mary
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Post by mary on May 16, 2017 17:37:36 GMT
My latest repayment was 12/5 - reinvested @ market rate 15/5. Across the weekend which no doubt didn't help. Previous reinvestment was same day. Likewise. But I did get a match on Sunday a week ago. But also I had a loan paid back after 1 day, which when you've waited a day or more for the loan, really drags down your effective rate of return!
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treeman
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Post by treeman on May 16, 2017 19:08:59 GMT
My latest repayment was 12/5 - reinvested @ market rate 15/5. Across the weekend which no doubt didn't help. Previous reinvestment was same day. Likewise. But I did get a match on Sunday a week ago. But also I had a loan paid back after 1 day, which when you've waited a day or more for the loan, really drags down your effective rate of return! Ah, so the weekend is not necessarily the dead zone ....... good to know!
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Post by dan1 on May 16, 2017 19:10:01 GMT
Likewise. But I did get a match on Sunday a week ago. But also I had a loan paid back after 1 day, which when you've waited a day or more for the loan, really drags down your effective rate of return! Ah, so the weekend is not necessarily the dead zone ....... good to know! Nor bank holidays, my first match was on Christmas Day, I kid you not!
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nush
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Post by nush on May 17, 2017 9:07:03 GMT
day 3 and still no loans yet.
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Post by khampson on May 17, 2017 10:48:40 GMT
I see this as a no win situation and the only way that rates can go is down, this is not good, eventually it can only go the way that ratesetter went with unappealing rates (around 3%) and although I am quite happy now, if the rate drops anymore I may change my thinking as better rates are available elsewhere, I think Growth street need to act now to stable the market as lenders will slowly leave as the rate drops meaning the supply and demand will dry up.
I am really concerned that the platform can only really go one way, I would prefer a 3 option 0.1% below and 0.1% above to the market can go both ways and account for market conditions, even if you lend at 3.0% there will be someone willing to lend at 2.9%, way I see it GS will sit on the current platform for as long as possible and then panic when the lenders do not return and the market will be poor.
I personally think GS should fix the market as to market conditions, they said they may eventually let lenders set their own rate and then over night it will become ratesetter 2, GS have plans it is just that we do not know what they are yet! We may see a rise in interest rates later this year but potentially a drop in rates on GS.
we shall see but for a platform that can only go down is not appealing long term to and investor.
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IFISAcava
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Post by IFISAcava on Jun 17, 2017 10:31:17 GMT
11 days and no match at market rate on a reinvestment. Sadly that makes it a no-brainer to go to priority rate - or shall I relocate some to the AC new 5.5% account and see what the drag is like there? Might work out better for an invest and leave account. Rate is clearly going to drift lower.
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metoo
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Post by metoo on Jun 20, 2017 19:19:19 GMT
My guess is the Great Snake swallowed a large meal with the recent promotion, which is taking time to digest.
I am hoping the balance between borrower demand and funds available will level out as they bring in more borrowers, then Market rate will have a reasonable queue again. Problem with Priority rate is it doesn't reduce the amount waiting to be lent. Only lenders removing funds or the platform lending more does that. The fact they didn't renew the promotion this month probably shows they don't want to have too much cash waiting around.
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Post by p2plender on Jun 23, 2017 12:39:54 GMT
Must be two weeks now with cash sat idle. Not good.
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greatmarko
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Post by greatmarko on Jun 23, 2017 15:59:12 GMT
Yesterday, they updated their " Time To Match" statistics page... but these new figures still seem wildly inaccurate & somewhat misleading to new investors! I actually joined GS at the start of this week, based on the time to match stats as they were then, I expected about 65% of my investment to have been lent in "less than a day" at "Market Rate". At the end of this week, I'm still 0% invested. Yes, I know the Time To Match stats are historic & no guarantee of future performance, etc, etc... but I'd expect them to at least give a rough indication of how long it's likely to take to become invested on GS!
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metoo
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Post by metoo on Jun 23, 2017 16:22:16 GMT
Yesterday, they updated their " Time To Match" statistics page... but these new figures still seem wildly inaccurate & somewhat misleading to new investors! I actually joined GS at the start of this week, based on the time to match stats as they were then, I expected about 65% of my investment to have been lent in "less than a day" at "Market Rate". At the end of this week, I'm still 0% invested. Yes, I know the Time To Match stats are historic & no guarantee of future performance, etc, etc... but I'd expect them to at least give a rough indication of how long it's likely to take to become invested on GS! I do think things should revert to previous matching performance once the glut of money from promotional funds goes through and new borrowers are found. That page says: The data are an average for the last 6 months. With a promotion, it's easy to bring in a lot of new money, harder to put it to work.
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savernake
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Post by savernake on Jun 23, 2017 16:53:32 GMT
I agree the 'Time to Match' statistics page is misleading as it covers the last 6 months. It's frustrating we are given no real-time visibility of the lending queue meaning we have no idea how long we'll really be waiting.
When I joined GS two months ago, my first deposit was matched at Market Rate the same day. Last month my re-investment was matched in 2 days. This month it has been waiting in the queue for almost two weeks now. It's just daft waiting for weeks to be invested in a 30-day investment. I was very happy with Growth Street in the early days, but they do appear to be struggling at the moment.
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amphoria
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Post by amphoria on Jun 23, 2017 22:03:07 GMT
My last match took 13 days from 7th June at the market rate.
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Post by p2plender on Jun 24, 2017 5:26:14 GMT
The platform desperately needs some form of data to show where your capital is in the queue. All too vague.
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pom
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Post by pom on Jun 24, 2017 18:42:10 GMT
My last match took 13 days from 7th June at the market rate. Hmmm and I have an order from 8th June still unfulfilled...perhaps because it's "new" money rather than a reinvestment (silly me trying to increase my holdings on the platform!!!!) - meanwhile having switched everything newer to priority they all got invested within 24hrs. I think it was 12months for the new investor offer....my guess is the market rate will be down to about 5.2% by then.... hmmmm
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Post by df on Jun 25, 2017 0:47:19 GMT
My last match took 13 days from 7th June at the market rate. Hmmm and I have an order from 8th June still unfulfilled...perhaps because it's "new" money rather than a reinvestment (silly me trying to increase my holdings on the platform!!!!) - meanwhile having switched everything newer to priority they all got invested within 24hrs. I think it was 12months for the new investor offer....my guess is the market rate will be down to about 5.2% by then.... hmmmm Priority of reinvestment over new money is Zopa's practice, I don't think GS is subscribing to it. My guess is the same - about 5% this time next year. Can be even lower if they allow lenders to set their own rates like RS does.
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