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  • FIRST POST
    • anotherperson
    • By anotherperson 14th Feb 18, 1:27 PM
    • 7Posts
    • 0Thanks
    anotherperson
    RateSetter Rolling Queue
    • #1
    • 14th Feb 18, 1:27 PM
    RateSetter Rolling Queue 14th Feb 18 at 1:27 PM
    Just started dipping my toe in p2p lending...

    I put 100 into the rolling market yesterday, the queue said:

    3.7% 303.0k
    3.7% 100
    3.7% 617.4k
    3.6% ...

    Today i logged in and looked at the queue to see the following:

    3.7% 263.9k
    3.7% 100
    3.7% 1.0m
    3.6% ...

    So my question is, why is there now 1m ahead of me in the queue, when it was only 617.4k yesterday? I expected the queue to get smaller!
Page 1
    • lisyloo
    • By lisyloo 14th Feb 18, 2:05 PM
    • 21,872 Posts
    • 10,578 Thanks
    lisyloo
    • #2
    • 14th Feb 18, 2:05 PM
    • #2
    • 14th Feb 18, 2:05 PM
    If the queue works from the top to the bottom (as I'd expect) then it looks to me that it got smaller.
    Any reason you're reading from bottom to top? as that seems counter-intuitive to me.
    • anotherperson
    • By anotherperson 14th Feb 18, 4:52 PM
    • 7 Posts
    • 0 Thanks
    anotherperson
    • #3
    • 14th Feb 18, 4:52 PM
    • #3
    • 14th Feb 18, 4:52 PM
    I can't post a screenshot so it's hard to explain. If you look at the rate setter queue there's a 3rd column for Cumulative which to me, show that the table should be read bottom to top.
    • MarkFromCornwall
    • By MarkFromCornwall 14th Feb 18, 5:10 PM
    • 760 Posts
    • 486 Thanks
    MarkFromCornwall
    • #4
    • 14th Feb 18, 5:10 PM
    • #4
    • 14th Feb 18, 5:10 PM
    So my question is, why is there now 1m ahead of me in the queue, when it was only 617.4k yesterday? I expected the queue to get smaller!
    Originally posted by anotherperson
    because others can put in money at any rate they choose (or remove it) at any time. Perhaps your confusion is because you are accepting "the rate to lend right now" and haven't spotted the "Are you a RateSetter expert? Set your own rate here." option which allows you to decide where you will join the queue.
    It's not my fault that nothing works: the bank suggested I install Trusteer Rapport.
    • anotherperson
    • By anotherperson 14th Feb 18, 7:35 PM
    • 7 Posts
    • 0 Thanks
    anotherperson
    • #5
    • 14th Feb 18, 7:35 PM
    • #5
    • 14th Feb 18, 7:35 PM
    Hi Mark, I did select the expert option and set my own rate at 3.7%. Therefore, I have been watching the queue to see what position I'm in, hence the confusion when more capital at the same 3.7% appears before me in the queue.
    • MarkFromCornwall
    • By MarkFromCornwall 14th Feb 18, 8:07 PM
    • 760 Posts
    • 486 Thanks
    MarkFromCornwall
    • #6
    • 14th Feb 18, 8:07 PM
    • #6
    • 14th Feb 18, 8:07 PM
    OK, I see what you mean, but I don't know the answer!

    I'm pretty sure you are right about which direction the queue works. I have two 'bids' in a queue at the same rate but put in on different dates so I can see from this that it's the money below you that is 'ahead' of you. Anyway it makes sense that the money that is ahead of you is by the lower 'bids' and the money that is behind you is by the higher 'bids'.

    Mark
    It's not my fault that nothing works: the bank suggested I install Trusteer Rapport.
    • anotherperson
    • By anotherperson 14th Feb 18, 8:40 PM
    • 7 Posts
    • 0 Thanks
    anotherperson
    • #7
    • 14th Feb 18, 8:40 PM
    • #7
    • 14th Feb 18, 8:40 PM
    Yes, i agree with all of what you say.

    I'm going to email RateSetter to clarify what exactly is happening here. It makes sense that those offering a lesser rate are ahead of you. However, someone offering the same rate at a later date and then skipping the queue does not make sense!
    Thanks
    • MarkFromCornwall
    • By MarkFromCornwall 14th Feb 18, 8:46 PM
    • 760 Posts
    • 486 Thanks
    MarkFromCornwall
    • #8
    • 14th Feb 18, 8:46 PM
    • #8
    • 14th Feb 18, 8:46 PM
    Agreed. Please let us know what they say.

    Mark
    It's not my fault that nothing works: the bank suggested I install Trusteer Rapport.
    • firestone
    • By firestone 14th Feb 18, 10:41 PM
    • 246 Posts
    • 106 Thanks
    firestone
    • #9
    • 14th Feb 18, 10:41 PM
    • #9
    • 14th Feb 18, 10:41 PM
    Yes, i agree with all of what you say.

    I'm going to email RateSetter to clarify what exactly is happening here. It makes sense that those offering a lesser rate are ahead of you. However, someone offering the same rate at a later date and then skipping the queue does not make sense!
    Thanks
    Originally posted by anotherperson
    Like most things P2P i would recommend the P2P independent forum for the best answers also there is a good blog Financialthing.com which has a guide on Ratesetter and the best way to use it - think MSE also suggest the best way to get the rate on RS in their review (and there is also P2Pblog.co.uk)
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