agent69
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Post by agent69 on Dec 28, 2016 12:16:00 GMT
Just waiting to see if the predicted January rush materialises, otherwise I'm off.
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nairda
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Post by nairda on Dec 28, 2016 12:17:07 GMT
Given up with Ratesetter now,I am averaging 6.2% on the 5 year market and been investing for 3 years, but due to the poor rates have set repayments to go to holding account and withdrawing every 2 days I have been drawing down now for ages and I won't be putting any more in as things stand. Mrs Nairda has been putting all repayments and interest from her 3-year and 5-year investments into Rolling for the time being. The rewards from 5-year don't justify the risk any more. If we can find a good non-Ratesetter home for her money that too will be withdrawn as it appears.
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ashtondav
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Post by ashtondav on Dec 28, 2016 15:23:39 GMT
Its insane! 2.9% in rolling and 3.9% in the five year market right now. If RS were "selling" this as a Financial Service product it would be serious misselling.
I too am waiting to see if the traditional January surge enables five year loans at 6%+. If not its back to ZOPA+ where as a founder member i get an extra 1%.
3.9% for 5 years in an interest rate increasing world is not just dumb - it's brain dead.
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Liz
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Post by Liz on Dec 28, 2016 16:15:01 GMT
5 year income is 3.8% now. What does one say ? You either leave p2p as the extra risk isn't being rewarded, or invest in ABL, SS, TC, MT, FS etc etc. If you invest in FS for example, you can earn 13%(at least) and can afford a to take a big hit before you fall down to RS returns. I would rather have my funds in shares or property or even a Bondmason type investment, than the poor returns on RS. Don't forget Ratestter is not a guarantee, the Provision Fund has been in decline for a long time, so may not always pay out. This is still is risky investment and not an instant account; 3-4% just doesn't cut it.
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Post by p2plender on Dec 28, 2016 16:17:26 GMT
There's a lot of people saying the same but not making any dent in the offerer pile!
Same tactic here, re-investment into holding and money going elsewhere. If people are happy to tie up money sub 5.5% then good luck with that.
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upland
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Post by upland on Dec 28, 2016 18:36:07 GMT
I am sure that it was not as bad as this when westonkev was in charge.
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upland
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Post by upland on Dec 28, 2016 18:45:13 GMT
5 year income is 3.8% now. What does one say ? You either leave p2p as the extra risk isn't being rewarded, or invest in ABL, SS, TC, MT, FS etc etc. If you invest in FS for example, you can earn 13%(at least) and can afford a to take a big hit before you fall down to RS returns. I would rather have my funds in shares or property or even a Bondmason type investment, than the poor returns on RS. Don't forget Ratestter is not a guarantee, the Provision Fund has been in decline for a long time, so may not always pay out. This is still is risky investment and not an instant account; 3-4% just doesn't cut it. Indeed Liz , RS is a pretty minor holding for me and I use many of the big names (AC,SS,FS,MT...) I would be interested in your view of ABL as I dont use them. I know its a bit off topic but this topic is in terminal decline.
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Post by ruralres66 on Dec 28, 2016 20:36:17 GMT
Last Matched Rates Rolling 3.2% at 20:29 1 Year 3.1% at 16:55 5 Year Income 3.9% at 19:52.... as Manuel in Fawty Towres would have said, ' Krazy"! _ I would love to know the portion, % of 5 year being served by Rolling....
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jonah
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Post by jonah on Dec 28, 2016 20:43:59 GMT
Last Matched Rates Rolling 3.2% at 20:29 1 Year 3.1% at 16:55 5 Year Income 3.9% at 19:52.... as Manuel in Fawty Towres would have said, ' Krazy"! _ I would love to know the portion, % of 5 year being served by Rolling.... There was 13m of cash needed for rolling this morning. At the same time there was only 19k needed for 5year. Draw any conclusions as appropriate. Also there is a historical tracker for last matched rates somewhere...
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oldgrumpy
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Post by oldgrumpy on Dec 28, 2016 21:18:17 GMT
Missed out on 3.3% rolling by a whisker this morning . Haven't touched 5yr for months.
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alender
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Post by alender on Dec 29, 2016 0:32:17 GMT
There was 13m of cash needed for rolling this morning. At the same time there was only 19k needed for 5year. Draw any conclusions as appropriate. How many 1 month loans does RS have compared to 1 and 5 years. To me it seems obvious with the Rolling queue of over 13M used in one day and volume of about 2.9m so far for the current week (I would guess this is new business not roll over loans) there is a lot of financing of long term loans from short term money, looks like RS are basing their model on Northen Rock. I personally will stay away from rolling as at the first sign of trouble these funds will be locked in for up to 5 years at very low interest rates. I think this is one of the areas the FCA are not very happy about. Also the rates will have to rise quite a bit before I think of putting any money into the other markets especially with the goings on with the PF.
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Post by westonkev on Dec 29, 2016 9:45:39 GMT
I am sure that it was not as bad as this when westonkev was in charge. I was never in charge..... if I had been.....
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registerme
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Post by registerme on Dec 29, 2016 11:36:29 GMT
I was never in charge..... if I had been..... ... RateSetter would have had a customer communications department run by Michael O'Leary . ( just pulling your tail Kev )
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ashtondav
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Post by ashtondav on Dec 29, 2016 13:27:37 GMT
There was 13m of cash needed for rolling this morning. At the same time there was only 19k needed for 5year. Draw any conclusions as appropriate. How many 1 month loans does RS have compared to 1 and 5 years. To me it seems obvious with the Rolling queue of over 13M used in one day and volume of about 2.9m so far for the current week (I would guess this is new business not roll over loans) there is a lot of financing of long term loans from short term money, looks like RS are basing their model on Northen Rock. I personally will stay away from rolling as at the first sign of trouble these funds will be locked in for up to 5 years at very low interest rates. I think this is one of the areas the FCA are not very happy about. Also the rates will have to rise quite a bit before I think of putting any money into the other markets especially with the goings on with the PF. Surely that's not dissimilar to a Ponzi scheme. If I understand you correctly (and I hope I'm wrong) rolling investors can only get their money back "instantly" from new rolling investors?
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alender
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Post by alender on Dec 29, 2016 13:47:43 GMT
Don't think it is a Ponzi scheme, investors should eventually get their money back but otherwise correct if you ignore the small amount of loan repayments. As far as I know the bulk of rolling repayments need to be financed by new rolling investors, there will be a small amount of loan maturities but these occur on the day when the loan maturities not usually then end of the rolling contract and judging from my rolling contracts in the past they are very few. I believe RS have a buffer in case there is not enough money on the day but not sure how long this buffer would hold in bad conditions.
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