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Post by Ace on Jan 13, 2019 18:29:34 GMT
I got matched at 6.4% too, but no notification email, again
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Post by gravitykillz on Jan 13, 2019 19:36:40 GMT
I got matched at 6.4% too, but no notification email, again The withdrawal fee makes the 5 year difficult for me to go for on ratesetter. Lending works offers 6.5% and 0.76% withdrawal fee. I prefer rolling and the 1 year contract
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aju
Member of DD Central
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Post by aju on Jan 13, 2019 19:44:05 GMT
I got matched at 6.4% too, but no notification email, again eh! Are you supposed to get notification emails every time you lend to a borrower, I've had quite a few lends over the last few weeks and not received any emails I can remember. Perhaps I turned off notifications on our accounts without realising it. (Alzheimer's setting in perhaps ...) Edit: I don't remember setting it off but just found that it is not ticked in mine or mrs aju's accounts. I'm guessing its a positive selection as I definitely don;t remember turning it off.
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Post by df on Jan 13, 2019 20:09:11 GMT
I got matched at 6.4% too, but no notification email, again The withdrawal fee makes the 5 year difficult for me to go for on ratesetter. Lending works offers 6.5% and 0.76% withdrawal fee. I prefer rolling and the 1 year contract If you invest in "5 year" at 6.4% and withdraw after 12 months you should get 4.9%, which is rare for "1 year" market. My first RS investment was in 1 year, it repaid 6 months earlier and I reinvested all returns elsewhere because I couldn't see any rationale behind "1 year" investment. Since then I use only "5 year" and Rolling on RS. LW offer is better, but I paused investing until the queue goes down.
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Post by Ace on Jan 13, 2019 20:30:15 GMT
I got matched at 6.4% too, but no notification email, again eh! Are you supposed to get notification emails every time you lend to a borrower, I've had quite a few lends over the last few weeks and not received any emails I can remember. Perhaps I turned off notifications on our accounts without realising it. (Alzheimer's setting in perhaps ...) Edit: I don't remember setting it off but just found that it is not ticked in mine or mrs aju's accounts. I'm guessing its a positive selection as I definitely don;t remember turning it off. Yes, mine's ticked, but still didn't get notified. This isn't rare for RS, same thing happened while back. I un-ticked and re-ticked the notification setting last time, which seemed to fix it for a bit. Can't be sure of cause and effect of course.
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Post by df on Jan 13, 2019 21:38:33 GMT
eh! Are you supposed to get notification emails every time you lend to a borrower, I've had quite a few lends over the last few weeks and not received any emails I can remember. Perhaps I turned off notifications on our accounts without realising it. (Alzheimer's setting in perhaps ...) Edit: I don't remember setting it off but just found that it is not ticked in mine or mrs aju's accounts. I'm guessing its a positive selection as I definitely don;t remember turning it off. Yes, mine's ticked, but still didn't get notified. This isn't rare for RS, same thing happened while back. I un-ticked and re-ticked the notification setting last time, which seemed to fix it for a bit. Can't be sure of cause and effect of course. Yes, happened to me several times. Keep re-ticking, but already got used to login and check the progress. In a way it's better to be checking the progress and changing the rate when necessary until investment is matched.
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Post by Badly Drawn Stickman on Jan 13, 2019 22:42:07 GMT
The withdrawal fee makes the 5 year difficult for me to go for on ratesetter. Lending works offers 6.5% and 0.76% withdrawal fee. I prefer rolling and the 1 year contract If you invest in "5 year" at 6.4% and withdraw after 12 months you should get 4.9%, which is rare for "1 year" market. My first RS investment was in 1 year, it repaid 6 months earlier and I reinvested all returns elsewhere because I couldn't see any rationale behind "1 year" investment. Since then I use only "5 year" and Rolling on RS. LW offer is better, but I paused investing until the queue goes down. I wouldn't argue with your logic on getting a good return 'cashing out' a 5 year loan, not sure the maths is quite that simple though. Given the loan is amortizing and the exit fee is on the capital it would give slightly different returns. What is really needed is an elegant excel sheet to do the sums from the three key inputs. Sadly that's probably beyond my knowledge of excel which tends to peak at competent rather than churning out elegant and simple.
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Post by Ace on Jan 13, 2019 23:53:46 GMT
If you invest in "5 year" at 6.4% and withdraw after 12 months you should get 4.9%, which is rare for "1 year" market. My first RS investment was in 1 year, it repaid 6 months earlier and I reinvested all returns elsewhere because I couldn't see any rationale behind "1 year" investment. Since then I use only "5 year" and Rolling on RS. LW offer is better, but I paused investing until the queue goes down. I wouldn't argue with your logic on getting a good return 'cashing out' a 5 year loan, not sure the maths is quite that simple though. Given the loan is amortizing and the exit fee is on the capital it would give slightly different returns. What is really needed is an elegant excel sheet to do the sums from the three key inputs. Sadly that's probably beyond my knowledge of excel which tends to peak at competent rather than churning out elegant and simple. I came to the same conclusion as df on RS 1 and 5 year products. Though I prefer GS as a rough equivalent of rolling on RS. If you took the LW option and assumed that all repayments (interest and capital) are reinvested the same day, which is not far off reality from my LW experience, there would be no need for any excel skills. The benefit is obviously even greater if you find that you don't actually need to cash out after a year. The longer you can leave it the better.
