adrianc
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Post by adrianc on Jan 29, 2017 9:42:43 GMT
Took a heft sum out of Rolling (averaging 3.1% at about 12pm ) and re offered at 3.9%- all taken bringing my overall average to a healthier 4.4% overall! Was the market at or about 3.1% when you sold out? If not, I thought you still paid the charge for underselling the rate because the person buying from you needs to get a rate of 3.9%, not the 3.1 that you are selling at. If that is the case, you will be no better off. Not from the rolling market - it's always free-sell there, with interest paid to date on the loans you sell. I did the same yesterday - gained an average 0.5%, on a full-month loan.
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spiral
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Post by spiral on Jan 29, 2017 9:53:55 GMT
OK, so that probably explains the second part of my comment even more then as to why there are so many loans lasting only a couple of days. I wonder how it would pan out if absolutely everyone kept selling lower rate loans to chase the higher rates.
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adrianc
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Post by adrianc on Jan 29, 2017 9:58:37 GMT
OK, so that probably explains the second part of my comment even more then as to why there are so many loans lasting only a couple of days. Not really, because the underlying loans aren't one-month loans. They're longer.
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happy
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Post by happy on Jan 29, 2017 9:59:40 GMT
Surely that would result in a Spiral spiral !!!!
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adrianc
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Post by adrianc on Jan 29, 2017 10:30:25 GMT
TBH, unless it's for a SUBSTANTIAL amount of money, it's not worth the effort, so it's not going to be a big deal. I did it with a grand and a bit - just to experiment - and the difference is a few tens of pennies.
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spiral
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Post by spiral on Jan 30, 2017 9:03:49 GMT
TBH, unless it's for a SUBSTANTIAL amount of money, it's not worth the effort, so it's not going to be a big deal. I did it with a grand and a bit - just to experiment - and the difference is a few tens of pennies. I came to the same conclusion. Also you might just sell out loans with a few weeks left only to pick up loans with a few days left. What it did make me wonder though is whether it is worth accepting MR each day with a manual check later each day to see whether it is worth dumping them for a higher rate as opposed to setting my own rate and not having it match.
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oldgrumpy
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Post by oldgrumpy on Jan 30, 2017 9:28:10 GMT
I'm only in "rolling" to park repayments until I have another place for them. Today will be interesting. £3.4M borrowers and only £1.7M in the lenders' pot. Come mid-morning when the "sweep" occurs, I wonder how high the rate will go. I've spread from 5 to 5.6%. I wonder if those 20 offers at 10% will strike lucky - or (conveniently) a benevolent lender at 3.0% will suddenly descend from the ether ...
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Post by gricehead on Jan 30, 2017 9:39:29 GMT
I'm only in "rolling" to park repayments until I have another place for them. Today will be interesting. £3.4M borrowers and only £1.7M in the lenders' pot. Come mid-morning when the "sweep" occurs, I wonder how high the rate will go. I've spread from 5 to 5.6%. I wonder if those 20 offers at 10% will strike lucky - or (conveniently) a benevolent lender at 3.0% will suddenly descend from the ether ... There's £3.1m in the lenders' pot, with most of it between 3.4 and 4.0%. Probably won't go much higher than that today in my opinion.
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adrianc
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Post by adrianc on Jan 30, 2017 9:39:41 GMT
TBH, unless it's for a SUBSTANTIAL amount of money, it's not worth the effort, so it's not going to be a big deal. I did it with a grand and a bit - just to experiment - and the difference is a few tens of pennies. I came to the same conclusion. Also you might just sell out loans with a few weeks left only to pick up loans with a few days left. What it did make me wonder though is whether it is worth accepting MR each day with a manual check later each day to see whether it is worth dumping them for a higher rate as opposed to setting my own rate and not having it match. If you sell part of your "rolling" holdings, does it sell the lowest rate or the shortest date or...?
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Post by fiatlender on Jan 30, 2017 10:49:55 GMT
I came to the same conclusion. Also you might just sell out loans with a few weeks left only to pick up loans with a few days left. What it did make me wonder though is whether it is worth accepting MR each day with a manual check later each day to see whether it is worth dumping them for a higher rate as opposed to setting my own rate and not having it match. If you sell part of your "rolling" holdings, does it sell the lowest rate or the shortest date or...? Most recently matched.
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adrianc
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Post by adrianc on Jan 30, 2017 10:52:20 GMT
If you sell part of your "rolling" holdings, does it sell the lowest rate or the shortest date or...? Most recently matched. ...the ones I'd least want to get shot of...
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Post by fiatlender on Jan 30, 2017 10:54:58 GMT
...the ones I'd least want to get shot of... Yeah, it's annoying. Wish you could pick which loans to sell out of.
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Post by p2plender on Jan 30, 2017 11:06:05 GMT
RS seem to be finding some cash stuffed down the backs of sofas all of a sudden...
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spiral
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Post by spiral on Jan 30, 2017 11:27:00 GMT
So my theory would work. If I had £1000 at MR which matched at say 3%, I could look later today and if the going rate is 3.4, sell £1000 which would be all of today's matches of 3% and take the higher rate. If however the rate is lower, I keep my £1000 at 3%. Tomorrow say another £1000 at MR of 2.5, later going rate is 3.5, sell £2000, if going rate is 2.9, sell £1000. Heads I win tails RS lose.
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Post by fiatlender on Jan 30, 2017 11:49:04 GMT
So my theory would work. If I had £1000 at MR which matched at say 3%, I could look later today and if the going rate is 3.4, sell £1000 which would be all of today's matches of 3% and take the higher rate.If however the rate is lower, I keep my £1000 at 3%. Tomorrow say another £1000 at MR of 2.5, later going rate is 3.5, sell £2000, if going rate is 2.9, sell £1000. Heads I win tails RS lose. No. The market rate when you sell out would have to be at 3% or less.
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