jw01
Posts: 62
Likes: 21
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Post by jw01 on Feb 14, 2017 18:09:34 GMT
Steve, I'm not sure if this has been asked before, but do you plan to offer lenders the option of specifying a minimum general lending rate? I accept that my overall rate is in the high 8s (high 7s after your fees), but my latest automatic loan (a substantial amount over an extended period) was at 6% (5% after fees). I appreciate that the point of BondMason is to make it as automatic as possible, but there is no way that I would have countenanced making such a bid. I was planning to make a further deposit. Now I have to stop and think.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
Likes: 945
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Post by stub8535 on Feb 14, 2017 18:47:04 GMT
jw01 I think these low percentage loans still offer a decent return, compared to bank accoynts and 30 day deposit or instant access elsewhere, and there needs to be a balance of above and below 7% to get to the target rate. I would hope your suggestion, whilst in some ways logical, would not gain adoption
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Greenwood2
Member of DD Central
Posts: 4,384
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Post by Greenwood2 on Feb 14, 2017 20:28:43 GMT
I do tend to think that to get over 7% after losses and fees going much under 7% in loans is not a good idea, I guess we will see.
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Post by stevefindlay on Feb 14, 2017 23:18:05 GMT
We state that loans are in the range 5-15%, with the average 8-9%. You can see the distribution of rates on our statistics page - www.bondmason.com/statistics 6% are reasonably uncommon, but there can be some good opportunities here. We may introduce further functionality in the future around loan selection criteria, but this isn't currently very high on the priority list. If the averages are 8-9% then hopefully everything is moving in the right direction.
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