TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Feb 6, 2020 8:04:42 GMT
Yes, I personally only invest in the 1 Year now. It seems reasonably easy to secure reasonable rates. I think the 1 year has been the way to go for the last few months, but the plus went to 6.5 last night, have overstretched myself a bit now on my p2p investment, but 1.45% in a bank drives me bananas... I went for some of Plus at around 6%, but stopped when I realised these might well pay back early and if the market was settled back I would either have to drop down to GR or be stuck on the market waiting for a decent rate.
|
|
savernake
Member of DD Central
Posts: 174
Likes: 142
|
Post by savernake on Feb 14, 2020 12:32:55 GMT
If you decide to sell any of your loans in Access, Plus or Max are you allowed to choose which loans to sell? I would obviously want to cash in the loans with the lowest rate first.
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Feb 14, 2020 13:09:29 GMT
If you decide to sell any of your loans in Access, Plus or Max are you allowed to choose which loans to sell? I would obviously want to cash in the loans with the lowest rate first. Nope you cant choose, but you can try to maximise your chances of the right loans being sold. The accepted criteria is the newest sell first, ignoring ones written that day. So you need to time the sales for when you have the lowest rate loans having just rolled over. Ideally the day before basically, but over a weekend it can be a few days before. If you have multiple loans the same date, then its also acceptde i think that the highest rates will be sold first, so hopefully your best and worst rates dont line up on particular days.
|
|
|
Post by carol167 on Feb 14, 2020 13:16:17 GMT
I think the 1 year has been the way to go for the last few months, but the plus went to 6.5 last night, have overstretched myself a bit now on my p2p investment, but 1.45% in a bank drives me bananas... I went for some of Plus at around 6%, but stopped when I realised these might well pay back early and if the market was settled back I would either have to drop down to GR or be stuck on the market waiting for a decent rate.
You're not charged anything for withdrawing money that has already paid back. Simply set your rate to a high rate like 7% and then cancel the orders. Your money will be returned to your holding account.
|
|
|
Post by bernythedolt on Feb 14, 2020 13:16:33 GMT
If you decide to sell any of your loans in Access, Plus or Max are you allowed to choose which loans to sell? I would obviously want to cash in the loans with the lowest rate first. Unfortunately, no. There is a way to do it, but it's a bit convoluted. Having been through this for Access some weeks ago, trying to offload my lower interest loans, I screwed it up so many times that I ending up making the following note for the future. I found out the hard way by trial and error, but this method did work for me, finally. Hope it helps you. "For Access, it sells the newest loan formed BEFORE today's date, but if there is more than one such loan sharing that date, it will select the highest loan rate and sell from that. To sell the lower rate loan (of these "ties"), you have to manipulate the contract dates. That is, sell just £10. Doing so will amend that particular loan’s contract date". I'm unsure whether this extends to the other markets. Edit: Cross posted with robski, but essentially agrees.
|
|
aju
Member of DD Central
Posts: 3,480
Likes: 917
|
Post by aju on Feb 14, 2020 13:24:13 GMT
If you decide to sell any of your loans in Access, Plus or Max are you allowed to choose which loans to sell? I would obviously want to cash in the loans with the lowest rate first. Unfortunately, no. There is a way to do it, but it's a bit convoluted. Having been through this for Access some weeks ago, trying to offload my lower interest loans, I screwed it up so many times that I ending up making the following note for the future. I found out the hard way by trial and error, but this method did work for me, finally. Hope it helps you. "For Access, it sells the newest loan formed BEFORE today's date, but if there is more than one such loan sharing that date, it will select the highest loan rate and sell from that. To sell the lower rate loan (of these "ties"), you have to manipulate the contract dates. That is, sell just £10. Doing so will amend that particular loan’s contract date". I'm unsure whether this extends to the other markets. Edit: Cross posted with robski , but essentially agrees. Clever Idea bernythedolt , I must try and remember it. I used a similar approach in recent Zopa sales to try and limit loan sales covered by Safeguard covered loans. Most of these SG loans were small relent ones not the bulk of the SG covered loans I had from when SG was active. I was quite lucky in that I removed small amount of SG loans but was also able to offload mostly non SG covers. At present I am not wanting to offload any of my loans in RS as I have kept to better rates by being more selective. I am not in Plus or Max and just moving 5Y over to 1Y and Access but I'd be dropping Zopa rates rather than my considerably better rates on RS first quite apart form the PF cover too. (Whilst still understanding that PF cover is not guaranteed and subject to change at any time.)
