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Post by davee39 on Dec 12, 2017 15:29:56 GMT
Donald Trump has not tweeted on this conspiracy yet, so it cannot be true.
Really, if you do not trust the 'evil' Ratesetter Empire then perhaps it would be better to try elsewhere.
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Post by skint4achange on Dec 12, 2017 15:43:28 GMT
Donald Trump has not tweeted on this conspiracy yet, so it cannot be true. Really, if you do not trust the 'evil' Ratesetter Empire then perhaps it would be better to try elsewhere. I don't really think it is a case of not trusting the "Evil" Ratesetter Empire, but it is more of a case of it being a little bit inconvenient. When you sit there watching for a decent rate to invest your money at for a certain period ( By this I mean what is shown on the contract not what market you invest in.) just to find yourself having to do the same thing a few weeks later is a bit underhanded in all honesty. If the loan is repaid by the borrower, then I do not have an issue (Nor would any other poster on here, I believe), however, when the repayment appears to be Ratesetter restructuring loans using lower APR funds that have become available it kind of makes you wonder about their way of operating.
Now, if I was Ratesetter I would be more than happy to do this to lower my costs, and it is fine for you to sit here and say if we don't like it to go somewhere else, but if LOTS of investors did that where would it leave the platform? Therefore, if we provide funds to Ratesetter in good faith, then they should operate the loans in good faith also.
All of that said, I have little else to do at the moment than watch rates for 12 hours a day and I can see fewer safer places to invest and get 6%. But, never hurts to have a good moan (In the Royal Navy we had an expression, Jack isn't happy unless he is dripping!)
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dorset
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Post by dorset on Dec 12, 2017 16:35:48 GMT
Donald Trump has not tweeted on this conspiracy yet, so it cannot be true. Really, if you do not trust the 'evil' Ratesetter Empire then perhaps it would be better to try elsewhere. I don't really think it is a case of not trusting the "Evil" Ratesetter Empire, but it is more of a case of it being a little bit inconvenient. When you sit there watching for a decent rate to invest your money at for a certain period ( By this I mean what is shown on the contract not what market you invest in.) just to find yourself having to do the same thing a few weeks later is a bit underhanded in all honesty. If the loan is repaid by the borrower, then I do not have an issue (Nor would any other poster on here, I believe), however, when the repayment appears to be Ratesetter restructuring loans using lower APR funds that have become available it kind of makes you wonder about their way of operating.
Now, if I was Ratesetter I would be more than happy to do this to lower my costs, and it is fine for you to sit here and say if we don't like it to go somewhere else, but if LOTS of investors did that where would it leave the platform? Therefore, if we provide funds to Ratesetter in good faith, then they should operate the loans in good faith also.
All of that said, I have little else to do at the moment than watch rates for 12 hours a day and I can see fewer safer places to invest and get 6%. But, never hurts to have a good moan (In the Royal Navy we had an expression, Jack isn't happy unless he is dripping!)
I don't have a problem with RS seeking to reduce the cost of lending by redeeming loans early but it would be nice to see this explained when investing. I spent some time investing £20k a few months ago all at 6%+ and now have had about £4k back in my account in one morning. When is the rest going to be returned? Never happened to me before in nearly 6 years with RS. Totally unpredictable. Have now moved the £4k out. The problem is that IMO any rate at less than 6% in RS does not compensate for the funds run and lock in that will at some point occur.
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jonah
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Post by jonah on Dec 12, 2017 19:39:15 GMT
There is another possibility.... potentially one of RS largest borrowers with potentially several loans has defaulted. RS has paid all the loans out of the PF so you aren’t out of pocket and can reinvest or transfer away. If this is the case and the loans are large enough, the PF might drop a percentage point or so tomorrow.
The alternative is as suggested earlier a large borrower repaid a lot of loans.
if I was into betting I’d put my money on one of those options.
The idea that RS pretend to repay to borrow again at a lower rate and they take more margin is terrifying. If it was true and they were caught by the regulator and it was made public they would probably suffer a loss in confidence which could be very problematic. As they are (I’m guessing) reasonably smart, they would know this. So they wouldn’t run such a risk unless it was so desperate that the risk was worthwhile. Given those scenarios, you either trust them with your money or you don’t. There is always some risk with none Fscs investment. Personally there are a lot of thinks I don’t like about RS and they do slant things towards low rates, but the market “playing” suggested in this thread isn’t something I think they are doing or would do. RS is currently my 2nd largest p2p platform.
