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Post by Deleted on Apr 1, 2020 10:13:41 GMT
We know that. But not the ones that see the shiny advertisements. Also: SSON is up 13% today, was 17% at times; that one invests in small and mid sized companies. Somebody seems to think, these companies are safe (in a way). Is that logical? You have to understand what Smith calls "small and mid-sized"
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Post by Deleted on Apr 1, 2020 10:15:20 GMT
Chris from AC made an interesting comment on a different thread yesterday. Interest rates going negative at banks may cause people looking for alternatives.
I agree interest rates will go negative I agree that people will look for alternatives
But only the dumb would put more than 5% in P2P, on the other hand given that most of the loans across P2P will be to people who are running out of cash, only the dumb would lend via P2P at anything like 6%. I suspect the likes of AC will be dropping their account numbers and anyone stuck in loans at 12% will be told to go whistle.
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r00lish67
Member of DD Central
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Post by r00lish67 on Apr 1, 2020 10:30:52 GMT
Chris from AC made an interesting comment on a different thread yesterday. Interest rates going negative at banks may cause people looking for alternatives.
I agree interest rates will go negative I agree that people will look for alternatives
But only the dumb would put more than 5% in P2P, on the other hand given that most of the loans across P2P will be to people who are running out of cash, only the dumb would lend via P2P at anything like 6%. I suspect the likes of AC will be dropping their account numbers and anyone stuck in loans at 12% will be told to go whistle.
I'm less sure about this, at a retail level at least. I noticed yesterday that instead of cutting significantly in line with BoE as I had expected, Investec have instead relaunched their Notice Plus account at the same rate. I really like this account btw - 1.6% interest with 90-day notice, FSCS protected - the same rate as the leading 1-year fix at present. My inkling (and it just an inkling) is that in the medium-term interest rates might actually lift, but unfortunately be accompanied by higher inflation too. Then there's the fundamental problem of negative interest rates for retail savers. Why would they bother having an account at all? Stick it under the mattress. In reality, I'm sure banks will be able to cobble together enough revenue elsewhere to at least keep retail rates at a big fat 0%. Will be 'interesting' if I'm wrong though, investing in patrolling security firms might be a good bet!
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corto
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one-syllabistic
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Post by corto on Apr 1, 2020 10:36:27 GMT
Chris from AC made an interesting comment on a different thread yesterday. Interest rates going negative at banks may cause people looking for alternatives.
I agree interest rates will go negative I agree that people will look for alternatives
But only the dumb would put more than 5% in P2P, on the other hand given that most of the loans across P2P will be to people who are running out of cash, only the dumb would lend via P2P at anything like 6%. I suspect the likes of AC will be dropping their account numbers and anyone stuck in loans at 12% will be told to go whistle.
I'd agree. Yet, not long ago there was a discussion about the 10% FCA limit. In that context I got the idea that quite a few posters had significantly more than 10% in p2p.
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r00lish67
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Post by r00lish67 on Apr 1, 2020 10:48:54 GMT
Then there's the fundamental problem of negative interest rates for retail savers. Why would they bother having an account at all? Stick it under the mattress. In reality, I'm sure banks will be able to cobble together enough revenue elsewhere to at least keep retail rates at a big fat 0%. Ref: this. Oooer. Something I hadn't considered has just popped up in my twitter feed. Sweden to abolish cash . Argh!
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IFISAcava
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Post by IFISAcava on Apr 1, 2020 11:10:07 GMT
Then there's the fundamental problem of negative interest rates for retail savers. Why would they bother having an account at all? Stick it under the mattress. In reality, I'm sure banks will be able to cobble together enough revenue elsewhere to at least keep retail rates at a big fat 0%. Ref: this. Oooer. Something I hadn't considered has just popped up in my twitter feed. Sweden to abolish cash . Argh! Doesn't today's date have something to do with this?
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r00lish67
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Post by r00lish67 on Apr 1, 2020 11:43:26 GMT
Ref: this. Oooer. Something I hadn't considered has just popped up in my twitter feed. Sweden to abolish cash . Argh! Doesn't today's date have something to do with this? Um, maybe? 
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