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Post by gidoppp01 on May 26, 2017 8:00:00 GMT
These are the worst months for rate since 2013 according to my loan book
Year | Month | My worst Rate | Actual worst rate of the year
2013: April | 5.3% | 4.8%
2014: March | 5.6% | 5.3%
2015: August | 5.7% | 5.7%
2016: May | 4.7% | 4.2%
2017: Jan | 4.8% | 2.9%
I stopped re-investment on Jan 2017
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Post by ruralres66 on May 26, 2017 9:22:05 GMT
Time to look for pastures new. Can RS survive on this performance?
Last Matched Rates
Rolling
2.8% at 10:17
1 Year
2.0% at 06:55
5 Year Income
3.8% at 10:18
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Post by yorkshireman on May 26, 2017 9:57:10 GMT
Can RS survive on this performance? Ordinarily I would say no but I guess that many half wits lenders will continue taking these rates because of what’s on offer from mainstream financial firms and they don’t understand the risks associated with Ratesetter. www.money.co.uk/savings-accounts/5-year-fixed-rate-bonds.htm
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mary
Member of DD Central
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Post by mary on May 26, 2017 10:11:20 GMT
And still no FCA full authorisation!
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dandy
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Post by dandy on May 26, 2017 10:24:10 GMT
Time to look for pastures new. Can RS survive on this performance?Last Matched Rates Rolling 2.8% at 10:17 1 Year 2.0% at 06:55 5 Year Income 3.8% at 10:18 On the contrary, this is a sign of platform strength not weakness.
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Post by gidoppp01 on May 26, 2017 10:32:46 GMT
Can RS survive on this performance? Ordinarily I would say no but I guess that many half wits lenders will continue taking these rates because of what’s on offer from mainstream financial firms and they don’t understand the risks associated with Ratesetter. www.money.co.uk/savings-accounts/5-year-fixed-rate-bonds.htmIt doesn't matter what the other saving accounts are doing, it is about the rate the Ratesetters actually lending to borrowers:- www.uswitch.com/loans/The lowest rate offered by ratesetter for borrowers is 2.9% However, the highest rate offered by RateSetter I find is actually 13.7% (£1000 for 6 months) and 9.5% ( £1000 for 5 years)
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ashtondav
Member of DD Central
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Post by ashtondav on May 26, 2017 10:34:22 GMT
"Miss-selling?" Or "Miss-buying?"
Either way this will not end well for 5 year lenders. Interest starved punters are desperate and some one will have to pay. I'll wager a few quid it won't be RS, it won't be the borrower, but it will be the mug punters sucked in by their own lack knowledge of risk.
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Post by yorkshireman on May 26, 2017 12:24:48 GMT
"Miss-selling?" Or "Miss-buying?" Either way this will not end well for 5 year lenders. Interest starved punters are desperate and some one will have to pay. I'll wager a few quid it won't be RS, it won't be the borrower, but it will be the mug punters sucked in by their own lack knowledge of risk. That’s exactly what I’m saying above, I’m looking at this from the lender’s perspective not the borrowers’, mugs see what is on offer from banks and building societies etc. and then see a higher rate say 3% for 5 years from RS and in their ignorance lend at that rate. As you say, this will not end well for 5 year lenders.
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dandy
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Post by dandy on May 26, 2017 12:33:25 GMT
"Miss-selling?" Or "Miss-buying?" Either way this will not end well for 5 year lenders. Interest starved punters are desperate and some one will have to pay. I'll wager a few quid it won't be RS, it won't be the borrower, but it will be the mug punters sucked in by their own lack knowledge of risk. That’s exactly what I’m saying above, I’m looking at this from the lender’s perspective not the borrowers’, mugs see what is on offer from banks and building societies etc. and then see a higher rate say 3% for 5 years from RS and in their ignorance lend at that rate. As you say, this will not end well for 5 year lenders. Why not? If they get 3% per year (i.e. what is says on the tin) then what is the problem?
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Post by yorkshireman on May 26, 2017 12:40:00 GMT
That’s exactly what I’m saying above, I’m looking at this from the lender’s perspective not the borrowers’, mugs see what is on offer from banks and building societies etc. and then see a higher rate say 3% for 5 years from RS and in their ignorance lend at that rate. As you say, this will not end well for 5 year lenders. Why not? If they get 3% per year (i.e. what is says on the tin) then what is the problem? No problem for me, it’s their choice!
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james21
Member of DD Central
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Post by james21 on May 26, 2017 16:46:44 GMT
The rates are far too low, I have enough in my account for the bonus, once the year is up I will be out
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Post by stevepn on May 26, 2017 18:40:14 GMT
That’s exactly what I’m saying above, I’m looking at this from the lender’s perspective not the borrowers’, mugs see what is on offer from banks and building societies etc. and then see a higher rate say 3% for 5 years from RS and in their ignorance lend at that rate. As you say, this will not end well for 5 year lenders. Why not? If they get 3% per year (i.e. what is says on the tin) then what is the problem? The simple reason is that the borrower could default and you end up with nothing because you are not protected by the FSCS.
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Post by stevepn on May 26, 2017 18:48:05 GMT
Can RS survive on this performance? Ordinarily I would say no but I guess that many half wits lenders will continue taking these rates because of what’s on offer from mainstream financial firms and they don’t understand the risks associated with Ratesetter. www.money.co.uk/savings-accounts/5-year-fixed-rate-bonds.htmI was one of those half wits who automatically reinvested the monthly cash never dreaming that the rates were so low. When I checked up one day at some of the rates I had received over the months I put it in the holding account and started withdrawing my money. I believe Ratesetter do it deliberately for their own benefit.
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james21
Member of DD Central
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Post by james21 on May 26, 2017 19:06:51 GMT
I was one of those half wits who automatically reinvested the monthly cash never dreaming that the rates were so low. When I checked up one day at some of the rates I had received over the months I put it in the holding account and started withdrawing my money. I believe Ratesetter do it deliberately for their own benefit. I too was a half wit but a fast learner and have largely exited ratesetter along with my accounts at funding circle and zoppa, takes a while to learn the ropes of ptop!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 26, 2017 20:00:44 GMT
Same shenanigans appear to be happening Down Under with my RateSetter Oz account. Am now slowly backing away, like I seem to be with several other P2Ps of late.  |
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