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Post by Badly Drawn Stickman on Mar 11, 2020 17:09:49 GMT
It seems someone have put a big lump sum to get rid / satisfy of the borrower's demand, or is it just a cashflow trick by RS? I have no idea Have they not just moved it to the access products?
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benaj
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Post by benaj on Mar 11, 2020 17:13:53 GMT
It seems someone have put a big lump sum to get rid / satisfy of the borrower's demand, or is it just a cashflow trick by RS? I have no idea Have they not just moved it to the access products? I notice that too. But now the 1 year punters who were trying to get a "delicious" slice earlier got stuck with RS for at least 48 hours for any unmatched orders.
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ceejay
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Post by ceejay on Mar 11, 2020 17:27:54 GMT
The result today was that I "matched" a wedge of the 8.3% ... it sat there for a while as "matched" and then magically became "unmatched".
Slightly less than honest, but there you go. No such thing as a free lunch after all!
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Post by Undecided on Mar 11, 2020 22:48:36 GMT
If this sort of thing keeps happening then one has to suppose that RS will just pull the plug on new loans in this market altogether. They've made it impossible to access for new lenders, or old lenders who've had their last 1Y loan repaid. They've made it difficult to access even for those few who are still permitted. Presumably there is some process which allocates borrowing to this market, and today it's gone wrong. The result will be a cost to RS, even if they do wind up cashing in and reissuing these loans. How long will they keep doing this? PS - Normal market conditions have now resumed... If you loose your 1 year account email RS and they will reinstate it (after about a month).
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macq
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Post by macq on Mar 11, 2020 23:05:57 GMT
The result today was that I "matched" a wedge of the 8.3% ... it sat there for a while as "matched" and then magically became "unmatched". Slightly less than honest, but there you go. No such thing as a free lunch after all! Maybe they have someone monitoring the forum at RS HQ
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Stonk
Stonking
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Post by Stonk on Mar 12, 2020 1:06:01 GMT
I matched at 10% on an order placed yesterday, having noticed that there was higher borrower demand than money available.
If only there were some way to set your rate above 10% ... I wonder whether it would have kept matching arbitrarily high.
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aju
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Post by aju on Mar 12, 2020 8:54:15 GMT
The result today was that I "matched" a wedge of the 8.3% ... it sat there for a while as "matched" and then magically became "unmatched". Slightly less than honest, but there you go. No such thing as a free lunch after all! Maybe they have someone monitoring the forum at RS HQ Ratesetter has not been here since mar 4th, but i think they could still be monitoring without logging in. Also they may have staffers checking on personal accounts. I wonder though its more likely they have checks built into the system monitoring rate boundaries or limits.
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Post by propman on Mar 12, 2020 9:14:13 GMT
I missed the fun, had "holding offer" at 6.9% matched so nothing left, it let me set a new offer this morning. Presumably they only "shut you out" in periodic batches!
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macq
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Post by macq on Mar 12, 2020 10:22:39 GMT
Maybe they have someone monitoring the forum at RS HQ Ratesetter has not been here since mar 4th, but i think they could still be monitoring without logging in. Also they may have staffers checking on personal accounts. I wonder though its more likely they have checks built into the system monitoring rate boundaries or limits. I thought it was about time the forum had a conspiracy theory
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aju
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Post by aju on Mar 12, 2020 14:26:22 GMT
Ratesetter has not been here since mar 4th, but i think they could still be monitoring without logging in. Also they may have staffers checking on personal accounts. I wonder though its more likely they have checks built into the system monitoring rate boundaries or limits. I thought it was about time the forum had a conspiracy theory Yeah, as if we haven't got enough to contend with the covid-19 expansion and the economic turmoil over the last few days or so. I hear the Donald no longer thinks it's a Democratic Party conspiracy either! The economic bit could be useful though as we have recently had to cancel some accomodation in the Washington/Oregon State areas for a visit in May. I'ts the one time we hope for a worse exchange rate than when we paid last July. With any luck we won't experience too much of a loss compared to the amount we might lose later if the flights are canned and we had made all the final payments etc.
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macq
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Post by macq on Mar 12, 2020 14:32:17 GMT
I thought it was about time the forum had a conspiracy theory Yeah, as if we haven't got enough to contend with the covid-19 expansion and the economic turmoil over the last few days or so. I hear the Donald no longer thinks it's a Democratic Party conspiracy either! The economic bit could be useful though as we have recently had to cancel some accomodation in the Washington/Oregon State areas for a visit in May. I'ts the one time we hope for a worse exchange rate than when we paid last July. With any luck we won't experience too much of a loss compared to the amount we might lose later if the flights are canned and we had made all the final payments etc. hopefully you can go in the fall which might be a nice time anyway
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cb25
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Post by cb25 on Mar 12, 2020 14:33:16 GMT
Ratesetter has not been here since mar 4th, but i think they could still be monitoring without logging in. Also they may have staffers checking on personal accounts. I wonder though its more likely they have checks built into the system monitoring rate boundaries or limits. I thought it was about time the forum had a conspiracy theory I suspect their action is more likely due to lenders such as myself ringing them up yesterday and saying "much as I'd like to get 8.3% for 1Yr, is this a sign (along with reports of people having to wait to release their investment) of a liquidity problem at RS?"
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macq
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Post by macq on Mar 12, 2020 15:03:42 GMT
I thought it was about time the forum had a conspiracy theory I suspect their action is more likely due to lenders such as myself ringing them up yesterday and saying "much as I'd like to get 8.3% for 1Yr, is this a sign (along with reports of people having to wait to release their investment) of a liquidity problem at RS?" And i am guessing they said of course not (pretty sure they don't allow institutional lending but wonder if that would ever change?)
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cb25
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Post by cb25 on Mar 12, 2020 15:16:07 GMT
I suspect their action is more likely due to lenders such as myself ringing them up yesterday and saying "much as I'd like to get 8.3% for 1Yr, is this a sign (along with reports of people having to wait to release their investment) of a liquidity problem at RS?" And i am guessing they said of course not (pretty sure they don't allow institutional lending but wonder if that would ever change?) I didn't get a very clear answer, just something along the lines of "perhaps investors are withdrawing money due to Coronavirus and/or getting ready for (IF)ISA investments". After the phone call I thought I might as well get a little of the 8.3%, but just after I deposited some money - with the system suggesting 8.3% as the 1yr rate (which I accepted) - the demand had gone.
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benaj
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Post by benaj on Mar 12, 2020 15:19:39 GMT
Have they not just moved it to the access products? I notice that too. But now the 1 year punters who were trying to get a "delicious" slice earlier got stuck with RS for at least 48 hours for any unmatched orders. It’s better than I expected. Money back in the bank in less than 24 hours. Better than getting a place from a e/w bet on odds on favourite, no losses at least.
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