mark123
Member of DD Central
Posts: 111
Likes: 120
|
Post by mark123 on Aug 8, 2018 17:02:52 GMT
On five year, the 5.8% is all gone and the 5.9% queue is being matched.
Patience rewarded!
|
|
|
Post by fiatlender on Aug 8, 2018 20:33:58 GMT
Sensible lenders dumping nearly £1m on rolling at 3.0%.
Anyone have an idea what is going on here?
Attachments:
|
|
mark123
Member of DD Central
Posts: 111
Likes: 120
|
Post by mark123 on Aug 9, 2018 8:36:03 GMT
Sensible lenders dumping nearly £1m on rolling at 3.0%.
Anyone have an idea what is going on here?
Really strange... the £950k has gone from 3.0% and appeared at 3.3%. Could that money have been lent out overnight and a new £950k offered or has an ordinary (huge) lender changed their rate or has RS done something behind the scenes? It is difficult to understand why a big lender would put in money at 3.0% or 3.3% when the lend now rate on 5 year is 5.3% (so the difference is less than the early withdrawl fee).
|
|
|
Post by fiatlender on Aug 9, 2018 9:29:16 GMT
Really strange... the £950k has gone from 3.0% and appeared at 3.3%. Could that money have been lent out overnight and a new £950k offered or has an ordinary (huge) lender changed their rate or has RS done something behind the scenes? It is difficult to understand why a big lender would put in money at 3.0% or 3.3% when the lend now rate on 5 year is 5.3% (so the difference is less than the early withdrawl fee). Shortly after my post, this money seemed to get split to chunks of around £200k-£250k and layered from 3%-3.3%.
The same lender could just wait until the w/end and easily hoover up at 3.5% or more, even with that volume.
Very abnormal market behaviour.
|
|
|
Post by befuddled on Aug 9, 2018 9:46:57 GMT
Sensible lenders dumping nearly £1m on rolling at 3.0%.
Anyone have an idea what is going on here?
Really strange... the £950k has gone from 3.0% and appeared at 3.3%. Could that money have been lent out overnight and a new £950k offered or has an ordinary (huge) lender changed their rate or has RS done something behind the scenes? It is difficult to understand why a big lender would put in money at 3.0% or 3.3% when the lend now rate on 5 year is 5.3% (so the difference is less than the early withdrawl fee). Gotta be careful - you can't simply subtract the the rolling 3.5% from 5y 5% and think the 1.5% 5y withdrawl fee is covered. If you withdraw £1,000 the fee is £15, you're not losing 1.5% of interest, you're losing 1.5% of your capital. (ie for the first few months you get back less than you paid in)
|
|
|
Post by oppsididitagain on Aug 9, 2018 9:54:41 GMT
Lendingworks.co.uk is 6% for 5Yrs its been that rate for about 18months - not sure about early withdrawal fees
When I spoke to RS re the rolling rates, when they changed their lending policy in June/July I was told that you will get the original rate for the lifetime of the loan. I have about £500 lent between 2.4/2.6% which was matched in the rolling but has a loan time of 41 months !! so when in rolled in August it was put back into the market at that rate !! not happy about this, but may be an explanation to why rates suddenly have a big dip lower now and then.
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Aug 9, 2018 18:49:14 GMT
Lendingworks.co.uk is 6% for 5Yrs its been that rate for about 18months - not sure about early withdrawal fees When I spoke to RS re the rolling rates, when they changed their lending policy in June/July I was told that you will get the original rate for the lifetime of the loan. I have about £500 lent between 2.4/2.6% which was matched in the rolling but has a loan time of 41 months !! so when in rolled in August it was put back into the market at that rate !! not happy about this, but may be an explanation to why rates suddenly have a big dip lower now and then. It rolled into the same rate because that's what they told you in June would happen; you get the original rate for the whole term of the amortising loan. Repayments are reinvested at the MR of the day they roll, which might be up or down!
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Aug 14, 2018 8:20:26 GMT
From the OP, it doesn't seem that lenders are flocking back just yet. Meanwhile rates are refreshingly buoyant ( MR 3.3 / 4.3 / 5.7) today, and apart from the repayments to be reinvested (unless cancelled!) there's only about £3M funding across all markets, which is the lowest I can recall.
|
|
lara
Posts: 345
Likes: 300
|
Post by lara on Aug 14, 2018 8:26:50 GMT
From the OP, it doesn't seem that lenders are flocking back just yet. Meanwhile rates are refreshingly buoyant ( MR 3.3 / 4.3 / 5.7) today, and apart from the repayments to be reinvested (unless cancelled!) there's only about £3M funding across all markets, which is the lowest I can recall. That reminds me of a question I have. How does RS allocate the funds between the markets? Can they manipulate the rates according to how borrowers money is distributed?
|
|
|
Post by fiatlender on Aug 18, 2018 11:55:27 GMT
Just got matched at 4.7% on rolling, even though I have been serving a ban for the last 17 days due to being a serial RYI'er
|
|
happy
Member of DD Central
Posts: 397
Likes: 497
|
Post by happy on Aug 18, 2018 12:31:27 GMT
Just got matched at 4.7% on rolling, even though I have been serving a ban for the last 17 days due to being a serial RYI'er Think they need all the money they can get ATM. They have probably suspended all bans to help liquidity but CBA to tell us, or dont want to lose face.....again
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Aug 18, 2018 18:23:41 GMT
Just got matched at 4.7% on rolling, even though I have been serving a ban for the last 17 days due to being a serial RYI'er Probably because the ban is only 14 days!
|
|
|
Post by Badly Drawn Stickman on Aug 18, 2018 18:34:56 GMT
Just got matched at 4.7% on rolling, even though I have been serving a ban for the last 17 days due to being a serial RYI'er Probably because the ban is only 14 days! I assumed he kept renewing it, presumably 14 days since last offence.
|
|
|
Post by fiatlender on Aug 18, 2018 19:02:43 GMT
4.7% loan order (along with other loan orders) was placed on the market before the ban/s started 17 days ago. Ban will continue until at least the end of this month.
|
|
jo
Member of DD Central
Posts: 727
Likes: 492
|
Post by jo on Aug 28, 2018 7:23:38 GMT
Rolling is a bit like the Venezuelan currency market atm. You get the 'official' 3% on reinvestments but when you pop out of the hotel with your interest rollovers, some guy pays you 4.5%.
|
|