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Post by stevepn on Dec 31, 2016 13:17:19 GMT
5 year money is 3.7% now , its like a limbo dance. I think that they should be ashamed of themselves. I bet lots of their investors have no idea that they are getting so little for tying it up for so long. I always use to put mine on automatic reinvestment and then I discovered some had gone at 2.1% and 2.6% fortunately they were for less than £250. Now I put everything into the holding account and when it gets to about £100 I take it out and put it in the bank. Slowly the money is getting less and there are always people paying back fully so come 2021 I will have very little left in RS if anything.
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alender
Member of DD Central
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Post by alender on Dec 31, 2016 13:17:28 GMT
5 year money is 3.7% now , its like a limbo dance. I think that they should be ashamed of themselves. I bet lots of their investors have no idea that they are getting so little for tying it up for so long. That's not exactly RS's fault, if the investors CBA to see what they're getting. RS are certainly not blameless in this, it is a mixture of low rates in general exacerbated by RS’s many methods to reduce rates (discussed many times on this site) especially the one of setting of the borrower offers just below the lowest lender offer. As I have said before when the dumb money moves in the smart money leaves.
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Post by stevepn on Dec 31, 2016 13:30:34 GMT
5 year money is 3.7% now , its like a limbo dance. I think that they should be ashamed of themselves. I bet lots of their investors have no idea that they are getting so little for tying it up for so long. That's not exactly RS's fault, if the investors CBA to see what they're getting. I think what happens is a lot of money has accumulated over the weekend and Ratesetter "friendly" borrowers put down a low rate to borrow and Ratesetter oblige with this money. I don't think it is a case of CBA but people haven't got the time to access all the time. So in short this money is moved at low rates knowing that people reinvest automatically. This under handedness is the reason I am now pulling out money.
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upland
Member of DD Central
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Post by upland on Dec 31, 2016 13:57:35 GMT
Me too stevenpen. I wait for the holding account to get to about £100 and unload it. I have some old in effect 3 year money that would be expensive to repatriate. My real problem is that I recommended RS to a past girlfriend as a good firm (which I think it basically is) but trying to explain all this is very hard and does not help my case with her !
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upland
Member of DD Central
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Post by upland on Jan 2, 2017 10:26:34 GMT
3.5% Now for 5 year money. I said that it was a limbo dance.
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Liz
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Post by Liz on Jan 2, 2017 10:46:11 GMT
3.5% Now for 5 year money. I said that it was a limbo dance. Looks like great value!
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Post by stevepn on Jan 2, 2017 12:15:41 GMT
3.5% Now for 5 year money. I said that it was a limbo dance. Looks like great value! Good value for borrowers but not for lenders.
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Liz
Member of DD Central
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Post by Liz on Jan 2, 2017 13:20:13 GMT
Good value for borrowers but not for lenders. And RS. The platforms are now turning into greedy banks. The rush of new platforms confirms this and will continue through 2017/18, then they a number will vanish from 2019 onwards(maybe sooner)
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Post by westonkev on Jan 2, 2017 15:12:41 GMT
3.5% Now for 5 year money. I said that it was a limbo dance. At least from a risk perspective, they can attract the best quality risk customers with such a lost "cost of funds"....
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Post by stevepn on Jan 2, 2017 15:56:42 GMT
3.5% Now for 5 year money. I said that it was a limbo dance. At least from a risk perspective, they can attract the best quality risk customers with such a lost "cost of funds".... 3.5% for 5 years is a big risk to take with no guarantee you will get a penny back when you can get 2% elsewhere that is protected. Maybe when Christmas is over and things are back to normal rates will go back up.
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jcb208
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Post by jcb208 on Jan 2, 2017 16:58:27 GMT
Joining the majority at the moment moving repayments to my holding account and off to Zopa and Assetz until the rate gets back up to 5.8.Shame the sell out fees are so high other wise I would be withdrawing a lot more ,they want 7.2% for all money in the 3 year market and to sell 90% from the 5 year market the fee is 5.7% although my average rate is 6.2 .I don't think a lot of people realise the high fees to sell out
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kaya
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Post by kaya on Jan 2, 2017 16:58:48 GMT
Where can you get 2%?
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Post by stevepn on Jan 2, 2017 18:16:10 GMT
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Post by stevepn on Jan 2, 2017 18:24:48 GMT
Good value for borrowers but not for lenders. And RS. The platforms are now turning into greedy banks. The rush of new platforms confirms this and will continue through 2017/18, then they a number will vanish from 2019 onwards(maybe sooner) Dot com springs to mind.
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warn
Member of DD Central
Curmudgeon
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Post by warn on Jan 3, 2017 7:51:30 GMT
Me too stevenpen. I wait for the holding account to get to about £100 and unload it. I have some old in effect 3 year money that would be expensive to repatriate. My real problem is that I recommended RS to a past girlfriend as a good firm (which I think it basically is) but trying to explain all this is very hard and does not help my case with her ! Instead of directing income to the holding account, why not reinvest it in "Rolling" at (say) 3%. You can do instant sellout and withdraw from there in £100 chunks, having earned the odd copper meanwhile. Every little helps (though I can't guarantee it'll sufficiently impress the lady).
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