agent69
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Post by agent69 on May 20, 2015 18:57:45 GMT
Had a match this afternoon at 6.6% while my back was turned.
Only about £80k below 6.7% at the moment, so think I'll try for a cheeky little 6.7% for tomorrows repayments.
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oldgrumpy
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Post by oldgrumpy on May 20, 2015 19:13:23 GMT
Had a match this afternoon at 6.6% while my back was turned. Only about £80k below 6.7% at the moment, so think I'll try for a cheeky little 6.7% for tomorrows repayments. I found out that Mr Phivenijn just withdrew £100K from his current account today - watch RS at 01:00 tonight
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gnasher
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Post by gnasher on May 24, 2015 10:05:06 GMT
why oh why oh why ... 6.8% £72.2k 66 £115.2k 6.7% £3.4k 6 £43.0k 6.5% £1.0k 1 £39.6k 6.4% £38,606.62 2 £38,606.62 would anyone put money on at less than 6.7 in this market? Even 6.8 look pretty certain within a day or two. Who is it who has so much money and so little brain? Not wishing to be offensive but ......... what the heck is going on?
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agent69
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Post by agent69 on May 24, 2015 14:41:55 GMT
what the heck is going on? Think you're about 6 months late asking that question!
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oldgrumpy
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Post by oldgrumpy on May 24, 2015 14:50:02 GMT
what the heck is going on? Think you're about 6 months late asking that question! Maybe Mr 6.0% is on holiday this weekend. He'll be back.
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gnasher
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Post by gnasher on May 24, 2015 19:35:48 GMT
And now we have one order at 6.2% for £23,357. So now I am 6 months and 8 hours late - sorry, still catching up.
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oldgrumpy
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Post by oldgrumpy on May 24, 2015 19:57:59 GMT
And now we have one order at 6.2% for £23,357. So now I am 6 months and 8 hours late - sorry, still catching up. It's leapfrog gnasher ! I notice that loadsamoney has suddenly gone from the 6.4% pot this afternoon while two individuals have popped up (or down) with five figure sums in 6.3% and 6.2% (with a similar total amount). Now could that all be the same money shifted down because they know what will happen when the big repayment run arrives on Tuesday? Some noggin (possibly one of those two) will appear on Monday evening before the new market rate is fixed, and we'll end up with £400K allocated at 6.0% or below, followed by more following suit. Wait till Thursday for the best rate - (6.8%?) unless Kev's advertising kicks in. Good luck to them all.
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Post by westonkevRS on May 25, 2015 8:05:01 GMT
And now we have one order at 6.2% for £23,357. So now I am 6 months and 8 hours late - sorry, still catching up. Wait till Thursday for the best rate - (6.8%?) unless Kev's advertising kicks in. It's not my Marketing. I have no idea of that black art....
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agent69
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Post by agent69 on May 26, 2015 16:58:35 GMT
£366k of borrowers requests at 5.9% waiting for a home.
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Post by p2plender on May 26, 2015 17:40:40 GMT
something/one is going to have to give
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oldgrumpy
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Post by oldgrumpy on May 26, 2015 17:47:37 GMT
I would like to know exactly how RS so often (and often so suddenly) find such large groups of prospective borrowers, often at 0.1 or 0.2% below the lowest outlier lender offers. Are none of them offering 6.0%, 6.1%, 6.3% etc? Will the current £392K borrowers offering 5.9% just sit there while no lender offers appear? Lending does seem to continue at 5.9%, so is cash trickling in at that rate?
Wish I understood.
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spiral
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Post by spiral on May 26, 2015 17:52:00 GMT
£366k of borrowers requests at 5.9% waiting for a home. How long can it sit there for if a lender matches to it? I wondered this a couple of months ago because on one occasion, I actually placed an order to match a waiting loan. The money immediately goes to "loan being formed" and stayed there presumably until all the money was matched which took an hour or so in my case but if the remainder isn't matched in a timely fashion does my money stay at "loan being formed" or is there a point at which the borrower either has to accept the going rate or cancel the loan?
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teddy
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Post by teddy on May 26, 2015 18:43:10 GMT
£366k of borrowers requests at 5.9% waiting for a home. It's now £393K at 5.9%. No one will lend at that over 5 years. It'll be at 6.2% by this time tomorrow. Looks like Ratesetter are trying to manipulate the rates. Huge wedge of what's clearly commercial money being thrown at the market at such a low rate smells rather nasty to my bear nose. There's £25k waiting at 5.5% to be borrowed on the 3 year market. I know where I'd rather go.
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oldgrumpy
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Post by oldgrumpy on May 26, 2015 18:59:13 GMT
"It'll be at 6.2% by this time tomorrow."
My guess is either 6.4%/6.5%, and maybe 6.7% Thursday. What confuses me is that one day RS "finds" a huge wedge (not just a few chancers) of borrowers wanting a sub 6% loan when rates are nearer 6.2%+, but at other times, allows rates to drift up to 6.6%+ and there are no borrowers - but a sudden tranche of cash lands at 6.0%, and low and behold, up pop the fiveniners in their masses. That irregularity doesn't seem like institutional money; I imagine institutions require a more regular and predictable involvement. Isn't ther always a list of waiting borrowers, at various rates? I thought RS told borrowers the rate, not them telling RS what they wanted to pay and RS dangling the anorexic carrots in front of us.
Anyway, the 6.1% matches are in full flow now. Keep'm moving, Kev
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Post by pepperpot on May 26, 2015 19:51:16 GMT
I thought RS told borrowers the rate, not them telling RS what they wanted to pay
I thought both sides set the rate, each trying to get a good deal dependent on what is presented at the time. With the benefit of seeing the market fluctuations, lenders are in a better position to judge what that deal might be. Borrowers just see a snapshot at the time of their application and human nature being what it is, want just below what is offered and join all the other borrowers siting at 5.9. I reckon if they don't get a bite, patience will wear thin and they will either go elsewhere or take what lenders are offering, hence 6.2 being nibbled at. Anyway, I thought you'd gone floating this week...
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