robski
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Post by robski on Aug 3, 2020 14:37:05 GMT
Interesting that RS seem to have matched 5 year to 6.1% today, its creeping upwards
I do now wonder if they almost have a minimum to RYI per day to avoid outright rebellion amongst the natives. Will be interesting to see what they have totalled today, its been impossible to judge as until a couple of hours ago 5 year was still processing repayments from borrowers
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aju
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Post by aju on Aug 3, 2020 14:40:21 GMT
I was not really correcting your post I see - I'll have to keep in mind that others have different interpretations of " Are you sure that's actually correct... in fact..." But yes, the A/P/M market looks somewhat boring indeed today - which is nice! We still have almost £900k at the standard going rate not yet gobbled up. I really, really hope we keep seeing some slightly reduced new lending like this... Ah so not one of the poor millennial's then! Sadly you won't know if it was slow new lending or re-lending or RYI until the 0.4M or worse 0.3M RYI figures appear later for the day (I do feel for the person who gets increasingly annoyed at the dailies). At the low day rate even when you reach the front - assuming you haven't already - that could take >3 days to clear at last weeks RYI rates. (day 1 pm start = 0.1M, day 2 = 0.3M, day 3 = 0.3M, day 4 = 0.2M or someting along those lines and assuming it's a one shot affair - I don't know that of course just musing) Good luck!
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chris1200
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Post by chris1200 on Aug 3, 2020 14:45:40 GMT
Sadly you won't know if it was slow new lending or re-lending or RYI until the 0.4M or worse 0.3M RYI figures appear later for the day My point was more that in recent days we've seen the full available amount gobbled up (including over £1m in a day), and this has certainly not been for RYIs (based on the daily total, minus the amount we know went to 5 Year). So just having a large amount 'left over' is indicative of less new lending (for now, at least). (I'm also not sure what you mean by 're-lending' here. It's either new lending or RYIs that cash goes towards - only two options!) Edit: I've just realised you thought I meant I had £900k personally in the RYI queue??? I've got £1,400 mate!! I was obviously talking about the amount available for lending in the A/P/M market! Haha... Christ, the idea of being that rich. I guess some of the lot on here are, though.
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robski
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Post by robski on Aug 3, 2020 14:48:41 GMT
6.2% also gone in 5 year now
Interesting RS seem to be following a different strategy to what we saw before, matching much higher
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aju
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Post by aju on Aug 3, 2020 14:57:48 GMT
Sadly you won't know if it was slow new lending or re-lending or RYI until the 0.4M or worse 0.3M RYI figures appear later for the day Edit: I've just realised you thought I meant I had £900k personally in the RYI queue??? I've got £1,400 mate!! I was obviously talking about the amount available for lending in the A/P/M market! Haha... Christ, the idea of being that rich. I guess some of the lot on here are, though. Now that made me laugh, I guess we all wish that one. Nice thought though!
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Greenwood2
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Post by Greenwood2 on Aug 3, 2020 15:04:39 GMT
I was not really correcting your post I see - I'll have to keep in mind that others have different interpretations of " Are you sure that's actually correct... in fact..." But yes, the A/P/M market looks somewhat boring indeed today - which is nice! We still have almost £900k at the standard going rate not yet gobbled up. I really, really hope we keep seeing some slightly reduced new lending like this... I'm amazed people will consider lending at these rates (or in fact 50% of these rates I suppose). And with the prospect of the platform going into wind down, they really can't have their eye on the ball.
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aju
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Post by aju on Aug 3, 2020 15:06:17 GMT
6.2% also gone in 5 year now Interesting RS seem to be following a different strategy to what we saw before, matching much higher I'm not sure they have much choice, my settings are lending turned off but many will be turned on even if they are trying to sell. Not everyone spots these nuances. The new A/P/M products are by their very nature a simple lend and forget. That's clearly what RS wanted and whilst many of us come from a more opportunist slant of P2P in that we can set our own rates then we be more likely to have higher settings. That said I sort of turned off relend and then turned it back on when I realised it might be worth keeping the older products if only to have access to more tools that newer lenders don't seem to have. I just set relends at the max rate on all products and remove to holding. Whilst some days we like to imagine that we are the only people on RS and therefore everyone knows how to play the system sadly we are but a pin prick or smaller in the wider RS world. That said 6.2% is very tempting, even at 3.1% after the rate reductions its still a good rate - but no I jest I'm not biting other than for minor adjustment if a get a £10 lend taken up on one of our 5Y/1Y fixer rates.
