duck
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Post by duck on Mar 21, 2015 6:20:48 GMT
........ Actually back to early days of RS now which is nice and imo where it should be. Back checking my records I note that the last time I matched at the same rate (3&5 year Markets) as I did yesterday was 13/09/2012, I even flexed the plastic!
Got to say this beats the 5yr 5% / 5.1% back in May - July 2013!
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markr
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Post by markr on Mar 21, 2015 17:21:47 GMT
Got to say this beats the 5yr 5% / 5.1% back in May - July 2013!
I have a chunk in the 5 year market at 4.8%. Those were (not) the days!
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teddy
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Post by teddy on Mar 23, 2015 22:20:29 GMT
Ridiculous rates being advertised this evening from 1 year through to 5 years, but no borrowers at all, and the sky high headline rates are nowhere to be seen once you click on them.
What are Ratesetter up to?
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pikestaff
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Post by pikestaff on Mar 23, 2015 22:31:47 GMT
There ARE borrowers, and loans are being matched at these rates, but volumes are a bit down (to the levels of 3-4 months ago).
RS's problem at the moment is not enough lenders. I think this imbalance will persist until p2p ISAs come on stream, at which point rates are likely to fall sharply. Enjoy while you can...
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Post by robinshould on Mar 23, 2015 22:44:41 GMT
They must be working late! Just matched at 7% in the 5 year market. Don't think I can complain at that.
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Post by pepperpot on Mar 23, 2015 23:03:32 GMT
I've just matched at 7% too (22:11pm). Matches can be made at any time, as it's instigated by the borrower directly. pikestaff, Interesting you think it will persist till an ISA is available. I have a gut feeling it may creep down in April as March is ISA top up month, coupled with the slightly more sustainable levels of lending after the Jan/Feb new year rush bled us dry. But I agree, rates may drop when an ISA is opened, probably by at least 20% to match the average tax break . Hopefully there's an area or two of lending Kev is keeping up his sleeve to match the huge influx of ISA transfers. Actually, I hope transfers won't be allowed, at least till the market can absorb them.
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Post by westonkevRS on Mar 24, 2015 6:31:11 GMT
At these rates, it does now make financial sense to get a 1.2% mortage with fee from, for example, HSBC and pay it into the 5-yr market. Even paying tax on the income at 50% it makes sense.... This isn't advice, just to be legally clear! We have a lot of borrowing opportunities, we'll always find a way to keep the rates satisfactory. However I do think rates of 6.4% upwards is temporary for the reasons mentioned (inc. maybe the pensioner bribes bond). The rates are too high for the risk (did you see 4th way rates us the safest UK P2P platform). So enjoy the sun whilst it shines, and look forward to more partnership announcements shortly to keep borrowing high. The P2P industry has less than 3% of consumer lending in the UK so the're are plenty of opportunities for anyone that is innovative and go getting enough. In fact less than 1% when consumer secured and commercial lending are also considered. @ westonkevRS
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pikestaff
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Post by pikestaff on Mar 24, 2015 7:58:09 GMT
... pikestaff, Interesting you think it will persist till an ISA is available... Not at 7%, but solidly north of 6% with the occasional spike. I think RS have a good deal of control over borrower volumes and have been ramping up their distribution in anticipation of ISAs. For the time being, RS are probably content with 5 year rates in the 6-6.5% range, but they won't want to see them go any higher. I think ISAs will see the rate drop to between 4 and 5%. Hoping I'm wrong about that...
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Liz
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Post by Liz on Mar 25, 2015 20:56:19 GMT
Up down, shake it all around.
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Post by p2plender on Jun 24, 2015 13:05:23 GMT
That's a big single order come in at 6.8!
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jonbvn
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Post by jonbvn on Jun 25, 2015 8:23:58 GMT
At these rates, it does now make financial sense to get a 1.2% mortage with fee from, for example, HSBC and pay it into the 5-yr market. Even paying tax on the income at 50% it makes sense.... This isn't advice, just to be legally clear! We have a lot of borrowing opportunities, we'll always find a way to keep the rates satisfactory. However I do think rates of 6.4% upwards is temporary for the reasons mentioned (inc. maybe the pensioner bribes bond). The rates are too high for the risk (did you see 4th way rates us the safest UK P2P platform). So enjoy the sun whilst it shines, and look forward to more partnership announcements shortly to keep borrowing high. The P2P industry has less than 3% of consumer lending in the UK so the're are plenty of opportunities for anyone that is innovative and go getting enough. In fact less than 1% when consumer secured and commercial lending are also considered. @ westonkevRS3 months on and these "high" rates are still being matched.
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