star dust
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Post by star dust on Apr 11, 2019 13:24:06 GMT
There's still £4.2m at 5.9% and £1.1m at 6.0% yeah, its not looking that great I guess, I've left my money at 5.8%, its better than zopa and a bank so I'll settle for that at the moment. Its only 170k short in the 5.8 queue so may go tonight may go tomo perhaps. Its not the best time to be putting money in I guess but hey its still better than 0%. Mind you 3 weeks ago I was getting 6.4-6.6 those were the days ....In my experience with RS, where I only lend at 6% and above in the 5 year and 5.5% and above in the one year, you tend to have to grab it while you can. I don't go in for the steady trickle approach at all I withdraw if rates are no where near what I want and put biggish chunks in when they go higher if I can, although I have a platform limit I won't go much beyond.
Not sure how it would compare to a steady trickle, but it has something to do with my perception of risk and reward really, I'd rather have money parked in the mainstream FSCS protected at low rates than go for lower ones than I'm comfortable with on RS. Not sure how sensible it is either, but lets hope we won't need to find out the hard way 
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macq
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Post by macq on Apr 11, 2019 15:00:32 GMT
Its a shame really that the RS way of working does not allow them to do the same as LW have and put in a rate lock for the last and first month ISA season Why would you need to do that when you are getting the kind of levels at the moment they are getting. I guess its a P2P companies market ... Would seem to be a good deal for the investor as you know you can do a transfer or pay money in now (or even over the last few weeks) up till May 5th and know your rate on LW rather then the depressed rate on RS while waiting for the flood of ISA money to work through Maybe from LW point of view its better then a cashback promotion etc
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scc
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Post by scc on Apr 12, 2019 7:21:45 GMT
yeah, its not looking that great I guess, I've left my money at 5.8%, its better than zopa and a bank so I'll settle for that at the moment. Its only 170k short in the 5.8 queue so may go tonight may go tomo perhaps. Its not the best time to be putting money in I guess but hey its still better than 0%. Mind you 3 weeks ago I was getting 6.4-6.6 those were the days ....In my experience with RS, where I only lend at 6% and above in the 5 year and 5.5% and above in the one year, you tend to have to grab it while you can. I don't go in for the steady trickle approach at all I withdraw if rates are no where near what I want and put biggish chunks in when they go higher if I can, although I have a platform limit I won't go much beyond.
Not sure how it would compare to a steady trickle, but it has something to do with my perception of risk and reward really, I'd rather have money parked in the mainstream FSCS protected at low rates than go for lower ones than I'm comfortable with on RS. Not sure how sensible it is either, but lets hope we won't need to find out the hard way Yes, my approach is the same. At the extreme, I'd even rather put any excess money into premium bonds than go above my allocation for ratesetter/get paid lower rates. I just feel higher risk should come with an appropriately high reward. I appreciate there are other better paying savings accounts out there, but I can't be assed to keep opening accounts to chase only OK rates.
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gg
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Post by gg on Apr 12, 2019 8:49:31 GMT
6.2%+ has been nice in RateSetter recently but with a new ISA to fill I think 5.6%+ is still pretty good imho. Just need to reduce the amount of tax to be paid so I’m not adding funds but simply moving money from EveryDay account to the ISA account. The flood of money at the moment could mean that all my lending is done at weekends.
gg
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Apr 12, 2019 11:59:24 GMT
...I’m not adding funds but simply moving money from EveryDay account to the ISA account... gg That's exactly what I've been doing, ever since the RS IFISA was introduced. No new money either, just the repayments as they come in.
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benaj
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Post by benaj on Apr 12, 2019 14:12:03 GMT
Well, I do have DDs setup for RS to service my current accounts. Every little helps. Don't mind the flood at the moment, because the repayment is usually higher than what I put in.
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benaj
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Post by benaj on Apr 19, 2019 9:28:13 GMT
The other reason to put money into RS could be maximum limit on the platform is already reached. Marcus for example has a limit of 250k
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aju
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Post by aju on Apr 19, 2019 11:37:30 GMT
The other reason to put money into RS could be maximum limit on the platform is already reached. Marcus for example has a limit of 250k Yeah that's a high limit, I may be wrong but doesn't the fscs protection only run to 85k each or 170k for joint accounts - not sure marcus has a joint saver though. So whilst one may be able to put 250k that max safe amounts is much lower.
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smezz
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Post by smezz on Apr 20, 2019 6:22:40 GMT
Well, I do have DDs setup for RS to service my current accounts. Every little helps. Don't mind the flood at the moment, because the repayment is usually higher than what I put in. The Post Office has a savings account which allows you to set up a DD for £1.
They recently brought out a new one so I now have 2 of these with a DD each.
I go in on-line every few months and transfer it back.
I also have DDs to RateSetter for the min £10 which auto-invests in the 5 year at 6.8%.
While rates are low I just cancel the order and withdraw the £10 plus any repayments.
Other DDs are on old credit cards on which I just do a small spend each month - takes a bit of monitoring but just about worth it.
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Post by befuddled on Apr 23, 2019 10:52:15 GMT
The other reason to put money into RS could be maximum limit on the platform is already reached. Marcus for example has a limit of 250k Yeah that's a high limit, I may be wrong but doesn't the fscs protection only run to 85k each or 170k for joint accounts - not sure marcus has a joint saver though. So whilst one may be able to put 250k that max safe amounts is much lower. ...I hope you're not getting confused about FSCS protection on Ratesetter. There is none. All your money is fully at risk, so the 85K limit FSCS protection is irrelevant on Ratesetter I understand Ratesetter being FSFC compliant means they are obliged to adhere to certain rules and procedures in the way they run their business, but if they go bust, don't be expecting anything from FSFC except sympathy.....
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aju
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Post by aju on Apr 23, 2019 13:53:55 GMT
Yeah that's a high limit, I may be wrong but doesn't the fscs protection only run to 85k each or 170k for joint accounts - not sure marcus has a joint saver though. So whilst one may be able to put 250k that max safe amounts is much lower. ...I hope you're not getting confused about FSCS protection on Ratesetter. There is none. All your money is fully at risk, so the 85K limit FSCS protection is irrelevant on Ratesetter I understand Ratesetter being FSFC compliant means they are obliged to adhere to certain rules and procedures in the way they run their business, but if they go bust, don't be expecting anything from FSFC except sympathy..... I was not referring to RS but Marcus on the fscs cover in my answer. Not that I would store money in P2P holding account but isn't it perhaps covered by the fscs in that instance as its usually held in a Uk bank well for Zopa and RS that is. That said I've not actually read that in the rules and why anyone would want to keep 85k or £100 in holding rather than in a feeder account whilst waiting for decent rates to reappear is beyond me. I'm currently moving money from zopa to RS but when I have finished reducing zopa money and have enough for comfort in RS ISA's I'll be moving the rest back into an fscs covered bank account like Marcus whilst I/we wait for better rates in RS.
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Post by elephantrosie on May 29, 2019 10:09:26 GMT
why not invest on AC, as its as good as RS, if not better?
i want to invest on RS, but the 5 year rate is 5.1% now
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