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chris1200
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Post by chris1200 on Aug 3, 2020 15:07:29 GMT
I see - I'll have to keep in mind that others have different interpretations of " Are you sure that's actually correct... in fact..." But yes, the A/P/M market looks somewhat boring indeed today - which is nice! We still have almost £900k at the standard going rate not yet gobbled up. I really, really hope we keep seeing some slightly reduced new lending like this... I'm amazed people will consider lending at these rates (or in fact 50% of these rates I suppose). And with the prospect of the platform going into wind down, they really can't have their eye on the ball. They are our only hope. In them we trust.
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aju
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Post by aju on Aug 3, 2020 15:15:46 GMT
I'm amazed people will consider lending at these rates (or in fact 50% of these rates I suppose). And with the prospect of the platform going into wind down, they really can't have their eye on the ball. They are our only hope. In them we trust. Not from me matey, just caught some more returns from the 5Y, albeit @10% settings, safely deposited into my holding account. Will be moved to our bank later in the week when we are expecting yet more returns...
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robski
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Post by robski on Aug 3, 2020 15:17:09 GMT
6.2% also gone in 5 year now Interesting RS seem to be following a different strategy to what we saw before, matching much higher I'm not sure they have much choice, my settings are lending turned off but many will be turned on even if they are trying to sell. Not everyone spots these nuances. The new A/P/M products are by their very nature a simple lend and forget. That's clearly what RS wanted and whilst many of us come from a more opportunist slant of P2P in that we can set our own rates then we be more likely to have higher settings. That said I sort of turned off relend and then turned it back on when I realised it might be worth keeping the older products if only to have access to more tools that newer lenders don't seem to have. I just set relends at the max rate on all products and remove to holding. Whilst some days we like to imagine that we are the only people on RS and therefore everyone knows how to play the system sadly we are but a pin prick or smaller in the wider RS world. That said 6.2% is very tempting, even at 3.1% after the rate reductions its still a good rate - but no I jest I'm not biting other than for minor adjustment if a get a £10 lend taken up on one of our 5Y/1Y fixer rates. They have total choice, they have clearly processed up to a limit and then stopped my early afternoon all last week I wonder if the now likely take over will result in different strategy by RS. They wont want (Metro I mean) loads of negative press about RS such as trustpilot reviews. If you buy a brand you dont want the old owners to destroy it in the last few months...
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robski
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Post by robski on Aug 3, 2020 15:18:03 GMT
They are our only hope. In them we trust. Not from me matey, just caught some more returns from the 5Y, albeit @10% settings, safely deposited into my holding account. Will be moved to our bank later in the week when we are expecting yet more returns... 5 year you can send directly to holding no need to set high rates
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iRobot
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Post by iRobot on Aug 3, 2020 16:15:20 GMT
I wonder if the now likely take over will result in different strategy by RS. They wont want (Metro I mean) loads of negative press about RS such as trustpilot reviews. If you buy a brand you dont want the old owners to destroy it in the last few months... I suspect between them, RS / MB can 'incentivise' sufficient borrowers to maintain a decent enough TP score - especially when, going forward, the only folk looking at TP who count for anything will be borrowers. Even then, how many prospective borrowers will care what anyone on TP has to say about anything? They're not going to RS because they're being discerning ...
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Post by RateSetter on Aug 3, 2020 16:20:19 GMT
Good afternoon. Today we have delivered £0.3m, and the full update is below:
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chris1200
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Post by chris1200 on Aug 3, 2020 16:29:50 GMT
Good afternoon. Today we have delivered £0.3m Meanwhile £0.9m sits in A/P/M at the standard going rate, asking to be lent. Perhaps you will let us feast on this bounty tomorrow, RateSetter? ( adrian77, I'm beginning to sound like you )
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aju
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Post by aju on Aug 3, 2020 16:40:10 GMT
Good afternoon. Today we have delivered £0.3m Meanwhile £0.9m sits in A/P/M at the standard going rate, asking to be lent. Perhaps you will let us feast on this bounty tomorrow, RateSetter ? ( adrian77 , I'm beginning to sound like you ) Well interestingly they must still be sitting on whatever you think is available as the Volume Lent inc yesterday is 0.45M so if i am correct there was only 0.75M in total supplied from both... This actually includes yesterdays volume lent too! Just thought it might be interesting to see. I took those figures just after RS announced the daily RYI. Of course the lending volumes are 24 hours a day - I think - but RYI only happens in business hours.
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