spiral
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Post by spiral on Jan 13, 2014 16:21:11 GMT
Maybe RS could just provide Elljay with the relevant MI feeds that were promised in 2012 and we could all see what's going on!
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Post by elljay on Jan 13, 2014 18:20:22 GMT
Maybe RS could just provide Elljay with the relevant MI feeds that were promised in 2012 and we could all see what's going on! Sorry, Rhydian did come back to me, but by then I'd reduced my investment in RS so I'd lost interest. If there's enough interest I could pick it up again..?
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Post by westonkevRS on Jan 13, 2014 18:54:52 GMT
Maybe RS could just provide Elljay with the relevant MI feeds that were promised in 2012 and we could all see what's going on! If there is specific data you'd like added the the web page (either customer side, or on the main pages) then let me know and I''ll propose it. As long as it is helpfull and helps give you confidence in RateSetter and our ability to deliver on our promises. If you want a dirext data feed that includes detailed balance, income and provision fund data - that's probably not going to happen. For me, the point of lending with RateSetter is that we give you a great rate and you trust us to perform. We try and publish as much data publicly to help inform and make that trust decision. But ultimately you trust us to manage risk, your money and the rate; or you don't. I'm my personal opinion. I'm just not into customer API links... Bit that might be the traditional banker in me coming out.... Kevin.
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Post by phlitb on Jan 13, 2014 19:00:00 GMT
I don't login to Zopa very often anymore since it's become an almost purely passive investment, so I've only just discovered that their 5% "Rate Promise" actually translates into a 5.5% rate for me since I was an early adopter on a low fee structure. So can RS fuel my savings at 6% or more to tempt me to start migrating my money over?
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mikeb
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Post by mikeb on Jan 13, 2014 19:14:29 GMT
I don't login to Zopa very often anymore since it's become an almost purely passive investment, so I've only just discovered that their 5% "Rate Promise" actually translates into a 5.5% rate for me since I was an early adopter on a low fee structure. So can RS fuel my savings at 6% or more to tempt me to start migrating my money over? 5.7% right now ... will that do you?
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Post by phlitb on Jan 13, 2014 19:44:11 GMT
I don't login to Zopa very often anymore since it's become an almost purely passive investment, so I've only just discovered that their 5% "Rate Promise" actually translates into a 5.5% rate for me since I was an early adopter on a low fee structure. So can RS fuel my savings at 6% or more to tempt me to start migrating my money over? 5.7% right now ... will that do you? In the interests of diversification it's certainly worth consideration, but with Wellesley & Co. (do we need a suitable Glossary abbreviation for them too? - the obvious choice might not sit too well with them ) offering even higher 5Y allegedly provision fund protected rates I think I'll hold out for 6% until I dip my toe into RS.
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bugs4me
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Post by bugs4me on Jan 13, 2014 22:29:33 GMT
5.7% right now ... will that do you? In the interests of diversification it's certainly worth consideration, but with Wellesley & Co. (do we need a suitable Glossary abbreviation for them too? - the obvious choice might not sit too well with them ) offering even higher 5Y allegedly provision fund protected rates I think I'll hold out for 6% until I dip my toe into RS. That 6% may not happen for a while as there is plenty of money sloshing around looking for a home. Then if/when it hits 6% you may just find a bunch of lenders willing to go at 5.9%.
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Post by westonkevRS on Jan 13, 2014 23:28:31 GMT
There are yields and respective risks for everyone! Savings depoiits with FSCS with <1% for many, 5.7% with RateSetter for savvy lenders that want the safest P2P Lender on the market (in my opinion, 180% coverage, largest £2.6m provision, 3 years experience management of a safety fund, healthy balance sheet), or > 6% with new untested entrants. Room for all levels of risk, and good luck! Myself I actually prefer equities with P2P lending for safe diversification. As Tuesday's stock market performance is forecast to show.
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Post by westonkevRS on Jan 14, 2014 7:56:29 GMT
Alas, as a lender but not as a RateSetter employee, it doesn't look like we''ll get a 6.0% peak anytime soon. Perhaps 5.9% but there's £300k plus waiting below and lenders usually drop more money in when the markets rise..
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markr
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Post by markr on Jan 14, 2014 12:26:18 GMT
and lenders usually drop more money in when the markets rise.. Guilty, I hope it gets to my account before the current spike falls off again (if not I may put it in the 3 year market). I moved my "hopeful" 5.9% offers down to 5.7% to get them away and I have some small "possible" offers at 5.8% that have been there since October(!) so it looks like 5.7% is where the market is for now.
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mikes1531
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Post by mikes1531 on Jan 15, 2014 3:07:00 GMT
Alas, as a lender but not as a RateSetter employee, it doesn't look like we''ll get a 6.0% peak anytime soon. Perhaps 5.9% but there's £300k plus waiting below and lenders usually drop more money in when the markets rise.. In that case, I'll repeat my suggestion that the RS banner ads that keep popping up on my screen should not start with 'Earn up to 6.0%'.
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Post by wibble on Jan 15, 2014 9:02:48 GMT
Alas, as a lender but not as a RateSetter employee, it doesn't look like we''ll get a 6.0% peak anytime soon. Perhaps 5.9% but there's £300k plus waiting below and lenders usually drop more money in when the markets rise.. In that case, I'll repeat my suggestion that the RS banner ads that keep popping up on my screen should not start with 'Earn up to 6.0%'. Today looks like many loans will go out at 5.8%, and the queue for 6.0% is only £344k... The ad personally doesn't offend me (although I don't recall ever seing it) - we see "up to" xx% everywhere in advertising, but each to their own I guess. Although I concede that Zopa's "Price Promise" (or, in my eyes, "We won't give you more than 5%") is more informative.
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Post by westonkevRS on Jan 15, 2014 11:25:20 GMT
I did feedback on the "up to 6%", and it was agreed by myself, Rhydian and the Marketing boys that we would change this. We'd rather "under promise and over deliver" that disappoint. For example I personally hate the representative APR rules as they stand as this means 49%+ customers get a worse deal than expected; and the big players try to circumnavigate this with '*' caveats.
The "up to 6%" hasn't been changed as we are just stopping these banner adds, they'll be finished shortly. This was easier than changing the graphics just for a short time period....
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mikes1531
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Post by mikes1531 on Jan 15, 2014 13:45:35 GMT
In that case, I'll repeat my suggestion that the RS banner ads that keep popping up on my screen should not start with 'Earn up to 6.0%'. The ad personally doesn't offend me (although I don't recall ever seing it) - we see "up to" xx% everywhere in advertising, but each to their own I guess. I don't mind "up to" adverts -- as long as the 'up to' actually is achievable. It's bad enough when you follow an "up to XX% off" advert to find that only one item out of zillions is discounted by that amount, but if you follow such an advert and then can't find any items discounted by that amount, then I think the adverts are misleading -- at best. westonkev: Thanks for the update.
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Post by westonkevRS on Jan 31, 2014 13:24:46 GMT
Perhaps those "up to 6%" banners should have remained after all....
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