oik
Member of DD Central
Posts: 254 
Likes: 349
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Post by oik on Oct 30, 2015 20:35:22 GMT
I noticed a few hours ago that the lowest lending offers for monthly money were at 3.6% and then just from 3 lenders offering a total of £4.3k. The highest borrower offers are at 3.4%.
Now I see the lowest lending rates on offer have crashed to 2.7% and 2.6% offered to borrow. At 2.8% there's just a single lender offering £43k and another offering £43.9k at 2.9%. (Could they be the same individual?) Makes those lenders who transferred money in earlier hoping for around the rates on offer then look a bit lonely.
I wondered if anyone had a view on the likely profile of the big lender? Doesn't look like the action of a typical retail investor so who/what are the those retail lenders competing against?
Earlier
4.0% £322.8k 139 £925.8k
3.9% £409.2k 96 £603.0k
3.8% £144.8k 44 £193.7k
3.7% £44.6k 18 £49.0k
3.6% £4,332.54 3 £4,332.54
Borrower Offers
Rate On Offer Orders Cumulative
3.4% £7,987.41 5 £7,987.41
Now
3.2% £49.7k 2 £137.1k
3.1% £287 1 £87.4k
3.0% £100 1 £87.1k
2.9% £43.9k 1 £87.0k
2.8% £43.0k 1 £43.1k
2.7% £120.36 1 £120.36
Borrower Offers
Rate On Offer Orders Cumulative
2.6% £7,924.84 16 £7,924.84
2.5% £13.8k 6 £21.7k
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Post by westonkevRS on Oct 31, 2015 8:09:42 GMT
You might not like the way others play the markets, but the orders are real money and transparent. Remember institutions lend around 3% of the platforms monthly lending, ignoring reinvestments this would be 5-6% of new money. There is an equivalent amount from SMEs, charities and other organizations. There are also a number of "high rollers" with large 6 figure lending balances, even the odd "RateSetter millionaire". Organizations tend to follow rules, for example always place money at yesterday's market rate. Individuals aren't always given the mandate to play the markets, so you do get sub-optimal decisions but they don't always want autonomy. But that's their audit trail and process, their money, they can decide. westonkevRS |
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oik
Member of DD Central
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Post by oik on Oct 31, 2015 11:09:44 GMT
I don't object at all to how others 'play the markets', after all I'm not obliged to invest and certainly not to match their lending offers. As you say, it's their money. I am interested though in who the platform might be used by, and how and why, as that might inform my view of whether I should consider it of use to me beyond the short term.
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dermot
Member of DD Central
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Post by dermot on Oct 31, 2015 17:36:17 GMT
And it is down to 1.1% as of a few minutes ago ...
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Post by westonkevRS on Oct 31, 2015 20:43:48 GMT
And it is down to 1.1% as of a few minutes ago ... Here's why. A last minute rush to get that member get member £50. Although as their money has to be matched and lent by 5:30pm, they'll be some disappointed lenders. 
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Post by bobthebuilder on Nov 1, 2015 5:50:31 GMT
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Post by brokenbiscuits on Nov 1, 2015 13:30:47 GMT
Ah, forgot about this £50 incentive. I've not matched any money for over a week now. Perhaps this is all relevant.
I'm certainly not a high roller, but do have over £500 earning nothing waiting to match at 6.5 through to 6.7.
Will leave it for another week and then top up my vanguard with it if still no bites.
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adrianc
Member of DD Central
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Post by adrianc on Nov 1, 2015 13:52:08 GMT
Ah, forgot about this £50 incentive. I've not matched any money for over a week now. Perhaps this is all relevant. I'm certainly not a high roller, but do have over £500 earning nothing waiting to match at 6.5 through to 6.7. Will leave it for another week and then top up my vanguard with it if still no bites. 6.6 and 6.7 might be a bit optimistic, but the front of the 6.5 queue is <£60k away from matching. Your "over-a-week" money must be very near the front of that queue, because I've got some from Monday waiting, only £15k away from the front... My last 6.5 match was Weds, my last 6.7 was 21st.
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Nov 1, 2015 14:34:44 GMT
Front of the Q at 6.5% is me (almost) with an order from last Thursday. 6.4% orders were matched on Saturday, but not much has happened above 6.1% over the weekend.
About three weeks ago not much was happening in a similar way, and all of a sudden about £200K was borrowed (don't know by how many people) and the "lender offer" base shot from 6.1% to 6.6% in not very long, late evening I think, but on a Friday, not a Sunday.
ed. a few seconds later today, ooo! look! They've suddenly found the wherewithal to lend out at 5.9%.
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Post by brokenbiscuits on Nov 1, 2015 15:04:32 GMT
Pay day was 23rd. 6.6 and 6.7 sat there since and repayments unmatched at 6.5 since early morning 23rd and onwards.
Maybe the £50 incentives have had an impact?
We shall see. To be honest the 6.7 was more of a punt but thought 6.5 and 6.6 might get a nibble by now.
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Post by westonkevRS on Nov 1, 2015 15:27:36 GMT
2 years ago and anything towards 6% and over was a rare dream. People's expectations and thoughts of a "new normal" change quite quickly. But agreed, its hard to know what the true rate is at the moment with the member get member distortion. But you can't blame RateSetter Marketing, we've got to look for new members to grow and this is an easy approach even if it isn't very original or imaginative. I suspect well find out near the end of November what the real rates are.... @ westonkevRS |
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oldgrumpy
Member of DD Central
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Likes: 3,233
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Post by oldgrumpy on Nov 1, 2015 15:33:40 GMT
Hi Kev!! You managed to escape the vagaries and hazards of Rate'owe'en then? I bet RS ended the refer a mate offer on 31 October deliberately to spook the market!  |
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Post by brokenbiscuits on Nov 1, 2015 16:50:41 GMT
2 years ago and anything towards 6% and over was a rare dream. People's expectations and thoughts of a "new normal" change quite quickly. But agreed, its hard to know what the true rate is at the moment with the member get member distortion. But you can't blame RateSetter Marketing, we've got to look for new members to grow and this is an easy approach even if it isn't very original or imaginative. I suspect well find out near the end of November what the real rates are.... @ westonkevRSI joined here about 9 months ago. Looking at historical matches it seems I joined during the times of milk and honey. It's hard to take 5.9 when my average rate of return is 6.5. For me "normal" is about 6.3 - 6.6. But being one of the more nerdy/dedicated types on here, I usually go in heavy when rates are higher... Pushing average rate of return up. If rates stay where I want them I'm definitely adding to the pile.
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Post by p2plender on Nov 1, 2015 17:50:43 GMT
2 years ago and anything towards 6% and over was a rare dream. People's expectations and thoughts of a "new normal" change quite quickly. But agreed, its hard to know what the true rate is at the moment with the member get member distortion. But you can't blame RateSetter Marketing, we've got to look for new members to grow and this is an easy approach even if it isn't very original or imaginative. I suspect well find out near the end of November what the real rates are.... @ westonkevRSand I've 5yr loans at 4.8% to prove the above :-((
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jlend
Member of DD Central
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Post by jlend on Nov 1, 2015 18:30:03 GMT
Ah yes i remember those low rates.... i just looked at my current 5 yr loan book. Ranges from 4.7.% up to 7.8% on live loans. ☺
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