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Post by GSV3MIaC on Jul 28, 2017 16:39:21 GMT
It used to be the case that is you set a 'my rate' of, say, 5% your money would be lent out at the higher of 5%, or whatever the market rate (ho hum) was set to .. however RS 'fixed' that and now if you set a 'my rate', that is the best you can ever get. Which means continuous twiddling, (or at least checking) to make sure you don't short change yourself. One of many 'improvements' over the years which caused me to exercise the GOoGF card the first time they offered it.
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Post by sanmiguel on Jul 28, 2017 16:46:13 GMT
just had re-investment of funds at 5.2% seems the sellers are pushing up the rates for me, i'm selling one account but will re-invest at the higher rates. i'm happy at the moment with over 5%,
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Post by dan1 on Jul 28, 2017 16:52:16 GMT
It used to be the case that is you set a 'my rate' of, say, 5% your money would be lent out at the higher of 5%, or whatever the market rate (ho hum) was set to .. however RS 'fixed' that and now if you set a 'my rate', that is the best you can ever get. Which means continuous twiddling, (or at least checking) to make sure you don't short change yourself. One of many 'improvements' over the years which caused me to exercise the GOoGF card the first time they offered it. I have the feeling I'm going to regret asking this, but should GOoGF be GOoJF?
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Post by newlender on Jul 28, 2017 17:58:59 GMT
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Post by GSV3MIaC on Jul 28, 2017 19:48:13 GMT
It used to be the case that is you set a 'my rate' of, say, 5% your money would be lent out at the higher of 5%, or whatever the market rate (ho hum) was set to .. however RS 'fixed' that and now if you set a 'my rate', that is the best you can ever get. Which means continuous twiddling, (or at least checking) to make sure you don't short change yourself. One of many 'improvements' over the years which caused me to exercise the GOoGF card the first time they offered it. I have the feeling I'm going to regret asking this, but should GOoGF be GOoJF? That's an optional variant, but since someone objected to me using 'math' instead of 'maths' I thought I'd ring the changes this time. 8>.
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angrysaveruk
Member of DD Central
Back and to the left..
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Post by angrysaveruk on Jul 28, 2017 19:58:59 GMT
I prefer GOoGF, certainly applies to me more than GOoJF
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Post by misotu on Jul 29, 2017 9:52:57 GMT
I believe the saying originated with the Monopoly board game and so it really should be GOoJF, to be true to its roots
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pickles
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Post by pickles on Jul 30, 2017 10:02:31 GMT
I have a question about the Reinvestment feature in the 5 year market (but same principle would apply to all other markets). If there are borrowers ready to borrow at 5.0% and my re-investment rate is 4.5%, would my money be lent out at 4.5% or 5.0%? 4.5%! RS is a business making money on the difference between what we lend at, and what borrowers pay (plus fees). If rates go too low I withdraw and place it elsewhere. That's what I would have expected, but last week I forgot to reset my rolling reinvestment rate (or rather forgot I had some incoming interest). When I saw the email for a matched order I assumed it would have been at the rate I set when rates were low, but it was actually placed at the higher current rate.
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mary
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Post by mary on Jul 30, 2017 18:38:28 GMT
4.5%! RS is a business making money on the difference between what we lend at, and what borrowers pay (plus fees). If rates go too low I withdraw and place it elsewhere. That's what I would have expected, but last week I forgot to reset my rolling reinvestment rate (or rather forgot I had some incoming interest). When I saw the email for a matched order I assumed it would have been at the rate I set when rates were low, but it was actually placed at the higher current rate. I am happy to stand corrected. I have come back in to the 1 year and achieved 4.2% last week.
