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Post by westonkevRS on May 31, 2014 11:07:54 GMT
....... Is by me!
I wouldn't normally put RateSetter blogs here, but I wrote this one so I figure that entitles me to post it here.... Marketing or not.... You decide.
My first ever RateSetter blog on lender forecasts for base rates. Shame editorial removed my calls for anarchy
t.co/wahWMJGwab
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Post by davee39 on May 31, 2014 12:08:12 GMT
Nice piece, but like most financial analysis probably completely wrong.
It does look like a determined attempt to push up rates, but the money on offer is relatively low and RS is lending at record levels. Having previously reported that half of lending was to Giffgaff customers the rate picture is becoming distorted by these higher rate loans. Whatever is happening here RS is to be congratulated for innovation to the benefit of all its customers.
Please do chase up a faster payments deposit method though, this was being looked at some months ago and is probably the feature most desired by savers. With loans currently challenging £6m/week, and presumably £10m/week in a years time, the current next day approach leaves you miles behind other organisations.
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Post by davee39 on May 31, 2014 14:08:58 GMT
I was not very clear. The lenders are pushing up the rates, IE the astute individuals here who always go for the extra 0.1%.
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Post by yorkshireman on May 31, 2014 14:34:55 GMT
Is that you with the crystal ball Kev?
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duck
Member of DD Central
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Post by duck on May 31, 2014 16:52:37 GMT
I remember some rather heated discussions over Zopas use of 'savers' in the past, far be it from me to mention that though .......
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Post by mrclondon on May 31, 2014 21:06:00 GMT
giffgaff is actually a small percentage of loans by value. Are there any plans to rollout the giffgaff model to other internet retailers ? Earlier this year I spend over £500 on 4 new tyres at BlackCircles.com , another "disruptive" internet retailer, but I couldn't help but notice the distinctly traditional APR of the finance being offered to unsuspecting customers.
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Post by westonkevRS on Jun 9, 2014 14:44:50 GMT
I wouldn't like to comment on potential partners, but our aspirations are ambitious hence why we are proud to work with partners such as giffgaff/O2/Telefonica. However along the same lines as my inarticulate blog comes one from Rhydian published on The Huffington Post; m.huffpost.com/uk/entry/5444966Similar, just better written and focussed on the free market aspect. This isn't something we are pushing as such as a marketing tool, actually just something we (well me and Rhydian anyways) find extremely interesting and unique about RateSetter. |
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james
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Post by james on Jun 12, 2014 4:57:00 GMT
It's interesting but at the moment I think that competition between lending services is likely to be a bigger influence than expectations of interest rate changes.
There is one notable exception. Any corporate lenders, who may try to build such expectations into what they offer. Such lenders may also work to try to drain the market of cheaper money by raising their rates in an attempt to set a new benchmark rate. Whether they can do this would depend on how large a part of the market they are.
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