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Post by p2plender on Sept 9, 2017 8:40:48 GMT
Almost scammy this Growth Street. Pull everyone in at 6.5% then obliterate the returns. Fortunately no one has suffered losses (yet) apart from moving money thinking they would be getting a competitive return. In hindsight I should have stayed in RS monthly but hindsight .............................
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Post by p2plender on Sept 9, 2017 8:42:53 GMT
And why not display the current rates on the front page GS???
You have to go hunting into your orders to find the rates have moved (only downwards) with this lot. Only then do you realise your money has been sat idle at a rate that is never going to be matched. Scammy.
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ben
Posts: 2,020 
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Post by ben on Sept 9, 2017 11:39:38 GMT
Think scammy is a bit harsh, got issues yes. The rate was always going to drop in the current market.
My main issues are that it takes to long to get money relent out and the way the rate drops, once these are fixed I may well return as it offers a bit of diversity from the usual property.
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Post by p2plender on Sept 10, 2017 0:03:41 GMT
"My main issues are that it takes to long to get money relent out"
Well I'm sure this is the reason why one invests money, so it's certainly a 'main issue' than.
GS imo, knew exactly what they were doing. Opening up the market to private investors coupled with the bonus was certainly going to achieve their objective to drive rates down. Scammy maybe harsh, but I don't see much praise for GS. Roll on the start of the new FC.
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Post by p2plender on Nov 12, 2017 23:13:59 GMT
Bump.
I've set this to bump every 3 weeks which will probably be in line with what the title says on the tin.
Not the best way to promote/run a business but this is 'Growth st' we're on about..
Utter Garbage.
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greatmarko
Member of DD Central
Posts: 343
Likes: 373
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Post by greatmarko on Nov 13, 2017 17:11:40 GMT
Bump. I've set this to bump every 3 weeks which will probably be in line with what the title says on the tin. That's optimistic - rates have been continually falling by 0.1% closer to every TWO weeks! 26th July Priority Rate fell to 6.0% 6th August Priority Rate fell to 5.9% (11 days later) 24th August Priority Rate fell to 5.8% (18 days later) 6th September Priority Rate fell to 5.7% (13 days later) 27th September Priority Rate fell to 5.6% (21 days later) 10th October Priority Rate fell to 5.5% (13 days later) 28th October Priority Rate fell to 5.4% (18 days later) 12th November Priority Rate fell to 5.3% (15 days later) 28th November Priority Rate fell to 5.2% (16 days later) ...by the end of the year, we'll be down to 5.0%. By the end of the current financial year, we'll be down to around 4.4%
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Post by p2plender on Nov 13, 2017 22:27:32 GMT
Apologies! Garbage hey?
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Post by p2plender on Nov 26, 2017 2:01:27 GMT
Talk of new borrower demand coming in. So I expect rates to rise, and pigs to fly.
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Post by beeje13 on Nov 26, 2017 7:58:17 GMT
Rates will still drop at first, until investors find out that market rate orders are matched in a reasonable time.
I think it would be better if GS just managed the rates themselves and changed them much less.
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Post by p2plender on Nov 26, 2017 12:03:45 GMT
Do you think any borrowers are paying 100bps less than 6 months back with GS??
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Post by beeje13 on Nov 26, 2017 14:49:46 GMT
No, I think GS margins have increased. Which is fine of course, I want the platform to be successful and profitable.
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Post by richarda on Nov 28, 2017 9:32:16 GMT
This morning (28/11) my loans that had matured overnight were already lent out at a Priority Rate of 5.2%.
Market stabilising? Probably not since in the GS model everyone will simply keep their reinvestment setting on Priority Rate until their money can do better elsewhere.
I've just switched to Market Rate to see what happens. I'll not be holding my breath, though.
Richard.
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IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
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Post by IFISAcava on Nov 28, 2017 9:59:39 GMT
This morning (28/11) my loans that had matured overnight were already lent out at a Priority Rate of 5.2%. Market stabilising? Probably not since in the GS model everyone will simply keep their reinvestment setting on Priority Rate until their money can do better elsewhere. I've just switched to Market Rate to see what happens. I'll not be holding my breath, though. Richard. you'll be waiting a long time - there has been not a single match at "market" rate since June!
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mullet
Member of DD Central
Posts: 126
Likes: 137
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Post by mullet on Nov 28, 2017 13:52:41 GMT
This morning (28/11) my loans that had matured overnight were already lent out at a Priority Rate of 5.2%. Market stabilising? Probably not since in the GS model everyone will simply keep their reinvestment setting on Priority Rate until their money can do better elsewhere. I've just switched to Market Rate to see what happens. I'll not be holding my breath, though. Richard. you'll be waiting a long time - there has been not a single match at "market" rate since June! I think you got lucky. There was a rate drop today and it sounds like you managed to jump the queue. Great for you ...not so good for everyone already on a higher rate that had to rejoin the queue behind you
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nush
Member of DD Central
Posts: 396
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Post by nush on Nov 29, 2017 12:19:22 GMT
fully out of GS now, the last drop was one too many for me, might be back if things get sensible again
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