sl75
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Post by sl75 on Oct 7, 2019 14:40:26 GMT
After an hour later, all matched below the going rate. Let's see how long it takes to match my "going rate" I'll make a bold prediction of 2-3 days.
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benaj
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Post by benaj on Oct 7, 2019 14:44:33 GMT
After an hour later, all matched below the going rate. Let's see how long it takes to match my "going rate" I'll make a bold prediction of 2-3 days. If that's the case, effective rate for Access should be less than 3% if lending just 30 days.
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sl75
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Post by sl75 on Oct 7, 2019 14:55:08 GMT
I'll make a bold prediction of 2-3 days. If that's the case, effective rate for Access should be less than 3% if lending just 30 days. Very few loans are for just 30 days - unless you use the "Release Your Investment" function, you're locked into the matched rate for the duration of the underlying loan, which can be up to 5 years.
The mechanisms it used when it was called "Rolling" were based on an older system that was intended to match money for just 1 month at a time.
I don't know whether the new name has come with a new matching system that properly shows the underlying duration and repayment schedule of the loans, or if it's still pretending that the loan gets fully repaid after 1 month (at which point your money is compulsorily re-matched to the same borrower at the same rate for another month, etc. regardless of current re-investment settings)
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benaj
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Post by benaj on Oct 8, 2019 10:05:04 GMT
After 20 hours playing with "going rate" and my "own rate", I realise own rate can be matched within an hour across all available RS markets, but going rate at the moment is unlikely to be matched within 24 hours. I will update later when the going rate is matched. Current volume piling on going rate is £5mil+, Lending volume on Monday is just < £1.3 mil.
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aju
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Post by aju on Oct 8, 2019 11:13:54 GMT
After 20 hours playing with "going rate" and my "own rate", I realise own rate can be matched within an hour across all available RS markets, but going rate at the moment is unlikely to be matched within 24 hours. I will update later when the going rate is matched. Current volume piling on going rate is £5mil+, Lending volume on Monday is just < £1.3 mil. When you say own rate do you mean the same rate as GR but just set by you or do you mean a lower rate than GR. Just curious if could elaborate with some numbers across each market say.
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sl75
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Post by sl75 on Oct 9, 2019 8:47:38 GMT
After 20 hours playing with "going rate" and my "own rate", I realise own rate can be matched within an hour across all available RS markets, but going rate at the moment is unlikely to be matched within 24 hours. I will update later when the going rate is matched. Current volume piling on going rate is £5mil+, Lending volume on Monday is just < £1.3 mil. When you say own rate do you mean the same rate as GR but just set by you or do you mean a lower rate than GR. Just curious if could elaborate with some numbers across each market say. If you check benaj 's previous few posts on this thread the comment is clearly referring to the rate just below "going rate" (e.g. 2.9% "access" or 4.9% "max")
My "own rate" (which is rather higher!) hasn't been matched for months in 5 year, although I have recently lowered it a bit; it remains to be seen whether it'll be matched later this month, or the equivalent "own rate" in "Max".
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benaj
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Post by benaj on Oct 9, 2019 9:17:07 GMT
When you say own rate do you mean the same rate as GR but just set by you or do you mean a lower rate than GR. Just curious if could elaborate with some numbers across each market say. If you check benaj 's previous few posts on this thread the comment is clearly referring to the rate just below "going rate" (e.g. 2.9% "access" or 4.9% "max")
My "own rate" (which is rather higher!) hasn't been matched for months in 5 year, although I have recently lowered it a bit; it remains to be seen whether it'll be matched later this month, or the equivalent "own rate" in "Max".
I mentioned all markets previously, including 5.3% in the traditional market. Cumulative lending this week exceeds £7.7Mil, but my "going rate" order placed on the 7th Oct is yet to be matched. 6.4Mil piling on "going rate".
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aju
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Post by aju on Oct 9, 2019 11:39:05 GMT
If you check benaj 's previous few posts on this thread the comment is clearly referring to the rate just below "going rate" (e.g. 2.9% "access" or 4.9% "max")
My "own rate" (which is rather higher!) hasn't been matched for months in 5 year, although I have recently lowered it a bit; it remains to be seen whether it'll be matched later this month, or the equivalent "own rate" in "Max".
