IFISAcava
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Post by IFISAcava on Sept 28, 2017 18:39:45 GMT
Three things of note. 1) I had unmatched at priority for 7 days 2) 60% of my funds are unmatched Putting 1) & 2) together means bad cash drag 3) most importantly, I had left £20 at old market rate (5.8%) to see how long it took to match. Today it has automatically been reduced to new market rate (5.7%). If they can automatically reduce orders on market rate, why can't they do that for orders on priority instead of leaving then languishing unmatched at the old priority rate? I have just been having an on-line chat with "Freddie" regarding some of the challenges on the platform and he was very open and responsive. On point 3, something to note is that if priority rates automatically tracked down, then the decline in rates would accelerate. However rates will only stablise once they get down to a level where supply and demand are balanced... At this point the platform may bring in an option for lenders to offer a rate higher than Market Rate. I don't buy that. The decline in rates is only slowed by artificially lengthening the time to matching by taking people off the priority rate they had chosen. Instead of a transparent reduction in rate (i.e. choosing priority rate) there is a covert, stealth reduction in rate (cash-drag though increased time to match at at higher rate). Tracking the priority rate down would speed up the equilibrium, avoid cash drag and be more transparent for all.
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sandbrain
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Post by sandbrain on Sept 29, 2017 12:34:28 GMT
So what don't you buy? Don't you agree that if priority rates automatically tracked down, then the decline in lender rates would accelerate? I didn't say that this would be a bad thing, I only mentioned it because this thread was originally dealing with new lender rates and lenders' concerns of their decline...
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IFISAcava
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Post by IFISAcava on Sept 29, 2017 14:49:15 GMT
So what don't you buy? Don't you agree that if priority rates automatically tracked down, then the decline in lender rates would accelerate? I didn't say that this would be a bad thing, I only mentioned it because this thread was originally dealing with new lender rates and lenders' concerns of their decline... I don't buy it because the acceleration (in terms of reduced returns to investors) still occurs the same in either scenario - it is just hidden in the form of increased cash drag in the current scenario compared to the situation where headline rates reduce more quickly but there is less cash drag. Outcome (in terms of reduced cash return) is the same, so I don't buy it as a reason to stick with a less transparent way of reducing returns. It just allows a pretence that the slower decline in headline rate means the returns remain higher.
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nush
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Post by nush on Oct 10, 2017 8:07:07 GMT
5.5% now. this is not P2P this is charity
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Post by dan1 on Oct 10, 2017 8:12:52 GMT
5.5% now. this is not P2P this is charity Did you receive one of the new notification emails? Edit: received email from GS now, a couple of minutes after my original post
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nush
Member of DD Central
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Post by nush on Oct 10, 2017 8:25:55 GMT
5.5% now. this is not P2P this is charity Did you receive one of the new notification emails? Edit: received email from GS now, a couple of minutes after my original post no email for me yet
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Post by dan1 on Oct 10, 2017 8:29:53 GMT
Did you receive one of the new notification emails? Edit: received email from GS now, a couple of minutes after my original post no email for me yet You should have received one by now assuming that you signed up for alerts by clicking the link in the previous email.
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nush
Member of DD Central
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Post by nush on Oct 10, 2017 10:00:28 GMT
sorted now thanks, although it doesnt matter now, i dont have much left in this account
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mary
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Post by mary on Oct 10, 2017 10:31:20 GMT
You should have received one by now assuming that you signed up for alerts by clicking the link in the previous email. No email for me. I can't see anywhere in my account to sign up for these emails, any hints welcome?
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Post by dan1 on Oct 10, 2017 11:07:11 GMT
You should have received one by now assuming that you signed up for alerts by clicking the link in the previous email. No email for me. I can't see anywhere in my account to sign up for these emails, any hints welcome? I received an email on 4 Oct titled "Growth Street - Subscribe to Rate Change Notifications", within which was a link to subscribe to notifications. I couldn't see a setting in my account either - try the live chat, I'm sure Freddie can help.
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rgog
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Post by rgog on Oct 10, 2017 11:46:51 GMT
Have had a small amount sitting at market rate to see how long (if at all) it takes to be lent. So far 8 days and a rate reduction. Will not be surprised if it does not move at all! Am fast coming to the conclusion the Market rate has become a joke.
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IFISAcava
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Post by IFISAcava on Oct 10, 2017 11:49:49 GMT
Have had a small amount sitting at market rate to see how long (if at all) it takes to be lent. So far 8 days and a rate reduction. Will not be surprised if it does not move at all! Am fast coming to the conclusion the Market rate has become a joke. I've had a token amount sitting at market rate since Sept 11th.
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kaya
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Post by kaya on Oct 10, 2017 13:44:18 GMT
The market rate must be some kind of secret off-world market because it sure as hell isn't a real world market.
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amphoria
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Post by amphoria on Oct 10, 2017 19:14:17 GMT
If you look on the Time to Match page on the GS website you will see that there have been no market rate matches since June.
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baboonery
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Post by baboonery on Oct 28, 2017 17:59:37 GMT
Just noticed that rates appear to have dropped today to 5.5/5.4 but no e-mail notification received.
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