slush
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Here to learn. Please be gentle.
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Post by slush on Jun 12, 2017 10:16:30 GMT
Its taking longer and longer to get re-invested each time. 7 days waiting for a month long investment now  |
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morris
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Post by morris on Jun 13, 2017 11:30:18 GMT
Has anyone heard anything about a Growth Street ISA. I did ask 'Freddy' some time back but he was non committal. This would tip the balance in favour of remain.
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mary
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Post by mary on Jun 14, 2017 9:05:52 GMT
Its taking longer and longer to get re-invested each time. 7 days waiting for a month long investment now 8 days at Market Rate - not a sniff. I assume the majority are now selecting Priority Rate and we will see rates decline again and again. 
This is no longer an invest and forget platform (which was the prime attraction).
And I can't tell where I am in the queue (like you can at Ratesetter) so no way to make an informed decision?
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iren
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Post by iren on Jun 14, 2017 11:23:57 GMT
Yes, the only information on matching times appears to be historical data covering a period to a point in April. No use at all. The information for an informed decision would be where I am in the market rate queue, the length of the priority queue, and the sum being matched each day.
Regardless of this information, GS clearly has more funds than it can lend, and the only solution is for some people to remove funds from the platform. Will probably be me very shortly.
Edit: Am withdrawing my funds. The sums don't work when its a long wait to match to a very short loan. Also, I had this site down as one I could leave and just check up on once a week. That's no longer the case.
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Post by khampson on Jun 14, 2017 14:38:35 GMT
Yes, the only information on matching times appears to be historical data covering a period to a point in April. No use at all. The information for an informed decision would be where I am in the market rate queue, the length of the priority queue, and the sum being matched each day. Regardless of this information, GS clearly has more funds than it can lend, and the only solution is for some people to remove funds from the platform. Will probably be me very shortly. Edit: Am withdrawing my funds. The sums don't work when its a long wait to match to a very short loan. Also, I had this site down as one I could leave and just check up on once a week. That's no longer the case. I agree but is there a suitable alternative? Assets Captal 3.25% to 7% (high queue times for GGBA and 20% into any 1 loan) Bondmason 7% (1.5% fee but a minimum of £5000 to invest) Ratesetter (2.2% to 3.2% rolling) Zopa plus (6.1% minimum £1000, 1% sell out fee) I don't see much of an alternative to Growth street, its no longer deposit and forget platform but where do we go from here?
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Post by df on Jun 15, 2017 1:00:32 GMT
Yes, the only information on matching times appears to be historical data covering a period to a point in April. No use at all. The information for an informed decision would be where I am in the market rate queue, the length of the priority queue, and the sum being matched each day. Regardless of this information, GS clearly has more funds than it can lend, and the only solution is for some people to remove funds from the platform. Will probably be me very shortly. Edit: Am withdrawing my funds. The sums don't work when its a long wait to match to a very short loan. Also, I had this site down as one I could leave and just check up on once a week. That's no longer the case. I agree but is there a suitable alternative? Assets Captal 3.25% to 7% (high queue times for GGBA and 20% into any 1 loan) Bondmason 7% (1.5% fee but a minimum of £5000 to invest) Ratesetter (2.2% to 3.2% rolling) Zopa plus (6.1% minimum £1000, 1% sell out fee) I don't see much of an alternative to Growth street, its no longer deposit and forget platform but where do we go from here? Funding Circle. I don't use auto-invest there, but I'm sure that 6%+ is achievable if you use this option. Unbolted. Approximately 8%-10%. No good for big investors or those who is in need of quick exit strategy, but it is the best paying hands-off platform I know :-)
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kaya
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Post by kaya on Jun 16, 2017 10:40:11 GMT
khampson Wise Alpha. 8% bond still available until the end of the week, if you don't mind a 5 year tie-in., plus various medium-long term secured bonds to various entities,
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Post by synchrony on Jun 16, 2017 11:31:46 GMT
Its taking longer and longer to get re-invested each time. 7 days waiting for a month long investment now 8 days at Market Rate - not a sniff. I assume the majority are now selecting Priority Rate and we will see rates decline again and again.
