dandy
Posts: 427
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Post by dandy on May 24, 2017 12:26:51 GMT
5 year was down to 2.7% when I looked a few minutes ago. I don't see how it could be argued that these rates justify the risks inherent in the product, and I'd say RateSetter are in danger of bringing the P2P industry into disrepute. what about Wellesley at 1.75% for one year or a whopping 1.85% for 2 years
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Post by WestonKevTMP on May 24, 2017 12:49:58 GMT
I agree entirely, it would be interesting to hear what WestonKevTMP as an ex RateSetter man has to say about these rates. Ha, as if I give in to goading..... Personally won't lend at these rates, although I won't say my minimum rate I'm under no illusions. Those halcyon days of 6% are long gone... (until we have a recession, or if there is a platform wobble causing nervousness) The issue is that the markets are not functioning as markets. On the lender side we control the term and rate we desire, and although we might quibble about naive lenders, it is essentially pure. On the borrower side, RateSetter control which market pot of money fills a loan. Kevin.
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Post by yorkshireman on May 24, 2017 12:52:10 GMT
I agree entirely, it would be interesting to hear what WestonKevTMP as an ex RateSetter man has to say about these rates. Ha, as if I give in to goading..... Personally won't lend at these rates, although I won't say my minimum rate I'm under no illusions. Those halcyon days of 6% are long gone... (until we have a recession, or if there is a platform wobble causing nervousness) The issue is that the markets are not functioning as markets. On the lender side we control the term and rate we desire, and although we might quibble about naive lenders, it is essentially pure. On the borrower side, RateSetter control which market pot of money fills a loan. Kevin. Would I goad you Kev?
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ashtondav
Member of DD Central
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Post by ashtondav on May 24, 2017 12:52:30 GMT
It's a marketplace: price is determined by supply and demand. Usually, as with shares, the price is the result of applying the knowledge of a multitude of rational, informed investors.
RS is a marketplace where all informed, rational investors (lenders) are withdrawing money to go to other places.
RS is now left with a pool of irrational, unknowledgeable, illinformed lenders. Just the sort who will headline the Daily Wail, when the brown stuff hits the fan
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 24, 2017 12:55:04 GMT
5 year was down to 2.7% when I looked a few minutes ago. I don't see how it could be argued that these rates justify the risks inherent in the product, and I'd say RateSetter are in danger of bringing the P2P industry into disrepute. what about Wellesley at 1.75% for one year or a whopping 1.85% for 2 years They've (Wellesley) just offered me a two/three year "new" bond 4%/4.75% to influence me not to withdraw maturing funds in early June. I will not accept. I'm winding down my substantial RS 3/5 year 5.9%/6% wedge as repayments come in. I will not accept that borrowers are offering me 2.8% for having my money for 5 years. Borrowers don't make offers to us. This is something Ratesetter refuses to acknowledge as they continue to mislead people. RS tells the borrower what their rate will be, then pretends that borrowers are nearly always offering 0.1-0.2% below the current lender offer, and sometimes up to 1% below "market rates" which RS have already engineered. PS Hi, Kev!
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Post by gidoppp01 on May 24, 2017 14:05:46 GMT
Last Matched Rates ROLLING 2.8% at 14:58 1 YEAR 2.1% at 13:47 5 YEAR INCOME 3.0% at 14:31 I don't know why I bother to post something here with rates like these. I shouldn't.
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