benaj
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Post by benaj on Oct 10, 2018 15:11:25 GMT
I am curious about the actual loans themselves. I have about 5k matched @ 6%+ about 1 week ago on the 5 year market. Only 1 loan has 61 terms remaining, most of them have less than 58 terms remaining.
Some even has 7 terms remaining.
What's your thought?
BTW, I had 5% capital repaid for early repayment this morning as well.
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IFISAcava
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Post by IFISAcava on Oct 10, 2018 15:26:26 GMT
I am curious about the actual loans themselves. I have about 5k matched @ 6%+ about 1 week ago on the 5 year market. Only 1 loan has 61 terms remaining, most of them have less than 58 terms remaining. Some even has 7 terms remaining. What's your thought? BTW, I had 5% capital repaid for early repayment this morning as well. I had one at 6.7% that had 1 day remaining - repaid +31 pence the next day!
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robski
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Post by robski on Oct 10, 2018 15:55:58 GMT
Odd term loans are probably ones being sold on by someone else
I think you can get "brand new" 5 4 and 3 years on the 5 year marketplace
Of course a borrower can repay (or the prov fund) at any time, and also change terms
Its best to consider it an UPTO 5 year market.
If you look at the loan in detail you will see that often loans are xx months, but the original term was 60 months, this is displayed if you click on the loan
Excuse the formatting, just a cut n paste
Loan Term Remaining (months) 25
Status Accepted
Product 5 Year Income
Term (months) 60
I got this one yesterday
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cb25
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Post by cb25 on Oct 10, 2018 16:05:54 GMT
Odd term loans are probably ones being sold on by someone else I think you can get "brand new" 5 4 and 3 years on the 5 year marketplace Of course a borrower can repay (or the prov fund) at any time, and also change terms Its best to consider it an UPTO 5 year market. If you look at the loan in detail you will see that often loans are xx months, but the original term was 60 months, this is displayed if you click on the loan Excuse the formatting, just a cut n paste Loan Term Remaining (months) 25 Status Accepted Product 5 Year Income Term (months) 60 I got this one yesterday Agreed. One of my loans from 2 days back is a 60-month loan but with only 13-months remaining.
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Post by df on Oct 10, 2018 16:12:33 GMT
I am curious about the actual loans themselves. I have about 5k matched @ 6%+ about 1 week ago on the 5 year market. Only 1 loan has 61 terms remaining, most of them have less than 58 terms remaining. Some even has 7 terms remaining. What's your thought? BTW, I had 5% capital repaid for early repayment this morning as well. I got some shorter loans recently, one is 24 months. I'm guessing anything above 1 year can go into 5 year category and also they could be older loans sold by others. However, I don't understand why at the same time I have 36 months Rolling loan, shouldn't it be in 5 year product? No idea how it works with RS.
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rscal
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Post by rscal on Oct 10, 2018 17:38:22 GMT
[Imaginary correspondence]
Dear Ratesetter,
How can I have a rate that I set for myself and constant retention of my capital (as some rate of interest above zero) should the loan end early (and completely without notice) as well as penalty-free access regardless of the 'market' I am invested in?
Dear Investor,
You can't, because we don't pool the loans which would allow us to maintain liquidity (penalty-free access to your investment if you change your mind) regardless of 'market' setting by seemlessly matching your sell bid with a new investor that doesn't seek to set a rate but rather takes a rate offered to everyone at once at that time. To allow you to access a bespoke rate we have to 'match' you to an individual 'borrower' (and match your funds to their requirement often resulting in micro loans and a plethora of 'contracts') at that rate (plus our take) and you must then monitor and take charge of any repayments which are of course - entirely beyond your control - for yourself instead.
If you wanted to keep your money 'in the market' at all times you shouldn't have chosen us since the clue is in our name 'Ratesetter'
Best Wishes
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Oct 14, 2018 2:51:15 GMT
Odd term loans are probably ones being sold on by someone else I think you can get "brand new" 5 4 and 3 years on the 5 year marketplace Of course a borrower can repay (or the prov fund) at any time, and also change terms Its best to consider it an UPTO 5 year market. If you look at the loan in detail you will see that often loans are xx months, but the original term was 60 months, this is displayed if you click on the loan Excuse the formatting, just a cut n paste Loan Term Remaining (months) 25 Status Accepted Product 5 Year Income Term (months) 60 I got this one yesterday Agreed. One of my loans from 2 days back is a 60-month loan but with only 13-months remaining. My 6.9% offer eventually went last night, but was split into several parts with between 27 and 41 months remaining of 5 year loans. One was about half the amount, the other half dozen were a few £10s each! Normally my offers match in one go, so I wondered if this is a usual symptom at the top of the market, maybe exacerbated by people selling lower rates to play the system with the rates as they are?
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aju
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Post by aju on Dec 17, 2018 15:24:30 GMT
I got a loan this morning, a £10 tester on the 5yr @6.0% (see my novice thread) that is set for 61 months how does that one work then. does that mean 5Y has been uplifted to 5Y+ perhaps!.
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