ashtondav
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Post by ashtondav on Dec 16, 2019 18:11:28 GMT
How can there be lender offers in Max at 6.2% and above when the GR has never been 5.7%. I thought the highest its been is 5% therefore 5.5% must be the highest rate?
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Post by Deleted on Dec 16, 2019 18:15:22 GMT
How can there be lender offers in Max at 6.2% and above when the GR has never been 5.7%. I thought the highest its been is 5% therefore 5.5% must be the highest rate? See para 6.3: If you choose to lend at a rate which you set (“Your Rate”), the rate can be set up to a maximum of 5% above the Going Rate on each product. For example, if the Going Rate is 3.5%, you’ll be able to set your rate up to 8.5%. The minimum rate you can set is 0%.
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ashtondav
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Post by ashtondav on Dec 16, 2019 18:20:17 GMT
doh! thought it was 0.5%. Thanks and apologies for thickness.
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sl75
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Post by sl75 on Dec 17, 2019 9:32:03 GMT
In addition, there are offers (and re-investment orders) that were set up when GR was 5%, allowing rates to be set up to 10%...
... and any offers in Access appear at their true rate +1% in the Max list of offers, and themselves include some historic offers (or re-investment orders) from before the change from "Rolling" to "Access". e.g. there appear to be a cluster of offers in Max at 11.0%, but most of these are likely to be old "Access" orders at the previous max of 10%... and there still appear to be some even higher ones, presumably created before the 10% max rate was imposed.
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Post by tmn on Dec 27, 2019 13:02:22 GMT
I've got money in max and there is still something I can't work out.
I had money invested at 5%. When it got repaid I decided to try and raise the rate to 5.2 for both 'Set your rate' and the reinvestment rate.
However, I see that the money has been lent out again at 5%.
Does anyone know why that is?
I raised the question with ratesetter and they said that is how it is suppose to work. However, it doesn't make sense or am I missing something?
thanks
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ashtondav
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Post by ashtondav on Dec 27, 2019 15:01:55 GMT
If you edited the reinvestment option to 5.2% and it could not be lent out at 5%. Either it was lent milliseconds before your edit or you didn't go through the whole of the tedious editing/confirming process. Have you checked that reinvestment is now at 5.2%.
Either way RS CS resonse was patheticly unhelpful.
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Post by tmn on Dec 27, 2019 15:41:01 GMT
Both options are now currently at 5.2%
If they are at 5.2% then any new lending must be at 5.2% regardless of what I had set before - is that correct?
thanks
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aju
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Post by aju on Dec 27, 2019 17:13:51 GMT
Both options are now currently at 5.2% If they are at 5.2% then any new lending must be at 5.2% regardless of what I had set before - is that correct? thanks I think that is correct but the operative term in your statement is "New lending" If you really want to be sure you are in control then set it much higher. It does mean you have to be more proactive but at least it goes out with the rate you want. What I tend to do is just pop in and check each day or better still you could set an email to tell you when the next block of returned funds will come in. In the case of returns there is a slight alignment slip with what RS says should come in and when it comes in on a given day. As far as I can tell the "Repayments by month" lists will switch at 00:01am but the actual funds may not arrive until later in the day - assuming all runs are not delayed further. Edit: Was Max set at GR which I think until recently was 5% so if you use GR and old MR, I've never used either, does it remain set at 5.0% rather than using GR as a rate. I think it must be otherwise you might not have noticed the rate change and if it was reduced as it was recently you may have a case against RS for setting a lower rate. I'm not sure as RS usually have this stuff locked down. I may be wrong here as in the event of a rising GR then one might be hacked off if lending at lower rates then. If you set your own rates it will use them of course.
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