|
|
IFISAcava
Member of DD Central
Posts: 3,661
Likes: 2,984
|
Post by IFISAcava on Feb 14, 2020 13:31:49 GMT
If you decide to sell any of your loans in Access, Plus or Max are you allowed to choose which loans to sell? I would obviously want to cash in the loans with the lowest rate first. no - last in, first out AIUI
|
|
|
Post by Undecided on Feb 29, 2020 7:42:40 GMT
First rate spike in a while, got 4.4% on Access last night and it should go higher this weekend seeing as there is now only £1.5M in the investment queue down from £4M 2 days ago and only £67k on offer up to 4.4%.
|
|
ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
|
Post by ashtondav on Feb 29, 2020 7:53:13 GMT
4.5% snaffled yesterday. Got a wedge at 4.9 and 4.6 so fingers crossed. It’s outrageous that the uninformed are invested at 3%, but I guess it helps us!
|
|
|
Post by gravitykillz on Feb 29, 2020 7:54:42 GMT
First rate spike in a while, got 4.4% on Access last night and it should go higher this weekend seeing as there is now only £1.5M in the investment queue down from £4M 2 days ago and only £67k on offer up to 4.4%. Is this related to the recent stock market falls and the virus effect ? All investors panicking and moving into cash as no one knows what the long term effects of the virus will be ?
|
|
|
Post by Undecided on Feb 29, 2020 8:05:28 GMT
4.5% snaffled yesterday. Got a wedge at 4.9 and 4.6 so fingers crossed. It’s outrageous that the uninformed are invested at 3%, but I guess it helps us! I guess most of them don't realise and the rest haven't got time / can't bothered to keep checking the website. RS have made it a lot harder to track the spikes since they changed to the new accounts.
|
|
|
Post by Deleted on Feb 29, 2020 8:48:13 GMT
First rate spike in a while, got 4.4% on Access last night and it should go higher this weekend seeing as there is now only £1.5M in the investment queue down from £4M 2 days ago and only £67k on offer up to 4.4%. Is this related to the recent stock market falls and the virus effect ? All investors panicking and moving into cash as no one knows what the long term effects of the virus will be ? I think there is a lot moving into cash. I definitely don't see RS as cash though - there could be greater risk in RS due to coronavirus.
|
|
|
Post by gravitykillz on Feb 29, 2020 8:48:54 GMT
I think it's now time to be careful when investing. I mean what happens when these businesses applying for loans via ratesetter are hit by Corona? Will they be able to pay back their loans ? It's a big gamble. I am not investing any further funds for the time being until things stabilise.
|
|
benaj
Member of DD Central
Posts: 4,830
Likes: 1,586
|
Post by benaj on Feb 29, 2020 13:08:58 GMT
Is this related to the recent stock market falls and the virus effect ? All investors panicking and moving into cash as no one knows what the long term effects of the virus will be ? I think there is a lot moving into cash. I definitely don't see RS as cash though - there could be greater risk in RS due to coronavirus. I also see there is opportunity with the Covid-19. There might be a group of borrowers trying to get hold of those masks. I have also seen a loan being listed on a Eur P2B platform for sourcing Covid19 equipments, it seems 44 lenders are interested in that particular loan, not me.
|
|
ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
|
Post by ashtondav on Feb 29, 2020 14:11:06 GMT
4.6% snaffled up. Will I get to 4.9.?
And don’t worry about WuFlu. Most people who get it experience - flu. Most people who die are over 65 and not working and borrowing anyway. Besides we survived SARS, Ebola, Bird flu and many others.
|
|