scc
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Post by scc on Jan 28, 2020 18:26:53 GMT
I got 4.4 on Access a little while ago. That'll do nicely.
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Stonk
Stonking
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Post by Stonk on Jan 28, 2020 19:07:41 GMT
I think you'll struggle for 5% for a few days, as the queue at 3% is 725k right now. I think you underestimate how much gets matched on the market each day - assuming you were correct about the £725k, that's been completely obliterated, and there's over £256k unmatched that will now be needing to find money at higher rates (got my debit card out again tonight!)
Yes, today's wall was £700K-plus, and was quickly bulldozed down.
I am not quite at the point of dusting off my debit card yet, but every week it seems more likely that I will be getting back into RS sometime soon. In the past, I always aimed for 6.5% on 5 Year, which would come round every now and then (although obviously not since The Changes). RS is still broadly doing the same business it used to, so I will be looking for the equivalent, i.e., GR + 2.5% would tempt me to deposit into Max.
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robski
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Post by robski on Jan 29, 2020 12:48:53 GMT
Actually I had another thought
With the increase in property, are we seeing a short term impact from bullets becoming a higher percentage?
I never had any loans previously that were interest at the end (well apart from a few one year), but now I seem to be picking up ever more frequent loans that make no repayments until the end.
So whilst my capital invested is staying the same, I have less cash for reinvestment constantly coming back in.
This change in liquidity could also change the trend on rates to my mind, until they start to repay as quickly as they are being written
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Jan 29, 2020 18:19:05 GMT
I got 4.4 on Access a little while ago. That'll do nicely. I managed 4.9% (expected) & 5.4% (pleasant surprise). Yesterday evening I think. NB. New orders not relending of existing contracts.
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Stonk
Stonking
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Post by Stonk on Jan 29, 2020 18:22:07 GMT
Now at GR + 2.7%, with enough borrower offers to take it to GR + 3.0% if RS allow them to match.
And it's only Wednesday. Must .... resist ... reaching for debit card ... it will go higher still ...
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aju
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Post by aju on Jan 29, 2020 19:26:18 GMT
Interesting my £85 punt of 5.8% on access went on at 5.9% .It's a 54 week loan with 52 weeks left but rather curiously as I say I got 5.9% in the last hour or so and the borrowers loan details are rather at odds with my rate.
Loan number ********** Original loan term 54 months Loan term remaining 52 months Loan type Amortising The annual interest cost to the borrower 3.7% Borrower APR - The overall annualised cost to the borrower, including fees 6.9% Borrower Fees p.a. 1.2% Borrower category: Consumer
With those figures and my loan carrying 5.9% I can;t see how it will last long it looks to me like it will be pulled in not too distant future.
Anyone care to comment?
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Stonk
Stonking
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Post by Stonk on Jan 29, 2020 19:34:40 GMT
Interesting my £85 punt of 5.8% on access went on at 5.9% .It's a 54 week loan with 52 weeks left but rather curiously as I say I got 5.9% in the last hour or so and the borrowers loan details are rather at odds with my rate. Loan number ********** Original loan term 54 months Loan term remaining 52 months Loan type Amortising The annual interest cost to the borrower 3.7% Borrower APR - The overall annualised cost to the borrower, including fees 6.9% Borrower Fees p.a. 1.2% Borrower category: Consumer With those figures and my loan carrying 5.9% I can;t see how it will last long it looks to me like it will be pulled in not too distant future. Anyone care to comment?
Well, it shouldn't be repaid quickly -- at least, not because RS are making no money from it -- because RS have repeatedly stated that loans are repaid early only if the actual borrower does so, and never as a result of internal shenanigans.
It's tough luck for RS if they offer to lend someone money and then the market will only fund it at a loss for RS.
Bear in mind, since this loan is second-hand, RS may have made some money in fees from the previous owner (depending on which pseudo-market the previous owner held it on).
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Post by gravitykillz on Jan 29, 2020 19:35:17 GMT
Interesting my £85 punt of 5.8% on access went on at 5.9% .It's a 54 week loan with 52 weeks left but rather curiously as I say I got 5.9% in the last hour or so and the borrowers loan details are rather at odds with my rate. Loan number ********** Original loan term 54 months Loan term remaining 52 months Loan type Amortising The annual interest cost to the borrower 3.7% Borrower APR - The overall annualised cost to the borrower, including fees 6.9% Borrower Fees p.a. 1.2% Borrower category: Consumer With those figures and my loan carrying 5.9% I can;t see how it will last long it looks to me like it will be pulled in not too distant future. Anyone care to comment? Enjoy it while it lasts....
