jo
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Post by jo on Aug 9, 2014 8:38:27 GMT
Sorry folks, I have gone for 5.9% to get my £10.09 repayment loaned out ahead of the pack. With the recent lending highs I am sure this cash will be absorbed over the next few weeks - come on RS time to break the £7m barrier. Reading the Zopa forum, I now suspect some of the cash is coming from over there, repayments are concentrated at the first of the month. With Zopa offering a fixed 5.2% I think the differential with RS at up to 6.4 was too much even for the diehards, although there remains a loyal stubborn few who cannot see the future. I'm still getting 6.0%, but the "wall of cash" is certainly more than I'd expected. The interesting thing about Zopa's 5.2% is that it isn't really fixed: it's a minimum. As my mother has discovered this week investing on both RS and Zopa, the actual rate you get on Zopa can be seriously higher. I'll document more in the comparison thread I started earlier this week when this evening's Zopa disbursements are in. I haven't invested in Zopa since Safeguard was introduced for all the reasons documented on this forum, but this week has set me wondering.... Your last paragraph got me checking. My last 100 matches have been at an average of 6.27% (ex-fee). I've been withdrawing monthly from Zopa and only investing shrapnel, so this covers the period back to June.
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jcb208
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Post by jcb208 on Aug 9, 2014 9:48:23 GMT
Well I dropped my rate from 6.3 to 6.0 yesterday to lend out my re payments quicker and was lent out the same day.Was getting 6.3 easy 2 weeks ago.Like many others I am also withdrawing my money from Zopa and investing it in to Ratesetter as it comes available
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Post by johnny on Aug 9, 2014 11:19:56 GMT
I'm still getting 6.0%, but the "wall of cash" is certainly more than I'd expected. The interesting thing about Zopa's 5.2% is that it isn't really fixed: it's a minimum. As my mother has discovered this week investing on both RS and Zopa, the actual rate you get on Zopa can be seriously higher. I'll document more in the comparison thread I started earlier this week when this evening's Zopa disbursements are in. I haven't invested in Zopa since Safeguard was introduced for all the reasons documented on this forum, but this week has set me wondering.... Your last paragraph got me checking. My last 100 matches have been at an average of 6.27%. I've been withdrawing monthly from Zopa and only investing shrapnel, so this covers the period back to June. I have always been aware that the RP on Zopa was just that, a promise that you would get a rate no lower, didn't really cross my mind that it could be much higher. My average is 5.99% over a 123 matches. My average on RS is 5.8 however a little skewed as I started investing at 5.4% and until recently always used the auto reinvest, maybe to early to write off Zopa.
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Post by geoffrey on Aug 9, 2014 11:27:34 GMT
johnny, can you clarify if this is before or after the Zopa fee?
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Post by johnny on Aug 9, 2014 13:25:14 GMT
johnny, can you clarify if this is before or after the Zopa fee? I took the % average from my loan book, longer loans, however I think you are right about the question. I am so used to RS after fees % rates I just took the figure as net. Looking at my weekly lend its 4.7% net of fees which will be topped up with the RP to 5.2%. My monthly is 5.5% again after fees. I don't know what last weeks average on RS 5y, must be about 6.2% so I think I might have got a little excited. It sounds about right 5.99% less fees + RP. Still learning .
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Post by rarrar on Aug 9, 2014 14:31:25 GMT
Its not only Zopa's rates that are making me withdraw and reinvest with RS but the slow speed of reinvestment on Zopa - when I tried a few weeks ago my money sat there for 2 weeks without any being placed.
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oldgrumpy
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Post by oldgrumpy on Aug 9, 2014 14:52:48 GMT
.... but the slow speed of reinvestment on Zopa - when I tried a few weeks ago my money sat there for 2 weeks without any being placed. It is reports like this which ensure that I no longer lend with Zopa, even at their barely competitive 5.2% rate promise. My stake has dropped from £24K to about £14K since last September when I was disgusted to find a sequence of about 24 loans in 5 year over about ten days gave me 3.85% (when there was no RP and "projected rate was around 4.6%) Zopa want to provide the cheapest borrowing in the league tables. I'm not greedy, but I don't choose to be the cheapest lender.
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Post by p2plender on Oct 12, 2014 11:12:42 GMT
I've been away so not been following but again a wall of money seems to have appeared. Any theories? Is this to do with that p2p lending fund that started several months ago? Maybe the new 'enhanced' website has attracted lenders in their thousands??
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agent69
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Post by agent69 on Oct 12, 2014 11:25:43 GMT
I've been away so not been following but again a wall of money seems to have appeared. Any theories? Is this to do with that p2p lending fund that started several months ago? Maybe the new 'enhanced' website has attracted lenders in their thousands?? About £600k appeared at 6.2% earlier in the week, which appears to have caused a bit of a blockage. Also the number of matches has been unusually low for the last few days.
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pikestaff
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Post by pikestaff on Oct 12, 2014 13:36:27 GMT
...Also the number of matches has been unusually low for the last few days. Perhaps borrowers are more easily put off by the new site
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Post by westonkevRS on Oct 12, 2014 13:38:26 GMT
Have you seen our adverts around? On the tubes, posters and newspapers; here's one from this weekend's FT. If this does attract some new money alongside Monday's repayments, some lenders might have to settle for 6.0 or 6.1%.....
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agent69
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Post by agent69 on Oct 12, 2014 15:27:31 GMT
Have you seen our adverts around? On the tubes, posters and newspapers; here's one from this weekend's FT. If this does attract some new money alongside Monday's repayments, some lenders might have to settle for 6.0 or 6.1%..... Doesn't explain the near miraculous appearance of the £600k though!
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Post by westonkevRS on Oct 12, 2014 18:14:52 GMT
Nah, I didn't get the 6.5%, settled for a lowly 6.2% I don't know specifically about the tranche, although I think it'll be many as opposed to a single lender. I tend to know about our bigger lenders, and sometimes even have chats! We have started RateSetter's biggest ever advertising campaign though this week, after the new web site was bedded in (No comments please). Perhaps the adverts are doing their job....
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agent69
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Post by agent69 on Oct 12, 2014 18:45:25 GMT
and £50k just appeared at 4.8% in the 3 year market, when the going rate was 5%.
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