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Post by gravitykillz on Dec 19, 2019 8:04:40 GMT
Managed to get 4.1% on access. But not sure what queue I was in as it took over 5 hours to go on loan.
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Post by gravitykillz on Dec 19, 2019 8:07:29 GMT
However I did learn how to use the new platform better. And really they should make that little pencil a bit bigger as you can barely see it on a mobile device.
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jcb208
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Post by jcb208 on Dec 19, 2019 9:12:54 GMT
I wish they would go back to the old system far better ,easier to use and at least you know where you are in the queue
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Post by Deleted on Dec 19, 2019 9:24:24 GMT
Aside from paying a fee, is there any other prioritising done between products when using RYI? That would be the only other thing to make me interested in Access - if RYI's were prioritised even after the Plus/Max orders have paid their fee. I don't think so, no. One of the key benefits touted by RS is that Access, Plus and Max use the same 'pool' and that this will improve liquidity. For me, I don't feel the extra 1% is worth it, but it's personal choice. The spreadsheet below shows effective rate by duration when you cash in, but ignores repayments (normal and early), which I appreciate will alter things. Green shows the highest rate for each duration.
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aju
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Post by aju on Dec 19, 2019 11:08:55 GMT
I see that the 1Y has had nearly 1M poked onto it sometime since last night - I took a reading where 5.7% was sitting at just over 670k - probably was this earlier this morning.
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ashtondav
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Post by ashtondav on Dec 19, 2019 12:21:30 GMT
So why was I getting consumed in Access at 4.1% but not a nibble in max at 5.1%?
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aju
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Post by aju on Dec 19, 2019 12:47:12 GMT
So why was I getting consumed in Access at 4.1% but not a nibble in max at 5.1%? less lender offers in access I'm guessing, I haven't looked though. Perhaps you were nearer the mountain than all the others too.
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jcb208
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Post by jcb208 on Dec 19, 2019 13:02:15 GMT
Any body an answer as to why my money was matched in access last night at 4.1% and now it is back on the market.If they are going to mess around like this I will just withdraw it again,no cost to me
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ashtondav
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Post by ashtondav on Dec 19, 2019 13:05:22 GMT
So why was I getting consumed in Access at 4.1% but not a nibble in max at 5.1%? less lender offers in access I'm guessing, I haven't looked though. Perhaps you were nearer the mountain than all the others too. But why would anyone go for Max at a GR of 4% and a 1% (currently) withdrawal fee, when GR on access is 3% and quite often you can get 3.4%+?
No comprendo...
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Stonk
Stonking
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Post by Stonk on Dec 19, 2019 13:06:43 GMT
So why was I getting consumed in Access at 4.1% but not a nibble in max at 5.1%?
Timing; luck; and your precise positions in the 4.1% / 5.1% queue. Last night the nibbles were small and only occasional, and the nibbled rate varied from 4.1% to 4.3% as new money dripped in.
The markets are really just one market. For instance, it is not possible to have Access exhausting 4.1% and nibbling at 4.2% while Max has lender orders at 5.1%. If you had your two orders at 4.1% and 5.1%, then the 4.1% must have been placed earlier, and you were a bit unlucky that the nibbling didn't chomp quite far enough to hit the later 5.1% order.
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macq
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Post by macq on Dec 19, 2019 13:57:53 GMT
less lender offers in access I'm guessing, I haven't looked though. Perhaps you were nearer the mountain than all the others too. But why would anyone go for Max at a GR of 4% and a 1% (currently) withdrawal fee, when GR on access is 3% and quite often you can get 3.4%+?
No comprendo...
Not in it - but you might want to check the fee on Max/Plus as they are in days of interest rather then 1% etc so hold for about a year and i think your better off
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Greenwood2
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Post by Greenwood2 on Dec 19, 2019 14:06:04 GMT
But why would anyone go for Max at a GR of 4% and a 1% (currently) withdrawal fee, when GR on access is 3% and quite often you can get 3.4%+?
No comprendo...
Not in it - but you might want to check the fee on Max/Plus as are they not in days of interest rather then 1% etc? so hold for about a year and i think your better off If you're in it for the long haul and/or would be in no rush to get your funds out (just withdraw as available) you might as well go for the highest rate.
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benaj
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Post by benaj on Dec 19, 2019 18:19:37 GMT
As I'm, for the first time since the new products launched, considering re-entering the fray I'm just thinking out loud. Unless you think you'll need the money in a hurry, would MAX not always be the best product? I say this as MAX rates are 1.00% p.a higher than access. The access fee is 90d interest i.e. 1/4 of the going rate, so currently 1.00%. So providing you're confident that you will retain your investment for about a year (slightly less in fact as it will amortise away) then you're going to be earning a higher rate than access/plus even if you subsequently cash them in (unless the GR shoots massively upwards, which doesn't feel particularly imminent). This combined with the fact that using P2P in general as "easy access" is a bad plan in my view, that seems to steer me towards always using MAX. Agree/disagree? Aside from paying a fee, is there any other prioritising done between products when using RYI? That would be the only other thing to make me interested in Access - if RYI's were prioritised even after the Plus/Max orders have paid their fee. I prefer RS "Access", mainly because of what RS offers: - flexibility - instant top up with Debit card- 0 access fee - up-to-date interest
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ashtondav
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Post by ashtondav on Dec 19, 2019 19:02:52 GMT
As I'm, for the first time since the new products launched, considering re-entering the fray I'm just thinking out loud. Unless you think you'll need the money in a hurry, would MAX not always be the best product? I say this as MAX rates are 1.00% p.a higher than access. The access fee is 90d interest i.e. 1/4 of the going rate, so currently 1.00%. So providing you're confident that you will retain your investment for about a year (slightly less in fact as it will amortise away) then you're going to be earning a higher rate than access/plus even if you subsequently cash them in (unless the GR shoots massively upwards, which doesn't feel particularly imminent). This combined with the fact that using P2P in general as "easy access" is a bad plan in my view, that seems to steer me towards always using MAX. Agree/disagree? Aside from paying a fee, is there any other prioritising done between products when using RYI? That would be the only other thing to make me interested in Access - if RYI's were prioritised even after the Plus/Max orders have paid their fee. I prefer RS "Access", mainly because of what RS offers: - flexibility- instant top up with Debit card - 0 access fee- up-to-date interest Under normal market conditions.
We have to hope RS doesn't do an FC. With them you now need six months to a year to withdraw and a (new) fee of 1.25%. I tend to believe FC was uniquely incompetent driven by IPO greed, and are now improving, but even so why go for RS and unsecured lending when you can go for AC with secured lending and a PF?
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r00lish67
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Post by r00lish67 on Dec 19, 2019 19:02:59 GMT
less lender offers in access I'm guessing, I haven't looked though. Perhaps you were nearer the mountain than all the others too. But why would anyone go for Max at a GR of 4% and a 1% (currently) withdrawal fee, when GR on access is 3% and quite often you can get 3.4%+?
No comprendo...
The max premium moves in line with access, so for example if access is 3.4% then plus is 4.4%.
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