oldgrumpy
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Post by oldgrumpy on Dec 29, 2014 9:38:30 GMT
"Those evil city boy/Zurich gnome types have broken the repayment run completely. Clearly, all part of their dastardly plan;)" No, they're busy sorting, making sure mine come through first - 80% done now. I'll let them do yours and Kevin's in about half an hour. Signed The Grumpfather edit...95% through now at 10:27 all nicely tucked away in 5.9% at £70K in the queue or better. Waiting to see £400K thrashed in behind me in a few minutes. yorkshireman Yes I'm in the City....... errrr not London or Frankfurt or Peckham though edit.... oops...another £0.49 has come in edit 12:30 all lent out ... queue still around £400K, which is what it was when the big slab came in.
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Post by geoffrey on Dec 29, 2014 12:43:40 GMT
I think that counts as a confession, OG. Kev can relax, the culprit of the rate manipulation wasn't one of his employees after all -- it's all because of the slippery banana skins OG leaves lying around the place for investors to slip up on.
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oldgrumpy
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Post by oldgrumpy on Dec 29, 2014 12:51:02 GMT
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Post by westonkevRS on Jan 7, 2015 7:47:58 GMT
Even The Times 'Shadow committee' is telling you lenders to not get greedy.....
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Post by yorkshireman on Jan 7, 2015 11:52:54 GMT
Even The Times 'Shadow committee' is telling you lenders to not get greedy..... They would say that, wouldn’t they? If truth be known I bet they also advocate more personal / household borrowing in order to fuel consumer spending. It’s nothing more than the financial sector using The Times as a propaganda tool to spread more spin and bullsh*t in order to “kick the can further down the road” I think anyone accepting the current 3 and 5 year rates on RS are making a mistake. As I’ve said before, I’m still holding 5 year loans at 8% that are under 3 years old. If the market can drop from 8% to under 6% in that time why shouldn’t it return to those levels within the next 3 years?
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oldgrumpy
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Post by oldgrumpy on Jan 7, 2015 12:19:39 GMT
"I think anyone accepting the current 3 and 5 year rates on RS are making a mistake. As I’ve said before, I’m still holding 5 year loans at 8% that are under 3 years old. If the market can drop from 8% to under 6% in that time why shouldn’t it return to those levels within the next 3 years?"
I agree in the main with Mr Yman, but my attitude is that although some of the old rhubarb is still in portfolios at 8%, I do still take five year at around 6%. The reason is that I feel I have been forced into this by the government/banks sub 1% policy which guarantees everyone a profit (or a good deal, and that means borrowers) except me. RS rates may well return to 8% within the next three years, but the banks and building societies from which I have escaped are more unlikely to, so I shall still be better off than being with them, and will say "good luck, lad" if yorkshireman then hurtles in later at 8% with his cool million.
PS Hey, is there any chance that Yorkshire nouse can persuade the stock market that it is well overpriced (just for a week or two!) because I am about to pick a fund or three to in which to deploy my Nisa.
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Post by yorkshireman on Jan 7, 2015 17:28:15 GMT
PS Hey, is there any chance that Yorkshire nouse can persuade the stock market that it is well overpriced (just for a week or two!)
Nah then, I’m not a city boy, you know!!!
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trevor
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Post by trevor on Jan 7, 2015 19:20:02 GMT
PS Hey, is there any chance that Yorkshire nouse can persuade the stock market that it is well overpriced (just for a week or two!)
Nah then, I’m not a city boy, you know!!! On Dec 26th I said "I notice that RS is advertising extensively. If this brings in more lenders then I think we may have seen the last of 6.0% for some time. Those with money waiting for 6.1% or more are going to wait a long time!"
Now I reckon if you waiting for 6.0% don't hold your breath!
I reckon there is more money going into FC, getting the higher rates is now far more difficult than before Xmas and the last loan released by SS went in hours. There's a lot of people jumping on the ban wagon
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Post by davee39 on Jan 7, 2015 19:29:52 GMT
I reckon there is more money going into FC, getting the higher rates is now far more difficult than before Xmas and the last loan released by SS went in hours. There's a lot of people jumping on the ban wagon
More likely that the hard working employees joined most of the country in an unnecessary two week shutdown, while loan repayments just keep rolling in (except at FC where they also take an unauthorized break). Still more than happy with 5.8%, and increasingly skeptical about platforms paying 12%.
