|
|
Post by robbobrum on Aug 16, 2016 21:40:34 GMT
Hi
Just something i noticed today.
So my £1000 was matched 2 days ago at a projected 7.1%. Today its down to 6.7%.
I was watching it through the day it said £30 had been repaid so 3 loans had been repaid straight away, i was like ok (one of the loans was 25% so he must of come into money fast). A few hours later that £30 has been re-invested at lower rates.
My questions are...
Should the £30 that was repaid have taken 4-5days in the queue to get re-matched?
is it possible my loans were re-calculated to get closer to the 6.7% they advertise? as they're short on high interest loans?
thanks
|
|
|
|
Post by blanik on Aug 17, 2016 6:16:02 GMT
Hi robbobrum, and welcome. Yes - sometimes loans are repaid within days - it could be that the lender got a better offer somewhere else so decided to go that way instead of Zopa. Early repayments would have gone into the repayments queue, which would have put it ahead of the the new money queue, so it is quite normal that it would have dropped into the processing area and be matched the same day. The rules in the processing are are a black box, only Zopa knows exactly how it works, but it does attempt to average out the rates. blog.zopa.com/2014/11/24/lending-queue-faq-blog/However I am surprised at the large change in your projected rate ( is this on the summary page, under products, expand plus )- if you had 100 loans at 7.1 after bad debt, and 3 repaid early, even if they matched at the lowest Plus rate I've seen of 2.79 gross, they should not have brought the average down by that much. If you go to loan book, view loan book, and sort by acquired date - you can see what gross rate these last 3 loans were for. |
|
|
|
Post by matthews on Aug 19, 2016 11:22:52 GMT
It's possible (how likely I don't know) that some of the loans are coming in and going out quite quickly. Have you looked at your full history file to see if more than the three loans had been repaid and re-matched? I've noticed over the last week or so across Plus, Classic and Access that some loans are only out for a couple of days (if that) and then repaid.
|
|
|
|
Post by lb on Aug 19, 2016 11:26:11 GMT
I think borrowers have 14 days to "change their mind" without any cost so there are probably many borrowers who do and repay
|
|
|
|
Post by wyndstryke on Aug 19, 2016 11:59:20 GMT
Seen this pattern a lot over the last few years, people get a better offer from somewhere or decide that they don't need the loan after all. It's normal. It's also fairly normal for loans to be repaid back after a few months instead of the full term.
|
|
spiral
Member of DD Central
Posts: 908 
Likes: 455
|
Post by spiral on Aug 19, 2016 16:46:40 GMT
|
|
