smezz
Posts: 180 
Likes: 73
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Post by smezz on Mar 11, 2019 19:05:14 GMT
The people piling in at 6.4 should pile in at 6.6 - only 10k difference.
Newbs!!
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Post by carrdelling on Mar 11, 2019 20:33:38 GMT
I just matched 2k at 5.3% in the 1-year market and 6.6% in the 5-year one.
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Mar 11, 2019 21:10:13 GMT
The people piling in at 6.4 should pile in at 6.6 - only 10k difference.
Newbs!!
Maybe not so ... the fun is soon to end. The reinvestment job has started running.
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smezz
Posts: 180
Likes: 73
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Post by smezz on Mar 11, 2019 21:17:46 GMT
I got all my 6.6 eventually but no 6.7.
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Post by df on Mar 11, 2019 21:26:07 GMT
The people piling in at 6.4 should pile in at 6.6 - only 10k difference.
Newbs!!
Matched at 6.5%. Thank you for "alert" 
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trevor
Member of DD Central
Posts: 557
Likes: 381
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Post by trevor on Mar 11, 2019 21:35:41 GMT
Someone at RS has just put 50p in the meter and stated up their computer. Shame.
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Post by rudry2677 on Mar 11, 2019 22:07:17 GMT
I am beginning to have concerns about Ratesetter and am starting to withdraw my money.
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trevor
Member of DD Central
Posts: 557
Likes: 381
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Post by trevor on Mar 11, 2019 22:52:07 GMT
Why. When lender money exceeds borrowers rates go down. When borrower money exceeds lenders, rates go up. Simple supply and demand. Why is that causing you to withdraw. I'm putting money in.
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smezz
Posts: 180
Likes: 73
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Post by smezz on Mar 11, 2019 23:15:06 GMT
I have a nominal 5% of my cash in RS - no other P2P exposure.
I got as high as 6% in October when 6.7/6.8/6.9 was available.
I ran down to 4.8% until the last 2 weeks and topped up to my current 4.97% with the recent 6.4/6.5/6.6.
I aim to run down again if rates go down but will go higher temporarily if the chance presents itself.
My overall average rate is 6.225% including some early duds (min 4.9%).
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Mar 12, 2019 1:42:47 GMT
Why. When lender money exceeds borrowers rates go down. When borrower money exceeds lenders, rates go up. Simple supply and demand. Why is that causing you to withdraw. I'm putting money in.
I have technological concerns about them. They need faster processing to cope with the quantity of loan contracts now in the system. Every Monday, 1st of a month, or any other "unusual" day, causes late processing. It is gradually getting worse. A year ago, Mondays were slow but all wrapped up by about midday. Now it is regularly into the late afternoon and evening.
They should at least chuck some faster hardware at it until they can address the real cause (programming).
It is costing RS money at the moment. All day today (and every Monday), lenders matched at significantly higher rates than they ought to have been able to, simply because reinvested money was not put on the market until the evening. This is eating into RS's margin.
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ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
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Post by ashtondav on Mar 12, 2019 7:49:10 GMT
Why. When lender money exceeds borrowers rates go down. When borrower money exceeds lenders, rates go up. Simple supply and demand. Why is that causing you to withdraw. I'm putting money in.
I have technological concerns about them. They need faster processing to cope with the quantity of loan contracts now in the system. Every Monday, 1st of a month, or any other "unusual" day, causes late processing. It is gradually getting worse. A year ago, Mondays were slow but all wrapped up by about midday. Now it is regularly into the late afternoon and evening.
They should at least chuck some faster hardware at it until they can address the real cause (programming).
It is costing RS money at the moment. All day today (and every Monday), lenders matched at significantly higher rates than they ought to have been able to, simply because reinvested money was not put on the market until the evening. This is eating into RS's margin.
Don’t think their margin has anything to do with rates achieved by lenders. Anyway, my 6.5% wedge was hoovered up. So very happy.
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aju
Member of DD Central
Posts: 3,500
Likes: 924
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Post by aju on Mar 12, 2019 15:37:31 GMT
Why. When lender money exceeds borrowers rates go down. When borrower money exceeds lenders, rates go up. Simple supply and demand. Why is that causing you to withdraw. I'm putting money in.
I have technological concerns about them. They need faster processing to cope with the quantity of loan contracts now in the system. Every Monday, 1st of a month, or any other "unusual" day, causes late processing. It is gradually getting worse. A year ago, Mondays were slow but all wrapped up by about midday. Now it is regularly into the late afternoon and evening.
They should at least chuck some faster hardware at it until they can address the real cause (programming).
It is costing RS money at the moment. All day today (and every Monday), lenders matched at significantly higher rates than they ought to have been able to, simply because reinvested money was not put on the market until the evening. This is eating into RS's margin.
You could actually be describing the very same issues over on Zopa that started to get worse in the last 18 months. In Zopa's case they have been threatening to fix a lot of this by moving to a new improved platform but sadly none of it seems to have materialised. In the case of Zopa though I'm not sure the slowdown has affected their rates in the same way.
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robski
Member of DD Central
Posts: 772
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Post by robski on Mar 12, 2019 17:18:08 GMT
The timing does affect RS because the rate we get and the rate the customer pays are divorced.
RS work on the gap in the middle.
To me the issue is whats behind the delay, is it bank, is it internal.
Have they de-automated something to make it more hands on due to some other problem, there are plenty of maybes that are nothing to worry about.
The volume of transactions will go up, it should at some point reach a roughly stable point, assuming lending is also fairly stable.
Its one to be watched, but I don't see any real issues as such at this point.
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smezz
Posts: 180
Likes: 73
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Post by smezz on Mar 12, 2019 20:15:49 GMT
I'm guessing that they update the Rolling, then the 1 year and only then the 5 year.
I only use the 5 year so I'm not sure - could someone comment on whether the Rolling is as slow as the 5 year after a weekend - I suspect not?
One relatively simple solution would be to run the 3 updates on 3 separate CPUs with a small co-ordination layer to bring it all together.
Another big issue will be the fragmentation of orders as the proceeds are reinvested - I've got 213 orders on my accounts so far.
I can think of other ways to smooth the system response but the 'weekend syndrome' is where the fun is - as long as it doesn't actually grind to a halt!
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smezz
Posts: 180
Likes: 73
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Post by smezz on Mar 13, 2019 11:01:28 GMT
5 year market:
Total available for lending is relatively low - only £960k - usually £1.4M - £2.4M.
Could indicate decent rates by end of week / w/e.
Edit: big chunk arrived now £1.2M - so nearly back to normal.
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