This is no longer an invest and forget platform (which was the prime attraction).
And I can't tell where I am in the queue (like you can at Ratesetter) so no way to make an informed decision?
Hello, I am a new poster but have been lurking for some time, having dipped into P2P last year starting with Ratesetter and now having branched out to other platforms. I have had money waiting for reinvestment at the Market rate now for 9 days. Normally I only use the market rate (mainly out of concern for the mechanism whereby rates keep falling if people use the Priority rate). However, out of interest I have set my most recent reinvestment to be at the Priority rate to compare investment speed. Thus far it is still waiting after 2 days, so still not very fast even then. I'm not planning to put more money in to Growth Street at present, which is a pity because I really liked the simplicity of it.
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Post by df on Jun 16, 2017 12:32:48 GMT
8 days at Market Rate - not a sniff. I assume the majority are now selecting Priority Rate and we will see rates decline again and again.
This is no longer an invest and forget platform (which was the prime attraction).
And I can't tell where I am in the queue (like you can at Ratesetter) so no way to make an informed decision?
Hello, I am a new poster but have been lurking for some time, having dipped into P2P last year starting with Ratesetter and now having branched out to other platforms. I have had money waiting for reinvestment at the Market rate now for 9 days. Normally I only use the market rate (mainly out of concern for the mechanism whereby rates keep falling if people use the Priority rate). However, out of interest I have set my most recent reinvestment to be at the Priority rate to compare investment speed. Thus far it is still waiting after 2 days, so still not very fast even then. I'm not planning to put more money in to Growth Street at present, which is a pity because I really liked the simplicity of it. I joined GS a month ago. Selected priority rate and was invested within 12 hours. Had money returned yesterday morning and it is still in the queue (at priority rate). I think as more investors join the platform, the queues will get longer and the rates will plummet. Probably this time next year the rates will be at around 5% if not less. I will keep my money there for a year because the addition of £100 bonus will make it a decent return even if the rates go down, but I won't invest any more funds during this period.
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Greenwood2
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Post by Greenwood2 on Jun 16, 2017 20:23:18 GMT
I think Growth Street need a longer term product to reduce the affect of delays in getting invested. For a one month product you need virtually immediate investment to get near the headline rate. It just isn't working any more.
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mary
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Post by mary on Jun 17, 2017 8:36:43 GMT
I think Growth Street need a longer term product to reduce the affect of delays in getting invested. For a one month product you need virtually immediate investment to get near the headline rate. It just isn't working any more. Agreed. I have a market rate order that is stilled unfilled after 11 days! Clearly everyone else is using priority rate, which will ratchet down the rates continually. I'm halting all further investments.
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IFISAcava
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Post by IFISAcava on Jun 17, 2017 10:42:43 GMT
11 days for me too - and I have a lot maturing in next week in addition.
Seems to me the rational thing for the low maintenance part of my P2P is to go for priority rate on GS now, and when the rates drop too low switch to Bond Mason or AC (7%er or 5.5%er, depending on how drag on those goes).
A gripe with GS is that you don't know where you are in the queue so decisions on choosing rate are made in the dark.
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IFISAcava
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Post by IFISAcava on Jun 17, 2017 10:47:16 GMT
it also seems to be the case that you can only choose one level of reinvestment (market or priority) for all your loan parts, which is a bit inflexible when you have several (as I do) coming up for reinvestment at various times. Again means checking frequently and adjusting as needed, which kind of wasn't the point with GS.
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IFISAcava
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Post by IFISAcava on Jun 17, 2017 10:48:14 GMT
I'm left wondering whether the 6.5% was essentially a loss leader to get the business volume in to start with, and it will end up around the 5% mark.
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mary
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Post by mary on Jun 17, 2017 17:13:46 GMT
I'm left wondering whether the 6.5% was essentially a loss leader to get the business volume in to start with, and it will end up around the 5% mark. If everyone moves to priority rate, then the rate will go down continually, just like at RateSetter, which I'm already exiting as loans mature.
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