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Post by contangoandcash on Jul 6, 2015 9:35:15 GMT
I'm still posting into the monthly market any money that is returned to me, it is the only choice as far as I can see for my investment, without drawing down..
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Post by p2plender on Jul 6, 2015 10:01:42 GMT
At least this cash back has given me the impetus to look around at other P2P sites. As RS have broken theirs for the timebeing I am going to give Lendingworks and Wellesley a go. I played with FC about 2 years ago but did not like the amount of time it took me each day. Ironic that I previously liked RS since I could just set a YR at my minimum and leave the system to do its thing, however, with the change to the YR system along with this cashback I think RS may be best left alone for a while. SS def worth a look as well. Had a 6.8% loan paid back early today as well from RS. Wonder why? This nonsense must really annoy those that have borrowed 6.5% of late - been some big loans as well.
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Post by brokenbiscuits on Jul 6, 2015 11:56:32 GMT
Ive decided to go as low as 6.3%, not ever going to try and compete with the 5.7% currently on offer though!
not matched anything since the cash back offer started. Will see what happens by mid week when rates are usually better... Might be time to get out and pop back august to see if its all fixed.
will start doing some proper research on ratesetters closest match and then review whether its better to top up there or see what the markets are doing.
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jonbvn
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Post by jonbvn on Jul 6, 2015 22:33:00 GMT
At least this cash back has given me the impetus to look around at other P2P sites. As RS have broken theirs for the timebeing I am going to give Lendingworks and Wellesley a go. I played with FC about 2 years ago but did not like the amount of time it took me each day. Ironic that I previously liked RS since I could just set a YR at my minimum and leave the system to do its thing, however, with the change to the YR system along with this cashback I think RS may be best left alone for a while. More power to you. IMHO to use only one P2P platform fails the diversification rule for investing. I think I am on my 6th or 7th - can't recall some of the ones that died already, at my age
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adrianc
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Post by adrianc on Jul 7, 2015 7:16:15 GMT
Just to keep the cash doing something until the splashback's dried up, the monthly seems to have some fairly serious volume - I'd got some sitting at 3.4% - yesterday, it was nearly a million quid back. It matched overnight...
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bugs4me
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Post by bugs4me on Jul 7, 2015 8:59:37 GMT
The 3 year market seems to have hit an all time low (for lenders) so I'll just sit there and see what happens. I've set my minimum and if the un-invested funds build too high then it's withdrawal time. What I won't do is loan for the sake of it irrespective as to whether there are superior offers elsewhere - which ATM there are.
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jo
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Post by jo on Jul 7, 2015 9:05:12 GMT
QE for the P2P.
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Post by contangoandcash on Jul 7, 2015 10:23:15 GMT
kev has the response to this offer been above/below or about the same as you expected?
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Post by westonkevRS on Jul 7, 2015 12:29:00 GMT
kev has the response to this offer been above/below or about the same as you expected? I didn't have any expectations, as it isn't my bag. But with the money sitting on the markets alongside the reduction in lender returns - I suspect Finance/Comms are probably happy with the result. For myself I just hope there isn't a drought afterwards, i.e. in August will rates quickly drift back upwards again? August 21st Market Rates will be interesting. I'd rather stability without volatility and grow slowly but surely. @ westonkevRS
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spiral
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Post by spiral on Jul 7, 2015 16:52:51 GMT
in August will rates quickly drift back upwards again? Whether they do or don't , it could be argued that RS have unfairly manipulated the rates with the CB. What the CB has in essence done is discounted the rate from which the MR calculation is derived in that an offered rate of 5.8 is really returning about 6.1 to the lender (in 5 yr) so in the MR calculation, 6.1 is the figure that should be used. For previous CB's, this was not the case. Its all about subtlety. If the CB was 15%, in 5yr a lender could discount their rate by nearly 5% to get the same return (i.e for 6% return offer to lend at 1.1%) so MR would very quickly become in the low 1%'s. I'm sure then it would be deemed as rate manipulation. So the question is how high can a CB be to be deemed fair game as opposed to manipulation of rates.
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jonah
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Post by jonah on Jul 7, 2015 17:56:20 GMT
kev has the response to this offer been above/below or about the same as you expected? I didn't have any expectations, as it isn't my bag. But with the money sitting on the markets alongside the reduction in lender returns - I suspect Finance/Comms are probably happy with the result. For myself I just hope there isn't a drought afterwards, i.e. in August will rates quickly drift back upwards again? August 21st Market Rates will be interesting. I'd rather stability without volatility and grow slowly but surely. @ westonkevRSAny reason for the 21st specifically?
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Post by westonkevRS on Jul 7, 2015 20:03:15 GMT
August 21st Market Rates will be interesting. I'd rather stability without volatility and grow slowly but surely. @ westonkevRSAny reason for the 21st specifically? If you download the MR table from the members web site, and if you pivot table the MR by day of the month. Especially for 2015 (it wasn't so volatile in 2013 and 2014), the MR peaks on day 21. This makes common sense as well because more loan repayments are made at the start and end of month, and also lenders probably get paid more often at the end or start of month. But borrowers are quite consistent, and hence their is a miss-match in the middle of the month that appears to peak around day 21. The variance can be over 0.5%. So if lenders have maxed out on the cash-back; will their be a drought of lender money afterwards if borrowers continue and RateSetter doesn't find new lenders to pick up any slack. But this volatiloty mid-,month didn't happen historically in previous years, and so could quite easily disappear going forward. WARNING - THIS IS ONLY FACT BASED ANALYSIS OF PASSED MARKET RATES OF DATA PUBLICLY AVAILABLE. I CANNOT KNOW IF THIS WILL RE-OCCUR AND IS CERTAINLY NOT A RECOMMENDATION OR ADVICE. MAKE YOUR OWN DECISIONS AND DO OWN DUE DILIGENCE @ westonkevRS
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pikestaff
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Post by pikestaff on Jul 8, 2015 5:45:17 GMT
...Ironic that I previously liked RS since I could just set a YR at my minimum and leave the system to do its thing, however, with the change to the YR system along with this cashback I think RS may be best left alone for a while. I agree it's an absolute pain. I'm hoping the effects of the CB will wash through fairly quickly but we shall see.
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Post by p2plender on Jul 8, 2015 5:53:14 GMT
A lost month A lost generation of p2p lenders thanks to Ratesetter QE and CB
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c88dnf
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Post by c88dnf on Jul 8, 2015 14:36:18 GMT
My experience with the cash back so far: £5000 deposited at 5 minutes past midnight on the first day of the offer at below the then market rate. That is being balanced by funds coming in during the month, so no net benefit to RS. The £5k is still sitting unmatched having reduced it to an unacceptably low 6.0%. Just to add insult to injury, RS have sent me an email today kindly letting me know that I have £5k on the market not earning anything and suggesting I lower the rate. I can't publish my reaction to that on this forum.... So, I'll tough it out until the end of the offer, but if that £5k doesn't sell, it'll be taken out of Ratesetter, together with the £5k used as offsetting money, meaning a net loss of £5k of funds to RS. If the rates stay low, further funds will migrate elsewhere as fast as they come in. Message to RS' marketing department via westonkevRS: gaining new investors through these offers may seem like a whizzo idea, but alienating existing investors on the way usually ends up leaving you worse off.
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