markr
Member of DD Central
Posts: 766
Likes: 426
|
Post by markr on Feb 25, 2014 10:03:47 GMT
Thanks for the clarification Kevin. Looking at how the thread has gone it's easy to see how conspiracy theories gain momentum. Just to add to the conspiracy theory - as soon as the automatic box filling was removed, lending at 5.8% became possible again...
|
|
mikeb
Posts: 1,053
Likes: 463
|
Post by mikeb on Feb 25, 2014 19:23:42 GMT
Last I heard, Elvis was selling cheeseburgers on the moon Ridiculous. Everyone on the Internet knows that no American ever actually went to the moon The Elvis story is just a distraction ...
|
|
|
Post by davee39 on Feb 26, 2014 11:51:50 GMT
Oh dear. RS corrects an issue that has upset lenders, lenders at another place are putting money back in following a pick up in rates and lending speed, what are we going to moan about now?
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 26, 2014 11:54:35 GMT
Scottish *ankers' bonuses? Oh, no. Boooooooooooorrrrringggg!
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 26, 2014 12:08:49 GMT
Oh dear. RS corrects an issue that has upset lenders, lenders at another place are putting money back in following a pick up in rates and lending speed, what are we going to moan about now? No problem, we'll soon find something
|
|
spiral
Member of DD Central
Posts: 910
Likes: 456
|
Post by spiral on Feb 26, 2014 17:12:07 GMT
Currently 20K on offer at 5% when 5.8 is the real rate and a full 0.6 % to the next offer of £30 Attachments:
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 26, 2014 17:23:04 GMT
That looks like a case of someone making a mistake and RS should contact them rapidly to confirm the lender's intentions. Too late; someone lucky has borrowed it!
|
|
spiral
Member of DD Central
Posts: 910
Likes: 456
|
Post by spiral on Feb 26, 2014 17:33:58 GMT
It is an interesting point. A couple of months ago there was the borrower that borrowed at 99% but they cancelled that deal. A lender doesn't get that opportunity. I suppose RS have done as much as they can with the "please confirm your order" statement.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 26, 2014 17:35:37 GMT
I wonder what the parameters are for preventing (correction, dealing with) possible lender errors.
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 26, 2014 18:16:11 GMT
I wonder what the parameters are for preventing (correction, dealing with) possible lender errors. I don't feel this is a RS problem and therefore not their responsibility unless of course it is the RS 'market rate' that's triggering it. If an individual wishes to loan at 5% then that's entirely their business IMO. If they wish to set their lending rate at 99% then they should pay more attention as it will take more than divine intervention to achieve it. Once RS start dictating, advising, etc then that will be the thin edge of the wedge as we've seen elsewhere. Don't go there RS.
|
|
duck
Member of DD Central
Posts: 2,604
Likes: 5,838
|
Post by duck on Feb 26, 2014 18:21:15 GMT
I wonder what the parameters are for preventing (correction, dealing with) possible lender errors. ....... Once RS start dictating, advising, etc then that will be the thin edge of the wedge as we've seen elsewhere. Don't go there RS. Couldn't agree more!
|
|
spiral
Member of DD Central
Posts: 910
Likes: 456
|
Post by spiral on Feb 26, 2014 19:37:09 GMT
I wonder what the parameters are for preventing (correction, dealing with) possible lender errors. If they wish to set their lending rate at 99% then they should pay more attention It wasn't a lender but a borrower that put in 99% as their desired rate when there was no money on offer. It was quickly snapped up but cancelled a couple of days later so the point is a borrower can correct an error, a lender can't.
|
|
|
Post by westonkevRS on Feb 26, 2014 20:37:28 GMT
The borrower is protected by specific regulation, they can cancel the loan within the 14 day cooling off period and pay no fees. Only the negligible interest that was charged in the days before they cancelled. Lenders do get confirmation, there is only so much you can do. "Are you sure that you were just sure that you were just sure.......". IMHO as long as it is clear with confirmation, people have to be treated as responsible adults. It is money after all! Perhaps we should bring back the pre-filled offer to help...... Kevin.
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 26, 2014 22:11:38 GMT
Perhaps we should bring back the pre-filled offer to help...... Kevin. I think not
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 26, 2014 22:39:52 GMT
Perhaps we should bring back the pre-filled offer to help...... Kevin. Aaagh!... some Noddy would end up with 4.9%......4.8%..... I suppose he must have clicked on 5%, then confirmed the order manually, so that's his own lookout. I'll accept, with grateful thanks, the 5.8% I received.
|
|