robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Jul 24, 2017 11:28:31 GMT
Must admit I pretty much changed my mind with the increasing rates I have drawn some down already, but looks like I will match at 3.5% today, I am happy to take a 0.5% markup on my previous low point on rolling. Think 3.5% may be my minimum though for now
If it doesnt match today i will draw it down, its pretty easy to just stick it back if rates go up again
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Jul 24, 2017 11:35:14 GMT
Must admit I pretty much changed my mind with the increasing rates I have drawn some down already, but looks like I will match at 3.5% today, I am happy to take a 0.5% markup on my previous low point on rolling. Think 3.5% may be my minimum though for now If it doesnt match today i will draw it down, its pretty easy to just stick it back if rates go up again Oh well i got that wrong, rolling matched up to 3.6%!
|
|
|
Post by keyboardworrier on Jul 24, 2017 11:37:16 GMT
I had an early repayment today and nearly reinvested the money at 3.1% , but then came to my senses and realised I could get 3.75 in the AC QAA with loans that are backed by assets, liquidity built in and a (discretionary) provision fund. I think I am going to keep an eye on RS, if I see some evidence that they have changed their ways I will be back.
ETA : I've just seen the comment above and I am amazed at what this has done to the rates!
|
|
jlend
Member of DD Central
Posts: 1,817
Likes: 1,444
|
Post by jlend on Jul 24, 2017 12:06:32 GMT
Probably not surprising we are seeing the impact on the rolling market first
Lenders could already easily withdraw money from the rolling market without incurring any fees - some have clearly done this.
I expect the rolling market rates will be higher for sometime - and quite volatile. The market rate will now be higher tomorrow
To some extent Ratesetter can manage the liquidity risk - they can reduce the number of new loans they accept, they have monthly repayments coming back from borrowers, they have said in the past that they have "friendly lenders" that can help out.
I think it will be a little while before we see the impact on the 5 year market
|
|
ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
|
Post by ashtondav on Jul 24, 2017 15:56:26 GMT
...and still no reply, or even acknowledgement, of my sell and close email...
|
|
|
Post by stevepn on Jul 24, 2017 15:57:03 GMT
Must admit I pretty much changed my mind with the increasing rates I have drawn some down already, but looks like I will match at 3.5% today, I am happy to take a 0.5% markup on my previous low point on rolling. Think 3.5% may be my minimum though for now If it doesnt match today i will draw it down, its pretty easy to just stick it back if rates go up again Oh well i got that wrong, rolling matched up to 3.6%! And when the free bail out is finished the rates will be below 3.0% again.
|
|
annie
Posts: 45
Likes: 16
|
Post by annie on Jul 24, 2017 16:06:18 GMT
Oh well i got that wrong, rolling matched up to 3.6%! And when the free bail out is finished the rates will be below 3.0% again. I'm taking up the offer and got standard email confirming they'll be in touch. If rates stay up and no other bad news then nothing to prevent re-investing later. Doubt the 6%+ rates will be there but don't want to miss the chance to reduce the £50K+ exposure free of charge.
|
|
jlend
Member of DD Central
Posts: 1,817
Likes: 1,444
|
Post by jlend on Jul 24, 2017 16:09:36 GMT
Oh well i got that wrong, rolling matched up to 3.6%! And when the free bail out is finished the rates will be below 3.0% again. Yep. They will have to come down if some of it's mainstream personal unsecured lending Looking at the websites offering personal loans - 2.9% from Ratesetter on comparethemarket.com for example. The personal lending market still makes up the majority of lending on Ratesetter - until they manage to build up their other types of borrower.
|
|
|
Post by investor1925 on Jul 24, 2017 16:32:09 GMT
Look like an awful lot of investors have sold out, there's only £1mil on the rolling market now & less than £5mil across all three. I remember when there was £20mil on the rolling market alone. When was that now.........Oh yea, about 3 weeks ago. Should get 3.5% before close today
|
|
angrysaveruk
Member of DD Central
Back and to the left..