I mentioned all markets previously, including 5.3% in the traditional market. Cumulative lending this week exceeds £7.7Mil, but my "going rate" order placed on the 7th Oct is yet to be matched. 6.4Mil piling on "going rate". I had read all the threads previously but to be honest I assumed that benaj was suggesting above the GR or the GR as below the GR is IMHO going to get one to the head of the queue the way the rates are at present - well that's what the lending rates I've seen suggested and in my test cases has proven it lends in less than 2 hours. In the new models i'd expect to get better than the so called GR but only when things settle a bit unless RS has changed the engine completely which I think they have but its not clear. The amount of lend does seem to have reduced week on week but since they have stopped displaying the rate trend date along with the other data it harder to gauge exactly. As for the GR sitting with 6.4M then IMHO its probably going to take at least 2 days or more. I'm not convinced that there aren't faults and anomalies in their new lending engine code. I'll give it a month or two until the rates on 5Y make it less viable for me. The new products for me are a bit like a bank but with too many risks for those rates. One thing I will say is that the engine has only had 5 days and if there were not faults in it bearing in mind they tested it on much smaller data I'm sure then it would be a minor miracle. Its probably going to need tweaks for while again IMHO
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Post by propman on Oct 9, 2019 16:51:12 GMT
All depends if demand lifts (partially dependent on what the APR is, has the difference been sucked up by RS / PF or are they actually offering cheaper loans?), or significant funds are withdrawn. In June this happenned at 5.2% in 5yr market, maybe people are more cautious in borrowing as Brexit deadline approaches? Otherwise it may just be that people at MR only check occassionally and so don't realise they are not lending at the 5.6% MR they were getting.
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aju
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Post by aju on Oct 9, 2019 17:16:05 GMT
All depends if demand lifts (partially dependent on what the APR is, has the difference been sucked up by RS / PF or are they actually offering cheaper loans?), or significant funds are withdrawn. In June this happenned at 5.2% in 5yr market, maybe people are more cautious in borrowing as Brexit deadline approaches? Otherwise it may just be that people at MR only check occassionally and so don't realise they are not lending at the 5.6% MR they were getting. The MR and the GR are independant aren't they - I'm guessing at some point they might merge - to be honest I've only ever lent at MR once in the earliest days of using RS when I put money in via debit card and did not realise it would lend out of its own accord - I think thats what happened or pressed the wrong button!. Since then I've never really studied MR.
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benaj
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Post by benaj on Oct 10, 2019 15:24:10 GMT
My "going rate" is yet to be matched after 72 hours. Cumulative lending this week exceeds £11.9 mil
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Post by propman on Oct 10, 2019 15:36:36 GMT
My "going rate" is yet to be matched after 72 hours. Cumulative lending this week exceeds £11.9 mil Was the "Going rate" concerned actually MR on 1 or 5 years? if so, has this subsequently decreased and did your Offer reset to this lower rate? If so, you will now be behind all new MR money at the lower rate.
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benaj
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Post by benaj on Oct 10, 2019 15:54:24 GMT
My "going rate" is yet to be matched after 72 hours. Cumulative lending this week exceeds £11.9 mil Was the "Going rate" concerned actually MR on 1 or 5 years? if so, has this subsequently decreased and did your Offer reset to this lower rate? If so, you will now be behind all new MR money at the lower rate. I submitted orders 3 days ago on Access / Plus / Max @ going rate 3% / 4% / 5% to test new products. Nothing matched yet. PS. new money - not reinvestment orders.
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aju
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Post by aju on Oct 10, 2019 16:11:02 GMT
Looking back and the fact benaj say GR then I think they are meaning the new products the thing is I reckon the new lending queues are getting bigger not smaller. The new market queue it sitting at 6.5M at the GR levels, in the old 5Y there is 4M sitting at 5.4%. The thing is I wonder if this is why the old Queue position option has been withdrawn so you can;t see your position. Trouble is I would be miffed if I was lending at GR and not getting lent out for the time benaj is experiencing. I can't believe it's a lack of borrowing I think its a queue feeding issue that RS probably needs to fix pretty damned smartish. I'm still using hte 5Y rather than the Max but I did experience things like benaj did earlier in the week when I dropped to 0.1 below the 3.0% in my case. it lent out very quickly but it was just a test i'll not normally be lending below my TSB bank rates in a hurry the risk is to difficult to make it fit. I know the new queues are a sum of the old one for the new products but it does feel like they are bottlenecking perhaps - maybe this is correct and playing the new markets is not going to be possible. At least it means I can just sit back for the week and then pick and chose at the weekend. "Bring back the old where am I in the queue view on my loans" please sooner rather than later. Mind you I wonder how many people would be ditching if they could see that and worse how on earth would they split it for a grouped queue anyway.
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aju
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Post by aju on Oct 10, 2019 16:17:20 GMT
Was the "Going rate" concerned actually MR on 1 or 5 years? if so, has this subsequently decreased and did your Offer reset to this lower rate? If so, you will now be behind all new MR money at the lower rate. I submitted orders 3 days ago on Access / Plus / Max @ going rate 3% / 4% / 5% to test new products. Nothing matched yet. PS. new money - not reinvestment orders. That's an interesting thought although for relend I'm not sure anyone would have true relend as yet in the new markets would they?. It would be nice if you could see the old queue position again perhaps.
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