Post by aju on Jul 27, 2020 17:23:07 GMT
So I'm not actively lending but trying to hang on to the existing 1Y and 5Y products when my sales eventually go through.
Whilst one can still set the maximum re-lending rates on both products to 10%. The maximum new lend rates seem to be restricted now to 8%. Since the method of lending using new rates seems to have been changed slightly - "set rate" seems to have been removed over the weekend.
Since the whole system is now probably using the same code it may just be a simple case of limiting all products to a max of 8% rather than RS noticing yet another work around to their processes to keep the old products.
I wonder though if it's just a case of RS reducing the max rates on all products to limit the chance of loans at 10% just starting and then having to be withdrawn hours later! Who knows I don;t remember seeing any announcements that stated they were dropping the lend rates below relend rates.
Whilst one can still set the maximum re-lending rates on both products to 10%. The maximum new lend rates seem to be restricted now to 8%. Since the method of lending using new rates seems to have been changed slightly - "set rate" seems to have been removed over the weekend.
Since the whole system is now probably using the same code it may just be a simple case of limiting all products to a max of 8% rather than RS noticing yet another work around to their processes to keep the old products.
I wonder though if it's just a case of RS reducing the max rates on all products to limit the chance of loans at 10% just starting and then having to be withdrawn hours later! Who knows I don;t remember seeing any announcements that stated they were dropping the lend rates below relend rates.
