warn
Member of DD Central
Curmudgeon
Posts: 605
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Post by warn on Nov 7, 2014 14:21:16 GMT
I don't use it, wouldn't recommend anyone else use it, and don't understand forum members who stubbornly refuse to stop using it! ... What is (a) your view, and (b) Ratesetter's view, of non-forum members like Rumpy the Red, who stubbornly and credulously believe that your website is telling them the truth? This is not intended to be a rhetorical question.
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Post by jackpease on Nov 7, 2014 14:33:41 GMT
Now i need reassurance here as i realise i don't really know what the 'your rate' is that you keep referring to. In my case I am leaving £1k sitting there at what i think is a 'manual' choice of 6.4% - that will sit, and sit, and sit there but if there's a spike it may then get lent. Ignore the issue of whether that i am losing interest by waiting - the question is that none of the problems Old Grumpy is referring to will affect or undermine that 'manual' instruction??
Jack P
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Post by geoffrey on Nov 7, 2014 14:52:50 GMT
I only used it to save getting up early in the morning to place my desired order... I only log in every day to see what's happening because what I wanted didn't happen ... I shall stop using it except when I actually want to set a floor for a short period. Other times I shall re-invest manually as and when necessary. You can usually make an informed guess around 10pm the night before of where the MR is likely to be the next day. This is what I do (to get ahead of the repayment queue), and it works 90% of the time. Hence my annoyance when some, ahem, "lender" plonks >£50K (or >2% of total funds for loan) at MR-0.1% or MR-0.2% at five to midnight, just prior to the famous "Guilford Street fix" at midnight. - don't get offended westonkev, I'm pulling your leg here. More to the point, there seems to be quite a psychological barrier at 6.0%, don't you think folks? Borrowers are reluctant to take offers above it (and built up a near £2m of approved demand over the last week, only easing up today), while the bulk of lenders seem unwilling to go below, at least in volumes large enough to shift the MR down. If the MR does shift down, a huge avalanche of money will shift with it. Now I don't want to go giving westonkev any ideas of what to do with his bonus...
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Post by GSV3MIaC on Nov 7, 2014 18:22:37 GMT
Now i need reassurance here as i realise i don't really know what the 'your rate' is that you keep referring to. In my case I am leaving £1k sitting there at what i think is a 'manual' choice of 6.4% - that will sit, and sit, and sit there but if there's a spike it may then get lent. Ignore the issue of whether that i am losing interest by waiting - the question is that none of the problems Old Grumpy is referring to will affect or undermine that 'manual' instruction?? Jack P You are quite safe. 'My rate' is what you can set for an automatic reinvestment instruction.
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Post by geoffrey on Nov 29, 2014 16:30:36 GMT
Looks like a bit of a spike is forming. £2.6 million approved demand on the 4/5-year market, and only £537,000 lender funds available. I realize lots of repayments will roll in on Tuesday (I believe Monday will only have repayments made on Friday) but will that be anywhere near enough to cover this level of demand? I expect RS has some emergency liquidity funds waiting to be deployed...
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agent69
Member of DD Central
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Post by agent69 on Nov 29, 2014 17:25:34 GMT
I expect RS has some emergency liquidity funds waiting to be deployed... If the rate stays above 6% I may have some funds of my own to invest
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Post by p2plender on Nov 29, 2014 18:46:57 GMT
Don't worry, a million squid will no doubt miraculously appear soon.
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Post by westonkevRS on Nov 29, 2014 21:26:38 GMT
Isn't that the point of the markets, lender returns surge and people are tempted to pile in.... I know I am! Best get in soon though, before the queue grows with the first of month repayments.....
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Post by p2plender on Nov 30, 2014 9:15:00 GMT
Why of course but it's very frustrating especially when our Aussie friends are achieving Wonga rates..........
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warn
Member of DD Central
Curmudgeon
Posts: 605
Likes: 632
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Post by warn on Nov 30, 2014 16:26:43 GMT
Yeah, but what with living on Vegemite and Foster's, they're entitled to a few compensations.
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agent69
Member of DD Central
Posts: 5,615
Likes: 4,190
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Post by agent69 on Nov 30, 2014 18:22:47 GMT
Yeah, but what with living on Vegemite and Foster's, they're entitled to a few compensations. Nothing wrong with a Vegemite sandwich. Fosters, XXXX and VB. Now that's another matter.
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