in 1Y from 971 lenders @ 4.7% = £22.00 in total, average lending 2p per lender 5 mins later, 4 lenders joined the queue @ 4.7, so 975 lenders queue, £2000.59., average, £2 per order....
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benaj
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Post by benaj on Dec 20, 2018 13:22:01 GMT
5.4% was matched yesterday and 5.2% was matched on the 18th.
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Post by fiatlender on Dec 24, 2018 13:24:05 GMT
There was over £500k on the 1 year at 8.9%, down to £275k now.
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Stonk
Stonking
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Post by Stonk on Dec 24, 2018 13:27:57 GMT
There was over £500k on the 1 year at 8.9%, down to £275k now.
Going *very* fast ... I took some, and it went down by £100K in the time it took to make a card deposit. So I won't risk depositing again ... chances are it will be all gone before I can complete the order.
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cb25
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Post by cb25 on Dec 24, 2018 13:32:37 GMT
There was over £500k on the 1 year at 8.9%, down to £275k now.
Excellent, thanks for the heads-up, just got £1000 (and the 8.9% is now gone)
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