adrianc
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Post by adrianc on Aug 7, 2015 8:04:04 GMT
So who's just plomped £12k in the three year at FOUR point nine...?
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c88dnf
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Post by c88dnf on Aug 7, 2015 9:26:31 GMT
So who's just plomped £12k in the three year at FOUR point nine...? It's possibly the malign effect of the change to the "Your Rate" (YR) system. Any investor who leaves YR set in their reinvestment field now gets exactly that, rather than having their investment set at the market rate if it's higher. So they can drag down the whole market, which in turn drags down the next day's "Market Rate". In my view, the YR change has greatly increased daily volatility in market rates and made the whole RS market less desirable to investors. One reason my funds are being withdrawn on a daily basis.
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pom
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Post by pom on Aug 7, 2015 10:32:01 GMT
So who's just plomped £12k in the three year at FOUR point nine...? It's possibly the malign effect of the change to the "Your Rate" (YR) system. Any investor who leaves YR set in their reinvestment field now gets exactly that, rather than having their investment set at the market rate if it's higher. So they can drag down the whole market, which in turn drags down the next day's "Market Rate". In my view, the YR change has greatly increased daily volatility in market rates and made the whole RS market less desirable to investors. One reason my funds are being withdrawn on a daily basis. I rather suspect the first repayments to the cashback investors will also be having an effect....
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gnasher
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Post by gnasher on Aug 7, 2015 16:06:57 GMT
So who's just plomped £12k in the three year at FOUR point nine...? It's possibly the malign effect of the change to the "Your Rate" (YR) system. Any investor who leaves YR set in their reinvestment field now gets exactly that, rather than having their investment set at the market rate if it's higher. So they can drag down the whole market, which in turn drags down the next day's "Market Rate". In my view, the YR change has greatly increased daily volatility in market rates and made the whole RS market less desirable to investors. One reason my funds are being withdrawn on a daily basis. No, I do not think this is a YR thing, as it happened well after the repayment run and after higher rates were achieved earlier in the day I think. So the only answer is complete ineptitude and/or lack of attention. Still the borrower will be happy and happy borrowers are important!
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Post by contangoandcash on Aug 10, 2015 8:15:03 GMT
Brutal stuff going on in the 3 year this morning, some poor folks with drips at every increment offering to loan all the way down to 4.1%. No requests to borrow.
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adrianc
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Post by adrianc on Aug 10, 2015 8:25:11 GMT
Brutal stuff going on in the 3 year this morning, some poor folks with drips at every increment offering to loan all the way down to 4.1%. No requests to borrow. All the borrowers are waiting in the monthly... £805k at 3.0% - there's only £85k on offer below 4.0%, and £407k in total - including all the way up to 90%! Truly weird.
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oldgrumpy
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Post by oldgrumpy on Aug 10, 2015 8:52:30 GMT
Brutal stuff going on in the 3 year this morning, some poor folks with drips at every increment offering to loan all the way down to 4.1%. No requests to borrow. They all appeared early as the payment process proceeded, so I guess these are all people who have not altered their "your rate" settings. What a difference between lending at 4.1%, and the more likely 5.4%+ later today! Attachments:
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duck
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Post by duck on Aug 10, 2015 9:06:05 GMT
My business uses the monthly market and 9K of repayments was snaffled earlier at 3.3% ...... with a maturity date of the 18th ...... so that would be a week and a few hours
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Post by contangoandcash on Aug 10, 2015 11:27:29 GMT
I transferred some over to the monthly this morning at 3.3% and it was all taken while I was out ! No point trying to some of these longer term rates right now..
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Post by wibble on Aug 10, 2015 11:30:44 GMT
Brutal stuff going on in the 3 year this morning, some poor folks with drips at every increment offering to loan all the way down to 4.1%. No requests to borrow. I needed a 3 year loan for a car last week. Zopa offered me 4.8% Ratesetter offered me a figure over 9% Guess which I went for.
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ashtondav
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Post by ashtondav on Aug 10, 2015 12:37:07 GMT
Hm, thats strange when the headline matched rate for lending in 3 year is 4.8%. RS taking a bit of a premium income, bumping that up to 9%. ZOPA on the other hand advertising 3.8% in 3 year market. Could it be because different platforms have different risk assessments? Otherwise i would have thought the two platforms would be within 1% or 2% of each other.
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teddy
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Post by teddy on Aug 10, 2015 13:43:22 GMT
Brutal stuff going on in the 3 year this morning, some poor folks with drips at every increment offering to loan all the way down to 4.1%. No requests to borrow. I needed a 3 year loan for a car last week. Zopa offered me 4.8% Ratesetter offered me a figure over 9% Guess which I went for. That's ridiculous. Are you high risk? Purely as an example, the Halifax will lend you £5k at 3.05% pa over 3 years. Interesting to see the borrower's side of RS . . .
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Post by supernumerary on Aug 10, 2015 14:07:30 GMT
I needed a 3 year loan for a car last week. Zopa offered me 4.8% Ratesetter offered me a figure over 9% Guess which I went for. That's ridiculous. Are you high risk? Purely as an example, the Halifax will lend you £5k at 3.05% pa over 3 years. Interesting to see the borrower's side of RS . . . Teddy, A few weeks ago we had a spread, where the lenders are being paid a rate of 6.0% on both the 3 year and 5 year markets and lenders borrowing at 7.4%APR. Today, we have a spread, where the lenders are being paid a rate of 5.3% on the 5 year market and lenders borrowing at 7.8%APR. Attachments:
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Post by wibble on Aug 10, 2015 16:03:14 GMT
I needed a 3 year loan for a car last week. Zopa offered me 4.8% Ratesetter offered me a figure over 9% Guess which I went for. That's ridiculous. Are you high risk? Purely as an example, the Halifax will lend you £5k at 3.05% pa over 3 years. Interesting to see the borrower's side of RS . . . >> Are you high risk? I'm really not. Salary well above the national average, lived in the same property for 15 years, never defaulted on *anything* - seriously, I'm as close to perfect as you could want from a borrower!!! The last time I did a credit check about 2 years ago, I scored at "999" (yup!) - my circumstances have not changed (same job, etc) Needed the loan quickly-ish, so only went to Zopa and Ratesetter for quotes, so am not sure what other banks / supermarkets would have offered. Also, I don't want to get too many quotes, even if they were only soft searches being performed on my credit history. Edit - Actually, it's worse - just logged into my account - the exact rate was 12.2%! LOL Edit Edit - I was the victim of credit card fraud in January and have a CIFAS mark - but Experian assure me this does not affect my Credit Score - merely means I have to be contacted in person before any additional credit is given / provide more ID than usual (indeed, I spoke to a chap at Zopa before the funds were released). If anything, that makes me a safer bet, as I have to give extra proof of ID!
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teddy
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Post by teddy on Aug 10, 2015 16:58:34 GMT
As Jimmy Greaves would say, it's a funny old game.
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