TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 3, 2018 11:48:36 GMT
lara : Well, not really ignore. It's monthly repayments being recycled into new contracts, which is just a small part of the previous system where the whole remaining loan also queued up to be reallocated.
HtH
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lara
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Post by lara on Aug 3, 2018 14:18:26 GMT
lara : Well, not really ignore. It's monthly repayments being recycled into new contracts, which is just a small part of the previous system where the whole remaining loan also queued up to be reallocated.
HtH I see, thank you! So that money does still need to be matched from the lenders queue then?
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 3, 2018 18:38:04 GMT
lara : Well, not really ignore. It's monthly repayments being recycled into new contracts, which is just a small part of the previous system where the whole remaining loan also queued up to be reallocated.
HtH I see, thank you! So that money does still need to be matched from the lenders queue then? Well no, it IS part of the lenders' queue, waiting to be matched with a borrower.
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lara
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Post by lara on Aug 3, 2018 18:46:32 GMT
I see, thank you! So that money does still need to be matched from the lenders queue then? Well no, it IS part of the lenders' queue, waiting to be matched with a borrower. Sorry, yes, that's what I meant to say! Thank you!
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Post by boudicca on Aug 7, 2018 11:13:58 GMT
Have the rates of return risen since the change, I am thinking of returning to the site ?
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 7, 2018 14:24:08 GMT
You can see the current rates if you log in!
I got high 4s on 1 yr and high 5s on 5 yr recently, although I think 1 yr hit 6% last week. I feel rates have slipped a couple of points with more funds queued over the past few days, and it seems the return of Rolling Rate setting will bring back some investors.
HtH
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ashtondav
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Post by ashtondav on Aug 7, 2018 14:56:21 GMT
I won’t go below 5.8%, sometimes 5.7%. I’ve had funds loaned in the last two weeks. Nothing above 5.8%, though so I’m keeping the money in RS until month end when it either gets loaned out at my rates or it’s withdrawn and put into Lendingworks.
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mark123
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Post by mark123 on Aug 7, 2018 17:38:20 GMT
I won’t go below 5.8%, sometimes 5.7%. I’ve had funds loaned in the last two weeks. Nothing above 5.8%, though so I’m keeping the money in RS until month end when it either gets loaned out at my rates or it’s withdrawn and put into Lendingworks. Yes, you can get 5.7% or 5.8% in five year... but you will probably have to leave it in the queue for several days. I haven't managed to get better than 5.8% recently.
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cb25
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Post by cb25 on Aug 7, 2018 17:47:52 GMT
I won’t go below 5.8%, sometimes 5.7%. I’ve had funds loaned in the last two weeks. Nothing above 5.8%, though so I’m keeping the money in RS until month end when it either gets loaned out at my rates or it’s withdrawn and put into Lendingworks. Yes, you can get 5.7% or 5.8% in five year... but you will probably have to leave it in the queue for several days. I haven't managed to get better than 5.8% recently. I got 5.8% today
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Post by ogwellian on Aug 7, 2018 21:01:04 GMT
I got three matches at 5.8 today, too. Still got two to go. 27th July was the earliest order. August 2nd is oldest now.
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tyrex
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Post by tyrex on Aug 8, 2018 9:25:06 GMT
I got a 61 month 5.7% yesterday, in the 5 year market. Has anyone told Ratesetter how many months there are in 5 years?
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Post by boudicca on Aug 8, 2018 9:31:41 GMT
High 5's looks good enough for me to return.
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Post by tredod on Aug 8, 2018 12:04:53 GMT
High 5's looks good enough for me to return. No! If too many lenders return the extra money will drive rates down again.
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pom
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Post by pom on Aug 8, 2018 13:44:17 GMT
There is also the point that if you don't have enough ISA capacity to cover all of your P2P lending, then it seems to make sense to put it on the highest return platforms, which RS isn't ... and also on the platforms where the tax return is most likely to get complicated, ie where there are individual loans that might be defaulting and then slowly recovering - also not RS.
I rarely read this board as winding down RS but the subject caught my eye. Personally I think you may be looking at your ISA strategy the wrong way, perhaps being over optimistic on likelihood of recoveries. My view is that for ISAs in particular, return OF capital is much more important than return ON capital, because you have no way of offsetting any losses (it may be a faff but I'd rather be able to do it than have to completely write it all off) and have limited ability to top it up further. I still have some ISA cash in the highest return platforms but I'm very careful about which loans I put in it and diversification levels, and probably won't significantly increase it in future years - putting more into black boxes.
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mark123
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Post by mark123 on Aug 8, 2018 14:00:41 GMT
There is also the point that if you don't have enough ISA capacity to cover all of your P2P lending, then it seems to make sense to put it on the highest return platforms, which RS isn't ... and also on the platforms where the tax return is most likely to get complicated, ie where there are individual loans that might be defaulting and then slowly recovering - also not RS.
I rarely read this board as winding down RS but the subject caught my eye. Personally I think you may be looking at your ISA strategy the wrong way, perhaps being over optimistic on likelihood of recoveries. My view is that for ISAs in particular, return OF capital is much more important than return ON capital, because you have no way of offsetting any losses (it may be a faff but I'd rather be able to do it than have to completely write it all off) and have limited ability to top it up further. I still have some ISA cash in the highest return platforms but I'm very careful about which loans I put in it and diversification levels, and probably won't significantly increase it in future years - putting more into black boxes. I think that ceejay's point is that, if you have a mix of ISA and non-ISA invested on several P2P platforms, it's sensible to use the ISA for the ones with the highest interest rate because the tax free status gains you most - making the risk of default more acceptable. But I totally agree with your point on return OF capital. So I won't lend on platforms which offer > 6% ("if it sounds too good to be true, it probably is"). I mainly lend on RS and Z which I perceive to be least risky; on RS, I wait until I can get 5.5% at the absolute minimum. Knock off a few percent for risk and nothing for tax I guess that I just beat inflation... which is actually pretty difficult to do safely anywhere at the moment.
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