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Post by propman on Feb 5, 2020 10:10:19 GMT
Is this happening on Max as well? I have a large number of loans shown as repaid a month after creation and some loans of the same rate and the "repayment" date, but a significantly smaller number, so inconclusive as either some relending happens or a coincidence.
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Post by Deleted on Feb 5, 2020 10:33:43 GMT
Is this happening on Max as well? I have a large number of loans shown as repaid a month after creation and some loans of the same rate and the "repayment" date, but a significantly smaller number, so inconclusive as either some relending happens or a coincidence. The Access, Plus and Max loans all work in the same way.
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robski
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Post by robski on Feb 5, 2020 16:24:10 GMT
Is this happening on Max as well? I have a large number of loans shown as repaid a month after creation and some loans of the same rate and the "repayment" date, but a significantly smaller number, so inconclusive as either some relending happens or a coincidence. The Access, Plus and Max loans all work in the same way. If they are amortising, you can also get bullet loans as well of course that don't, which you cant on 5 year. (Just adding for clarity in case anyone else comes along expecting all loans to roll over each month) I have a few 18 month bullet loans now, I didn't realise they wrote these bullet loans for that long
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Post by Deleted on Feb 5, 2020 16:45:30 GMT
Agreed. You can also get interest-only loans. It would be nice if the loan type was included in the data in the main list of loans.
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TheDriver
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Slightly bonkers
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Post by TheDriver on Feb 6, 2020 7:18:05 GMT
Are we sure these are locked, I definitely see money in holding for less than a day I'll grant you and perhaps they have fixed this recently but I definitely have done this wrongly in the past I just can't remember where/when it was I just made a mental note to avoid this next time. I only ever am relending from 5Y into the 1Y and am hitting access when the rates are good. I'm happy to accept what you say but have you actually tried it and failed, I know I made this in error quite a while ago and just put it down to my stupidity and cwap software. I'm happy to be mistaken but I'll just keep making sure I don't try to do this in case its not trapped correctly unless the rates might be in my favour of course. (Looking at the holes in screens that have been half changed on RS I'll err on the safe side I think!) Also I personally would always assume any batch processes could be held up by connected late finishing connected processes but hey I could be wrong. Perhaps I just caught the sweep in mid flow and managed to re-route it before it was trapped who knows. I wonder if this confusion is between the rolled-over portion of the loan (which "re-lends" at the same rate and I've never seen in holding) and the monthly repayment which accrues in holding until over £10 when it is swept onto the market at the rate you have selected?
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savernake
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Post by savernake on Feb 12, 2020 13:08:21 GMT
Its been a few years since I invested in RS. I've decided to return with a fistful of money I've just withdrawn from LW, and I'm trying to work out the best way of investing in the new products. I would like to have fee-free access to my money so obviously the Access product looks the most suitable. However, I'm also reluctant to accept the pathetic 3% GR offered for this product. So instead of putting my money into Access, could I put it into Max instead at a higher rate, set my re-investment settings to a ridiculously high rate, and then cancel the order to get all my money back fee-free each month? Does the Max product recycle the whole loan (capital and interest) each month like the Access product appears to do, or do you risk having your capital locked away for up to 5 years? Sorry if this seems like a dumb question to all you seasoned Ratesetters, but I'm effectively a newbie again on RS since they changed all the products, and there isn't much information on their website to help me understand how the loans work.
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alanh
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Post by alanh on Feb 12, 2020 13:29:36 GMT
Your max strategy would work but then you are only getting monthly instalments and early repayments back early.
Alternatively, if you are patient you can take advantage of rate spike on the access accounts (in fact, on all accounts) that happen from time to time. For example a couple of weeks ago the access rate spiked up and you could easily get 5.5%+ (5.8% was my highest) over a few days. I seem to spend most of my time these days shifting money between RS and AC. At the moment all the RS repayments are going into AC QAA or 30DAA, then when the RS rates next spike up I will do the opposite.
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Post by dan1 on Feb 12, 2020 13:36:07 GMT
Its been a few years since I invested in RS. I've decided to return with a fistful of money I've just withdrawn from LW, and I'm trying to work out the best way of investing in the new products. I would like to have fee-free access to my money so obviously the Access product looks the most suitable. However, I'm also reluctant to accept the pathetic 3% GR offered for this product. So instead of putting my money into Access, could I put it into Max instead at a higher rate, set my re-investment settings to a ridiculously high rate, and then cancel the order to get all my money back fee-free each month? Does the Max product recycle the whole loan (capital and interest) each month like the Access product appears to do, or do you risk having your capital locked away for up to 5 years? Sorry if this seems like a dumb question to all you seasoned Ratesetters, but I'm effectively a newbie again on RS since they changed all the products, and there isn't much information on their website to help me understand how the loans work. Basically, you have the right idea. You can withdraw the interest and repaid capital from amortising loans daily, if you wish. Max operates the same as Access and Plus on a loan level, the only difference is the rate and access fees. I'd recommend you drip-feed funds because otherwise you may end up with all your cash in an interest only loan. It's safest to assume you may not get access to any of your deposited money for 5 years... a liquidity crisis would only allow you to withdraw repayments and a credit event may lead to claw back of your interest and possibly even capital. If you're patient then wait for the rate spikes, not guaranteed but have happened fairly often over the last year or two. I'd expect RS to be flooded with cash come the ISA season.
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savernake
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Post by savernake on Feb 12, 2020 14:11:19 GMT
Thanks for the advice. so it looks like the 'rate spikes strategy' on Access is the way to go. The only downside, as I see it, is the risk of having your funds sitting in the holding accounts earning nothing for a while.
