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Post by misotu on Feb 5, 2018 9:09:26 GMT
Sorry, not clear enough in my original post. Mr M's Saturday email was the general one they sent out saying "sorry for the delay, we'll move your money some time this month". I had one too, but my account is still up and accessible.
He has never had any two-days warning email, so I don't think it's the servers! When they sent the vague "not much longer" email his funds were already in the process of being moved, so obviously he shouldn't have received that message at all.
Luckily Mr M is withdrawing on a daily basis, so even if he had had the two days notice it wouldn't have made any practical difference. Someone else might be mightily inconvenienced by it though.
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Post by misotu on Feb 4, 2018 9:55:56 GMT
Mr M received the same "we're going to move your money this month" email yesterday.
Which is curious, because he lost access to his account on Friday while they move his money, with absolutely no warning at all. :rolleyes: Really hope their systems aren't having a meltdown ...
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Post by misotu on Jan 29, 2018 20:47:47 GMT
Ah yes, I hadn't thought about the idea of the transfer date being notional. Makes sense.
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Post by misotu on Jan 29, 2018 9:17:01 GMT
Driving me nuts. The greyed-out cross doesn't respond for over a minute when I tap it. Email sent.
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Post by misotu on Jan 29, 2018 9:12:10 GMT
Thanks for the information aju, this is very helpful.
So when did Mrs aju regain access to her account? From what you've said, she lost access on the 18th but all the loans were bought and sold on that same day, although the confirmation email didn't arrive for over a week. Did she get access back on the 19th or not until the date of the confirmation email?
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Post by misotu on Jan 23, 2018 10:58:55 GMT
Statistically, duplication shouldn't make any difference to the overall return given the microloan size and sums involved, as you know. It's just a bit unrewarding to have so many dupes after all the effort to keep the exposure to £10 per borrower! But I haven't bothered to do a proper analysis of dupes for Mr M and I, in the long run it won't matter.
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Post by misotu on Jan 23, 2018 9:54:44 GMT
Ouch!
Mind you, I was complaining like hell about Mr M's slow lending at the time, while my funds shot out of the door whether repayments or new money. And my return remained stubbornly 0.3% below par while his was 0.2% above, with the algorithm seeming extremely reluctant to match him to the low-return A* borrowers. So perhaps all those discrepancies benefited us a bit, duplication-wise.
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Post by misotu on Jan 22, 2018 9:15:20 GMT
I did keep a bit of an eye on loan duplication when Mr M and I were both lending out in Core. It happened surprisingly infrequently in our case, and we don't have more than £20 lent out to any one borrower between us, so I was pretty sanguine about it. Hopefully that's the case with you and Mrs Aju.
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Post by misotu on Jan 20, 2018 10:22:38 GMT
This seems to be standard - when I recently sold my Access holding the sale process seemed to stall on the last 1% of the requested amount. Taken together with the loans that couldn't be sold at that time, I ended up with around £60 still invested at a return of 6%
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Post by misotu on Jan 20, 2018 10:13:48 GMT
That's bad news - I'm currently withdrawing from holding daily, and my repayments are not reinvested.
You are right, this was not clear at all from the information we had. I'm baffled as to why it should be necessary, too. Presumably this only applies to the Investing account, not the ISA account?
Since I'm not reinvesting, my only concern is funds building up in holding and not earning. That becomes a pressing issue if the process takes considerably longer than they have indicated - and since everything currently seems to take far longer than predicted I'm not optimistic.
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Post by misotu on Jan 20, 2018 9:31:45 GMT
Well, I must be thick too aju because I seem to have misunderstood the whole process! The deadline to sign up was 2 January I think, and the bumph I had said they expected the process to take around eight days. Foolishly, I thought this meant that my money would be moved over by around mid-January. From what you're saying, we'll be lucky to make the end of the tax year!
Neither Mr M nor I have heard anything from Zopa, so thanks for this. Can you tell if withdrawals from holding are possible during the transfer process?
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Post by misotu on Jan 11, 2018 10:42:35 GMT
It sounds like I have a tenner lent to the same IVA, aju My only non-Safeguard ISA default so far, but I have a number of very rocky Cs coming up to 4 missed payments. So many Cs make one payment and then give up :rolleyes: You would think there'd be some kind of clue for the underwriters to spot before handing out the loan ... I'm 100% Core and 69% Safeguard in my ISA, so it's looking ok so far.
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Post by misotu on Dec 19, 2017 17:02:46 GMT
Yes, we have to use the sim every 3 months. We just send a quick text to someone. It is a pain remembering though ... we do a calendar reminder. It has worked so far! Yes, I love the wording "a few investors". Just, you know, a couple of lenders. Maybe a handful. Nothing to worry about
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Post by misotu on Dec 19, 2017 10:59:35 GMT
I had a response from Zopa yesterday. Very quick and actually a much better quality of response than usual, I'm happy to say: I do apologise for the inconvenience caused when you attempted to place a sell request on the 16/11, which therefore lead to you not being able sell any of your loan contracts within your Access product.
This was due to a technical issue which caused delays with a few investors loan sales. This has now been fixed, and as your account stands, you can initiate a new loan sale within Access, and we believe this should run more smoothly.
In regards to the market rate adjustment fee this can apply to all investment products at Zopa. This means you could incur a market rate adjustment fee in Classic, Core, Plus as well as Access.
To explain in more detail, any loans that are being sold by current investors are put on what we call a secondary market (as opposed to brand new loans which are on the primary market), and if these loans are at a lower market rate, the investor placing the sale is charged a compensation fee. This is in order to make up the difference in interest and bring the loan to the same level as new loans, and enable them to be picked up by other investors. This rate is not dependent on the advertised rate of each investment product.
As a gesture of good will, due to the delay with your initial loan sell, Zopa will look to rebate the market rate adjustment fee, when you place a new sell request within your Access product. So I put my loans back up for sale yesterday and by this morning had sold around 85% of them. This is more like it We're on a pay-as-you-go Sim aju. We almost never make phone calls but we have to have a phone for emergencies and to receive one-time pass codes on a few of our accounts. So no included minutes and it's astonishingly difficult to find out what the terms of the deal are. The rate per minute is very high, even in the UK, though. But it costs us around £20 per annum, which is the cheapest deal we could find.
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Post by misotu on Dec 18, 2017 9:42:14 GMT
benaj You're absolutely right and in fact we have an account with around £9 credit still on it :rolleyes: Completely forgot about skype - we phone people so rarely - but it was kind of you to post a link and it certainly is a lot less expensive than using our mobile! I'll see what they say in response to the email. Like aju, I like to have the paper trail, although phoning them to insist that they give me my money, if it comes to that, will probably be more effective in terms of a quick resolution.
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