nush
Member of DD Central
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Aug 7, 2016 14:51:38 GMT
Post by nush on Aug 7, 2016 14:51:38 GMT
just joined ratesetter, added £1000 to 1 year market, does ratesetter invest for me or do i need to do something else, i am using ratesetter to get the bonus so am i now classed as invested. TIA
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oldgrumpy
Member of DD Central
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Aug 7, 2016 15:07:15 GMT
nush likes this
Post by oldgrumpy on Aug 7, 2016 15:07:15 GMT
If your £1K shown as "on the market" on one year page, RS will lend out when a loan becomes available at the rate you are offering. Don't accept the lend right now rate as a principle or you will be given the lowest possible rate, especially first thing Monday when rates often drop for a few hours. Looking now, you will get 3.3% probably tomorrow if you set that rate. Setting at 3.6% to 3.8% (You're allowed to split your money between multiple rates) and waiting a few days may be worth while, but cannot be guaranteed. It is easy to alter your rate down a notch if you get stranded too far back in the Q. Attachments:
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am
Posts: 1,495
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Aug 29, 2016 18:55:26 GMT
nush likes this
Post by am on Aug 29, 2016 18:55:26 GMT
If your £1K shown as "on the market" on one year page, RS will lend out when a loan becomes available at the rate you are offering. Don't accept the lend right now rate as a principle or you will be given the lowest possible rate, especially first thing Monday when rates often drop for a few hours. Looking now, you will get 3.3% probably tomorrow if you set that rate. Setting at 3.6% to 3.8% (You're allowed to split your money between multiple rates) and waiting a few days may be worth while, but cannot be guaranteed. It is easy to alter your rate down a notch if you get stranded too far back in the Q. I've got marker tenners on the market at 3.4% to 3.6%. They're not being taken up. (The last reinvestment at 3.3% is still waiting to be matched after 4 days.) Hopefully borrower demand will pick up after the bank holiday, and the 3.3% will be matched, but I'm not sanguine about higher rates being matched in the near future (and for the rolling market the cost of being out of the market requires a significant increase in rate to compensate).
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