Page 2 of 2
Re: That's a Negative - Interest Rates
Posted: Sun Sep 20, 2020 6:29 pm
by gremlin
JackyJoll wrote: Sun Sep 20, 2020 6:04 pm
Wreckless Rat wrote: Sun Sep 20, 2020 7:21 am
A sector that’s not really been tested in a severe economic situation, like the one that’s likely in its way.
Not overly sure about p2p lending myself, but have read some horror stories about it.
Dunno if if drop much into it myself but good luck to anyone that does.
P2P sounds like lending money to people who have already scared the banks off.
Risk vs. Return, innit.
Re: That's a Negative - Interest Rates
Posted: Sun Sep 20, 2020 6:54 pm
by Wreckless Rat
gremlin wrote: Sun Sep 20, 2020 6:29 pm
Risk vs. Return, innit.
Yup.
I don’t know that much about it, but I did read you need to spread your loans over 100+ micro loans, to end up with something reasonably safe, and better still over multiple P2P lenders, and that seems like too much hard work to me...
Re: That's a Negative - Interest Rates
Posted: Sun Sep 20, 2020 7:27 pm
by Mr. Dazzle
Do you not get sites now which spread it out for you? I.e. you're paying into a big pot and people are borrowing from the same?
Downside of course is that you pay a cut to the organiser.
Sounds a lot like a bank
Re: That's a Negative - Interest Rates
Posted: Sun Sep 20, 2020 7:37 pm
by Wreckless Rat
Not sure, probably, but it’s not regulated as far as I know. With my luck.....
Re: That's a Negative - Interest Rates
Posted: Sat Sep 26, 2020 7:17 pm
by JackyJoll
cheb wrote: Sat Sep 19, 2020 1:57 pm
Talk by whom, anyone credible, or just a internet pundit?
There’s been talk, that’s all...
Re: That's a Negative - Interest Rates
Posted: Sun Sep 27, 2020 4:13 pm
by Mr. Dazzle
https://www.bbc.co.uk/news/business-54314971
Officially being considered...in as much as they're considering the mechanics etc. so that it's available if necessary.
Re: That's a Negative - Interest Rates
Posted: Sun Sep 27, 2020 5:34 pm
by WelshDragon
gremlin wrote: Sun Sep 20, 2020 5:41 pm
Banks have been put on notice that Base may go negative in Q4. For individual banking customers there won't be negative rates on savings, mortgages, etc. Wholesale customers will be impacted, although euro deposits have been negative for some years in markets.
Big system changes for most banks, not simply a case if sticking a minus sign in front of a number.
Rates going negative seems a bit like doing more of the same thing that hasn't really worked before. Very blunt instrument.
To the man with a hammer everything looks like a nail.......
Re: That's a Negative - Interest Rates
Posted: Sun Sep 27, 2020 6:40 pm
by Claude
Mr. Dazzle wrote: Sun Sep 20, 2020 7:27 pm
Do you not get sites now which spread it out for you? I.e. you're paying into a big pot and people are borrowing from the same?
Downside of course is that you pay a cut to the organiser.
Sounds a lot like a bank
Yep. The likes of finding circle do that.