ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
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Blimey
Nov 2, 2018 16:21:41 GMT
Post by ashtondav on Nov 2, 2018 16:21:41 GMT
C£500k on at 6.9% or 7%. Optimistic - or realistic?
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trevor
Member of DD Central
Posts: 556
Likes: 379
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Blimey
Nov 2, 2018 16:26:33 GMT
Post by trevor on Nov 2, 2018 16:26:33 GMT
Very optimistic. I just managed some 6.8 last month but plenty 6.6/6.7. No chance of that at the moment.
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cb25
Posts: 3,523
Likes: 2,666
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Blimey
Nov 2, 2018 16:41:32 GMT
Post by cb25 on Nov 2, 2018 16:41:32 GMT
Very optimistic. I just managed some 6.8 last month but plenty 6.6/6.7. No chance of that at the moment. I agree with you, last time I got 6.8% was Monday just gone (29/10)
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Blimey
Nov 2, 2018 17:33:03 GMT
Post by Ace on Nov 2, 2018 17:33:03 GMT
I'm hoping for 6.8% over the weekend. Currently £1.0m ahead of me, so not overly optimistic.
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Post by WestonKevTMP on Nov 2, 2018 17:54:02 GMT
Supply and Demand, innit. Except now and again when RateSetter do something silly upsetting the (money) supply side; Basically lenders have never been that elastic, and if lending volumes increase the returns can increase quite quickly to attract more cash....
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Stonk
Stonking
Posts: 735
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Blimey
Nov 3, 2018 21:42:21 GMT
Post by Stonk on Nov 3, 2018 21:42:21 GMT
Agreed. It feels to me like borrowing volumes have increased recently but lenders have been slow to react. I guess for many it takes time to mobilise significant cash.
Hence, we were well up in the high 6%'s for several weeks, but now looking like the next trend is downards.
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Blimey
Nov 4, 2018 8:50:20 GMT
Post by ogwellian on Nov 4, 2018 8:50:20 GMT
I got a fair bit at 6.9% between 16th and 21st of October. My last 6.8% was 28th.
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Blimey
Nov 4, 2018 12:38:35 GMT
Post by oppsididitagain on Nov 4, 2018 12:38:35 GMT
lending works.co.uk. 5yr rates from Nov 5 (tomorrow) are 6.5%. their early cancel fee is only 0.6%
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ashtondav
Member of DD Central
Posts: 1,805
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Blimey
Nov 4, 2018 13:17:28 GMT
Post by ashtondav on Nov 4, 2018 13:17:28 GMT
Yes, if it doesn’t look like 6.5%+ by month end repayments will be withdrawn and placed with LW.
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Blimey
Nov 4, 2018 16:05:49 GMT
Post by oppsididitagain on Nov 4, 2018 16:05:49 GMT
for every 0.1% increase in rates on a £1000 you will get £3 extra over the 5 yrs LW cancelation fee is 0.6%. RS cancelation fee is 1.5%
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puddleduck
Member of DD Central
Posts: 537
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Blimey
Nov 4, 2018 17:38:01 GMT
Post by puddleduck on Nov 4, 2018 17:38:01 GMT
for every 0.1% increase in rates on a £1000 you will get £3 extra over the 5 yrs LW cancelation fee is 0.6%. RS cancelation fee is 1.5% And higher rates on RS tend to pay back early I find. Although this can also be an advantage as you avoid the sell out fees in this case.
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Blimey
Nov 4, 2018 18:02:03 GMT
Post by df on Nov 4, 2018 18:02:03 GMT
for every 0.1% increase in rates on a £1000 you will get £3 extra over the 5 yrs LW cancelation fee is 0.6%. RS cancelation fee is 1.5% And higher rates on RS tend to pay back early I find. Although this can also be an advantage as you avoid the sell out fees in this case. I see earlier repayments as an advantage. There is always an opportunity to reinvest returns elsewhere and often at better rate for similar level of risk. I generally prefer shorter loans and like early repayments.
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Blimey
Nov 4, 2018 18:10:13 GMT
Post by df on Nov 4, 2018 18:10:13 GMT
Yes, if it doesn’t look like 6.5%+ by month end repayments will be withdrawn and placed with LW. My worry is that increased LW rates can create a massive queue for new money which will result in cash drag that may offset the benefit of the increase. I hope not. I will be adding some money tomorrow to test the queue.
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