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oldgrumpy
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Post by oldgrumpy on Aug 2, 2017 8:13:57 GMT
RS must have been giving lenders "funny" sweets to suck this morning! Bizarre lender offers!! Nearly £45K on three orders at 3.2%!!! So RS are advising " The rate to lend right now is 3.2%" .... some advice! How long before "borrower offers" at 3.1% appear*? (and no this isn't the table from "rolling". It really is the 5 year) edit: * Yep. Like magic. Poor RS "borrowers" are only offering 3.1% at 09:25. Can't even give the poor guy (gal?) who made a mistake(?) his 3.2%!!!! RS just wants to manipulate the "lend right now" figure to 3.1% to rob naive newbie lenders even more. Attachments:
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robski
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Post by robski on Aug 2, 2017 8:52:04 GMT
RS must have been giving lenders "funny" sweets to suck this morning! Bizarre lender offers!! Nearly £45K on three orders at 3.2%!!! So RS are advising " The rate to lend right now is 3.2%" .... some advice! How long before "borrower offers" at 3.1% appear*? (and no this isn't the table from "rolling". It really is the 5 year) edit: * Yep. Like magic. Poor RS "borrowers" are only offering 3.1% at 09:25. Can't even give the poor guy (gal?) who made a mistake(?) his 3.2%!!!! RS just wants to manipulate the "lend right now" figure to 3.1% to rob naive newbie lenders even more. I'm not sure how its RS fault that someone sets their lending that low. I was on rather early this morning and it was either someone with finger trouble or probably more likely setup something wrong on reinvestment, maybe its supposed to be going to rolling at 3.2% (which is historically a pretty good rate for reinvestment) but they forgot to change the market so its going to 5 year at 3.2%... If I choose to lend at 0.1% and stuck a large amount on 5 year would that be RS manipulation? No If there are no loans to be matched it would go there and sit there. We had a time some time ago where someone put a load of cash on 5 year at 1% iirc, when WestonKev was still at RS, they rung that person who was relieved and thanked them iirc, or they just cancelled it themselves and contacted. Then it wasn't a conspiracy even though some claimed it was. Everything is not a conspiracy.
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oldgrumpy
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Post by oldgrumpy on Aug 2, 2017 9:04:03 GMT
It isn't RS's fault that someone sets their rate low. I agree that this lender may have intended it for the "rolling" market. However it is RS's fault that they exploit the situation to encourage new lenders to also offer their money at that rate minus 0.1%. RS set the market rate at 4.9%. A few lenders drifted lower to be front of the Q. The £45K at so far below the previous outliers should not be an excuse for RS to suggest on two pages that people should go even lower.
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TheDriver
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Slightly bonkers
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Post by TheDriver on Aug 2, 2017 9:23:40 GMT
I included this on a post to a Rolling thread, so apologies for repeating it here - where it should have been:
Earlier today the Last Matched figure was just 2%! There must have been a lot of undercutting going on?!?
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robski
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Post by robski on Aug 2, 2017 9:50:46 GMT
It isn't RS's fault that someone sets their rate low. I agree that this lender may have intended it for the "rolling" market. However it is RS's fault that they exploit the situation to encourage new lenders to also offer their money at that rate minus 0.1%. RS set the market rate at 4.9%. A few lenders drifted lower to be front of the Q. The £45K at so far below the previous outliers should not be an excuse for RS to suggest on two pages that people should go even lower. But this stuff is all automated, so I don't see any exploitation taking place personally So the algorithm is simply set listed amounts at [current lowest lender offer rate]-0.1% They clearly cannot always simply match current lender rate as it would just keep creeping up with nothing (bar an error) to drag it down
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robski
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Post by robski on Aug 2, 2017 9:53:23 GMT
I included this on a post to a Rolling thread, so apologies for repeating it here - where it should have been: Earlier today the Last Matched figure was just 2%! There must have been a lot of undercutting going on?!? Undercutting takes place during "normal" hours mainly, people look at the queue and decide whats most likely to get their money lent out I am sure. The super low rates seem to come from reinvestment settings, either a) people setting a low rate for some reason or b) when there is a lot of cash on the market the rates go lower, which in turn pulls the average down, and the more people that have lend at market rate ticked for reinvestment the lower it goes. You know they are reinvestment as they are often there at 5am and similar times after the overnight runs.
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