benaj
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Post by benaj on Feb 22, 2018 9:36:41 GMT
On rolling market today, 2018-02-22 09:32
£531 @ 3.1, 2 orders
2 micro loans @ 3.1% for less than £1000, I have never seen such a low rate being offered in any comparison web site. Even the lowest APR credit card is 5.3%. I can't even imagine ratesetter would offer 0% purchase for 30+ months either.
What's your thought?
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Post by propman on Feb 22, 2018 13:14:23 GMT
One of the loans may be nearly complieted, so the smallest loan might be £500 which is consistent with Giff-gaff loans.
The rate is what they are offering lenders, add the fees and provision fund contributions and the rate to the borrower is likely to be double figures!
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benaj
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Post by benaj on Feb 22, 2018 16:44:10 GMT
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cb25
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Post by cb25 on Feb 22, 2018 17:40:23 GMT
RS Rolling currently shows Borrowers as £858.12 (3 orders) at 2.9%
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ashtondav
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Post by ashtondav on Feb 22, 2018 18:19:57 GMT
Blimey! Why's the provvy fund not at full ratio? RS must be making shedloads of gross margin.
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mary
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Post by mary on Feb 22, 2018 19:19:42 GMT
Blimey! Why's the provvy fund not at full ratio? RS must be making shedloads of gross margin. There's a fixed amount per loan that goes to the PF, the rest is costs and margin. The admin costs for a small loan are virtually the same as for a much larger consumer loan, hence it is not correct to assume that RS is milking it here, although I'm sure it is nice business when lender rates are depressed by the extra ISA money now coming in.
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benaj
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Post by benaj on Feb 23, 2018 11:59:42 GMT
There's a fixed amount per loan that goes to the PF, the rest is costs and margin. The admin costs for a small loan are virtually the same as for a much larger consumer loan, hence it is not correct to assume that RS is milking it here, although I'm sure it is nice business when lender rates are depressed by the extra ISA money now coming in. That's something about the new RS account, new investors cannot set the rate for initial investment 🙄
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cb25
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Post by cb25 on Feb 23, 2018 12:28:48 GMT
There's a fixed amount per loan that goes to the PF, the rest is costs and margin. The admin costs for a small loan are virtually the same as for a much larger consumer loan, hence it is not correct to assume that RS is milking it here, although I'm sure it is nice business when lender rates are depressed by the extra ISA money now coming in. That's something about the new RS account, new investors cannot set the rate for initial investment 🙄Do you mean the IFISA ?
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ashtondav
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Post by ashtondav on Feb 23, 2018 13:04:11 GMT
You can set the rate in an isa account. Don’t understand.
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cb25
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Post by cb25 on Feb 23, 2018 14:10:04 GMT
On rolling market today, 2018-02-22 09:32 £531 @ 3.1, 2 orders2 micro loans @ 3.1% for less than £1000, I have never seen such a low rate being offered in any comparison web site. Even the lowest APR credit card is 5.3%. I can't even imagine ratesetter would offer 0% purchase for 30+ months either. What's your thought? Now showing 1 Borrower Offer of £292 @ 2.4%.
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