robski
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Post by robski on Dec 11, 2019 14:11:42 GMT
Quite a lot seem to be changing their approach to RS, so interesting to see the thoughts
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ashtondav
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Post by ashtondav on Dec 11, 2019 14:16:55 GMT
I need the diversification of RS, so i'm dumping withdrawals in Access at 3.5% because 4% with 90 days interest for withdrawals is as barmey as barmey can be.
I still prefer RS unsecured lending with a PF to ZOPA's unsecured lending with no PF, and RS has always delivered the rates ive asked for - ZOPA has emphatically failed at that the last two years.
I did like LW until the latest rate drop which shows they have misunderstood their model.
In short, i'm not happy with any of the big boys right now - but i need more that the 1.5% i can get at the BS.
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benaj
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Post by benaj on Dec 11, 2019 14:36:21 GMT
I top up access regularly because I like the flexibility and other feature RS offers. I wish I kept my 1yr market, but no big deal.
For a 5K monthly top up, RS access actually works out better for me compared than those 4.1%+ due to combination of RS feature & 0 access fee.
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Post by scepticalinvestor on Dec 11, 2019 14:48:02 GMT
Running it down, as I am with all my P2P options.
Unfortunately, it's a case of 'once burnt twice shy' for me. I just don't have the required risk appetite to leave money in with P2P, too much going on in the market and regulatory space plus just not enough skin in the game for the people who run the show. Having said that, RS is definitely one of the better ones though.
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sl75
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Post by sl75 on Dec 11, 2019 16:23:01 GMT
Theoretically I'll re-invest repayments as they come in at 5.x% for low values of x (may even consider 5.0% at a push if I've not much other use for the money at the time), and add more money for higher values of x.
Given the expected lull in activity over the Christmas / New Year period, however, I'm sure that in practice I'll be withdrawing everything as it comes in, so that's what I selected, as I can't see myself doing anything else for at least the next few weeks.
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r00lish67
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Post by r00lish67 on Dec 11, 2019 16:56:41 GMT
I top up access regularly because I like the flexibility and other feature RS offers. I wish I kept my 1yr market, but no big deal. For a 5K monthly top up, RS access actually works out better for me compared than those 4.1%+ due to combination of RS feature & 0 access fee. What is this mysterious twice underlined RS feature of which I read? I wish to subscribe to your newsletter..
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mark123
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Post by mark123 on Dec 11, 2019 17:40:53 GMT
I would like to increase my investment but cannot even maintain it as rates are below my assessment of the risk so I am reluctantly withdrawing interest and capital as it is repaid.
RS appear to be successful at getting people to invest at 3% or 4% which surprises me as you can get 1% or 2% with FSCS protection. Is a 2% premium really sufficient for the innovative P2P risk?
Good luck, Mark
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ashtondav
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Post by ashtondav on Dec 11, 2019 17:54:51 GMT
Max you can get is 1.5% instant access. You're getting a 100% premium from RS access - that's a fair old whack given the capital coverage ratio of the PF.
It compares very well with ZOPA whose peoducts are awful - i think they will ditch p2p for banking.
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coogaruk
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Post by coogaruk on Dec 11, 2019 18:11:54 GMT
Max you can get is 1.5% instant access. You're getting a 100% premium from RS access But RS Access a) isn't an instant access savings account and b) has no guaranteed protection.
Some may feel a 100% premium is worth the risk though.
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coogaruk
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Post by coogaruk on Dec 11, 2019 18:23:05 GMT
I chose the "Not adding but reinvesting everything" box though having said that my investment remains under constant review.
All of my Everyday money is in 5 Year and is being fed into the RS IFISA as repayments come in.
My ISA balance is spread between all the old markets but is becoming heavily weighted towards the 1 Year, which will continue while I am averaging close to 5%
I have no interest in Max or Plus so if (more likely when) the old markets are withdrawn or I can no longer achieve my minimum required returns then I will go into drawdown, having followed similar paths with FC and Zopa (I've a couple of hundred £ left in Zopa and close to £1.5k in FC) since they moved away from the original P2P concept.
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ashtondav
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Post by ashtondav on Dec 11, 2019 18:29:50 GMT
I chose the "Not adding but reinvesting everything" box though having said that my investment remains under constant review.
All of my Everyday money is in 5 Year and is being fed into the RS IFISA as repayments come in.
My ISA balance is spread between all the old markets but is becoming heavily weighted towards the 1 Year, which will continue while I am averaging close to 5%
I have no interest in Max or Plus so if (more likely when) the old markets are withdrawn or I can no longer achieve my minimum required returns then I will go into drawdown, having followed similar paths with FC and Zopa (I've a couple of hundred £ left in Zopa and close to £1.5k in FC) since they moved away from the original P2P concept.
But where to go Coogs?
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ashtondav
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Post by ashtondav on Dec 11, 2019 18:35:29 GMT
Max you can get is 1.5% instant access. You're getting a 100% premium from RS access But RS Access a) isn't an instant access savings account and b) has no guaranteed protection.
Some may feel a 100% premium is worth the risk though.
Oh i remember when BS accounts became "non instant access".
You really think HM Government is going to be "instant" for £85,000? No flippin way - and nowhere do they make that claim, which they would -if they could.
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coogaruk
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Post by coogaruk on Dec 11, 2019 18:38:22 GMT
I chose the "Not adding but reinvesting everything" box though having said that my investment remains under constant review.
All of my Everyday money is in 5 Year and is being fed into the RS IFISA as repayments come in.
My ISA balance is spread between all the old markets but is becoming heavily weighted towards the 1 Year, which will continue while I am averaging close to 5%
I have no interest in Max or Plus so if (more likely when) the old markets are withdrawn or I can no longer achieve my minimum required returns then I will go into drawdown, having followed similar paths with FC and Zopa (I've a couple of hundred £ left in Zopa and close to £1.5k in FC) since they moved away from the original P2P concept.
But where to go Coogs? That's the $64m question. I get a pretty good average return on my well-diversified OEICS which have also proved consistent for more than ten years now with some very good capital gains on top. I've put more into stocks and shares - with varying degrees of success (and failure!) and do you know what?... I'm not that averse to the paltry returns to be had on cash at the moment! (which can be also be used to good effect when other opportunities present)
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littleoldlady
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Post by littleoldlady on Dec 11, 2019 18:39:23 GMT
You really think HM Government is going to be "instant" for £85,000? No flippin way - and nowhere do they make that claim, which they would -if they could. They don't make the claim because it is not the Government that pays out. It is the FSCS which is funded by a levy on IFAs, not out of taxation.
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macq
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Post by macq on Dec 11, 2019 18:45:50 GMT
The FSCS say/claim they would pay the majority of claims in 7 days or if more complex within 20 days
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