« Crowdfunding vs P2P lendingWhat defines P2P lending ? »

3 comments

Comment from: Dave Martyn [Visitor]
Dave MartynThis is all very nice but pointless when you get blatant manipulation of Ratesetter’s Monthly Access platform as has happened twice in July 2012.

Lender offers have got steadily lower to the point where they dropped to 3.3% over the weekend of 21st / 22nd July and then right on cue this morning, 23rd July, there were 11 borrower requests totalling well in excess of £50000 at 3.3%.

Don’t anyone try telling me that this isn’t manipulation which, I strongly suspect is instigated by “City Boys” or similar, borrowing at low rates in order to “short” the market.

Once again the smaller investor is being shafted by the spivs in the City of London therefore I suggest a campaign of withdrawing funds from RateSetter until rates return to a more sensible level, there are a number of places where you can achieve 3.2% if not 3.3% monthly.

Fight back!

23/07/12 @ 11:00
Comment from: Dave Martyn [Visitor]
Dave MartynAn addition to my comment of 23/07/2012.

I posted the same comment on the RateSetter forum to which I received an email response from RS and following my reply to this, received a phone call from RS this morning.

I’m not suggesting for one moment any malpractice on the part of RateSetter but my comments appear to have rattled some cages and the expression “no smoke without fire” comes to mind.

I’ll leave readers to draw their own conclusions.

24/07/12 @ 11:41
Comment from: easteregg [Member] Email
With any market there will always be supply and demand. P2P is growing in popularity that rates to lenders are starting to fall, but then as borrower demand increases they will rise.

The monthly market on RateSetter has been extremely popular with lenders and borrowers and I'm sure this is a big part of their overall business.
24/07/12 @ 13:06