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Post by GSV3MIaC on Jan 7, 2015 20:12:39 GMT
The total FC loan volume in the last two weeks (added together) was 6.9M, which is less than the previous week, and only just over half the November 24th peak week .. meanwhile repayments kept rolling in (albeit late), I doubt there was a major influx of new cash .. or at least, that is not required in order to explain the reduced rates.
I'm still not clear if the numbers FC report in the blog include the 'whole loans' as well at the ones going to auction... I guess I could check against the loan book and see,
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Post by pepperpot on Jan 7, 2015 21:41:27 GMT
The total FC loan volume in the last two weeks (added together) was 6.9M, which is less than the previous week, and only just over half the November 24th peak week .. meanwhile repayments kept rolling in (albeit late), I doubt there was a major influx of new cash .. or at least, that is not required in order to explain the reduced rates. I'm still not clear if the numbers FC report in the blog include the 'whole loans' as well at the ones going to auction... I guess I could check against the loan book and see, I've just totted up my unofficial daily accumulator of new loans listed on FC, and the peak week Nov24 - 28 reads as just over £7.3m listed on the partial market. I only note down what I see so it's open to fluctuation (early takers / loans being pulled etc) but definitely didn't miss the difference of nearly £5m to what FC report in the blog. Must be whole loans, as other weeks are out by a similar margin.
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agent69
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Post by agent69 on Jan 7, 2015 22:15:43 GMT
Even The Times 'Shadow committee' is telling you lenders to not get greedy..... If the market can drop from 8% to under 6% in that time why shouldn’t it return to those levels within the next 3 years? That was my cash ISA thinking a few years ago. Why invest in a 5 year ISA at 5% when rates might go up in a year or two. So I just went for the 3% 2 year jobby. So this year instead of getting 5% on the 5 year ISA I am getting 2% on a new 18 month deal. Your theory is fine if the rates go up, but what happens if they don't?
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Post by yorkshireman on Jan 7, 2015 22:51:37 GMT
If the market can drop from 8% to under 6% in that time why shouldn’t it return to those levels within the next 3 years? That was my cash ISA thinking a few years ago. Why invest in a 5 year ISA at 5% when rates might go up in a year or two. So I just went for the 3% 2 year jobby. So this year instead of getting 5% on the 5 year ISA I am getting 2% on a new 18 month deal. Your theory is fine if the rates go up, but what happens if they don't? I take the point but I’m not comfortable tying up money for 5 years at less than 6% although if rates touch 6.5% + or the 3 year market hits 5% I will put money back into Ratesetter.
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Post by GSV3MIaC on Jan 8, 2015 9:58:33 GMT
The total FC loan volume in the last two weeks (added together) was 6.9M, which is less than the previous week, and only just over half the November 24th peak week .. meanwhile repayments kept rolling in (albeit late), I doubt there was a major influx of new cash .. or at least, that is not required in order to explain the reduced rates. I'm still not clear if the numbers FC report in the blog include the 'whole loans' as well at the ones going to auction... I guess I could check against the loan book and see, I've just totted up my unofficial daily accumulator of new loans listed on FC, and the peak week Nov24 - 28 reads as just over £7.3m listed on the partial market. I only note down what I see so it's open to fluctuation (early takers / loans being pulled etc) but definitely didn't miss the difference of nearly £5m to what FC report in the blog. Must be whole loans, as other weeks are out by a similar margin. I concur, having checked the loan book, my own note of listings, etc. So not only do they report ones they cancel, ones not taken up, the government's 10%, etc, they are also including ones that 99% of us can't even bid on. I guess it's an interesting number for borrowers, less so for lenders.
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Post by goldservice on Jan 8, 2015 10:06:09 GMT
So, it's "are FC rates being manipulated down?" now?
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