r00lish67
Member of DD Central
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Post by r00lish67 on Jun 13, 2019 10:56:22 GMT
<snip>.. My final concern with RS in particular is their history of changing lending types and informing lenders after the event. I worry about the increase in real estate lending. Anyone who has read my posts knows that I do not believe secured lending necessarily reduces risk, particularly for Developers, a sector I know well.
Interested in how others read it...
- PM
This is a good point too - RS flag that in the last 3 months, 29% of their lending was in property, and also say that the purpose is "typically for property development". To be fair, the other criteria they have does suggest to me that thankfully they're not using FS/Lendy quality borrowers, but still that's a pretty potentially illiquid asset class they're investing nearly a third of our money in (esp. as it's prop dev). Incidentally, I'm really not sure now RS reach for the headline "RateSetter loans are uncorrelated with other asset classes" in bright red un-nuanced letters here. Really? Are they seriously saying there is zero correlation between the impact a massive recession would have on equities, property and consumer default rates and their own lending portfolio? They also show a graph underneath which shows a nice steady RS returns line put against the wobbly up and down FTSE. This, apparently, is evidence of their lack of correlation -?
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Post by propman on Jun 13, 2019 12:00:57 GMT
Incidentally, I'm really not sure now RS reach for the headline "RateSetter loans are uncorrelated with other asset classes" in bright red un-nuanced letters here. Really? Are they seriously saying there is zero correlation between the impact a massive recession would have on equities, property and consumer default rates and their own lending portfolio? They also show a graph underneath which shows a nice steady RS returns line put against the wobbly up and down FTSE. This, apparently, is evidence of their lack of correlation -? No expert, but being overly reductionist, a correlation is a relationship between data sets. Maybe they are trying to say that historic returns are uncorrelated (an objective test), without stating that the markets are uncorrelated in principle which clearly they will be in a downturn sufficiently severe to cause a haircut. If so, it is clearly misleading if not actually incorrect (ie hanging there hat on "past performance is no indicator of future performance).
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smezz
Posts: 180
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Post by smezz on Jun 13, 2019 19:21:10 GMT
6% on 5 year possible on Monday?
This could attract new money so 6.1 might take a while.
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travolta
Member of DD Central
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Post by travolta on Jun 14, 2019 14:43:03 GMT
Creeping:5.8 on 5yr mkt now
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cb25
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Post by cb25 on Jun 14, 2019 16:34:14 GMT
Creeping:5.8 on 5yr mkt now Last match on the 5yr market was 5.9% at 17.30 . Things are looking up (been a while, I've been withdrawing all repayments for the last couple of months)
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aju
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Post by aju on Jun 14, 2019 16:47:42 GMT
Creeping:5.8 on 5yr mkt now Last match on the 5yr market was 5.9% at 17.30 . Things are looking up (been a while, I've been withdrawing all repayments for the last couple of months) well mrs aju's 6% punt is getting close, was thinking she might drop it a bit as its been there a few days waiting for the weekend uplift but also not expecing it to hit 6. She says lets see what it does. Since cb25 post its 100k nearer. It is still sitting at 1.5M so its a tad hopeful i know but it is only friday.
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travolta
Member of DD Central
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Post by travolta on Jun 14, 2019 17:21:21 GMT
IMO its best to feed in as it goes up: Buyer remorse v cash drag(on). Just off to buy a lottery ticket .
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smezz
Posts: 180
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Post by smezz on Jun 14, 2019 23:30:44 GMT
£200 left on 5.9% lending with £18.7k of borrowing still to go.
My £10 marker on 6% is £1.3M away!
Only £2.7M on lending queue.
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Post by omsettler on Jun 15, 2019 5:13:07 GMT
Nice to wake up this morning and see the last match was at 6% funny, when the tide turns, it turns quickly with these rates (up or down).
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smezz
Posts: 180
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Post by smezz on Jun 15, 2019 22:40:59 GMT
Not seen 6% today.
Unusual for Friday to have higher rates than Saturday.
Looks like quite a bit of new money in at 5.8 / 5.9.
£2.8M on lending queue.
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Post by multiaccountmanager on Jun 16, 2019 9:13:23 GMT
Not seen 6% today. Unusual for Friday to have higher rates than Saturday. Looks like quite a bit of new money in at 5.8 / 5.9. £2.8M on lending queue. Rolling is at 5.3% at the moment.
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Post by Deleted on Jun 16, 2019 10:15:24 GMT
Rolling is at 6%. Anyone with money in the 5 year queue should surely consider moving it into Rolling?
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tomp
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Post by tomp on Jun 16, 2019 11:33:47 GMT
Rolling is at 6%. Anyone with money in the 5 year queue should surely consider moving it into Rolling? I am with RS for less than a year and I have never seen Rolling at 6%. Should I be concerned? Am I missing something?
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Stonk
Stonking
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Post by Stonk on Jun 16, 2019 11:49:11 GMT
Rolling is at 6%. Anyone with money in the 5 year queue should surely consider moving it into Rolling? I am with RS for less than a year and I have never seen Rolling at 6%. Should I be concerned? Am I missing something?
I have been with RS a lot longer, but I wonder the same as you. Only a small number of weeks ago there were many £M in lender offers on the Rolling market, and earlier this morning it was down to a total of £150K. It is not unprecedented by any means, but it may signal that there's a fair amount of money exiting at the moment. Whether it is exiting for a good reason, or simply because of a sheep effect, is up to us to guess!
There does seem to be longer than usual delays in releasing funds, which would understandably spook some people.
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nickpo
New Member
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Post by nickpo on Jun 16, 2019 12:49:09 GMT
I released some this morning and it only took a few minutes.
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