ceejay
Posts: 971
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Post by ceejay on Feb 29, 2020 14:29:03 GMT
Most people who die are over 65 and not working and borrowing anyway. That's all right, then. As long as it isn't anyone important.
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Post by ereshkigal on Feb 29, 2020 18:00:27 GMT
Can someone help out a newbie?
Why, if my reinvestment setting on Access has been at 4+% for the last month, are loans showing up in my loan-book throughout Feb at 3.2%, 3.5% etc.? Why am I not getting the higher rate I chose or seeing funds remain "on market"?
Many thanks, E.
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Post by Deleted on Feb 29, 2020 18:16:44 GMT
Access, Plus and Max loans usually amortise each month, but show as repaid in full each month and then the remaining debt (loan minus capital repayment) shows as a new loan at the original rate.
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star dust
Member of DD Central
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Post by star dust on Feb 29, 2020 19:13:56 GMT
Can someone help out a newbie?
Why, if my reinvestment setting on Access has been at 4+% for the last month, are loans showing up in my loan-book throughout Feb at 3.2%, 3.5% etc.? Why am I not getting the higher rate I chose or seeing funds remain "on market"?
Many thanks, E.
I might be misunderstanding you, but is it new loans that you are seeing in your loan book, or ones you had last month that have just rolled over on their monthly repayment date? If you keep records of your loans you will find for the majority amortising loans while the Loan Number remains the same throughout the term, the contract numbers change each month, and the capital amount will just reduce slightly, but maybe you are thinking they are new loans?
The re-investment setting at 4% means that you will get brand new money (either newly deposited or from repaid capital and interest from existing loans) lent out at your rate (assuming there are matches at that level), but your existing loans will stay at the same interest rate they matched at throughout their underlying term. So if you had a lot of loans at less than 4% beforehand, most will still be there the following month and if you are not adding new money you will just be getting a few at 4% if the market goes that high.
In Edit: didn't realise this had already been answered - yes what @inv11 said much more succinctly!
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ashtondav
Member of DD Central
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Post by ashtondav on Mar 1, 2020 9:47:57 GMT
Yesterday got a massive wedge hoovered up in access at 4.9%
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benaj
Member of DD Central
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Post by benaj on Mar 1, 2020 10:18:25 GMT
Yesterday got a massive wedge hoovered up in access at 4.9% It seems I am still on the off list to receive communication from RS for certain market. 😑
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Post by Undecided on Mar 1, 2020 10:20:47 GMT
It seems a bit random at the moment. I got some matched loan notifications yesterday but not all.
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aju
Member of DD Central
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Post by aju on Mar 1, 2020 11:44:47 GMT
Yesterday got a massive wedge hoovered up in access at 4.9% It seems I am still on the off list to receive communication from RS for certain market. 😑 Not a massive wedge but Mrs Aju switched to Access after I read this forum yesterday and she got 5.0%, interesting thing is though and helped me decide to move funds this morning she got an email to register the matching. That's the first in a long while. I've moved some 1 year relend that wasn't really moving very well over to Access @ 5.6% and its already dropped 6k into the lower levels in the last 5 minutes or so. Not wishing to be too greedy as its only £60 but each little bit helps. I'ts scraping up 5.0% levels at the moment. (11:44) I wonder how soon the wedge is coming ... Edit (12:25) : I was juggling the offer around a little but it too about an how to get 5%, I think I might have got a bit more but I'm quite happy with 5% on Access. Not sure if the wedge will come in and blow it away today. Edit2: Just updated my spreadsheet with new loan sadly it only has 4 months remaining (Mrs aju's has 8 months) lender has quite high fees > 17% on their loan amount ≈£800.
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Post by Deleted on Mar 5, 2020 21:20:30 GMT
Access at around 3.3% currently. That's quite high given the first of the month payments came in on Monday.
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ashtondav
Member of DD Central
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Post by ashtondav on Mar 6, 2020 8:15:06 GMT
Possible wall of money building up for next month's new ISA season?
One thing's for certain and that is we will be deluged with low rates as the dumb money floods into ISAs next month. Helps RS though.
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Post by thedeadlymrmoo on Mar 6, 2020 13:09:16 GMT
As a relatively new investor in Ratesetter (Been in since Feb 2019 but the recent changes/low rates are forcing a rethink), how does the market data effectively the likelihood of a successful loan? i.e. If a good proportion is at going rate does all that money have to be exhausted before a higher rate offer can be matched?
I know this is probably a fairly noddy question but I didn't see any FAQs on it in here and some of the higher rates being quoted are sounding good. How long are you waiting to be matched at, say, 1% above base rate? Is it luck of the draw? I don't know because at the higher rates last year I was just letting it run
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Post by propman on Mar 6, 2020 15:16:42 GMT
As a relatively new investor in Ratesetter (Been in since Feb 2019 but the recent changes/low rates are forcing a rethink), how does the market data effectively the likelihood of a successful loan? i.e. If a good proportion is at going rate does all that money have to be exhausted before a higher rate offer can be matched? I know this is probably a fairly noddy question but I didn't see any FAQs on it in here and some of the higher rates being quoted are sounding good. How long are you waiting to be matched at, say, 1% above base rate? Is it luck of the draw? I don't know because at the higher rates last year I was just letting it run The rates are generally matched lowest rate first, but occassionally something has gone wrong and some lower rate money has ben "stranded" and higher rates taken. I have had reasonably frequent matches in Max at 2% above GR, but it is inconsistent. Last year there was an excess of Funds a week or so before the end of March (unused ISA allowance?) then the ISA cash that reduced rates long term.
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Post by gravitykillz on Mar 7, 2020 11:24:54 GMT
4% currently available on access. But I would wait I'm sure by tommorow evening 5% would be achievable.
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Mar 7, 2020 14:06:36 GMT
Just got some at 4.4%
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ashtondav
Member of DD Central
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Post by ashtondav on Mar 7, 2020 22:49:40 GMT
Sold out of 5 year and put it all on access at 4.9%
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