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Post by ogwellian on Jun 14, 2017 18:43:40 GMT
Never known so much before. I always get my repayments matched at 3% in a couple of days. May be a bit longer now!!
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Post by ruralres66 on Jun 15, 2017 10:36:22 GMT
£15.5 million not long after!
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Post by ika88 on Jun 15, 2017 10:39:18 GMT
Never known so much before. I always get my repayments matched at 3% in a couple of days. May be a bit longer now!! I've just dropped some funds in at 3% which is a little lower than I had intended, looks like I'm in for a long wait! Have you had any luck yet?
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Post by nesako on Jun 15, 2017 18:56:15 GMT
The only reason I still have money in RS is to get the joining bonus... once that year is up, there is no way I will live with these low rates... under 3% pff....
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hugo
New Member
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Post by hugo on Jun 16, 2017 11:37:20 GMT
The only reason I still have money in RS is to get the joining bonus... once that year is up, there is no way I will live with these low rates... under 3% pff.... I agree. I just lent at 2.7% to have my money do something than leave it sitting unmatched at 3%. My bonus is due mid September and then I am out. Making better returns on stocks and the safety of banks with the higher interest regular savings accounts.
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pikestaff
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Post by pikestaff on Jun 17, 2017 5:54:10 GMT
No need to go that low. Having seen that my 3% money was stuck I reduced it to 2.9% and it went the same day. I left a small marker in 3% which is still there with £5.5m ahead in the queue. When that goes I may put my rate back up to 3% depending on how the market looks.
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Post by ruralres66 on Jun 17, 2017 9:19:58 GMT
I have done likewise and it went at 2.9% last evening.
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Post by investor1925 on Jun 21, 2017 13:10:19 GMT
The only reason I still have money in RS is to get the joining bonus... once that year is up, there is no way I will live with these low rates... under 3% pff.... I agree. I just lent at 2.7% to have my money do something than leave it sitting unmatched at 3%. My bonus is due mid September and then I am out. Making better returns on stocks and the safety of banks with the higher interest regular savings accounts. Sadly I am in the same boat as the rest of you. The only thing is that my joining bonus is paid next week Up until last month I had £20k in, but started moving it into more lucrative P2P platforms, ow down to £13k. I just won't lend at less than 3%, I can get that from my bank !!!
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ding
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Post by ding on Jun 21, 2017 14:41:16 GMT
Not sure if the people waiting at 10%, 9% etc don't know they have queued funds or are delusional. Wish there were more of them though! I currently pull funds from 1% - 1.1% accounts, so I'll still keep a chunk in RS.
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r00lish67
Member of DD Central
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Post by r00lish67 on Jun 21, 2017 15:58:56 GMT
I currently pull funds from 1% - 1.1% accounts, so I'll still keep a chunk in RS. Appreciate this may have been a throwaway comment, but unless I've misunderstood your meaning, another way of saying this is "I currently pull funds from a different asset class with a significantly safer risk proposition to earn a shade under 3% in peer to peer, with no guarantees as to the return of my capital, so that's ok". If I have understood correctly, I really think this is a more delusional argument than the 9%'ers could offer. I'm not trying to be flippant, but there's a reason that the only real discussion point on RS threads for the last few months is how woeful the rates are, and it's not because they're only a bit better than the leading cash accounts. It's because the rates are very low compared to the risks of a) your rolling funds being locked in for up to 5 years and b) losing capital on your investment. I just hope you're not really treating RS as a straight alternative to a cash savings account. Btw, on a lighter note, I've not seen it in a long while but the RS market did once upon a time occasionally sprinkle fairy dust around and spring to silly numbers for brief periods of time, so the 9%'ers can happen sometimes which is probably why they're there. Not a strategy I'd particularly recommend either though
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ding
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Post by ding on Jun 21, 2017 17:28:39 GMT
I currently pull funds from 1% - 1.1% accounts, so I'll still keep a chunk in RS. Appreciate this may have been a throwaway comment, but unless I've misunderstood your meaning, another way of saying this is "I currently pull funds from a different asset class with a significantly safer risk proposition to earn a shade under 3% in peer to peer, with no guarantees as to the return of my capital, so that's ok". I also didn't say that I've not added further funds since my original deposit. Of my liquid assets (other P2P, cash, shares, OEIC, IT) I have 1% invested at RS. Of course RS is not 100% safe, but close. Should people start loosing capital on sites such as RS and landbay I expect they will see significant outflows. And if that result is true it would be in the interest of the platform to bail out lenders at their expense.
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jnm21
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Post by jnm21 on Jun 24, 2017 9:22:42 GMT
Not sure if the people waiting at 10%, 9% etc don't know they have queued funds or are delusional. Wish there were more of them though! I currently pull funds from 1% - 1.1% accounts, so I'll still keep a chunk in RS. Perhaps using it like a deposit account; next to no risk, no reward, except the joining/referral bonus? If I was going to recommend Ratesetter, it would be on that basis, now that they are rumoured to have changed the provision fund (they have still to notify me)!!!
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ding
Member of DD Central
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Post by ding on Jun 24, 2017 15:23:50 GMT
Perhaps using it like a deposit account; next to no risk, no reward, except the joining/referral bonus? If I was going to recommend Ratesetter, it would be on that basis, now that they are rumoured to have changed the provision fund (they have still to notify me)!!! Agree. Also got a chunk of the referral of the guy who referred me. Not paying income tax on referral/cashback is also nice.
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jnm21
Posts: 441
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Post by jnm21 on Jun 24, 2017 17:28:12 GMT
Perhaps using it like a deposit account; next to no risk, no reward, except the joining/referral bonus? If I was going to recommend Ratesetter, it would be on that basis, now that they are rumoured to have changed the provision fund (they have still to notify me)!!! Agree. Also got a chunk of the referral of the guy who referred me. Not paying income tax on referral/cashback is also nice. Would like that one twice if I could! Another one I did (just exited this week) was moneyfarm - tried it, didn't like it, but loved the tax free £140 topcashback!
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Post by alan1221 on Jun 25, 2017 6:25:49 GMT
jnm21 - does moneyfarm hold low cost index tracker funds or is it just a few active funds?
Thanks
Alan
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