robski
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Post by robski on Nov 1, 2019 14:56:11 GMT
Showing £2.4M at 5.1% to borrow! Must be a bug surely?
I've never seen such a huge single borrower order.
Breaking through the GR is important. No matter how hard RS try to suppress rates and coerce people towards 3%/4%/5%, supply and demand will ultimately win.
Its dropped to half that amount now, and the lending queue doesn't seem to be moving so its either matching a lot and not updating properly or its something else I guess its possible they changed something somehow and this is a big chunk of rolling over loans I expect the GR queue to be refilled quite a lot today, but its more than possible its not going to last that long into the month
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jlend
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Post by jlend on Nov 1, 2019 15:02:16 GMT
Showing £2.4M at 5.1% to borrow! Must be a bug surely? Property loans are up to 7.5m Could be one of these.
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sl75
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Post by sl75 on Nov 1, 2019 15:05:41 GMT
Queue now wiped out all the way up to 3.4%/4.4%/5.4%.
Presumably now matching the oldest queued money from 0.1% above this.
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Post by Deleted on Nov 1, 2019 15:15:45 GMT
If you've got money queued at 5.2, 5.3 or 5.4 in the 5 year market, you can get 5.4 in Max and a lower withdrawal penalty.
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robski
Member of DD Central
Posts: 772
Likes: 462
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Post by robski on Nov 1, 2019 15:23:43 GMT
Interesting it only matched that high, bt mybe it was already matching when I noticed When I looked the £2.4m should have matched upto about 5.8%, I put on at 5.7% at that point but it fell well short Hopefully its a weekend loan and I didnt miss out
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sl75
Posts: 2,092
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Post by sl75 on Nov 1, 2019 15:41:30 GMT
Interesting it only matched that high, bt mybe it was already matching when I noticed When I looked the £2.4m should have matched upto about 5.8%, I put on at 5.7% at that point but it fell well short Hopefully its a weekend loan and I didnt miss out It had already got whittled down to about £1.25M before they let it match the rest against market offers (taking out everything up to 5.4% or equivalent within a single update).
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Nov 1, 2019 15:49:43 GMT
Not complaining but...
I added some money and put it on offer in Max at 5.4%, where it immediately got matched into a new loan at 5.5%, even though there's a queue at 5.5%.
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aju
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Post by aju on Nov 1, 2019 15:53:20 GMT
Not complaining but...
I added some money and put it on offer in Max at 5.4%, where it immediately got matched into a new loan at 5.5%, even though there's a queue at 5.5%.
ssh! Ratesetter may be lurking ...
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Post by bernythedolt on Nov 1, 2019 15:53:51 GMT
The new Ratesetter model, where logic goes out the window...
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Post by Deleted on Nov 1, 2019 15:54:37 GMT
It seems as though RS is really paying the price for processing repayments so slowly. There'll be a big chunk of repayments added later today/overnight which would have kept rates close to GR. Similarly on Monday after the weekend.
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aju
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Post by aju on Nov 1, 2019 15:57:45 GMT
It seems as though RS is really paying the price for processing repayments so slowly. There'll be a big chunk of repayments added later today/overnight which would have kept rates close to GR. Similarly on Monday after the weekend. I'd check my loans haven't closed out as quickly, I bet that part of the system will not be slow - mind you if the borrowers have the option to veto the loan if the rate is too high then I guess its gonna happen more and more. It's happened a couple of time over the last week or so to us.
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jlend
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Post by jlend on Nov 1, 2019 17:03:08 GMT
It seems as though RS is really paying the price for processing repayments so slowly. There'll be a big chunk of repayments added later today/overnight which would have kept rates close to GR. Similarly on Monday after the weekend. I'd check my loans haven't closed out as quickly, I bet that part of the system will not be slow - mind you if the borrowers have the option to veto the loan if the rate is too high then I guess its gonna happen more and more. It's happened a couple of time over the last week or so to us. Borrowers are given a rate prior to the loan being put on the market. This rate is fixed, irrespective of the lender rates that are then needed to fill the loan. The borrower doesn't then pay a higher rate depending on the lender rates available. Of course the borrower could still choose to not complete on the loan for a variety of reasons.
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Post by cinereus on Nov 1, 2019 17:08:47 GMT
Showing £2.4M at 5.1% to borrow! Must be a bug surely?
I've never seen such a huge single borrower order.
Breaking through the GR is important. No matter how hard RS try to suppress rates and coerce people towards 3%/4%/5%, supply and demand will ultimately win.
How many times has the GR been broken since the new products were introduced or is this the first instance?
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aju
Member of DD Central
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Post by aju on Nov 1, 2019 17:23:35 GMT
I'd check my loans haven't closed out as quickly, I bet that part of the system will not be slow - mind you if the borrowers have the option to veto the loan if the rate is too high then I guess its gonna happen more and more. It's happened a couple of time over the last week or so to us. Borrowers are given a rate prior to the loan being put on the market. This rate is fixed, irrespective of the lender rates that are then needed to fill the loan. The borrower doesn't then pay a higher rate depending on the lender rates available. Of course the borrower could still choose to not complete on the loan for a variety of reasons. I meant just that - my bad english sorry, shouldn't have spent so long playing sports and ignoring english classes at school a long time ago now ...
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Post by Deleted on Nov 1, 2019 21:14:14 GMT
How many times has the GR been broken since the new products were introduced or is this the first instance? This is the first time i think.
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