aju
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Post by aju on Jan 26, 2020 23:25:50 GMT
So wasn't expecting this today on the Access market. I set an order for £150+ @ 5.4% and it actually was lent later in the day in two loans for £130+ and £20+ both at 5.5%.
Is that common, I'm guessing it is just was not expecting it to end up that way. Happy it went at > order rate though.
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rrrupert
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Post by rrrupert on Jan 27, 2020 3:59:07 GMT
Having read your post I just checked my account. I have Access set to relend at 5.2% for the last few months and nothing has been lent (I withdraw repayments once a week). But today it lent out around £300 at 5.3% on my account.
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robski
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Post by robski on Jan 27, 2020 8:16:49 GMT
Definately something odd going on with rates Either its lying or its adding 0.1% to everything
Despite it looking bad Thursday last week the rates at the weekend were pretty strong.
I am still surprised at the amount on 5 year, struggling to match at MR, but IMO thats what RS are playing to, they want people to not pay attention.
My debit card took a bit of a hammering over the weekend. Im supposed to be withdrawing, i reversed approx 2 months worth of withdrawls, I really shouldnt have been watching the rates
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Post by Deleted on Jan 27, 2020 9:52:43 GMT
So wasn't expecting this today on the Access market. I set an order for £150+ @ 5.4% and it actually was lent later in the day in two loans for £130+ and £20+ both at 5.5%. Is that common, I'm guessing it is just was not expecting it to end up that way. Happy it went at > oder rate though. I mentioned the 0.1% discrepancy in p2pindependentforum.com/post/364508/thread Like I said, another RS triumph.
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aju
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Post by aju on Jan 27, 2020 9:56:31 GMT
So wasn't expecting this today on the Access market. I set an order for £150+ @ 5.4% and it actually was lent later in the day in two loans for £130+ and £20+ both at 5.5%. Is that common, I'm guessing it is just was not expecting it to end up that way. Happy it went at > oder rate though. I mentioned the 0.1% discrepancy in p2pindependentforum.com/post/364508/thread Like I said, another RS triumph. Yeah I saw that but thought it was a one off, just thought this deserved its own thing. also I had the issue of split order which I wasn't expecting either. I think RS has had an influx of developers from Zopa perhaps! I hope not... What I didn't mention was that looking at the days lending speed I was wondering if I might get a higher rate if I adjusted it up a couple of points. Sadly by the time I had thought that and gone back in to change my order it had already scooped up my offers.
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Post by Deleted on Jan 27, 2020 10:09:12 GMT
I've had quite a few split loans recently. They've tended to be for slightly shorter terms too, so I suspect they're loans that have been sold - I guess it would be obvious from the loan details screen now I think about it.
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Post by herringbone on Jan 27, 2020 10:29:07 GMT
My only two orders on Access have both gone for 0.1% more, both in the last 3 days
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star dust
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Post by star dust on Jan 27, 2020 10:42:31 GMT
– having now got the hang of it, if you set an order, you will get your order + 0.1 percentage points. At the moment based on the rates displayed below, if you want to match immediately at the borrower’s offer of 2.9% in Access, you would need to set a rate of 2.8% I was getting rates 6.1%-6.5% in Max this weekend. I've topped up six months worth of withdrawals
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aju
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Post by aju on Jan 27, 2020 11:46:34 GMT
– having now got the hang of it, if you set an order, you will get your order + 0.1 percentage points. At the moment based on the rates displayed below, if you want to match immediately at the borrower’s offer of 2.9% in Access, you would need to set a rate of 2.8% <snipped picture> I was getting rates 6.1%-6.5% in Max this weekend. I've topped up six months worth of withdrawals Yeah I saw that a while back too, thx for linking it here it will add valuable context. I checked the loans I got yesterday, well actually it was Mrs Aju who got them, and it looks like the loans she got are as you say loan part sales - it's a guess though - One has 26 months and the other has 29 months to run. The larger of the two was a loan for just over £1000 so I just got a share of the loan. Whilst its useful to note what is happening do we think this is by RS design or do we think its an error that will get fixed sometime down the line?. I'm not sure I saw the same effect on the 1Y must check that next time I am lending on the 1 year.
