Ratesetter not being transparent??

B279

If you are a RateSetter Investor have you noticed that you can’t now see where your money is waiting in the queue to be matched to a contract. This means you can’t decide if you want to leave it in the queue or lower the rate you have set. Why has this facility been removed? Are Ratesetter trying to hide this information to prevent investors making investment choices or is there some other hidden agenda?

When financial company’s start hiding information from its investors its time to start questioning their motives and ethics.

coyrls

Every change seems to be to discourage investors from setting their own rate. I can't see how to see where you are in the queue either. I think I will start taking my money out as the risk / reward is tilting in the wrong direction for me.

Alexland

Maybe rename to RateAcceptor?

firestone

may not be what your looking for but One quick way is to click the edit button on your loans(or when you pick your rate n a new loan) this shows how much money is in front of you at any rate per product and allows you to move your rate up or down

B279

Yes I know you can do that but that only tells you what is going to be in the queue at that time. Given the queue is dynamic and changing every few minutes it’s meaningless. Up until this week it was possible to see exactly where you were in the queue and change the rate. Now you don’t know where you are in the queue so have no idea. It looks like they don’t want investors to know where they are (keeping them blind).

soulsaver

Do you mean you can't see how much money is being offered in front of your chosen rate and what rate it's being offered at in each of the markets?


If so, why not just ask how to do that?

B279

The issue is before this week you could see where in the queue your money was now you can’t. They have removed the facility to do this - there is currently no way to check where your money is in any of the 5year, 1year or Rolling market queues. So why have they done this?

firestone

while you can still see the amount of money in front of you at each % rate as a gauge - RS are probably looking at their new product launching at the start of next month with 3 set rates and working their website and features around that as that's what they will want people to use (which they say will still have pick your own rate but which may prove pointless if it works how they want)
But 1 & 5 year will live on as legacy for a while but not said how long