Zopa Selling times

Mr Smith

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Zopa Selling times Jun 14, 2019 7:04:02 GMT

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Post by Mr Smith on Jun 14, 2019 7:04:02 GMT

Anyone got a handle on Zopa selling times ?

I'm through with P2P for various reasons and I managed to sell up a large portion of my account 2 weeks ago in a day, maybe 2, approx 75% of my investment

Since then though the time seems to be increasing and I'm now down to 7% of my original holdings but it seems to be going much more slowly.

Maybe it's just the quality of the loans taking longer to sell perhaps.

The FC lot seem to be having real problems with selling times now I'm just hoping this hasn't spreads to Zopa.

I've used Zopa from the start and have made a healthy return from them over all ( 5% ) and very happy with their service.

I will invest in Zopa in the future but right now I see a big downturn on the horizon so sgtarting to hedge my bets.

Last Edit: Jun 14, 2019 7:04:30 GMT by Mr Smith

yorkman Posts: 128 Likes: 56	Zopa Selling times Jun 14, 2019 7:14:03 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by yorkman on Jun 14, 2019 7:14:03 GMT If there are any defaults on the loans they won't sell. After trying to sell of my Plus portfolio I have a rump of loans that I cannot sell (around £40) that each month loose more and more.

Mr Smith

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Zopa Selling times Jun 14, 2019 7:24:51 GMT

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Post by Mr Smith on Jun 14, 2019 7:24:51 GMT

Jun 14, 2019 7:14:03 GMT yorkman said:

If there are any defaults on the loans they won't sell. After trying to sell of my Plus portfolio I have a rump of loans that I cannot sell (around £40) that each month loose more and more.

My loans are still in the selling queue, I'd expect the sale to end if I've only bad loans left.

After the first large chunk sold I thought I'd be out within a week, now heading for 3.

benaj
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Zopa Selling times Jun 14, 2019 7:50:43 GMT

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Post by benaj on Jun 14, 2019 7:50:43 GMT

Sale requests on Z are similar to FC: only live loans can be sold. Also, loans can not be sold near repayment date until the repayment been collected. Back in Nov '17, it took Z 3 months to sell 97% of my plus holding, as Plus at the time had a higher portion of D&E loans.

Investors on ISA transfer seems to have better exit experience.

Last Edit: Jun 14, 2019 7:52:08 GMT by benaj

zlb
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Zopa Selling times Jun 15, 2019 7:59:50 GMT via mobile

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Post by zlb on Jun 15, 2019 7:59:50 GMT

Jun 14, 2019 7:50:43 GMT benaj said:

Sale requests on Z are similar to FC: only live loans can be sold. Also, loans can not be sold near repayment date until the repayment been collected. Back in Nov '17, it took Z 3 months to sell 97% of my plus holding, as Plus at the time had a higher portion of D&E loans.

Investors on ISA transfer seems to have better exit experience.

how do ISA transfer have better experience? I sold my loans and then transferred, partially. Do you mean those who do whole transfer?

ashtondav
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Zopa Selling times Jun 15, 2019 8:40:23 GMT

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Post by ashtondav on Jun 15, 2019 8:40:23 GMT

ISAs do not have a better experience. There is no “transfer” from non isa to isa. The sellable loans are sold and the proceeds placed in the isa. Your non isa account will be left with the unsellable loans.

Similarly if you want to transfer your Zopa isa to another provider you can only sell your sellable loans and the proceeds will go to your new provider. The “rump” of unsellable loans will be transferred to a non isa Zopa account account, thereby losing you valuable tax savings.

Trapped in the slimeball that is AssetzCapital. May they suffer for eternity…

benaj
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Zopa Selling times Jun 15, 2019 12:17:50 GMT via mobile

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Post by benaj on Jun 15, 2019 12:17:50 GMT

Jan 28, 2018 1:40:28 GMT aju said:

Okay Mrs's AJU's SG transfer from Invest to ISA has completed - I assumed it would arrive as ISACore with SG cover but in fact it is "Zopa Classic" under the ISA umbrella.

