TheDriver
Member of DD Central
Slightly bonkers
Posts: 493 
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Post by TheDriver on Oct 4, 2018 6:12:29 GMT
It happened early this morning. Large repayment on RS for 5 year loan formed less than a week. Last match on the market was 6.3% @ 0635 2018-10-04 But the Market rate now is 4.6%!No, it's 6.0%. The lower offers are reinvestments at a specific lower rate pre-set by individual investors, and the 4.6% was for "lend now" offers - although the page showing that seems to have disappeared since the new screens were introduced. HtH Edit: I've just realised the Lend Now rates appear under the "Invest" button; obvious really, but I usually make offers from the "Portfolio" screen!
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benaj
Member of DD Central
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Post by benaj on Oct 4, 2018 6:17:42 GMT
It happened early this morning. Large repayment on RS for 5 year loan formed less than a week. Last match on the market was 6.3% @ 0635 2018-10-04 But the Market rate now is 4.6%!No, it's 6.0%. The lower offers are reinvestments at a specific lower rate, and the 4.6% was for "lend now" offers - although the page showing that seems to have disappeared since the new screens were introduced. HtH Some poor guys got done for market rate, last match was 3.3% on 5 year @ 07:05
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ashtondav
Member of DD Central
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Post by ashtondav on Oct 4, 2018 7:11:31 GMT
No, it's 6.0%. The lower offers are reinvestments at a specific lower rate, and the 4.6% was for "lend now" offers - although the page showing that seems to have disappeared since the new screens were introduced. HtH Some poor guys got done for market rate, last match was 3.3% on 5 year @ 07:05 Without the “dumb money” we wouldn’t be raking in those tasty 6%+ rates. Gawd bless ‘em, poor things...
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rscal
Posts: 985
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Post by rscal on Oct 4, 2018 18:35:11 GMT
Could be borrowers exploiting the 14 day cooling off period that they are entitled to? This must have been what happened to me on the Rolling. I had large chunks eaten at 2.8% on the morning of 6th June and a substantial chunk of that repaid abruptly late in the evening of 18th (12 days) The original contract said 48 months. It was promptly reinvested at 2.6% since it counted as a repayment and (under the RM rule changes introduced in June) was placed automatically with no option to intervene or set a clear higher rate instruction. This late repayment is the subject of an Ombudsman complaint and I'm still waiting on them.
EDIT: Ha! I've just had an Early Repatment @6.6% (5 Year) from a loan agreed on Sunday. 'Agreed' but not taken out the borrower it seems. Yes I've received 7p interest thanks very much ... I also lent out two other small amounts (@6.5%) at almost the same time on Sunday night - hopefully it was to a different borrower...
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benaj
Member of DD Central
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Post by benaj on Nov 30, 2018 10:04:26 GMT
Just wondering if anyone notice any lots of early repayment today. I got one this morning and the current market rates dropped.
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