alender
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Post by alender on Aug 6, 2018 9:07:47 GMT
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Post by dan1 on Aug 6, 2018 9:26:39 GMT
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alender
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Post by alender on Aug 6, 2018 9:42:44 GMT
Well done for finding the Info so quickly, so it is taken from the 15th of the previous month. This is not mentioned on their Webpage landbay.co.uk/investments/classic-account and I could not find this in the terms and conditions so I believe most people would have expected this to be the 2nd July rate. However from previous form from Landbay I an expecting them to reduce Tracker rate (before LIBOR is added) once the new LIBOR rates take effect.
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Post by dan1 on Aug 6, 2018 9:53:17 GMT
Well done for finding the Info so quickly, so it is taken from the 15th of the previous month. This is not mentioned on their Webpage landbay.co.uk/investments/classic-account and I could not find this in the terms and conditions so I believe most people would have expected this to be the 2nd July rate. However from previous form from Landbay I an expecting them to reduce Tracker rate (before LIBOR is added) once the new LIBOR rates take effect. landbayceo posted in response to a similar question I asked, I too had tried unsuccessfully to find the source of the rate.
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Post by landbayceo on Aug 8, 2018 12:33:24 GMT
Yes - We reset our tracker rate quarterly - that is why we use 3month libor as opposed to 1 month libor or 1 day libor. The next reset will happen on 1st August and we will use 15th Sept rate as the reference point.
To also highlight that if and when we change the margin over libor that only applies to new investments - it doesnt impact funds that are already invested and so if 3 month Libor stays where it is then the new rate will be 2.50% + 0.8% = 3.3%.
I take the point around when we reference it - we will make clearer on the website.
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macq
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Post by macq on Aug 8, 2018 13:36:38 GMT
Yes - We reset our tracker rate quarterly - that is why we use 3month libor as opposed to 1 month libor or 1 day libor. The next reset will happen on 1st August and we will use 15th Sept rate as the reference point.
To also highlight that if and when we change the margin over libor that only applies to new investments - it doesnt impact funds that are already invested and so if 3 month Libor stays where it is then the new rate will be 2.50% + 0.8% = 3.3%.
I take the point around when we reference it - we will make clearer on the website.
i'm confused - reset on 1st Aug from a 15th Sept rate?
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macq
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Post by macq on Aug 8, 2018 15:56:29 GMT
i'm confused - reset on 1st Aug from a 15th Sept rate? Reset on 1st October. thanks
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Post by landbayceo on Aug 8, 2018 18:54:23 GMT
Yes - Apologies 1st Oct - Typo!
Longer term rates and competitors rates (from a mortgage perspective) haven't really budged - the longer term outlook - ie beyond 2 years has actually fallen. Bearing in mind that the market is expect Base rates at 1.25% in 3 years time...
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macq
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Post by macq on Sept 4, 2018 17:36:09 GMT
Yes - We reset our tracker rate quarterly - that is why we use 3month libor as opposed to 1 month libor or 1 day libor. The next reset will happen on 1st August and we will use 15th Sept rate as the reference point.
To also highlight that if and when we change the margin over libor that only applies to new investments - it doesnt impact funds that are already invested and so if 3 month Libor stays where it is then the new rate will be 2.50% + 0.8% = 3.3%.
I take the point around when we reference it - we will make clearer on the website.
just revisited this post on the tracker and don't think my brain is in gear(whats worse i'm trying to explain it to someone else) so any help welcome The reply says the margin over libor only applies to new investments & does not impact funds already invested. But the LB rates info page says when libor changes your rate changes too - which makes sense if its a tracker If LB change the 2.5% rate up or down i can see that as a new rate but surely if libor changes that effects the rate over already invested money? (as per the web page info not the above reply)
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Post by landbayceo on Sept 4, 2018 17:52:39 GMT
macq
Apologies for the ambiquity.
When Libor changes that feeds through to all tracker products as you rightly say. However if we were to change the margin on top of libor of the tracker product that would not impact current investments only future ones.
Hope that makes sense
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macq
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Post by macq on Sept 4, 2018 18:38:38 GMT
macq
Apologies for the ambiquity.
When Libor changes that feeds through to all tracker products as you rightly say. However if we were to change the margin on top of libor of the tracker product that would not impact current investments only future ones.
Hope that makes sense
Thanks yes make sense (as long as i can tell my wife if she invests tomorrow and the rate goes up she gets the new rate )
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Post by redeye555 on Sept 16, 2018 3:17:13 GMT
3 month Libor rate is 0.798 as of Friday 14th.
I guess that means an increase on the tracker to 3.30% as of 1st October.
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alender
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Post by alender on Sept 17, 2018 8:09:24 GMT
3 month Libor rate is 0.798 as of Friday 14th. I guess that means an increase on the tracker to 3.30% as of 1st October. And a good chance of a subsequent rate reduction by LB, like last time the LIBOR rates when up.
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macq
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Post by macq on Sept 17, 2018 10:26:32 GMT
3 month Libor rate is 0.798 as of Friday 14th. I guess that means an increase on the tracker to 3.30% as of 1st October. And a good chance of a subsequent rate reduction by LB, like last time the LIBOR rates when up. Hopefully not as there must come a point where people stop investing as any lower and the rates from some BS fixed rates bonds would start to look better(but at least a rise would filter through to invested money)
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macq
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Post by macq on Oct 1, 2018 12:20:32 GMT
3 month Libor rate is 0.798 as of Friday 14th. I guess that means an increase on the tracker to 3.30% as of 1st October. And a good chance of a subsequent rate reduction by LB, like last time the LIBOR rates when up. And unfortunately you were right rate its a drop to 2.3% before LIBOR + .8% (might even be a fraction less then before overall now) But only shows new rate when my wife logged in not on home page?
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