Post by bernythedolt on Oct 4, 2019 13:34:10 GMT
Call me sad, but I used to enjoy logging into Ratesetter to check on the ebb and flow of market forces and whether the day's ever fluctuating figures offered the potential to snipe a loan at a decent rate (one which properly reflects the investment risk being taken) on any of the three separate markets. This approach has produced my reasonably healthy Access / 1 year / 5 year portfolio of 5.5% / 4.9% / 5.6% respectively - and I know many here have managed to beat that handsomely.
When I log on now, it makes my heart sink to see the miserable rates of 3% / 4% / 5% with no longer even a chance of fluctuation, given these rates are now fixed semi-permanently by Ratesetter.
With Ratesetter now determining the rate - in place of lenders and borrowers by mutual agreement - it seems gone are the days of sniping a better deal, and I suspect Ratesetters have now sucked out what little remaining interest I had after the succession of negative changes they've been making recently.
Not being inclined to leave my investment languishing at (going rate plus x%) for weeks on end without a bite (as I believe will now happen, especially since there is currently over £3million languishing at 3% chasing a few £thousand of loan requests), I am looking elsewhere. I also dislike the fact that we can no longer predetermine the term of our loans, and can be matched randomly to a 1 year or 5 year loan, or anything in between, whereas we used to control that parameter ourselves.
I rue this complete loss of control over our investment parameters, both the percentage and the term of the loan. Any suggestions for a more interesting platform in this respect? Years ago Zopa used to be interesting, but is now dull as ditchwater and sadly RS has gone the same way this month.
When I log on now, it makes my heart sink to see the miserable rates of 3% / 4% / 5% with no longer even a chance of fluctuation, given these rates are now fixed semi-permanently by Ratesetter.
With Ratesetter now determining the rate - in place of lenders and borrowers by mutual agreement - it seems gone are the days of sniping a better deal, and I suspect Ratesetters have now sucked out what little remaining interest I had after the succession of negative changes they've been making recently.
Not being inclined to leave my investment languishing at (going rate plus x%) for weeks on end without a bite (as I believe will now happen, especially since there is currently over £3million languishing at 3% chasing a few £thousand of loan requests), I am looking elsewhere. I also dislike the fact that we can no longer predetermine the term of our loans, and can be matched randomly to a 1 year or 5 year loan, or anything in between, whereas we used to control that parameter ourselves.
I rue this complete loss of control over our investment parameters, both the percentage and the term of the loan. Any suggestions for a more interesting platform in this respect? Years ago Zopa used to be interesting, but is now dull as ditchwater and sadly RS has gone the same way this month.
