amphoria
Member of DD Central
Posts: 156
Likes: 124
|
Post by amphoria on Jul 2, 2017 17:04:56 GMT
My last match took 13 days from 7th June at the market rate. I discovered when I logged in yesterday that 80% of this money had repaid after only 7 days. Now re-invested at the priority rate as I could not afford to wait another 2 weeks.
|
|
|
Post by dan1 on Jul 2, 2017 20:05:46 GMT
My last match took 13 days from 7th June at the market rate. I discovered when I logged in yesterday that 80% of this money had repaid after only 7 days. Now re-invested at the priority rate as I could not afford to wait another 2 weeks. I had not considered early repayment in my assessment of whether to choose market or priority rate. It's changed my approach somewhat in that a single early repayment early on in the 30 day cycle can scupper the gain of selecting market rate in preference to the priority rate when viewed over the course of a year.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
|
Post by littleoldlady on Jul 13, 2017 9:56:58 GMT
I gave up on market rate and switched to priority rate but still no movement after 48 hours. I am close to giving up on this platform.
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Jul 13, 2017 21:05:46 GMT
I received a pop-up asking whether I would recommend GS so I gave my carefully considered thoughts. Now I they have sent me a request for a TrustPilot but I haven't the heart to give an opinion there for now. The summer may be a slack period in business, but they will need to improve the situation as soon as possible.
Any money not tied in by the promo restriction would surely be worth withdrawing if it sits earning 0% for too long.
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Jul 14, 2017 7:29:58 GMT
As I don't often have the chance to provide a contradictory, but positive, view, I'll say that my funds always appear to have been re-invested within 48hrs. I did switch to priority about 6 weeks ago, and obviously my rate is dropping like everyone else's, but I see this as a sign of progress for the platform more than anything.
Of course, eventually, if they do well enough rates will become RS-like and totally useless!
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
|
Post by littleoldlady on Jul 14, 2017 9:40:46 GMT
My priority orders eventually filled after 3 days. I have left an odd tenner order at market rate just to see how long that takes.
|
|
beh
Member of DD Central
Posts: 174
Likes: 76
|
Post by beh on Jul 14, 2017 17:57:45 GMT
My last order at market rate took ~2 weeks, at priority rate was <24hrs (earlier this month).
|
|
mary
Member of DD Central
Posts: 698
Likes: 711
|
Post by mary on Jul 14, 2017 18:37:06 GMT
My priority orders eventually filled after 3 days. I have left an odd tenner order at market rate just to see how long that takes. Good luck, I gave up after 10 days and have reluctantly concluded that the priority rate will decline 0.1% per month, and I'm only sticking around for the sign up bonus that will make it worth while for the year, but after that I'm likely out. Provided you are happy to invest a minimum of £1k in a single loan, I'm using ArchOver as their Secured and Insured is attractive as rates are 6.5 to 7% for 1 year, and the Insured bit acts as a safety buffer in case of default. This is, I think, unique and very attractive.
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Jul 14, 2017 19:37:57 GMT
*sigh* which wouldn't be so bad if loans weren't so short to begin with AND often paying back early (now have queued money from a 2week early repayment)
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jul 14, 2017 23:35:06 GMT
Calculating the waiting time my return rate is currently 6%, but in last few months rate have gone down by nearly 0.5% and waiting time for loans has gone up. Not sure why they did such good refer a friend offer as they already more money then loans.
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Jul 15, 2017 4:25:33 GMT
I think they must be doing all they can to find borrowers that meet their criteria. As it's an overdraft facility, not all the allowances they have agreed are in use. That must make it more difficult to keep lenders' funds working. I wish them well, I hope they can scale up the borrowing side soon to shorten the queue without pushing up risk.
|
|
greatmarko
Member of DD Central
Posts: 343
Likes: 373
|
Post by greatmarko on Jul 16, 2017 10:32:15 GMT
I think they must be doing all they can to find borrowers that meet their criteria. As it's an overdraft facility, not all the allowances they have agreed are in use. That must make it more difficult to keep lenders' funds working. I wish them well, I hope they can scale up the borrowing side soon to shorten the queue without pushing up risk. Maybe they should put a temporary freeze on accepting new lenders, until they have more borrowers and there's a better borrower/lender balance? There's clearly an increasing imbalance, and continuing to allow investors to join the platform is only going to make it worse for ALL investors!
|
|
savernake
Member of DD Central
Posts: 174
Likes: 142
|
Post by savernake on Jul 16, 2017 12:12:36 GMT
I've had money queued at priority rate for 4 days now. As for the market rate, it's a complete waste of time - your money will be waiting in the queue for almost the same length of time as its invested. The actual return you're getting will be less than half the advertised rate and roughly the same as the RS rolling rate.
|
|
ding
Member of DD Central
Posts: 238
Likes: 132
|
Post by ding on Jul 16, 2017 12:17:12 GMT
I've had money queued at priority rate for 4 days now. As for the market rate, it's a complete waste of time - your money will be waiting in the queue for almost the same length of time as its invested. The actual return you're getting will be less than half the advertised rate and roughly the same as the RS rolling rate.
As more and more people realise this they shift to the priority queue. At some point your find >50% cash queued at priority. Waiting on the £100 referral at the end of the rainbow (May).
|
|
|
Post by nesako on Jul 17, 2017 10:58:11 GMT
So far all my priority rate orders got filled within hours for me, by reading the comments it may not be the case once my current loans repay at the end of the month, will just have to wait and see...
|
|