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Post by gravitykillz on Jan 14, 2019 9:28:14 GMT
Very annoying. 3k i invested last night at 4% on rolling was returned to my holding account just now. Guess the person decided not to accept the loan ?
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Steerpike
Member of DD Central
Posts: 1,961
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Post by Steerpike on Jan 14, 2019 9:42:12 GMT
Very annoying. 3k i invested last night at 4% on rolling was returned to my holding account just now. Guess the person decided not to accept the loan ? Recently I invested a rather larger sum in Octopus Choice and it was all deployed within 24 hours and is still invested completely hands-off and of course backed by Octopus first loss and secured against property. At the same time I invested a similar amount with Ratesetter rolling and have been plagued with early repayments and have to log in frequently to tiddle with my rate to achieve a reasonable return and full deployment and of course most of the loans are not backed by security. I continue to use both sites for the sake of diversity but Octopus is much easier to use and provides a better return.
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Post by gravitykillz on Jan 14, 2019 10:06:30 GMT
Very annoying. 3k i invested last night at 4% on rolling was returned to my holding account just now. Guess the person decided not to accept the loan ? Recently I invested a rather larger sum in Octopus Choice and it was all deployed within 24 hours and is still invested completely hands-off and of course backed by Octopus first loss and secured against property. At the same time I invested a similar amount with Ratesetter rolling and have been plagued with early repayments and have to log in frequently to tiddle with my rate to achieve a reasonable return and full deployment and of course most of the loans are not backed by security. I continue to use both sites for the sake of diversity but Octopus is much easier to use and provides a better return. That sounds fantastic but i would rather have my money returned to me and set auto invest than have defaults or my capital frozen til who knows when. If you check oc threads that does happen. Have you had any defaults and do you still have access to 100% of your funds ?
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Post by gravitykillz on Jan 14, 2019 10:18:27 GMT
Mind you i did create a new account with oc yesterday and made a small deposit of £100 the money is not invested yet and not available for withdrawal. But reading oc threads do not fill me with confidence. Losing 100% access to your capital for 4% interest is not good value compared to other p2p lenders in the market right now.
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Steerpike
Member of DD Central
Posts: 1,961
Likes: 1,680
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Post by Steerpike on Jan 14, 2019 10:38:41 GMT
Recently I invested a rather larger sum in Octopus Choice and it was all deployed within 24 hours and is still invested completely hands-off and of course backed by Octopus first loss and secured against property. At the same time I invested a similar amount with Ratesetter rolling and have been plagued with early repayments and have to log in frequently to tiddle with my rate to achieve a reasonable return and full deployment and of course most of the loans are not backed by security. I continue to use both sites for the sake of diversity but Octopus is much easier to use and provides a better return. That sounds fantastic but i would rather have my money returned to me and set auto invest than have defaults or my capital frozen til who knows when. If you check oc threads that does happen. Have you had any defaults and do you still have access to 100% of your funds ? This is a valid point, currently I have immediate access to 97.74% of my investment with 1 loan out of 92 having a late payment. For now I am relaxed about this as I have confidence in the platform and security based lending to allow withdrawal of almost all of my funds immediately with good prospects of the remainder being returned later. However, the loan book is not yet mature and I will be monitoring performance in the future. Of course, RateSetter is not risk free either, unsecured loans are inherently risky, and recession could result in reduced interest and/or capital losses spread across the lender base.
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Post by df on Jan 14, 2019 14:27:53 GMT
If you invest in "5 year" at 6.4% and withdraw after 12 months you should get 4.9%, which is rare for "1 year" market. My first RS investment was in 1 year, it repaid 6 months earlier and I reinvested all returns elsewhere because I couldn't see any rationale behind "1 year" investment. Since then I use only "5 year" and Rolling on RS. LW offer is better, but I paused investing until the queue goes down. I wouldn't argue with your logic on getting a good return 'cashing out' a 5 year loan, not sure the maths is quite that simple though. Given the loan is amortizing and the exit fee is on the capital it would give slightly different returns. What is really needed is an elegant excel sheet to do the sums from the three key inputs. Sadly that's probably beyond my knowledge of excel which tends to peak at competent rather than churning out elegant and simple. I'm rubbish at excel - wish I had a template that calculates everything.... There are other factors that will give different returns. As much as I know you have compensate if the current rate is higher than the original loan. It also depends on what you've done with monthly returns received so far. When investing in 5-year I don't plan to sell loans early, but it's a peace of mind.
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Post by oppsididitagain on Jan 14, 2019 17:53:45 GMT
I wouldn't argue with your logic on getting a good return 'cashing out' a 5 year loan, not sure the maths is quite that simple though. Given the loan is amortizing and the exit fee is on the capital it would give slightly different returns. What is really needed is an elegant excel sheet to do the sums from the three key inputs. Sadly that's probably beyond my knowledge of excel which tends to peak at competent rather than churning out elegant and simple. I'm rubbish at excel - wish I had a template that calculates everything.... There are other factors that will give different returns. As much as I know you have compensate if the current rate is higher than the original loan. It also depends on what you've done with monthly returns received so far. When investing in 5-year I don't plan to sell loans early, but it's a peace of mind. Amortisation tables can be found here. www.vertex42.com/ExcelTemplates/excel-amortization-spreadsheet.html.
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