The general time window is as follows.

16/1 11:46 Email prompt that transfer will happen in 2 working days.
18/1 PM Lost all access to both Invest and ISA data on Mrs Aju's account
26/1 18:05 Email received to say all is completed. 23p short of full allocation

So what actually happened under the hood.

In invest Zopa Classic Side
18/1 @14:02 535 loans are sold by rapid return @ approx 20-22 loans per minute and Values does not seem to be a factor. (Probably pre loaded or something)
18/1 @14:32 All loans for transfer have been sold - averaged at 17.83 loans a minute.

In ISA Zopa Classic side
18/1 @14:02 Loans start buying.
18/1 @14:30 all loans are bought up and fully invested.

I'm guessing Invest and ISA transfer platforms were not clock synchronized as Mrs Aju seemed to buy 1 ISA loan before they were all sold from the Invest side!.

The most interesting and also annoying thing is that 3 loans were closed within 5 days of purchase with one loan only lasting for 30 hrs before closing. Good thing is though I got 5p interest from these 3 loans all told!.

The really annoying thing is that my statement analyser does not deal well with rapid returns so that's a bit of work I will have to pick up. Also it seems that a few of the new loans are already in Mrs Aju's existing ISAcore book as well but not really an issue with SG cover.

Now all I have to do is wait for my invite to transfer.

Not as bad, may be it was breeze for a classic transfer as it has less defaults and arrears

Mr Smith Posts: 127 Likes: 34	Zopa Selling times Jun 18, 2019 7:22:00 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by Mr Smith on Jun 18, 2019 7:22:00 GMT My Zopa selling has ground to a halt now with around 5% of funds still in. Number of loans: around 500 Number of late payments: around 90. I see no reason for the sales to grind to a halt.

benaj
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Zopa Selling times Jun 18, 2019 7:46:02 GMT

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Post by benaj on Jun 18, 2019 7:46:02 GMT

Jun 18, 2019 7:22:00 GMT Mr Smith said:

My Zopa selling has ground to a halt now with around 5% of funds still in.

Number of loans: around 500
Number of late payments: around 90.

I see no reason for the sales to grind to a halt.

blog.zopa.com/2017/04/21/explaining-the-secondary-market/

I know it was frustrating when the loans can't be offloaded immediately. Assuming you are selling the plus, the D&E loans can't be sold to Core investors. It is highly likely D & E 'live' loans are pending repayment but not classified as arrears, which can't be sold yet. The investors already bought the loans parts aren't buying your loan part again due to diversification settings by Zopa.

If in doubt, contact Zopa to have a look at your portfolio.

Mr Smith

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Zopa Selling times Jun 21, 2019 6:39:53 GMT

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Post by Mr Smith on Jun 21, 2019 6:39:53 GMT

My selling basically just ground to a halt but the sale was still ongoing, I couldnt see any reason for this.

I stopped all the sales and restarted them immediately.

48 hours later, 50% of what's left has sold, so still have 2/3% of my original investment in there.

All said and done I will be left with about 1% of bad debt. Which I think is acceptable.

I'll come back to Zopa in a year or two when the current s**tstorm is over.

Post by Mr Smith on Jun 14, 2019 7:04:02 GMT

Post by yorkman on Jun 14, 2019 7:14:03 GMT

Post by Mr Smith on Jun 14, 2019 7:24:51 GMT

Post by benaj on Jun 14, 2019 7:50:43 GMT

Post by zlb on Jun 15, 2019 7:59:50 GMT

Post by ashtondav on Jun 15, 2019 8:40:23 GMT

Post by benaj on Jun 15, 2019 12:17:50 GMT

Post by Mr Smith on Jun 18, 2019 7:22:00 GMT

Post by benaj on Jun 18, 2019 7:46:02 GMT

Post by Mr Smith on Jun 21, 2019 6:39:53 GMT