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Post by dan1 on Oct 28, 2017 18:03:32 GMT
Just noticed that rates appear to have dropped today to 5.5/5.4 but no e-mail notification received. I received the notification email at 08:11 this morning. I'd check the junk folder, click on the link in their emails again, and failing that contact them via the chat facility.
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baboonery
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Post by baboonery on Oct 29, 2017 9:16:18 GMT
Just noticed that rates appear to have dropped today to 5.5/5.4 but no e-mail notification received. I received the notification email at 08:11 this morning. I'd check the junk folder, click on the link in their emails again, and failing that contact them via the chat facility. Thanks, I did check junk before posting having received an e-mail last time. I was concerned that others may have similarly 'missed out'. I'll try re-setting and see what happens.
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r00lish67
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Post by r00lish67 on Oct 29, 2017 10:02:15 GMT
It's a bit disappointing to see rates continuing to fall. Not just for the obvious point that we'd prefer higher rates, but I'm not sure what it says about the health of the platform. Where I suspect many (all?  ) of us were encouraged to join GS with the £100 bonus and high-ish rates, new joiners now receive no bonuses and a rate lower than can be achieved at RateSetter and LendingWorks (albeit for longer terms, granted). As a result, having lost its USP, I would now think GS has very few new joiners. Why take the additional risk of a new platform if you're not to be rewarded? Meanwhile, existing lenders are becoming increasingly fed up with lower and lower rates and long matching times, and several have stated here that they're off. All of this kind of points to a limited loanbook that isn't growing healthily. Low rates would be fine for the business if supported by newbies (hence why RS continue to offer welcome bonuses), but otherwise it just looks like they're shedding investors because they don't have the loanbook to support it. NB: I was looking at the website again to try and find statistics to see if I could add some weight to my thoughts or prove I'm talking out of my hat, but I couldn't see any. Has anyone found some? Edit: On reflection, and to add some balance, it's at least a good thing that they are lowering rates if their loanbook can't support it, rather than keeping their rates artificially high and just extending the queue, which would be very underhand. So, good on them for that, err kind of  |
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savernake
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Post by savernake on Oct 29, 2017 10:28:59 GMT
Just noticed that rates appear to have dropped today to 5.5/5.4 but no e-mail notification received. My rate notification email came through at 8am on Saturday so they did send them out. Not sure why you didn't receive yours? Frustrating to see rates drop yet again - they seem to drop about once every fortnight at the moment. I'm just hanging on for the joining bonus now, I decided a while ago that GS as a platform simply isn't reliable enough in terms of delivering a stable and consistent return. By the time I receive my bonus I expect the AC 30DAA will be offering a better return without any of the infuriating cash drag and dropping rates we get at GS. Of course, if GS can fix their lender/borrower imbalance and introduce a mechanism for the rates to go up again, I may be persuaded to stay!
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greatmarko
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Post by greatmarko on Oct 30, 2017 9:59:33 GMT
NB: I was looking at the website again to try and find statistics to see if I could add some weight to my thoughts or prove I'm talking out of my hat, but I couldn't see any. Has anyone found some? Limited stats are available at www.growthstreet.co.uk/lend-order-statistics
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mary
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Post by mary on Oct 30, 2017 11:18:26 GMT
NB: I was looking at the website again to try and find statistics to see if I could add some weight to my thoughts or prove I'm talking out of my hat, but I couldn't see any. Has anyone found some? Limited stats are available at www.growthstreet.co.uk/lend-order-statisticsInteresting, there's £680k at Priority and Market, but £1.2m at higher rates that will never be matched, obviously from people who are still treating this as a fire and forget platform that most of us thought it would be when we started out!
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kaya
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Post by kaya on Oct 31, 2017 19:29:55 GMT
Wow! A cool 1.2 million interest-free cash to play with! I wonder what they do with it. A little P2P speculation perhaps?
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nush
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Post by nush on Nov 12, 2017 10:39:18 GMT
stuck here waiting for the bonus then i am off, really wondering if its worth waiting for now after yet another rate drop
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Post by smrutib on Nov 12, 2017 12:01:37 GMT
Yeah, the incessant move downwards is frustrating. But if you think about it, 5.3% for a 1 month liquidity loan is not bad at all. However, taking idle time into account the real rate is probably closer to 4.5%-4.7%, which brings it quite close to AC's fire and forget account.
What are your thoughts about the diversifying benefit of these loans - at-least they are not property loans!
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rgog
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Post by rgog on Nov 12, 2017 14:37:49 GMT
5.3 is becoming a joke, still ahead of inflation but as it falls further alternatives certainly begin to beckon.
One of the attractions when I first invested and still one of the few remaining is the diversification in to a different asset class. Property I have enough. Shame about Collateral.
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mullet
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Post by mullet on Nov 12, 2017 21:43:31 GMT
Surely someone in Growth Street management at some stage has to realise their product isn't working.
The whole Market Rate vs Priority Rate thing isn't working. Everyone is on priority rate trying to be the quickest to respond the rate change (drop) emails to avoid going to the back of the queue again.
They must be able to see this is annoying. Why not just have one rate and one queue for the sake of 0.1%
I (like many people I suspect) are waiting for their bonus and will then be moving off this platform ...assuming we all head off at more of less the same stage they will be left with a shortage or lender to go with the shortage of borrowers. I can't see this platform taking off without a major rethink of the products
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rgog
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Post by rgog on Nov 14, 2017 2:21:47 GMT
Once the bonuses start to kick in it will be interesting to watch what happens. Yes I and a number of others on this forum are thinking to grab the money and run, but how many of their investors are on this forum or keep that close an eye on what is happening? £1.2M suggests not that many!
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IFISAcava
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Post by IFISAcava on Nov 28, 2017 9:55:26 GMT
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nush
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Post by nush on Nov 30, 2017 11:43:36 GMT
i am out
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Post by p2plender on Nov 30, 2017 12:50:42 GMT
where u looking?
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) of us were encouraged to join GS with the £100 bonus and high-ish rates, new joiners now receive no bonuses and a rate lower than can be achieved at RateSetter and LendingWorks (albeit for longer terms, granted). 
