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Post by Deleted on Jan 21, 2020 9:23:42 GMT
As title at 9.20 on 21/1
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aju
Member of DD Central
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Post by aju on Jan 21, 2020 10:17:00 GMT
I had my relend from 5y into the 1Y set at 5.5% which got snapped up this morning. Clearly I need to set these much higher at the moment but hey it's a good rate for me I feel. Only noticed it as I had a note that payments were coming in yesterday but was too busy to deal with it. Glad I was busy now as I probably would have set it a bit lower at the time.
I reset my relend into the 1y a bit higher, ever the optimist I guess. Lets the loan above stays around for a while, the better rates have a habit of closing down later in the week I've noticed.
edit: Actually what makes this more curious is that this money came from the 5Y into the 1Y and its the only loan in the 1Y and the order was set today. As far as I can tell the 1Y was not active but I had set the 5Y relend a while back when it was. If I'm honest I thought I had the settings all set high enough and I would just sweep repayments out of the lend order and move to the ISA side.
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Post by investor1925 on Jan 28, 2020 9:58:51 GMT
I managed to get some at 5.6% on the 21st.
It was paid back on the 24th with interest.
I then managed to get it loaned on the 27th at 4.8%. I wonder how long that will last.
RS, you're not playing fair
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woodie
Member of DD Central
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Post by woodie on Jan 28, 2020 16:42:25 GMT
Managed £500@ 5.5% and £500 @ 5.6% on the 21st only to have it repaid 3 days later.
This is not the first time and it just isn't worth the time and effort.
Will be running down and transferring to Share ISA until April and then review.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Jan 29, 2020 18:22:58 GMT
Managed 5.4% on Access last night. NB. New order, not relending of exisiting contract
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jan 29, 2020 18:39:10 GMT
Got 5.8% on access today.
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Post by gravitykillz on Jan 29, 2020 19:10:08 GMT
Got 6.7% on max !
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Feb 7, 2020 7:12:28 GMT
Have snagged full year deals up to 5.7 this week, while 5 yr languishes around mid 4s. I suppose some lenders might prefer the continuity of monthly repayments, but I'll take the lump sums whilst the rates are inverted!
Edit: just noticed this must have been going on for a while, as I haven't matched anything in 5yr for over 12 months! Pity those who only have the new-style options, and wonder how long 1 & 5 yr will remain for the rest of us.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Feb 7, 2020 7:34:23 GMT
That will be fine as long as it doesn't repay quickly - if rates are then depressed it will cost 2 months interest to pull it out, so if it lasts less than that you will have paid for the privilege of loaning RS your funds! Obviously if you're happy /able to leave it in at GR for the foreseeable that won't apply, but you will still lose the last 3 months interest when you want it back. Basically self-financing once left in for over a year, although under about 30 months Plus would be better. Apologies for seeming patronising if you already realised all that, but I didn't consider the full implications when I put some into Plus - although my break even was 2 weeks - and there may be others that have not realised.
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Post by gravitykillz on Feb 7, 2020 8:09:53 GMT
That will be fine as long as it doesn't repay quickly - if rates are then depressed it will cost 2 months interest to pull it out, so if it lasts less than that you will have paid for the privilege of loaning RS your funds! Obviously if you're happy /able to leave it in at GR for the foreseeable that won't apply, but you will still lose the last 3 months interest when you want it back. Basically self-financing once left in for over a year, although under about 30 months Plus would be better. Apologies for seeming patronising if you already realised all that, but I didn't consider the full implications when I put some into Plus - although my break even was 2 weeks - and there may be others that have not realised. Still going strong not been repaid so far. And I have faith in rs. It is a far superior operation than lending works.
