ashtondav
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Post by ashtondav on Jun 30, 2017 7:18:19 GMT
Just go to Zopa + or core.
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Post by newlender on Jun 30, 2017 9:11:14 GMT
Do you mean Z+ and ZC ISA?
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macq
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Post by macq on Jun 30, 2017 12:01:04 GMT
Just go to Zopa + or core. have heard there's a long waiting list if your not already a member
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ashtondav
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Post by ashtondav on Jun 30, 2017 12:16:15 GMT
Sorry, yes you are correct. A long waiting list.
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ceejay
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Post by ceejay on Jun 30, 2017 13:59:15 GMT
Re Zopa - even if you are a member (which I am) it's a very different product to the RS 1 year market, which is where my money currently is (but slowly leaking out as each loan ends!). So not much of an alternative...
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09dolphin
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Post by 09dolphin on Jul 2, 2017 4:10:24 GMT
As there's about £26000000 waiting to be lent rate will go lower. Supply and demand.
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ceejay
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Post by ceejay on Jul 2, 2017 8:29:54 GMT
As there's about £26000000 waiting to be lent rate will go lower. Supply and demand. Well, yes, supply and demand, clearly - but I was curious to know which had changed. More money available to lend, or less demand for loans? So I downloaded the loan book - goes up to 31st May - and did a very quick pivot on the data, looking at volume by quarter. From 2016Q1 to 2017Q1 the total lending volume goes 162M, 152M, 178M, 173M, 184M. A modest growth line I think, but no more. The figure for 2017Q2 - NB, 2 months only - is just 104M. I don't know if there is some end-of-month effect that means that you shouldn't do a simple extrapolation from 2 months to 3, but if you did then you'd get a quarterly figure of just 156M, a 28M drop from Q1. So it looks to me like we have the perfect storm of a combination of both lower demand for (or less successful selling of) loans, together with what I presume (no data) to be increasing availability of lenders' funds as more cash falls out of old high-rate bonds and P2P becomes generally more mainstream.
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Post by davee39 on Jul 2, 2017 9:50:10 GMT
RS does not yet have full FCA approval. RS has been warned off wholesale lending Provision fund coverage has been dropping Zopa has scrapped it's Safeguard to become more competitive
My conclusion is that RS growth has been driven by riskier lending due to difficulties maintaining volume in the cutthroat personal loan market (eg 30 months interest free on credit cards). Additionally the massive move into PCP for car loans may have affected this traditional source of borrowers. Zopa have scrapped Safeguard to allow them to cut their loan cost and be more competitive (they were over provisioning by 10%).
The RS model remains very opaque, if the monthly market has RS as the only customer, where do the lower rate borrower offers come from?
The automated nature of RS re-investment means there may be many investors unaware of current rates, or perhaps perfectly happy with them due to the lack of alternatives.
The following share tips have been redacted due to complaints regarding my attempted share ramping, for which I am deeply apologetic. Buy *** or $$$ or £££.
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ashtondav
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Post by ashtondav on Jul 2, 2017 10:02:44 GMT
MBNA credit card offers 0% for 42 months...
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Post by keyboardworrier on Jul 3, 2017 12:59:56 GMT
I've just removed money from RS and it's gone to Landbay, AC QAA and Octopus Choice (I would have put some into Kuflink too but there's a lack of opportunities there right now). I will be keeping an eye on the rates at RS and if they ever improve I'll be putting money back into it.
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oik
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Post by oik on Jul 3, 2017 14:32:11 GMT
Answer to the question "How low can these rates go?" seems to be: not low enough for Ratesetter.
In Rolling there's currently £14m of those misleading "borrower offers" and only £11m on offer from lenders at 2.9% or below. Yet mid afternoon and they're still offering just 2.2% to anyone they can persuade to take the "lend it now" offer. They'll have to pay well above that eventually but will try to get as much as they can from the gullible at 2.2%. No wonder the FCA aren't happy with them. Transparency would be great but just simple honesty would be a start.
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robski
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Post by robski on Jul 3, 2017 14:47:47 GMT
Answer to the question "How low can these rates go?" seems to be: not low enough for Ratesetter. In Rolling there's currently £14m of those misleading "borrower offers" and only £11m on offer from lenders at 2.9% or below. Yet mid afternoon and they're still offering just 2.2% to anyone they can persuade to take the "lend it now" offer. They'll have to pay well above that eventually but will try to get as much as they can from the gullible at 2.2%. No wonder the FCA aren't happy with them. Transparency would be great but just simple honesty would be a start. Always like this on the big days Returns from 5 year can be as late as lunchtime/early afternoon, and they don't start any matching until all thats done it would seem. They could do with a faster box (and less conspiracy theorists)
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oik
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Post by oik on Jul 3, 2017 16:01:39 GMT
Always like this on the big days Returns from 5 year can be as late as lunchtime/early afternoon, and they don't start any matching until all thats done it would seem. They could do with a faster box (and less conspiracy theorists) To use the term "matching" as you do seems to suggest that there really are "borrowers" who wouldn't pay more than 2.2% this morning but at the end of the day are now willing to change their offers to match the 2.9% being asked by lenders. Isn't quite how it works is it, though some people who were accepting 2.2% may have believed it.
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Post by ruralres66 on Jul 4, 2017 11:41:52 GMT
Tesco looking more promising by the minute! Last Matched Rates Rolling 2.1% at 14:46 1 Year 1.8% at 14:29 5 Year Income 4.5% at 1 www.tescobank.com/savings/compare-rates.htmlInternet Saver
1.11% Gross/AER (variable)Includes a fixed 0.71% bonus for 12 months on balances up to £1 million. Standard Interest Rate (variable) - annually at the end of March; bonus rate - on the anniversary of the account opening £1 - Fixed Rate Saver: 1 year term Our Fixed Rate Saver offers a choice of terms 1.01% Gross/AERGuaranteed for the 1 year term Annually or monthlyWe calculate interest daily from the date we receive your deposit £2,000 - - More Fixed Rate Saver: 2 year term Our Fixed Rate Saver offers a choice of terms
1.47% Gross/AERGuaranteed for the 2 year term Annually or monthlyWe calculate interest daily from the date we receive your deposit £2,000 - - More Fixed Rate Saver: 3 year term Our Fixed Rate Saver offers a choice of terms
1.80% Gross/AERGuaranteed for the 3 year term Annually or monthlyWe calculate interest daily from the date we receive your deposit £2,000 - - More Fixed Rate Saver: 4 year term Our Fixed Rate Saver offers a choice of terms 1.82% Gross/AERGuaranteed for the 4 year term Annually or monthlyWe calculate interest daily from the date we receive your deposit £2,000 - - More Fixed Rate Saver: 5 year term Our Fixed Rate Saver offers a choice of terms 2.00% Gross/AERGuaranteed for the 5 year term Annually or monthlyWe calculate interest daily from the date we receive your deposit £2,000 - - More Fixed Rate Cash ISA: 1 year term
0.96% Gross/AERGuaranteed for the 1 year term Annually on the anniversary of the account opening £1 - More Instant Access Cash ISA 0.97% Gross/AER (variable)Includes a fixed 0.47% bonus for 12 months Annually on the anniversary of the account opening £1 More Junior Cash ISA Save for your children - tax free 3.00% Gross/AER (variable) Annually on the anniversary of the account opening £1
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adrianc
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Post by adrianc on Jul 4, 2017 14:03:04 GMT
Big bite of the 3.0% queue was matched yesterday.
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