chris1200
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Post by chris1200 on Aug 4, 2020 12:26:58 GMT
The plot thickens... That £1.26m figure in the Borrower column appeared there so quickly (i.e. almost all in one go) that either RS is writing some very large loans in A/P/M... or maybe, just maybe, we can see RYIs?? Will be interesting to see what we can tell from today's delivery figure and any overnight queue movement. Maybe APM you can, it sort of seemed to make sense last week when there was some movement in APM (as it last Tues/Weds?) but deffo not in 5 year, so far about £775k has gone from the £1.5M upto 6% queue and not a single borrower offer has been seen Could be they work differently somehow because of the way RS have them working Yeah I think it's very possible. Or, at least, because there are no 'real' buy orders in 5 Year, they just instantly match the RYIs to the sell orders and you never get to see them sitting in the 'borrower' column like you do in A/P/M (even if the underlying process is the same). All just speculation as ever, though. Regardless, from your 5 Year numbers above, it looks like the total delivery figure for today should be pretty decent.
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robski
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Post by robski on Aug 4, 2020 12:50:24 GMT
30mins on and 6% queue down to 450k, so thats now £1.05M RYI on 5 year give or take I believe
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chris1200
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Post by chris1200 on Aug 4, 2020 13:17:49 GMT
The plot thickens... That £1.26m figure in the Borrower column appeared there so quickly (i.e. almost all in one go) that either RS is writing some very large loans in A/P/M... or maybe, just maybe, we can see RYIs?? Will be interesting to see what we can tell from today's delivery figure and any overnight queue movement. This was sitting there at 2.8% for some time (decreasing ever so slightly), and then in an instant the entire thing was matched off with the 3% money. It just looks so manual that I struggle to believe it's 'real' borrowers (i.e. new lending)... But, then again, I've never seen the Borrower RS interface. Maybe they can't sit there viewing the market and controlling their borrowing like we can control our lending. Attachments:
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robski
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Post by robski on Aug 4, 2020 15:03:22 GMT
5Yr does seem to be done, I would say that in the order of £1.2M was matched today in this market 6% is now £300k and was £1.5M earlier
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robski
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Post by robski on Aug 4, 2020 15:06:02 GMT
The plot thickens... That £1.26m figure in the Borrower column appeared there so quickly (i.e. almost all in one go) that either RS is writing some very large loans in A/P/M... or maybe, just maybe, we can see RYIs?? Will be interesting to see what we can tell from today's delivery figure and any overnight queue movement. This was sitting there at 2.8% for some time (decreasing ever so slightly), and then in an instant the entire thing was matched off with the 3% money. It just looks so manual that I struggle to believe it's 'real' borrowers (i.e. new lending)... But, then again, I've never seen the Borrower RS interface. Maybe they can't sit there viewing the market and controlling their borrowing like we can control our lending. Hate to disappoint but weekly lending went up from just under a million to a bit over 2.5 today, seems to line up pretty well with the £1.3M you saw
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chris1200
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Post by chris1200 on Aug 4, 2020 15:24:53 GMT
This was sitting there at 2.8% for some time (decreasing ever so slightly), and then in an instant the entire thing was matched off with the 3% money. It just looks so manual that I struggle to believe it's 'real' borrowers (i.e. new lending)... But, then again, I've never seen the Borrower RS interface. Maybe they can't sit there viewing the market and controlling their borrowing like we can control our lending. Hate to disappoint but weekly lending went up from just under a million to a bit over 2.5 today, seems to line up pretty well with the £1.3M you saw That is less than ideal
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Post by RateSetter on Aug 4, 2020 16:18:20 GMT
Good afternoon. Today we have delivered £1.2m and the full update is below:
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robski
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Post by robski on Aug 4, 2020 16:44:12 GMT
5Yr does seem to be done, I would say that in the order of £1.2M was matched today in this market 6% is now £300k and was £1.5M earlier So looks like all todays release was again 5 year
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adrian77
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Post by adrian77 on Aug 4, 2020 18:29:50 GMT
well not disappointing unlike yesterday - that said this seems to be mainly the 5 year queue - I am not moving up the queue at all the moment which is disappointing
I note people near the front of the queue have not moved for about a week - I wonder if any "movement" further down the line is simply due to cancellations and/or expired contracts
I note from the statistics page there is about £180m due to be repaid - so I wonder just how much of that has been requested ? Hopefully less now but I am not convinced
Being cynical I expect the interest rate to be reduced to zero in 2021 and all the income going into the PF which will then go into repaying the loans - will that be enough - answers on a digital postcard
I thank you
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chris1200
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Post by chris1200 on Aug 4, 2020 21:09:24 GMT
So looks like all todays release was again 5 year This is very frustrating - might contact them tomorrow to ask if this is how they intend to continue. I note people near the front of the queue have not moved for about a week - I wonder if any "movement" further down the line is simply due to cancellations and/or expired contracts I'm afraid it's two weeks now with no movement at all, rather than only one.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Aug 4, 2020 21:48:38 GMT
So looks like all todays release was again 5 year This is very frustrating - might contact them tomorrow to ask if this is how they intend to continue. I note people near the front of the queue have not moved for about a week - I wonder if any "movement" further down the line is simply due to cancellations and/or expired contracts I'm afraid it's two weeks now with no movement at all, rather than only one. I suspect they will never advise that this is how it works. However, please let us know what the outcome is
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chris1200
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Post by chris1200 on Aug 4, 2020 21:59:34 GMT
I suspect they will never advise that this is how it works. However, please let us know what the outcome is Well they can’t exactly deny that the A/P/M queue hasn’t moved even one place forward in two weeks - my own queue position is proof. But yes, I’ll definitely let you know what I’m told.
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Post by Ace on Aug 4, 2020 22:14:20 GMT
So looks like all todays release was again 5 year This is very frustrating - might contact them tomorrow to ask if this is how they intend to continue. I note people near the front of the queue have not moved for about a week - I wonder if any "movement" further down the line is simply due to cancellations and/or expired contracts I'm afraid it's two weeks now with no movement at all, rather than only one. Surely it makes perfect sense from RS's viewpoint to clear out the highest lender rates first (which I presume is the 5 year product), and replace them with lower lender rates. Yes, it's very frustrating for those in the other queues, but RS may no longer care what retail lenders think as they don't need them going forward. I'm not sure of that last point as they may wish to continue with secured loans for retail lenders, since Metro haven't said they want those. If so, i would expect a completely new product for this. Lowering the average lending rate will also benefit those stuck as it will reduce the cost to the PF if the reduced-rate loans fail. I don't know the mechanics of the platform well enough to know whether the interest margin between the old and new lenders will go to reduce RS's/MB's losses or will go to the PF. Anyway, the 5 year queue will soon be clear, so I expect the 1 year queue will start moving again soon. I don't expect that my Access RYI will be repaid before the loan ends.
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Post by Deleted on Aug 4, 2020 22:55:11 GMT
Surely it makes perfect sense from RS's viewpoint to clear out the highest lender rates first (which I presume is the 5 year product), and replace them with lower lender rates. Yes, it's very frustrating for those in the other queues, but RS may no longer care what retail lenders think as they don't need them going forward. That, and the fact that they get to keep 1.5% of all 5-Year RYIs... helps keep their cashflow limping along until the MetroBank cavalry arrive
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robski
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Post by robski on Aug 5, 2020 6:58:53 GMT
6% £620k in 5 year for tracking purposes
APM £400k at 3% (A market)
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