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alanh
Posts: 556
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Post by alanh on Feb 7, 2020 9:27:07 GMT
That will be fine as long as it doesn't repay quickly - if rates are then depressed it will cost 2 months interest to pull it out, so if it lasts less than that you will have paid for the privilege of loaning RS your funds! Obviously if you're happy /able to leave it in at GR for the foreseeable that won't apply, but you will still lose the last 3 months interest when you want it back. Basically self-financing once left in for over a year, although under about 30 months Plus would be better. Apologies for seeming patronising if you already realised all that, but I didn't consider the full implications when I put some into Plus - although my break even was 2 weeks - and there may be others that have not realised. Still going strong not been repaid so far. And I have faith in rs. It is a far superior operation than lending works. Sorry I don't understand this. I have chunks of 5 year loans repaying all the time. There is no interest cost to withdraw the money. If it happened to only be on loan for, say, 1 month at 6.8% then I would get 6.8% for that month. I haven't paid ratesetter anything at all.
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ceejay
Posts: 971
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Post by ceejay on Feb 7, 2020 9:34:28 GMT
Still going strong not been repaid so far. And I have faith in rs. It is a far superior operation than lending works. Sorry I don't understand this. I have chunks of 5 year loans repaying all the time. There is no interest cost to withdraw the money. If it happened to only be on loan for, say, 1 month at 6.8% then I would get 6.8% for that month. I haven't paid ratesetter anything at all. I think that conversation was about the Max market, not the 5Y market.
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alanh
Posts: 556
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Post by alanh on Feb 7, 2020 10:23:26 GMT
So are you saying that RS charge for cash withdrawals? I have a max loan, it repays into the holding account, and I then get charged to withdraw that cash?
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Post by Deleted on Feb 7, 2020 10:26:09 GMT
That will be fine as long as it doesn't repay quickly - if rates are then depressed it will cost 2 months interest to pull it out, so if it lasts less than that you will have paid for the privilege of loaning RS your funds! Obviously if you're happy /able to leave it in at GR for the foreseeable that won't apply, but you will still lose the last 3 months interest when you want it back. Basically self-financing once left in for over a year, although under about 30 months Plus would be better. Apologies for seeming patronising if you already realised all that, but I didn't consider the full implications when I put some into Plus - although my break even was 2 weeks - and there may be others that have not realised. There is no charge for withdrawing repaid funds, even on Access, Plus and Max. True, there is no option to divert repayments to your holding account, but set your reinvestment rate at 8% and any repayments (including early repayments) will go into an offer at 8%. Then cancel that offer - the funds are returned to holding and can be withdrawn and no fees charged. The fees are charged only if you cash in loans. There are no fees on cancelled offers before they've lent.
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Post by carol167 on Feb 7, 2020 10:35:18 GMT
That will be fine as long as it doesn't repay quickly - if rates are then depressed it will cost 2 months interest to pull it out, so if it lasts less than that you will have paid for the privilege of loaning RS your funds! Obviously if you're happy /able to leave it in at GR for the foreseeable that won't apply, but you will still lose the last 3 months interest when you want it back. Basically self-financing once left in for over a year, although under about 30 months Plus would be better. Apologies for seeming patronising if you already realised all that, but I didn't consider the full implications when I put some into Plus - although my break even was 2 weeks - and there may be others that have not realised. There is no charge for withdrawing repaid funds, even on Access, Plus and Max. True, there is no option to divert repayments to your holding account, but set your reinvestment rate at 8% and any repayments (including early repayments) will go into an offer at 8%. Then cancel that offer - the funds are returned to holding and can be withdrawn and no fees charged. The fees are charged only if you cash in loans. There are no fees on cancelled offers before they've lent.
Interestingly, I was reading up on what happens with Max repayments and apparently - if it's less than £10 it goes into holding and waits till more is returned from Max until it's £10 or more then it dumps the total (that was in Max) back in at your designated rate.
I can attest to this because after the recent peak when I dumped in quite a bit into Max (for the first time in Max), I got about £8 quickly returned into holding - which I withdrew in amongst 5 yr paid back - as I withdraw all holding amounts.
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