Posts: 1,035
Likes: 655
|
Post by angrysaveruk on Jul 24, 2017 16:37:27 GMT
I think RS will be fine. There's still plenty of lending demand at the current low rates and a lot of the people selling out will hold loans at much higher rates than currently on offer. RS can increase current lending rates whilst still taking a cut of the return on these sellout loans to entice more lenders in. I have £36000 lent at around 6%. Im undecided so far if I'll sell or not. I don't think RS would struggle selling on my loans at 6% tho! That might well be the case. I think what you see with events like this is the classic Bulls vs Bears taking different perspectives on events. I am naturally a Bear so tend to see the downside more than the upside. This has certainly helped me avoid losses in the past but has also meant I have missed opportunities. If everyone had the same view on events then there wouldnt be a market because everyone would either want to sell or buy at the same time.
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Jul 25, 2017 14:25:12 GMT
Must admit I pretty much changed my mind with the increasing rates I have drawn some down already, but looks like I will match at 3.5% today, I am happy to take a 0.5% markup on my previous low point on rolling. Think 3.5% may be my minimum though for now If it doesnt match today i will draw it down, its pretty easy to just stick it back if rates go up again Oh well i got that wrong, rolling matched up to 3.6%! It reached at least 3.9% on the 24th. (I had old markers at 3.9% and 4.0%; the former went, the latter didn't.)
|
|
adrian77
Member of DD Central
Posts: 3,898
Likes: 4,130
|
Post by adrian77 on Jul 25, 2017 17:24:06 GMT
www.businessinsider.fr/us/uks-new-clearing-bank-unveils-model-2017-3/above may be interesting for some of us This is not my area of expertise but it looks to me as if RS are being honest and pro-active. I would rather have 3% and money being relatively safe (which I think it is?) than 8% with FC whom I think are burying their heads in the sand about the vast amount of money they have thrown at property developers. My bank offers 0.1% for an e-savings account - or they having a laugh or what! 3% does not seem so bad compared to this... I can really see turbulent times in the P2P market especially as I have zero confidence in the government to manage this ..if it blows up then there will be an Enquiry and lots of meaningless hot air and expenses...
|
|
warn
Member of DD Central
Curmudgeon
Posts: 606
Likes: 632
|
Post by warn on Jul 26, 2017 11:54:34 GMT
I can really see turbulent times in the P2P market especially as I have zero confidence in the government to manage this ..if it blows up then there will be an Enquiry and lots of meaningless hot air and expenses... ...but we'll be assured that "lessons have been learnt" and "steps will be taken".
|
|
|
Post by WestonKevTMP on Jul 29, 2017 15:50:12 GMT
...but we'll be assured that "lessons have been learnt" and "steps will be taken". Its worth noting in all this that RateSetter have now matched over £2,000,000,000 in loans; Now I appreciate people have the right to accept RateSetter's generous (?) offer to withdraw funds with no fees. But it's also worth noting that they've been operating for 7 years and have delivered every penny of capital and interest in that time. And I think that deserves some credit, appreciation and dare I say loyalty. They've paid £76,549,455 in lender returns. Money that a bank would have given to shareholders (or paid in PPI or LIBOR fines!). Of course I'm not happy with the AdPods lend. No-one is more frustrated than me about that loan. But let's appreciate what they have delivered, and hope that lessons have been learnt. Kevin.
|
|
warn
Member of DD Central
Curmudgeon
Posts: 606
Likes: 632
|
Post by warn on Jul 30, 2017 6:28:55 GMT
... I think that deserves some credit, appreciation and dare I say loyalty. Agreed. For what it's worth (not that anybody cares) I'm withdrawing simply as a free and (near-)instant way to get at my six-figure investment, which is predominately in 5-Year. Time marches on, circumstances change, and fast access becomes very attractive. With any luck, a good proportion will be heading straight back into Rolling.
|
|