ashtondav
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Post by ashtondav on Dec 6, 2019 9:26:44 GMT
Never had a nibble above 5% in the old 5 year.
The search for 6% among the relatively safe p2p platforms is doomed, I fear. Among the black box accounts only AC 90 day comes near.
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aju
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Post by aju on Dec 6, 2019 14:53:57 GMT
Never had a nibble above 5% in the old 5 year. The search for 6% among the relatively safe p2p platforms is doomed, I fear. Among the black box accounts only AC 90 day comes near. I was gaming the system - waiting for the Sunday/Monday slowdown windows - so we got quite a bit above 5% in fact. The highest one was at 6.4% lent back in April but that one finished a couple of weeks ago. Also we have a 6% in Access/Rolling lent in mid September. Most recent 5Y 6.0% was towards end of August still running its not so easy now though but there are burst occasionally.
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sd2
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Post by sd2 on Dec 6, 2019 20:57:55 GMT
Never had a nibble above 5% in the old 5 year. The search for 6% among the relatively safe p2p platforms is doomed, I fear. Among the black box accounts only AC 90 day comes near. And unbolted who just raised interest rates
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sd2
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Post by sd2 on Dec 6, 2019 21:01:39 GMT
One way to look at it is ratesetter/ lending works were lending at unsustainable interest rates. Ones where they were not profitable. So be pleased we got the good rates when they were available.
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Post by gravitykillz on Dec 7, 2019 20:13:21 GMT
Is it possible to get 4% or more on the access market now ?
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sd2
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Post by sd2 on Dec 10, 2019 13:39:57 GMT
Just got 4.8% in 5 year was at 4.9% when I got my debit card out!
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aju
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Post by aju on Dec 10, 2019 14:11:26 GMT
So I've been in the 1Y @ 5% for about 3 days now and I've moved roughly 12% nearer the front of the queue. with the queue currently at 520k and my position 460k.
(520k - 460k) / 520k = 12%
I think its going to take a while to get to the front but as I say its very bursty so who knows. It went up quite a bit yesterday but almost halved today £'s wise.
100 /12 = 8.3
8.3 * 3 = Approx 24 days to get lent
Of coarse the reality is how much headroom it may move up and also how much each of the orders is value wise as well. I'm never too sure that the number of orders equates correctly but there are 862 on at the of writing. I'll watch it another couple of days to see if I can get anymore out of what happens on this queue.
Of course if I let this run too long then the gained interest above the 4.8 and 4.9 are lost anyway.
Edit: As I was writing this there must have been quite a bit loaded onto the 5.0% as its dropped right down to 54k and I can't see my order in the queue anymore its not in my holding either so its either been lent out as I was about to move it to 4.9% where the front of the queue was. Not sure if I managed 4.9% or 5.0% was snapped up as I cannot see it anymore.
Amount on market £401.67 with £29.05 unmatched
Not sure where the rest has gone.
The 1Y 5% queue is currently sitting @ 71k and I have the 29.05 on at 5.1% another burst might suck that up too.
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Post by stuart543 on Dec 10, 2019 17:21:44 GMT
So I've been in the 1Y @ 5% for about 3 days now and I've moved roughly 12% nearer the front of the queue. with the queue currently at 520k and my position 460k. Sorry to be so thick but I didn't realise they'd re-introduced the queue. How do I see it? 1Yr currently has £70k waiting to be borrowed at 5 - hopefuly I might get my 5.1 & 5.2 lent this week
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Post by stevexxx on Dec 10, 2019 18:00:57 GMT
I gave up and settled for 4.7 yesterday.. just got 4.8 today.,
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aju
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Post by aju on Dec 10, 2019 19:10:34 GMT
So I've been in the 1Y @ 5% for about 3 days now and I've moved roughly 12% nearer the front of the queue. with the queue currently at 520k and my position 460k. Sorry to be so thick but I didn't realise they'd re-introduced the queue. How do I see it? 1Yr currently has £70k waiting to be borrowed at 5 - hopefuly I might get my 5.1 & 5.2 lent this week Ok its not like the old queue in the sense that one could see it clearer but its possible to see what the queue is doing by using the system as follows. 1. Starting with market data select the 1Y view full market rate This will give you a sense of where the market is at before you make a lend order. 2. Once you have selected the level you want to lend at then make the order using the Invest option At the point the order is posted you should be able to see it in the my account | your Money screen 3. In "Your portfolio" section the 1 Year product should have a pink/red pencil entry in front of the On Market value. Select/Click the pencil and it will bring up the "Unmatched orders in 1 Year" Screen 4. If you now select/click this pencil you will be presented with the edit order screen (Dont click anything yet) Warning: At this point if you don't want to make changes do not click anything other than Cancel, X or outside the edit order box. DO NOT CLICK THE GREEN EDIT ORDER BUTTON even if you have not made any changes "EDIT ORDER" will reset your lend to the back of the queue.5. Leave the order there for a day or so 6. Using the "market data" in 1Y. view full market rate and take note of the amount at the rate you used 7. Use the Edit order screen for the order you set - pencil At this point when the screen opens your rate should be at the top with -+ either side just below these it will say something like "There is £341.0k waiting to be matched ahead of you. By selecting 5.0% you can skip the queue and get matched sooner." In this case my I just press ctrl R for reload and see that the 5.2% queue i'm currently @ 343.3k. So hopefully you can see that the queue position I have is < that the headroom of the market rates. It's been sitting there for 4 hours but by the end of the day as long as I make sure I take the same values relative to the market rate screen then I know its moving down the queue. This morning as I said above it looked like it might take another few days or worse but in fact as the 1Y has large amounts dumped into it at anytime it can suddenly scoop up large amounts of loans. It may seem like a bit of a faff to set this up but I keep the market rate in the bottom left of my screen and I use the main screen to do the lending and checking just making sure I line the two up. They don't always seem to be in sync value wise but hopefully you can see what I am getting at once you have tried it a few times. Hopefully that's not too heavy but it is worth the effort if you you want better rates.
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aju
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Post by aju on Dec 10, 2019 19:14:24 GMT
I gave up and settled for 4.7 yesterday.. just got 4.8 today., yeah after i talked about my 5.0% above I was in the edit screen and thought I would set it to 4.9% rather than wait for the 5.0% to be scooped up get it lent quickly and move on. I set the rate to 4.9% and went to save it and RS rejected my request as no funds available. The reason there was no funds was that it had already lent @ 5.0% while I was expecting the 500k odd to take a while. RS clearly injected >500k into the 1Y whilst I was dithering!. As said earlier the 1y is quite bursty somedays. I think someone else mentioned it is mortgage market stuff perhaps.
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Post by stuart543 on Dec 10, 2019 19:49:24 GMT
Wow thanks aju for the above detailed explanation. I can now see £155k ahead of my earliest 5.2 which is great. Don't know why they can't just re-instate the old queue view like they said they were going to!
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aju
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Post by aju on Dec 10, 2019 19:56:07 GMT
Wow thanks aju for the above detailed explanation. I can now see £155k ahead of my earliest 5.2 which is great. Don't know why they can't just re-instate the old queue view like they said they were going to! They sort of have in the sense that they had always intended for the edit order screen to work this way it just took them time to implement it - and get it right. As you say its not ideal but the queues don;t actually work the same way as they used to anyway - I think. Anyway hopefully they don;t see how some of us can still work the system with this method and then remove it. They do seem to be moving towards a much simpler, we lend it and control where it goes and at what level of interest we want, method rather than we as users really are able to set relevant rates. The new business method remains to be seen whether it works for them they they envisage.
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