agent69
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Post by agent69 on Jan 27, 2014 19:06:59 GMT
5 year now at 5.8%.
Seriously tempted to cash in my FC holdings and put them in Ratesetter.
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duck
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Post by duck on Jan 28, 2014 8:00:29 GMT
5 year now at 5.8%.
......... yes and I've been enjoying 4.7% 3yr as well ...... keep it quiet though!
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markr
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Post by markr on Jan 30, 2014 8:28:29 GMT
Arrgh! The 5 year is now an "easy" 5.8% and may well spike to 5.9 or more today and my holding account balance is... 78p! By the time I've got a transfer in the 1st-of-the-month repayments will be recirculating at market rate and the rates will plummet again!
Free instant funding can't come soon enough!
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Post by pepperpot on Jan 31, 2014 13:25:47 GMT
5yr market is looking tempting £250 at 5.9% and 48k at 6% with very little above it (£87k total) ... if only I could send money in quickly you beat me to it westonkevRS
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agent69
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Post by agent69 on Jan 31, 2014 19:29:46 GMT
5yr market is looking tempting £250 at 5.9% and 48k at 6% with very little above it (£87k total) ... if only I could send money in quickly you beat me to it westonkevRSLast match at 6:22pm was 6%.
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Post by westonkevRS on Jan 31, 2014 19:53:55 GMT
Fill ya boots time.... Don't think it'll last (although you never know, it is a free market and people have opinions)....
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mikes1531
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Post by mikes1531 on Jan 31, 2014 22:36:52 GMT
Fill ya boots time.... Don't think it'll last (although you never know, it is a free market and people have opinions).... It'll be interesting to see what happens next week, when lenders' money comes flooding out of Zopa once their Rate Promise ends on Monday evening. PS. Can anyone explain why the RS Lending page shows the 6.0% rate as pictured in westonkev's message above, but the Rate Wizard on the RS home page shows only 5.8% if you ask for the rate on Lending of at least 60 months? What's the difference between those two numbers?
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Post by uncletone on Jan 31, 2014 22:53:24 GMT
Fill ya boots time.... Don't think it'll last (although you never know, it is a free market and people have opinions).... Caught it. Used the first of my free direct debits - £1250 transferred and lent out in three hours flat. (My boots are of modest size compared to most around here)
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oldgrumpy
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Post by oldgrumpy on Jan 31, 2014 23:57:37 GMT
O-Grumpy lent out £1200 at 6% within 90 minutes this afternoon too. My prediction is that the fun there will stop now, until the third week in February. Zopa dance is not for me.
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Post by jackpease on Feb 11, 2014 8:09:48 GMT
I realise i don't really understand how Ratesetter works.
I took advantage of the rate spike mentioned above and bunged in £1k - great. But a week or so later i get an email saying the money has been returned because the loan has been repaid early.
Presumably for borrowers who overpay during rate spikes, if they can repay early and re-borrow when there isn't a rate spike, then they will.
Had i paid the RS fee to bump up my funds to take advantage of the rate spike then i'd be well out of pocket. Is it worth reacting to rate spikes?
thoughts welcome, Jack
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markr
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Post by markr on Feb 11, 2014 10:29:56 GMT
You were a little unlucky, I think, most loans aren't repaid that quickly even when they were formed during a spike; most borrowers get a rate they are happy with an probably never check again. One way to avoid this is to split your funds into smaller bids. I know this is tricky when you want to capture a spike, but if you bid in say £200 chunks and wait until there's a couple of thousand above you before you bid again (or bid at another percentage) you should split your funds over a few loans. As repayments come in and are relent, your funds get "churned up" into much smaller lumps anyway, so this should become less of a problem as your portfolio matures.
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oldgrumpy
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Post by oldgrumpy on Feb 11, 2014 10:38:59 GMT
I've had two separate four figure "returns" from 29 January!! I'll have to wait until 5.7-5.8% is back on later this week (I hope!). Edit 16 Feb. I had to compromise down this week , but still matched all by 16 Feb at 5.6% ( "My selected" etc... had wavered down as far as 4.9% during the week!!)
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oldgrumpy
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Post by oldgrumpy on Feb 11, 2014 12:14:09 GMT
I see OG is back to his usual self today Someone's asking for a slap round the ear'ole with a banana skin!!
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markr
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Post by markr on Feb 11, 2014 13:34:57 GMT
Hmm, maybe I should amend my above comment to say I have been lucky in that all of my tiny handful of early repayments have been around average rates. But on the flipside, I am generally unlucky with spikes and don't seem to get my funds transferred in time!
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Post by yorkshireman on Feb 11, 2014 21:16:17 GMT
And I still say as I did on the old forum and elsewhere, Ratesetter is manipulated by City Boys for their own profits so count me out until RS rates give a decent return to small investors. Yorkshireman, I tend not to write on the other forums as I don't think it appropriate even when they mention RateSetter. However I do feel the need to defend our lenders good names... The money markets are "markets" in the city sense. However the average lender is an older , probably retired home counties individual looking for a safe income that beats the banks. We have some charities and other organizations as wel, and the monthly market is useful for small businesses with excess operating cash. Most our long term lenders reinvest for the long term. We don't really have "traders" coming in and out, it just doesn't make financial sense. There are better places for them to play this game. As for RateSetter staff, I admit I've bought the odd equity and even dabbled in spread betting. Rhydian was (sort of!) an Investment Banker. But there is a reason he founded RateSetter and one was to provide an honest transparent financial alternatives. We are genuinely excited by what we are trying to do that it almost verges on cultdoom. If you come to our annual drinks evening you would see a lack of manipulative city boys. If the rates are not sufficient for you and your level of risk then fair enough. That is your prerogative and choice. But please don't be disparaging about people we talk to every day. As for Yorshirman, I'm even having a few drinks Friday with some fellows from Skipton. You see, I have all types of friends of all types! Kevin. It’s that time again, the boys are back in town. Monthly access last match 1.7% and “I have chosen to lend £X at my selected rate of 1.5%”
Bizarre how rates dip to these levels on a monthly basis.
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