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Stonk
Stonking
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Post by Stonk on Dec 12, 2017 19:42:40 GMT
I also had some loans from the 5 Year market repaid early today. They were at rates of 6.0%, 6.1%, 6.2% and 6.3%.
I have felt in the past that when this happened it might be RS messing around, internally refinancing a loan that hasn't actually been repaid by the true borrower.
However, if that were the case, surely they would do it with the loans at the highest rates? For instance, I have other 5 Year loans between 6.4% and 7.9% which were not repaid.
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Post by skint4achange on Dec 12, 2017 19:48:01 GMT
I also had some loans from the 5 Year market repaid early today. They were at rates of 6.0%, 6.1%, 6.2% and 6.3%. I have felt in the past that when this happened it might be RS messing around, internally refinancing a loan that hasn't actually been repaid by the true borrower. However, if that were the case, surely they would do it with the loans at the highest rates? For instance, I have other 5 Year loans between 6.4% and 7.9% which were not repaid. If I were you, I would keep those large APR loans to yourself! RS might be reading this and repay them!!
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dorset
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Post by dorset on Dec 12, 2017 23:02:38 GMT
There is another possibility.... potentially one of RS largest borrowers with potentially several loans has defaulted. RS has paid all the loans out of the PF so you aren’t out of pocket and can reinvest or transfer away. If this is the case and the loans are large enough, the PF might drop a percentage point or so tomorrow. The alternative is as suggested earlier a large borrower repaid a lot of loans. if I was into betting I’d put my money on one of those options. The idea that RS pretend to repay to borrow again at a lower rate and they take more margin is terrifying. If it was true and they were caught by the regulator and it was made public they would probably suffer a loss in confidence which could be very problematic. As they are (I’m guessing) reasonably smart, they would know this. So they wouldn’t run such a risk unless it was so desperate that the risk was worthwhile. Given those scenarios, you either trust them with your money or you don’t. There is always some risk with none Fscs investment. Personally there are a lot of thinks I don’t like about RS and they do slant things towards low rates, but the market “playing” suggested in this thread isn’t something I think they are doing or would do. RS is currently my 2nd largest p2p platform. I'd love to believe you. But 18 separate loans taken out on different dates over about a month in September, hence only 3 months old, and all defaulting on the same morning, and all at rates above 6% mmm ??
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spiral
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Post by spiral on Dec 13, 2017 8:09:35 GMT
If this is the case and the loans are large enough, the PF might drop a percentage point or so tomorrow. And it has, down from 115 to 114!
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dorset
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Post by dorset on Dec 13, 2017 10:05:00 GMT
westonkevRS , do you care to shed some light on this matter as a representative of Ratesetter? He isn't, any longer, a representative of RS .. you'd do better to email or call their customer support folks. Yes we know that he is no longer with RS but he is always quick to give us the positive line on RS events. Perhaps his silence suggests that there isn't a positive line on this one?
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puddleduck
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Post by puddleduck on Dec 13, 2017 10:16:38 GMT
He isn't, any longer, a representative of RS .. you'd do better to email or call their customer support folks. Yes we know that he is no longer with RS but he is always quick to give us the positive line on RS events. Perhaps his silence suggests that there isn't a positive line on this one? I don't think its reasonable to expect any ex-employee to comment on this. I actually do not have a problem per se with the early repayments - I treat the one year market as a de facto 2 to 3 month 'rolling' as I find my loans are regularly repaid around that timeframe. but at 1 to 1.5% higher rates the real 30 day rolling market. So I take advantage of the early repayment expectation and (hopefully) avoid long term lock-ins
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jonah
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Post by jonah on Dec 13, 2017 13:57:02 GMT
If this is the case and the loans are large enough, the PF might drop a percentage point or so tomorrow. And it has, down from 115 to 114! I want to like this post as it helps confirm my theory. However, I don't want to like a drop in the PF level. Hmmm. Choices choices. Good spot spiral
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Post by skint4achange on Dec 13, 2017 14:01:39 GMT
Not for long though, back to 115?? Plenty of new loans to top up the PF then.
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Post by stevepn on Dec 28, 2017 10:15:58 GMT
Another early repayment on a 3 yr loan. It was only 4% pity it wasn't my 2.1 % loan.
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