oldgrumpy
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Post by oldgrumpy on Jun 30, 2014 8:32:14 GMT
I just noticed my reinvest instruction of 6.4% had been auto listed overnight at 6.8% (and a £200K+ queue). I dropped it to 6.6% fifteen minutes ago and it's already been taken. Drop in some cash at 6.6-6.7% today and it'll probably all go by tomorrow but I wonder how much 6.8% will actually be lent as people wake up.
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duck
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Post by duck on Jun 30, 2014 11:25:22 GMT
Yes I dropped todays reinvestments (several hundred pounds) in at 6.6% earlier this morning, it went immediately. Nice rate.
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Post by goldservice on Jun 30, 2014 14:01:39 GMT
Around 21:00 last night the rate touched 6.9%. I've noticed that rates at RS sometimes go up towards the end of the month. I guess people are waiting to be paid so there is less money around. At one point there was less than £50k in total (including all the optimistic or typo bids up to 100%). Most of the month the total 'in hand' is around £400k. I wondered what would happen if the money ran out? The answer to that may lie in what happened next: when the total got down to £45k, a single order to lend £10k came in (at 6.7% IIRC). Was that from a management reserve fund I wondered? Or perhaps it was just one lender.
Edit: The above is all about the 5 year market.
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star dust
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Post by star dust on Jun 30, 2014 16:24:11 GMT
I've just matched at 6.8 which I set last night. There's still not much on in the 5 year market.
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Post by GSV3MIaC on Jun 30, 2014 18:58:34 GMT
I just noticed my reinvest of 6.4% had been auto listed overnight at 6.8% (and a £200K+ queue). I dropped it to 6.6% fifteen minutes ago and it's already been taken. Drop in some cash at 6.6-6.7% today and it'll probably all go by tomorrow but I wonder how much 6.8% will actually be lent as people wake up. And how long it will STAY lent, when people realise they have a cooling off period, easy exit, and lower rates are available 'shortly'?? I've had good rates matched and then rapidly bounced, before (probably ZOPA rather than RS though).
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star dust
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Post by star dust on Jun 30, 2014 19:12:55 GMT
I just noticed my reinvest of 6.4% had been auto listed overnight at 6.8% (and a £200K+ queue). I dropped it to 6.6% fifteen minutes ago and it's already been taken. Drop in some cash at 6.6-6.7% today and it'll probably all go by tomorrow but I wonder how much 6.8% will actually be lent as people wake up. And how long it will STAY lent, when people realise they have a cooling off period, easy exit, and lower rates are available 'shortly'?? I've had good rates matched and then rapidly bounced, before (probably ZOPA rather than RS though). I've had bounce back's from RS a few times, but what annoys me most is that RS don't notify you so if you don't have any re-invest options actiated it can just sit in your account until you notice.
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Post by chielamangus on Jul 1, 2014 7:20:00 GMT
I just noticed my reinvest of 6.4% had been auto listed overnight at 6.8% (and a £200K+ queue). I dropped it to 6.6% fifteen minutes ago and it's already been taken. Drop in some cash at 6.6-6.7% today and it'll probably all go by tomorrow but I wonder how much 6.8% will actually be lent as people wake up. This happens to me and I don't understand it. My reinvestment settings are ignored and I find I'm put to the back of the queue at a rate much higher than the one I selected. It means I still have to check the rates daily (readers here will know I try to minimise the time spent on investment activities) which irritates me more than a little. What is the point of a reinvestment setting if it is ignored?
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Post by p2plender on Jul 1, 2014 7:26:44 GMT
I quite like how their format works tbh. I bet you'd be miffed if your reinvestment was taken at say 6% and the market rate was 6.8%?
Literally takes 30 secs a day to manage it all.
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jonbvn
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Post by jonbvn on Jul 1, 2014 7:29:35 GMT
And how long it will STAY lent, when people realise they have a cooling off period, easy exit, and lower rates are available 'shortly'?? I've had good rates matched and then rapidly bounced, before (probably ZOPA rather than RS though). I've had bounce back's from RS a few times, but what annoys me most is that RS don't notify you so if you don't have any re-invest options actiated it can just sit in your account until you notice. I'm a bit confused by your point. As soon as a loan is repaid early, I get an email from RS.
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oldgrumpy
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Post by oldgrumpy on Jul 1, 2014 7:45:07 GMT
And how long it will STAY lent, when people realise they have a cooling off period, easy exit, and lower rates are available 'shortly'?? I've had good rates matched and then rapidly bounced, before (probably ZOPA rather than RS though). I've had bounce back's from RS a few times, but what annoys me most is that RS don't notify you so if you don't have any re-invest options actiated it can just sit in your account until you notice. I just had this email first thing this morning: Dear Grumples This is to inform you that your 5 Year Income contract C1099****3214 for £***.** has been paid back early. The outstanding balance of £***.** plus any interest due has been handled according to your Reinvestment Plan.
(Such a message was not received about a year ago when a four figure loan was repayed PDQ.)
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Post by elljay on Jul 1, 2014 8:18:14 GMT
I'm a bit confused by your point. As soon as a loan is repaid early, I get an email from RS. Me too. Maybe it's worth a look on your Contact Preferences page and check if the right boxes are ticked.
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duck
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Post by duck on Jul 1, 2014 8:35:27 GMT
I had an Email regarding an early repayment today as well, not experienced this before, is this a new policy ......... or a way to ensure all possible funds are on the market?
Either way I like it, tracking down early repayments are always a bit of a pain since my spreadsheets say 'No' until I sort it!
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star dust
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Post by star dust on Jul 1, 2014 9:07:45 GMT
I had an Email regarding an early repayment today as well, not experienced this before, is this a new policy ......... or a way to ensure all possible funds are on the market?
Either way I like it, tracking down early repayments are always a bit of a pain since my spreadsheets say 'No' until I sort i Well, surprise surprise, for the first time for me too I received an email about a repayment today (no not the 6.8% one) - I assume it must be a new feature and the first time I've experienced it. Good improvement RS. Hope it explains your confusion jonbvn
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markr
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Post by markr on Jul 1, 2014 10:09:03 GMT
I had an Email regarding an early repayment today as well
Looks like we all had some of this, lol. My £18.98 was lent at 5.7%, so it'll be nice to get it re-lent at 6.something!
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Post by p2plender on Jul 1, 2014 10:14:08 GMT
I had a 5.5% repaid early today but no email alert. Fortunately I check RS several times a day so no dramas.
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