oldgrumpy
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Post by oldgrumpy on Feb 12, 2015 18:29:06 GMT
Oy!! yorkshireman !!!
'ave you an' the lad's taken out all them city boy's wot you go on about? You ain't dun Kevin in 'ave yer?
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Post by p2plender on Feb 12, 2015 19:14:56 GMT
BIG r/s cock up the old cashback. A truly big back fire.
6.7% now!
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jonbvn
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Post by jonbvn on Feb 12, 2015 19:19:29 GMT
BIG r/s cock up the old cashback. A truly big back fire. 6.7% now! Cash back coupled with pensioner bonds look like the main culprits. Anyway topped up by debit card & placed money in tranches all the way up to 8.0%. Interested to see what the morning brings.
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c88dnf
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Post by c88dnf on Feb 12, 2015 19:53:01 GMT
BIG r/s cock up the old cashback. A truly big back fire. 6.7% now! Huh? RS make their money from borrowers, not lenders. The more money they shift, the better for them. In January they broke all records. In February they are still on a roll, looking at the current amount of loans going out. For RS, the rate is only relevant if it goes too high, meaning borrowers go elsewhere, or so low that lenders disappear. I don't see much sign of the latter happening.
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Steerpike
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Post by Steerpike on Feb 12, 2015 20:07:17 GMT
BIG r/s cock up the old cashback. A truly big back fire. 6.7% now! Huh? RS make their money from borrowers, not lenders. The more money they shift, the better for them. In January they broke all records. In February they are still on a roll, looking at the current amount of loans going out. For RS, the rate is only relevant if it goes too high, meaning borrowers go elsewhere. Yes, I agree, I added money to get the 1% cashback on top of 3.8% in the one year and then added more today when the rates went up, looks like good business for RS.
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Post by westonkevRS on Feb 12, 2015 20:28:56 GMT
BIG r/s cock up the old cashback. A truly big back fire. 6.7% now! I'm not sure the cash back is to blame. It was needed because of the high loan volumes, basically the borrower suppply side was racing ahead of the lender side who needed a boost. The boost was all lent, but borrower demand has remained high and despite record levels of lender cash input it doesn't seem to be enough. It certainly isn't because there has been a lender drop off, this has continued to rise just not at the same rate as borrowing.... .... Perhaps I should decline a few more loans to balance the markets! Or maybe I should've been nicer to those dreaded "institutions"! Kevin.
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Investor
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Post by Investor on Feb 12, 2015 20:36:32 GMT
We did have a book running a few weeks ago on 'guess the rate come 15/02' however none of the reponses were optimistic enough to the level of where the final result appears to be heading. I will interrogate westonkevRS further on this tomorrow over coffee and biscuits so if anyone has any questions you wish put to him during our face to face please let me know, obviously this is assuming that Kev and/or Ratestter actually exist but for more on that you would need to read the other thread.
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Post by accumul8 on Feb 12, 2015 20:51:29 GMT
Please ask "If you, RS, decide that the monthly market is in lock-in mode due to a bank run, at what rate do monthly expiries get locked in at? Is it at the original 'monthly rate' you signed up for or does it become a market rate based on the underlying loan rates or at the last monthly rollover?". My concern is that I have had 2 monthly matches today at 4.1% (one at 03:37 and one at 14:27) and yet the official rate still says 3.4% for the monthly. I suspect that the monthlies have peaked at 4.4% today which might indicate a serious short term liquidity crisis. RS might be a bank masquerading as a P2P lender. I am still waiting for this answer in the thread about the monthly (not) market. Many thanks.
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Post by yorkshireman on Feb 12, 2015 21:26:08 GMT
Oy!! yorkshireman !!!
'ave you an' the lad's taken out all them city boy's wot you go on about? You ain't dun Kevin in 'ave yer?
No I haven’t done him in, I’m just taking advantage of current rates especially on the 3 year market. This spike couldn’t have come at a better time after that clown at the BoE said interest rates could be cut further and asset purchases expanded if negative inflation gives way to "bad" deflation. I’ve come across some bullsh*tters in my time but that takes some beating. uk.finance.yahoo.com/news/bank-act-weak-inflation-persists-110247524.htmlEtiquette prevents me from saying what I really think about that claht'ead.
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oldgrumpy
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Post by oldgrumpy on Feb 12, 2015 23:10:08 GMT
"No I haven’t done him in, I’m just taking advantage of current rates especially on the 3 year market...."
Me too, waiting for those dinosaurs at Lloyds Bank to clear a cheque they wrote and signed themselves. They'd better not "delay clearance for extra security purposes" beyond today or they'll get the rough end of my tongue.
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teddy
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Post by teddy on Feb 13, 2015 0:10:42 GMT
This spike couldn’t have come at a better time after that clown at the BoE said interest rates could be cut further and asset purchases expanded if negative inflation gives way to "bad" deflation. I’ve come across some bullsh*tters in my time but that takes some beating. uk.finance.yahoo.com/news/bank-act-weak-inflation-persists-110247524.htmlEtiquette prevents me from saying what I really think about that claht'ead. Now now, that's no way to talk about Comical Carney, the Canadian Clown.
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c88dnf
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Post by c88dnf on Feb 13, 2015 2:06:03 GMT
Me too, waiting for those dinosaurs at Lloyds Bank to clear a cheque they wrote and signed themselves. They'd better not "delay clearance for extra security purposes" beyond today or they'll get the rough end of my tongue.
Crikey - Lloyds spattered with bananas. Nasty!
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Post by bobthebuilder on Feb 13, 2015 3:48:29 GMT
Some lucky people matched at 4.3% in the monthly access market during tonight's repayment run. That's more than the last match in the one year market.
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Post by p2plender on Feb 13, 2015 7:08:59 GMT
Well if they'd left the market to itself (as they like to tell us it should be left) then perhaps lenders would have added as the rates crept up to perhaps 6.1 - 6.3. Now it seems lender's cash has been exhausted in order to fund the big surge in borrowers 2/3 weeks ago and indeed there appears a cash crunch now. Will borrowers now refuse these higher rates?
PS I still like you R/S but it did all seem panic stations 2/3 weeks ago which isn't normally your thing.
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spiral
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Post by spiral on Feb 13, 2015 9:03:59 GMT
The current peaks cannot be caused by the cashback. It is simple supply and demand. IF RS were expecting say £5m deposited during the last 4 weeks, the absolute worst that can have occurred through the cashback was that they skewed the deposits such that the money all came in around a similar time rather than more equally spread. The reality is that they probably had increased deposits during this period so without the cashback, the higher rates would have occurred sooner as the borrower demand will srill have remained high.
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