TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 27, 2017 11:21:24 GMT
I signed on at about 9pm, saw matches go up to 8.3/4%, was offered a current rate of 8.2 but by the time I'd accepted it was below 8 and down to 7.2% within the hour; no more allocations resulted in 5+% by this morning.
Wonder how long before the 7+s repay?
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ashe
Posts: 53
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Post by ashe on Aug 27, 2017 11:33:53 GMT
I signed on at about 9pm, saw matches go up to 8.3/4%, was offered a current rate of 8.2 but by the time I'd accepted it was below 8 and down to 7.2% within the hour; no more allocations resulted in 5+% by this morning. Wonder how long before the 7+s repay? Well, if this is due to people selling out, the numbers may not necessarily match with loans. Some people may have rates lower than the loans originated at, some people may have higher. A bit disappointed I didn't get a rate match email for the tiny amount I had matched.
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Post by WestonKevTMP on Aug 27, 2017 13:26:41 GMT
Wonder how long before the 7+s repay? There's no reason a 7%+ AER obtained via a sell-out should repay earlier. Its assigned to an existing loan, whereby the difference the original lender has to the new lender is paid for by RateSetter. These are RateSetter subsidised returns, the best lending a lender can do! Basically RateSetter lose money in these free sell-outs where the new rate is high, but make money where the new lender rate is lower than the existing one in the sell-out. For this reason, IMHO, RateSetter would be mad to continue sell-outs over the weekend until the rates have returned to normal levels (or equal or below the average loan subject to sell-out). The only reason to do it now and lose money is due to the 30-day sell-out promise. Kevin.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 27, 2017 15:21:39 GMT
But surely RS could just re-reassign the loans to other lenders at lower rates, in the same way they initially reassigned the sell-outs? Although I get that the philosophy of doing so may be questionable.
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Post by WestonKevTMP on Aug 27, 2017 16:18:15 GMT
But surely RS could just re-reassign the loans to other lenders at lower rates, in the same way they initially reassigned the sell-outs? Although I get that the philosophy of doing so may be questionable. This doesn't make any sense to me. If the lender rate on an existing loan subject to sell-out is 5%, they have to replace the sell-outs cash from the live market. They have to take the lowest rate, and if that's say 6% then RateSetter will have to pay the 1% difference of the the "cost of funds". RateSetter can't force any new lender money to come in at a lower rate than has been offered in the market. They can't re-assign to lower rates if it doesn't exist on the market. Although in theory they could use rolling cash, which is cheaper. Kevin.
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mikeb
Posts: 1,053
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Post by mikeb on Aug 27, 2017 20:52:53 GMT
I signed on at about 9pm, saw matches go up to 8.3/4%, was offered a current rate of 8.2 but by the time I'd accepted it was below 8 and down to 7.2% within the hour; no more allocations resulted in 5+% by this morning. Wonder how long before the 7+s repay? Well, if this is due to people selling out, the numbers may not necessarily match with loans. Some people may have rates lower than the loans originated at, some people may have higher. A bit disappointed I didn't get a rate match email for the tiny amount I had matched. Something does seem to be amiss with RS email notifications -- I matched some loans and got no notifications at all -- but then I've also missed a whole slew of "A chunk of money has been repaid early" ones from the 5 year reshuffling that went on. Unless RS have stopped doing these notifications?
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sl75
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Post by sl75 on Aug 28, 2017 17:26:02 GMT
Well, if this is due to people selling out, the numbers may not necessarily match with loans. Some people may have rates lower than the loans originated at, some people may have higher. A bit disappointed I didn't get a rate match email for the tiny amount I had matched. Something does seem to be amiss with RS email notifications -- I matched some loans and got no notifications at all -- but then I've also missed a whole slew of "A chunk of money has been repaid early" ones from the 5 year reshuffling that went on. Unless RS have stopped doing these notifications? I got no notifications but by pure luck happened to log in as the rates were rising, saw it had just taken my money (at the rate I normally have selected for re-lending until enough has accumulated to be worth bothering to initiate a withdrawal) and rates were still rising, so pulled out a debit card to pop some on the market around 0.5% higher. Just a shame I'd not got much in cash reserves at the time, and also didn't hold out for an even higher rate!
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radar
Member of DD Central
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Post by radar on Aug 30, 2017 19:58:04 GMT
Currently 6.1%
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Post by carol167 on Aug 30, 2017 21:02:04 GMT
I managed to match at 8% earlier today - but I don't know how high it went. Was 7.9 at 6.30 when I logged in to check and found my 'on the market' had gone.
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Post by danegeld on Aug 30, 2017 21:17:42 GMT
I got a match at 7.9% sometime today, but like other posters have not had any email notification.
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IFISAcava
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Post by IFISAcava on Aug 30, 2017 21:18:23 GMT
I managed to match at 8% earlier today - but I don't know how high it went. Was 7.9 at 6.30 when I logged in to check and found my 'on the market' had gone. And I took my 7% off the market as I hadn't matched since the last peak. Oh well. Better more reliable places to get those rates.
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david42
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Post by david42 on Aug 31, 2017 8:09:33 GMT
I managed to match at 8% earlier today - but I don't know how high it went. 8% was the maximum matched on 30 Aug. My 8.0% marker was matched and my 8.1% marker was not matched.
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ashtondav
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Post by ashtondav on Sept 7, 2017 15:21:57 GMT
WOW! No lenders below 6%.
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oldgrumpy
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Post by oldgrumpy on Sept 7, 2017 15:38:52 GMT
I wonder if this weekend will replicate the last two with a lot of matching with existing lender offers. 8.0%, 7.6% (I just missed out last week; wasn't around for the 8%), could be 8% again on Saturday.
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robski
Member of DD Central
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Post by robski on Sept 7, 2017 17:55:02 GMT
I haven't seen any sign of sellout contracts this week, that's what really pushed the rates up imo
Saying that, I will take 6% all day long so I am taking a load now anyway
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