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Post by overthehill on Jun 10, 2022 16:44:52 GMT
We've seen plenty of these type of messages in P2P, Lendingworks and Property Partner spring to mind. It's all about perception rather than reality, typical management speak. Just come out and be truthful instead.
Looking at the borrower rates I'm not sure why they need to reduce lender rates at all. Call it profit taking or greed depending on your own level of cynicism.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jun 10, 2022 18:35:12 GMT
O i do miss CONNECTIVE LENDING.
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Post by df on Jun 10, 2022 20:42:22 GMT
We've seen plenty of these type of messages in P2P, Lendingworks and Property Partner spring to mind. It's all about perception rather than reality, typical management speak. Just come out and be truthful instead.
Looking at the borrower rates I'm not sure why they need to reduce lender rates at all. Call it profit taking or greed depending on your own level of cynicism.
I think they are focussing on sustainability of the business. If my reading of it is correct, it's a good news for investors who choose to stay.
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markyg61
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Post by markyg61 on Jun 11, 2022 6:14:47 GMT
It's still 7.8 - 8%. With interest rates expected to rise I imagine platform rates will also have to rise.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 11, 2022 7:50:47 GMT
It's still 7.8 - 8%. With interest rates expected to rise I imagine platform rates will also have to rise. You would assume so but then UB rates didn't drop AFAICS when rates were low. In fact aren't they the same as they've always been since launch?
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Post by Ace on Jun 11, 2022 8:13:47 GMT
It's still 7.8 - 8%. With interest rates expected to rise I imagine platform rates will also have to rise. You would assume so but then UB rates didn't drop AFAICS when rates were low. In fact aren't they the same as they've always been since launch? No, there's a thread about previous reductions here: p2pindependentforum.com/post/267384/thread
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Post by overthehill on Jun 11, 2022 9:29:27 GMT
It's still 7.8 - 8%. With interest rates expected to rise I imagine platform rates will also have to rise. You would assume so but then UB rates didn't drop AFAICS when rates were low. In fact aren't they the same as they've always been since launch?
A case of nostalgic false memory!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 11, 2022 11:00:53 GMT
You would assume so but then UB rates didn't drop AFAICS when rates were low. In fact aren't they the same as they've always been since launch? No, there's a thread about previous reductions here: p2pindependentforum.com/post/267384/threadAh yes, so they went down, & then back up again when the PF/GF got dumped, that's why they look the same as I skipped paying attention for the bit when they were different
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Post by redpete on Jun 11, 2022 20:33:54 GMT
If the rate reduction is indeed spent on borrowers marketing to allow all my idle funds to be invested then that's a good thing. I shall watch over the next few months to see if the cash drag reduces. It's not been too bad for me, although only 2 months in. Got £670 in new loans last week, and decided to put another £500 into the account (before the announcement on interest rates).
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mogish
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Post by mogish on Jun 12, 2022 7:52:58 GMT
Just checked my cash drag. Now at 14%. I can see why they need some serious marketing.
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Post by Ace on Jun 12, 2022 8:52:23 GMT
Just checked my cash drag. Now at 14%. I can see why they need some serious marketing. Across 3 accounts I manage my cash drag is currently 3.7%, 2.7% and 2.6%.
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Post by df on Jun 12, 2022 10:57:57 GMT
Just checked my cash drag. Now at 14%. I can see why they need some serious marketing. Across 3 accounts I manage my cash drag is currently 3.7%, 2.7% and 2.6%. Mine is currently 3.6%. Generally it stays within the area of 3%-4%.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 12, 2022 11:56:32 GMT
Across 3 accounts I manage my cash drag is currently 3.7%, 2.7% and 2.6%. Mine is currently 3.6%. Generally it stays within the area of 3%-4%. Briefly flirted with 4% recently, now back down to the normal sub 1%
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scooter
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Post by scooter on Jun 12, 2022 12:10:26 GMT
Mine is currently 3.6%. Generally it stays within the area of 3%-4%. Briefly flirted with 4% recently, now back down to the normal sub 1% Showing my ignorance... How do you calculate cash drag?
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Post by Ace on Jun 12, 2022 12:25:14 GMT
Briefly flirted with 4% recently, now back down to the normal sub 1% Showing my ignorance... How do you calculate cash drag? We're simply quoting the percentage our unallocated cash represents of our total funds on the platform. So, Cash balance / Total platform value * 100.
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