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Post by herringbone on Jan 27, 2020 12:30:22 GMT
– having now got the hang of it, if you set an order, you will get your order + 0.1 percentage points. At the moment based on the rates displayed below, if you want to match immediately at the borrower’s offer of 2.9% in Access, you would need to set a rate of 2.8% <snipped picture> I was getting rates 6.1%-6.5% in Max this weekend. I've topped up six months worth of withdrawals Yeah I saw that a while back too, thx for linking it here it will add valuable context. I checked the loans I got yesterday, well actually it was Mrs Aju who got them, and it looks like the loans she got are as you say loan part sales - it's a guess though - One has 26 months and the other has 29 months to run. The larger of the two was a loan for just over £1000 so I just got a share of the loan. Whilst its useful to note what is happening do we think this is by RS design or do we think its an error that will get fixed sometime down the line?. I'm not sure I saw the same effect on the 1Y must check that next time I am lending on the 1 year. I've made a grand total of six loans on the 1yr market, all at the correct rate, and the two mentioned above at +0.1% on Access
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aju
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Post by aju on Jan 27, 2020 12:46:25 GMT
Yeah I saw that a while back too, thx for linking it here it will add valuable context. I checked the loans I got yesterday, well actually it was Mrs Aju who got them, and it looks like the loans she got are as you say loan part sales - it's a guess though - One has 26 months and the other has 29 months to run. The larger of the two was a loan for just over £1000 so I just got a share of the loan. Whilst its useful to note what is happening do we think this is by RS design or do we think its an error that will get fixed sometime down the line?. I'm not sure I saw the same effect on the 1Y must check that next time I am lending on the 1 year. I've made a grand total of six loans on the 1yr market, all at the correct rate, and the two mentioned above at +0.1% on Access I'm wondering if it's just an effect of the new markets, the old markets do not as far as I can tell have the same symptoms but I could be wrong on that one as I have not been focusing on any of this until I experienced it - am waiting for some more payments to come through for the next stab session. When the new markets started I had a bit of an experiment with them but way too early to start understanding and as I felt the rates were not really for me I stopped bothering with them. I've seen some others have had some luck but for me Access and the 1Y is the best to play with now that I am moving from 5 year as we move towards our SP years well mine at least Mrs Aju has 2/3 more years to go - must remember to make the Class 3 voluntaries again to boost Our SP's too.
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robski
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Post by robski on Jan 27, 2020 12:56:01 GMT
The new markets didnt used to do this. I had a few loans that I placed earlier and they were at the rate i set
I would also caution that its quite possible its rounding or something as well, lets face it, RS changes and accuracy is far from stellar when they play about with things
With max not showing a repayment schedule its tricky to check. Actually saying that I have some bullet loans as well in recent ones so they would be far easier to check the interest % against that listed, I may check later
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Post by gravitykillz on Jan 29, 2020 6:33:03 GMT
Not sure if it's me but something just doesn't feel right with rs now. Rates are just too good, almost every day. So their pf has fallen and either they have massively increased their lending recently or a vast majority of people are withdrawing prior to brexit and bad media coverage. Either way just feels like an unofficial red flag. I could be wrong!
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mary
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Post by mary on Jan 29, 2020 7:15:16 GMT
Not sure if it's me but something just doesn't feel right with rs now. Rates are just too good, almost every day. So their pf has fallen and either they have massively increased their lending recently or a vast majority of people are withdrawing prior to brexit and bad media coverage. Either way just feels like an unofficial red flag. I could be wrong! Sentiment is everything. That’s how humans work, if we start to think somethings wrong people start to react and then over-react and a market “crash” can happen. When it looks good everyone piles in and “bubbles” occur. As P2P is fairly small, vs other investment classes, a small bit of publicity, either way, can have an outsize effect. Rates spiked to GR + 2.7% last night. I suspect, with payday, rates will be more normal next week. If RS, or P2P in general, can survive in the long term I have no idea, but certainly we are seeing the weaker players exit. PS. This is not investment advice!
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robski
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Post by robski on Jan 29, 2020 9:05:31 GMT
I wonder if the changes made some investors more active
RS say that they were surprised more people listed on Max, yet there are clearly still plenty of non hands on investors in 5 year.
Of course i still believe there are investors who dont understand the markets and terminology RS use. I find their useage of English frankly remarkably poor. Its possibly cunning wording, but that is even worse in my opinion, financial services should be clear, either get someone able to write it in plain english, or be honest enough not to try to hide behind words.
There is for sure timing going on. I am sure people will have started to repay some loans at the end of the month, but most will set repayment to 1st of the month if its close to the end, since most employers state pay by the last day of the month.
So I agree next week should see a surge of repayments.
Im feeling less confident in RS as property loans go up in percentage of the platform. I picked up last night a load of a 9% APR and 6% fees (APR) loan. Many of the loans I seem to get now have quite high APRs, yet at the same time RS claim they had to lower the rates to attract borrowers. Maybe they should consider cheaper offices.
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