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Post by dualinvestor on Dec 10, 2016 6:01:50 GMT
I stand by my prediction most money in IFISA will be deposits that are already in P2P By extension, do you reckon the £45 million or so that Assetz Capital has now attracted into its QAA/30DAA accounts was also already in P2P? I, for one, am convinced it was mostly languishing in bank and building society deposit accounts before it spotted the bright lights of 3.75% No and frankly in the grand scheme of things £45 million in any fund of a sector with trillions invested is non-indicative of anything.
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SteveT
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Post by SteveT on Dec 10, 2016 7:32:57 GMT
No and frankly in the grand scheme of things £45 million in any fund of a sector with trillions invested is non-indicative of anything. And yet that £45 million has fundamentally changed the characteristics of Assetz Capital and supported a material reduction in their loan rates.
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Post by dualinvestor on Dec 12, 2016 4:59:52 GMT
No and frankly in the grand scheme of things £45 million in any fund of a sector with trillions invested is non-indicative of anything. And yet that £45 million has fundamentally changed the characteristics of Assetz Capital and supported a material reduction in their loan rates. And the ISA is not lunched!
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star dust
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Post by star dust on Dec 12, 2016 5:13:55 GMT
And yet that £45 million has fundamentally changed the characteristics of Assetz Capital and supported a material reduction in their loan rates. And the ISA is not lunched! Nope, bed and breakfast only 
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Post by dualinvestor on Dec 12, 2016 7:12:34 GMT
And the ISA is not lunched! Nope, bed and breakfast only Apparently against ISA rules
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Post by Deleted on Dec 12, 2016 7:18:19 GMT
Nope, bed and breakfast only Apparently against ISA rules Is Supper Allowed?
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happy
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Post by happy on Dec 12, 2016 11:02:36 GMT
No and frankly in the grand scheme of things £45 million in any fund of a sector with trillions invested is non-indicative of anything. And yet that £45 million has fundamentally changed the characteristics of Assetz Capital and supported a material reduction in their loan rates. , don't you think overall downward market pressure on rates has more to do with this than the QAA/30Day? When you look at the "so-ca!led market leader in SME lending " FC right now with over £3 million of allegedly A+ loans available on the primary market all at 7.5% and that is only 6.5% to lenders after fees and before losses Unsecured! I was getting almost double that 18 months ago for A+/A loans on FC. Personally I feel that FC fixed rates have done more to surpress SME lending rates across the market and, outside of niche market players, those that don't follow will have to either further increase risks to lenders or see their loan origination dry up. FC are so confident the lender market can tolerate these rates they have recently reduced them further so maybe the writing is on the wall for even lower rates.
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SteveT
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Post by SteveT on Dec 12, 2016 11:15:47 GMT
There's certainly been some downward drifting of rates across the market but my point was that AC's launch of the QAA, and the resulting flood of funds from deposit account savers who think 3.75% "instant access" looks attractive, was instrumental in their strategic repositioning from lending in the (relatively niche) 10-13% secured bracket to lending in the (much larger) 7-9% secured bracket. Had AC not been able to use cheap QAA funds to fill most of these loans, they'd never have been able to afford the underwriting needed.
Whilst the QAA isn't yet IFISA-able, I think the transformation it already triggered on AC neatly illustrates what's likely to happen on many P2P platforms when a wave of Cash ISA deposits starts seeking an extra couple of % in IFISAs.
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Post by Ton ⓉⓞⓃ on Dec 12, 2016 11:31:29 GMT
Does anyone know if Zopa is allowing new lenders to put their money in, while we have this moratorium?
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aju
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Post by aju on Dec 12, 2016 11:53:22 GMT
They are not allowing new funds and are just reversing it, a FAQ says it would take 3/4 business days to return, at present. I'm guessing this means any lender new or existing. Here is the help text from the My Investing (lending_summary) screen - " We have a limit for new money into the platform so that we can aim to invest your money in a reasonable time. This limit only affects new money into the platform: not your repayments or funds already in your holding account." there is more info here secure2.zopa.com/lender/communication/lending_capyou do have to be logged in though. I guess if the lender doesn't get the "We are not accepting new money transfers" box, just after the "Products/Transfer in from a bank line", then they might be able to add funds. |
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Post by dualinvestor on Dec 12, 2016 16:32:45 GMT
Does anyone know if Zopa is allowing new lenders to put their money in, while we have this moratorium? Would have thought not, you can open an account still but I suppose when you make a deposit it will treated as any other.
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marie
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Post by marie on Dec 13, 2016 12:50:07 GMT
Plus is currently lending out an average £469,023.75 per day with £867,460.76 queued. Assuming that the majority of repayments go back into Classic (looks that way from the way the Classic queue has been behaving since the platform limit), surely they must open up for bank transfers soon, to be able to keep lending to the higher risk market without offering safeguard protection?
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aju
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Post by aju on Dec 13, 2016 15:58:49 GMT
I loaded my PLUS account up with funds from classic - took about 2.4 months to get approx 1000 when PLUS was opened earlier in the year and then I turned both to relend in same product. The reason i do that is twofold really. - Headline rates are only valid if relending if you just send repayments and interest back to classic then you must take into account that the PLUS interest rate is only 52% approx of the expected rate. Sadly despite what the news would have us believe ZOPA lending is not like bank lending.
- The main reason I relend to same though is I want to give Plus a fair chance and more importantly I want to be able to analyse the results as well so I need the PLUS investment to be easily distinguishable from classic.
One of my other aims was to only commit 10% of Zopa lending to PLUS until more is known about its performance. At the moment I do not have any defaulters at all in my Plus book whereas I know others have not faired quite so well. Its very easy to not notice that zopa is lending to classic after any changes I think. |
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Post by newlender on Dec 13, 2016 17:34:11 GMT
I have 50% in Z+ and have 4 defaulters owing £80 in total. Then it's 25% in each of the other two. If inflation starts to rise and bank rate doesn't, expect more money to go into Z+. If we can catch the re-opening of new money bank transfers the cash should get lent out very fast. I'm keeping a few £K in my current account and logging in twice a day to see if I can be first in the 'new' queue. I'm drawing down from RS as their rates are very poor at the moment and I'm not re-investing until they rise above 5.8% or thereabouts. So it's Z+ as soon as I can. For what it's worth, I think that the projected default rate of Z+ is very pessimistic - some of my borrowers have a better rating than me, I'm sure.
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aju
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Post by aju on Dec 13, 2016 18:07:06 GMT
I think I'm gonna have to do a bit more spreading as the current account interest rates have dropped quite a bit. I'm sticking with Zopa though as I feel I know and understand it better than the others and at my time of life the risks elsewhere may be more fruitful until the negatives kick in, I tend to take a longer view but i'm not planning on losing anything soon, well at least not me shirt anyway. ;-)
I'm still not sure I understand the real reason for the cap I guess there is way too much devaluation money (oops sorry QE) around ;-).
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