gnasher
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Post by gnasher on Apr 13, 2014 14:45:26 GMT
Watching it today as I have some money on at 5.8, it was sitting in the queue at about 70k a couple of hours ago.
Just looked and all the 5.8 money, including mine, seems to have been moved to 5.7, with just £33 left at 5.8. Plus last match is showing at 6.4% - I do not think so!
Looks like a major snafu to me, I want to go back to 5.8!
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oldgrumpy
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Post by oldgrumpy on Apr 13, 2014 14:59:43 GMT
Urgent Action needed Ratesetter!! my two orders for 5.8& have also been changed to 5.7% with no authority from me.  Put it back to 5.8% before lending it out please!!  This has happened in the last hour or so. edit: My queue position in the now 5.7% is the same as it was in the 5.8% less than an hour ago. edit. I have emailed RS but there's no one in the office on Sundays. westonkevRS sometimes lurks here.
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Post by p2plender on Apr 13, 2014 15:15:37 GMT
6.4% !
We wish.
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Post by jamess on Apr 13, 2014 15:22:33 GMT
I noticed that as well so I have reset mine back to 5.8% to get near the start of the 5.8% queue with the four day break for Easter coming up.
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oldgrumpy
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Post by oldgrumpy on Apr 13, 2014 15:30:23 GMT
I noticed that as well so I have reset mine back to 5.8% to get near the start of the 5.8% queue with the four day break for Easter coming up. Hah!! I've told them to reset the queue as it was before the error! 
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gnasher
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Post by gnasher on Apr 13, 2014 15:44:53 GMT
I do not think there is any option for them but to stop all lending immediately, reset the queue as was before the cock-up, then reapply any new money. I do not want to cancel my 2 bids otherwise I will loose my place in the queue, plus RS cannot lend my money at 5.7 because that is not what I specified and the loan will be invalid. I and others will no doubt object if that is what happens.
The last time I looked before the cock up everything was at 5.8, there was no 5.7 money.
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oldgrumpy
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Post by oldgrumpy on Apr 13, 2014 15:49:59 GMT
I can see odd amounts being transferred from 5.7% back to 5.8%. I'm leaving mine as it stands, then requiring RS to sort it out. They might lend it all out at 5.7% and compensate by an appropriate cashback if it all gets too complex. Oh what fun!  17:15 PM I see £25.9K has been lent out at 5.7% instead of 5.8%; another £10K and some of mine will go! |
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agent69
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Post by agent69 on Apr 13, 2014 16:30:43 GMT
Add +1 to the p*ssed off at 5.8% club.
Currently £20k in the queue before my first bid gets to the top. Wonder if anyone actually got 6.4%?
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gnasher
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Post by gnasher on Apr 13, 2014 17:07:06 GMT
Well I don't know what to do. The system is on auto pilot (as you would expect on a Sunday) and my money is getting nearer the front of the 5.7 queue, when I put it on at 5.8. Thanks to all the other posters, otherwise I would be doubting my sanity. Hard to imagine what kind of event would cause 100k+ to shift queues, and set last lent to 6.4%, just bizarre, but then I do not understand the RS software, but it normally seems pretty bombproof. I assume it is not the work of a hacker otherwise my money would just not be there anymore. As the market is now looking a bit more "normal" here is a screen shot I took when I first noticed the anomaly, i.e. last lent 6.4%, just £33 at 5.8 and £137k at 5.7, all, or virtually all of which was placed at 5.8% because an hour or so previously the 5.8 queue was £137ish and the 5.7 queue was zero.  |
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Post by mrclondon on Apr 13, 2014 17:19:53 GMT
As the market is now looking a bit more "normal" here is a screen shot I took when I first noticed the anomaly, i.e. last lent 6.4%, The last lent figure for the 1 year bond in that screen shot at 4% is also erroneous - I have money (still) sat in the 3.9% queue.
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gnasher
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Post by gnasher on Apr 13, 2014 17:28:45 GMT
..... and now I look at it the 5.1 on the 3 year market looks a trifle, er, fanciful. Now at 4.6!
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oldgrumpy
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Post by oldgrumpy on Apr 13, 2014 17:53:18 GMT
Now I have gone backwards from £10.1K to £12K in the false 5.7% queue despite nothing showing at 5.6% or lower!! Bizarre,  |
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Post by ianf2014 on Apr 13, 2014 17:59:51 GMT
Same problem for me as well. The money I had waiting at 5.8 has moved down to 5.7 - though my money at 5.9 has not been changed.
I have moved mine back up to 5.8.
I find it a little worrying that our money can move to lower offers without our permission!
Thought I would check this forum to make sure I wasn't going senile and had changed it myself - but it seems like it has happened to everyone who had money at 5.8.
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Post by rudry2677 on Apr 13, 2014 18:17:34 GMT
There's little to worry about, this time. It's probably a precursor to what may happen when the system has been fully taken over by some shifty git in need of a few million of our 'investments'.
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mikes1531
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Post by mikes1531 on Apr 13, 2014 19:12:08 GMT
There's little to worry about, this time. It might not be a major financial disaster, but RS will find themselves with a lot of upset lenders if money they offered at 5.8% is lent at 5.7%. RS could pay the difference as compensation and that would alleviate the financial cost, but unless they can figure out exactly how it happened and fix it so that it won't happen again -- or even if they can -- they will suffer a drop in confidence and that is bad news for them.
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Put it back to 5.8% before lending it out please!! 
