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Post by westonkevRS on Jan 22, 2015 14:11:24 GMT
It seems our finance team and Markjetibng have decided that we in Risk are finding too many agreeable borrowers, and the rates are increasing (i.e. our select group of lenders are not providing enough supply side to the market). So in their attempt to "manipulate" the markets with more liquidity, have made an offer in email today: " Capitalise on a record month for RateSetter
Dear Kevin,
Cashback offer:
> Invest an additional £5,000 and earn £50 cashback
> Invest an additional £10,000 and earn £100 cashback
Despite finishing 2014 as the biggest P2P lender in the UK we haven't rested on our laurels. In fact January is set to break all records in terms of borrower demand.
Demand that has driven lending rates up giving you the best rates for some time - for example the 1yr was at 4.1% earlier today, the highest since October 2014.
If that wasn't enough reason to invest more we are giving all our lenders the added incentive of cashback up to £100.!"
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Post by bracknellboy on Jan 22, 2015 14:16:35 GMT
westonkevRS: I've put 9k into RS since yesterday afternoon. I guess that is not going to count. Edit: and is that based on deposited or invested, or depostied and invested (I still hvae some of my new deposit not yet matched).
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Post by duncandive on Jan 22, 2015 15:57:29 GMT
I put in 5k yesterday too. I gave them a call to check that it was not covered by the offer. ONLY Funds added since the production of the Offer/email count for the 'cashback'. I was planning to add more funds anyway, so guess I will just do that asap. Plus I was also informed that the added funds would need to be invested in order to achieve the cashback. Perhaps a good way to encourage folks to stop adding funds and setting them at crazy rates of 10% etc...
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Post by geoffrey on Jan 22, 2015 15:57:49 GMT
westonkevRS: I've put 9k into RS since yesterday afternoon. I guess that is not going to count. Edit: and is that based on deposited or invested, or depostied and invested (I still hvae some of my new deposit not yet matched). According to the small print at the end of the email I received, it has to be deposited and lent out. The amount can be cumulative , and is the total deposited and lent out between 00:01 today and 18:00 on 31st Jan (if I remember rightly). I don't know if money deposited before today but not yet lent out counts towards the total, but I imagine not, as they're wanting to attract new funds. However, it creates an incentive to withdraw unlent or un-offered funds now, and re-deposit them... Don't know if anyone would be bothered for a relatively small gain, though (1%).
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Investor
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Post by Investor on Jan 22, 2015 16:22:43 GMT
Happy to sit back, wait, and watch how high the lending rate goes up at 18:01 next Saturday once this has all completed.
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spiral
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Post by spiral on Jan 22, 2015 17:08:33 GMT
The amount can be cumulative I assume they told you this as the T&Cs don't make that clear? The email states: "To take advantage of this offer, deposit at least £5,000 today."
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Post by ratrace on Jan 22, 2015 17:37:41 GMT
Going forward this lack of funds for the demand they are now getting is likely to encourage RateSetter to go after more money from the investment funds.
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Post by Deleted on Jan 22, 2015 17:44:27 GMT
so with everyone chasing after the extra 1% (once) do you think the 5 year 6.0% will drop by say 0.2% in the last week of the month and more than cancel out the 1%. I've not done the cash flow but I bet this is a zero sum gain.  Anyone like to bet? |
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oldgrumpy
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Post by oldgrumpy on Jan 22, 2015 17:49:58 GMT
Around 50K has been dropped into 6.2% in the last hour or so. Anyone waiting till next Friday to see how rates go will need to make sure any deposit is actually lent out by 18:00 on Saturday 31 Jan.
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justsaying
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Post by justsaying on Jan 22, 2015 18:03:40 GMT
I didn't receive the email so v glad I read the forum..........assume this offer applies to everyone?
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oldgrumpy
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Post by oldgrumpy on Jan 22, 2015 18:15:40 GMT
I didn't receive the email so v glad I read the forum..........assume this offer applies to everyone? Ah! Can't post url. It identifies me. Wouldn't want yorkshireman coming round my allotment to sabotage my rhubarb! Here are two screenshots. Attachments:
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justsaying
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Post by justsaying on Jan 22, 2015 19:14:54 GMT
Thanking you kindly good sir. Bl**dy love this forum!
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Post by accumul8 on Jan 22, 2015 19:18:03 GMT
so with everyone chasing after the extra 1% (once) do you think the 5 year 6.0% will drop by say 0.2% in the last week of the month and more than cancel out the 1%. I've not done the cash flow but I bet this is a zero sum gain. Anyone like to bet? bobo, it may be zero sum on the 5 year market but I have just placed £10k on the 1 year market at 4.0% (plus the 1% 28 day cashback) which is at or near the high for the last few months. Of course, the 1 year market is an artificial artefact of Rampant Sellers just like the so called monthly market as finally exposed in p2pindependentforum.com/thread/1134/demand-side-monthly-access?page=6Nevertheless, I am prepared to risk a 2 year lock-up at this rate on the assumption that general interest rates are likely to stay for a while longer and the Provision Fund is a positive feature of Really Sincere 
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agent69
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Post by agent69 on Jan 22, 2015 19:53:30 GMT
I didn't receive the email so ....... So I checked in my junk mail folder and there it was.
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agent69
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Post by agent69 on Jan 22, 2015 19:57:22 GMT
so with everyone chasing after the extra 1% (once) do you think the 5 year 6.0% will drop by say 0.2% in the last week of the month and more than cancel out the 1%. I've not done the cash flow but I bet this is a zero sum gain. Anyone like to bet? just placed £10k on the 1 year market at 4.0% (plus the 1% 28 day cashback) w Can you invest in the 1 month market and get 2.7% + the splashback?
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