I thought I'd take a look at the rates history to get an idea of the frequency of these spikes, but it now appears the graphs that used to show this data have disappeared from the RS website!
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aju
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Post by aju on Feb 12, 2020 14:54:31 GMT
Thanks for the advice. so it looks like the 'rate spikes strategy' on Access is the way to go. The only downside, as I see it, is the risk of having your funds sitting in the holding accounts earning nothing for a while. I thought I'd take a look at the rates history to get an idea of the frequency of these spikes, but it now appears the graphs that used to show this data have disappeared from the RS website! The graphs I think you are referring to are here. Whilst you cannot see max and plus as they are not catalogued you can see access. Its not that helpful though as they are cataloguing averages rather than spikes. One of the techniques is to keep an eye on the "wall" values for the Access product all 3 new ones use same levels just the "wall" is set at different positions. A technique I use is to set my invest level at a punt/guess point. So at the moment say I would set my investment at 6%, recently I think its been possible to get near this level, keep an eye on the levels every few days - there are forum entries that state when things are getting free and easy - I tend to go into the lending screens - one can see where the positions are but also see where the offer rates are within a given level too. The longer you keep your amount in the queue the nearer it will get to the next burst level. The weekends do tend to be a pinch point sometime but RS does seem to be getting better at keeping the wall furnished. That said there are still ways to play the system you may just have to wait longer. Good Luck. Edit1: I was writing that in sequence but got distracted by politics for a bit so I agree also with what dan1 said too. It is a bit of a lottery sometimes but there are opportunities if you spend a little time reviewing things. There are still tools in there if they haven't removed them. Edit2: Is it me or have RS fixed the "wall" positioning it seems to sit on 3.0, 3.5, 4.0 exactly or is it just me mistakenly seeing it in a different position other days. I don't pay a great deal of attention to it usually as I'm punting other rates rather then lending at those low rates most of the time anyway. Edit3: One way to see where you are in a given queue is to use the £Full market rate" not the one shown in the initial 3 way product screen. The "Full Market Rate" link are at the bottom of the 3 way screen. Once the FMR has been displayed on the left side on a desktop running chrome, then go to your investment screen and click on the red pen to see the "Unmatched Orders screen for Access" on this screen you will see your order click the red pen and you will see your full order and the amount that is in front of your order. In my case I am sitting at 5.6% in the 1Y and am actually 4k below the value in the FMR screen meaning I am somewhere near the middle of the queue relative to the 57.4k that is in that position. Hopefully that makes sense if you can get to it by my definition!.
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ashtondav
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Post by ashtondav on Feb 12, 2020 15:28:51 GMT
And best make hay while it lasts as in just 2 months we will be hit with the annual deluge of "dumb money" ISA flood, reducing rates until summer...
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aju
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Post by aju on Feb 12, 2020 15:34:47 GMT
And best make hay while it lasts as in just 2 months we will be hit with the annual deluge of "dumb money" ISA flood, reducing rates until summer... Asumptions, asumptions, assumptions... I hope you are wrong but I fear you are not, time will tell. I'm also playing the 1Y as well in my latest strategy so I am feeding the 1Y more than the Access but i get a stab every few days watching two screens in the corner of my eye - hopefully RS doesn't notice and defend My reloader extension in chrome its working overtime some days when I have funds to lend out. I'm getting better at it though. The beauty of Access is that I can pull funds quickly and move into 1Y when it boils over - although so far I've not done that as rates are in high zones. I set my access relend higher than I am expecting in case the loans close early and rates are not that great I can just move to 1Y anyway. (I am happy with the 1Y and am moving all 5Y across too).
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ashtondav
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Post by ashtondav on Feb 12, 2020 18:20:25 GMT
Damn, I hate being out of 1 year. Of course in that market no flood of dumb ISA money!
Meanwhile 5 year festers like a ripe bunion...
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Post by bernythedolt on Feb 13, 2020 2:00:45 GMT
[…] I'm effectively a newbie again on RS since they changed all the products, and there isn't much information on their website to help me understand how the loans work. I agree, and you have to ask why. You'll also find far fewer of the old helpful notification emails you used to receive, like when loans are paid back early, or loans have been matched. The sort of information that helps you as an investor monitor your account properly. RS no longer thinks those are appropriate and have removed most of them. I *think* you can still get 'loan matched' emails for new money going in, but again nobody seems quite sure and website info is scant to non-existent, as you're finding. The feeling on this board is the new RS would much prefer you leave everything to them now, leaving your money at their Going Rate. And RS do everything they can to direct things that way. You can no longer have repayments sent to your holding file, they want them loaned straight back out, so you have to manufacture a workaround (like setting the reinvestment at a higher rate... and then lose income while you potentially forget about it, or don't even know it's there... unless you're willing to be regular hands-on monitoring). Changing the rate to something you require is now a rigmarole involving hunting down a tiny icon and knowing the correct order in which to press and click the right combination of items. Like playing a fruit machine. Get it wrong - easily done apparently - and some have found their money being loaned at rates they weren't intending. So tread carefully at first, perhaps with small punts of a tenner a time, until you've learned the ropes. I think you'll find the interface not as intuitive as you last remember it. Fair play to the determined few on this board who are willing to work (daily?) to achieve those sensible rates that come anywhere near offsetting the P2P risks. (Luckily I'm finished playing that game now: I think it's fair to say every change RS has made has been detrimental to the way I used to operate my account, but good luck and each to his own!)
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Feb 13, 2020 15:59:25 GMT
Damn, I hate being out of 1 year. Of course in that market no flood of dumb ISA money! Hmmm, I hadn't thought of that. Yay!
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