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aju
Member of DD Central
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Post by aju on Jan 29, 2020 19:39:21 GMT
Interesting my £85 punt of 5.8% on access went on at 5.9% .It's a 54 week loan with 52 weeks left but rather curiously as I say I got 5.9% in the last hour or so and the borrowers loan details are rather at odds with my rate. Loan number ********** Original loan term 54 months Loan term remaining 52 months Loan type Amortising The annual interest cost to the borrower 3.7% Borrower APR - The overall annualised cost to the borrower, including fees 6.9% Borrower Fees p.a. 1.2% Borrower category: Consumer With those figures and my loan carrying 5.9% I can;t see how it will last long it looks to me like it will be pulled in not too distant future. Anyone care to comment? Enjoy it while it lasts.... Now Now ...
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Post by herringbone on Jan 29, 2020 20:05:39 GMT
Interesting my £85 punt of 5.8% on access went on at 5.9% .It's a 54 week loan with 52 weeks left but rather curiously as I say I got 5.9% in the last hour or so and the borrowers loan details are rather at odds with my rate. Loan number ********** Original loan term 54 months Loan term remaining 52 months Loan type Amortising The annual interest cost to the borrower 3.7% Borrower APR - The overall annualised cost to the borrower, including fees 6.9% Borrower Fees p.a. 1.2% Borrower category: Consumer With those figures and my loan carrying 5.9% I can;t see how it will last long it looks to me like it will be pulled in not too distant future. Anyone care to comment? Enjoy it while it lasts.... Does it say how much the total loan is? Maybe it's a small part of a loan with an average lender rate far lower. I don't know how the system works from the borrower's end.
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Post by df on Jan 29, 2020 20:20:51 GMT
Enjoy it while it lasts.... Does it say how much the total loan is? Maybe it's a small part of a loan with an average lender rate far lower. I don't know how the system works from the borrower's end. I got instantly matched @5.8%. Funds split over two loans, both are from SM as the terms are shorter than the originals. Outstanding balances are £3,850 and £10,705.
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aju
Member of DD Central
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Post by aju on Jan 29, 2020 22:01:02 GMT
Enjoy it while it lasts.... Does it say how much the total loan is? Maybe it's a small part of a loan with an average lender rate far lower. I don't know how the system works from the borrower's end. Yes just over £10,300, so you are right my part of the loan is very small in comparison.
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Post by Ace on Jan 29, 2020 23:51:37 GMT
Darn it (or something stronger)! I've been trying to reduce my platform count and RS was one of the prime candidates.
Having read this thread and checked on my platform notes, which read "Passively exit. Don't consider reinvesting unless Access is offering 6%, it's too much hassle...", I've now deposited funds 😩.
Does anyone know of a P2P Anonymous group. I think I need to join one 😃.
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aju
Member of DD Central
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Post by aju on Jan 29, 2020 23:56:51 GMT
Darn it (or something stronger)! I've been trying to reduce my platform count and RS was one of the prime candidates. Having read this thread and checked on my platform notes, which read "Passively exit. Don't consider reinvesting unless Access is offering 6%, it's too much hassle...", I've now deposited funds 😩. Does anyone know of a P2P Anonymous group. I think I need to join one 😃. I feel you! I'm currently naturally drawing down (No fees) on our Zopa accounts. The improved rates especially on Access are tempting to put the money into RS rather than make it safer in Marcus or anything fscs protected.
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r00lish67
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Post by r00lish67 on Jan 30, 2020 9:29:48 GMT
Darn it (or something stronger)! I've been trying to reduce my platform count and RS was one of the prime candidates. Having read this thread and checked on my platform notes, which read "Passively exit. Don't consider reinvesting unless Access is offering 6%, it's too much hassle...", I've now deposited funds 😩. Does anyone know of a P2P Anonymous group. I think I need to join one 😃. I feel you! I'm currently naturally drawing down (No fees) on our Zopa accounts. The improved rates especially on Access are tempting to put the money into RS rather than make it safer in Marcus or anything fscs protected. I won't deny that I'm tempted too. If you need some fortitude to not become overexposed, just remember: 1) Their provision fund has fallen from £14.1m in March 2019 to £9.3m today. 2) Their own forecast suggests it will fall a further £3.5m 3) Their own forecast is predicated on an expected loss figure which was £34.6m in March 2019 and is £28.9m today (realistic?) 4) If you take the £3.5m reduction forecast from 2) and divide it by the average loan term (28 months), that suggests the PF should be falling by (on average) £125k/month. This month it fell £500k. Last month it fell by £1 million. 5) If the PF kept on falling by the same rate as it has been since March 2019 (ignoring their forecasts), it would run out in Summer 2021. RS would obviously take action prior to that in this scenario. 6) All of the time that the rates for us are high, their profits and ability to contribute to the PF are limited. Oh, but the ICR went up from 112% in March 2019 to 120% now, so yeah probably fine
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