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Post by Deleted on Nov 4, 2019 10:00:46 GMT
Over 300k available at 6.7%
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r00lish67
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Post by r00lish67 on Nov 4, 2019 10:04:18 GMT
Over 300k available at 6.7% <springs for debit card, and collapses into heap halfway as realisation dawns......> Totally lame! What makes an investor who happened to have £10 in 1-year at the time of the change more valuable than someone who had thousands just weeks before?! edit: despite frequent accusations of RS's manipulation of the market, it just goes to show how actually little control they seem to have. It's not like they need to offer 6.7% is it, they could probably find plenty of investors immediately at 5.2%.
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Stonk
Stonking
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Post by Stonk on Nov 4, 2019 10:11:57 GMT
Same situation here. Grrr. I have been withdrawing from RS all year, but always with an eye on rates with a view to getting back in if they improved. 6.7% on any market would definitely have done it (all the more so on 1 Year), if only I could see it.
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Post by Deleted on Nov 4, 2019 10:20:10 GMT
The matched lending has just changed into unmatched and rates are back to normal. Not sure what's going on, but hopefully that makes you feel better.
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r00lish67
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Post by r00lish67 on Nov 4, 2019 10:21:31 GMT
Same situation here. Grrr. I have been withdrawing from RS all year, but always with an eye on rates with a view to getting back in if they improved. 6.7% on any market would definitely have done it (all the more so on 1 Year), if only I could see it.
This is obviously just the bitterness talking, but I don't even understand why they'd place that borrower order on the 1 year queue. Is it because they're not allowed to put interest-only loans on an amortising market? But if that's the case, why restrict 1-year to a subset of legacy investors, rather than everyone? Me no understand. edit: X-posted with Inv11, sounds like perhaps a total fu-bar?
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r00lish67
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Post by r00lish67 on Nov 4, 2019 10:22:24 GMT
The matched lending has just changed into unmatched and rates are back to normal. Not sure what's going on, but hopefully that makes you feel better. If I was a better man, it wouldn't
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Post by turton on Nov 4, 2019 10:31:46 GMT
Ive had money in the 1yr queue for weeks at 5.3-5.5 none of that has been touched, did any orders match at 6.7?
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Stonk
Stonking
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Post by Stonk on Nov 4, 2019 10:35:51 GMT
They do screw up occasionally on 1 Year. I had an 8.9% loan around last Christmas, which had been put on the market at the wrong rate (jumping in higher than existing lender orders without matching them, if I recall correctly). That lasted 10 days before, err, "the borrower repaid".
Maybe I shouldn't get excited about such obviously erroneous spikes. They do have a very strong tendency to be unwound a few days later.
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thedog
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Post by thedog on Nov 4, 2019 10:39:47 GMT
Don't THINK any of it would actually have matched at 6.7% though would it? Did anyone on here actually get any?
I have unmatched orders at about 5% which have not been filled and there's a queue of £900k at 6.7% or lower.... (So if anyone DID get anything just now at 6.7% I'd love to hear how you did it becase I'm clearly missing a trick!)
Edit: Sorry turton crossed with your similar reply
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Post by Deleted on Nov 4, 2019 10:45:40 GMT
Ive had money in the 1yr queue for weeks at 5.3-5.5 none of that has been touched, did any orders match at 6.7? It would have shown as matched for a while but still on market, and then back to unmatched. That's how mine went anyway.
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Post by cinereus on Nov 4, 2019 13:04:57 GMT
Ive had money in the 1yr queue for weeks at 5.3-5.5 none of that has been touched, did any orders match at 6.7? It would have shown as matched for a while but still on market, and then back to unmatched. That's how mine went anyway. So effectively they will just say it was a display error and was never actually there?
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Post by Deleted on Nov 4, 2019 13:05:48 GMT
Yes probably.
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aju
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Post by aju on Nov 4, 2019 14:13:44 GMT
I'm sure you are all right but for me its not beyond the bounds that they have screwed something up in the engine as well after all there are many problems with new/replaced screens. Most are minor, except for the email notifications that are a "known issue", but I'm guessing there will be major ones as well not that anyone will admit to it unless we can see it in data we have access to and can then report it and hold them to ransom task. Edit: The 1Y has Borrower offers of 362k and my 5.4% is sitting at 284k I have a 1min time on reload but nothing seems to be happening ....
Edit2: Just noticed that a reload at the "Unmatched orders in 1 Year" screen and then clicking the edit tick seems to show the position of my bid reducing the headroom!. Thats handy shame can't have my reloader work on that option too. Mind you watching the Lender Market detail screen with reloading every minute does show the reduction in the borrower offers that in turn moves my lend offer headroom position reducing.
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mary
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Post by mary on Nov 4, 2019 14:47:23 GMT
Edit: The 1Y has Borrower offers of 362k and my 5.4% is sitting at 284k I have a 1min time on reload but nothing seems to be happening ....
While it may seem counterintuitive that large orders are appearing on the 1 year, especially as there is still £3.7m on the new markets, if this order did consume the money offered at 3.5% on Access if would potentially encourage more Lenders to raise their expectations further on Access? Plus many cannot view the 1 and 5 year any more, so cannot see the whole demand picture. As it is, liquidity seems to have reduced overall since the changes and matches may hit GR + 0.5% later today.
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robski
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Post by robski on Nov 4, 2019 15:44:03 GMT
Edit: The 1Y has Borrower offers of 362k and my 5.4% is sitting at 284k I have a 1min time on reload but nothing seems to be happening ....
While it may seem counterintuitive that large orders are appearing on the 1 year, especially as there is still £3.7m on the new markets, if this order did consume the money offered at 3.5% on Access if would potentially encourage more Lenders to raise their expectations further on Access? Plus many cannot view the 1 and 5 year any more, so cannot see the whole demand picture. As it is, liquidity seems to have reduced overall since the changes and matches may hit GR + 0.5% later today. Already hit GR + 0.5% and could go higher yet, repayments look slooooow £1M being lent before that cash starts to go back on the market and you would be at GR + 1% right now, there isnt much depth of lending between +0.5% and +0.9% (just under £1M) I think if lending is half decent this week you may fairly easily get GR +0.8/0.9% once the main Monday cash is sorted and lent back out
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