amphoria
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Post by amphoria on Sept 10, 2017 18:41:09 GMT
i know it is the month-versary of the loan. but what count as monthversary? the date loan started or drawdown? It's the end date of the loan.
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amphoria
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Post by amphoria on Sept 4, 2017 10:35:10 GMT
That's not the wording used by Zopa on my dashboard under Z+. At the end of July it read "At 10.6% Projected return of 6.4%". At the end of August this had changed to "At 10.6% Projected return of 5.3%". This can only be interpreted as the projection based on the loans at the end of each month. Thus, in my case, the projected return had reduced by 1.1% with the same mix of loans as I stopped re-investing repayments at the end of July. Obviously, this is my projected return and your experience my differ.
I have just remembered that the email quoted 5.6% as the expected return going forward on Z+ as I noted at the time that this was more than I was getting on historic loans on Z+.
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amphoria
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Post by amphoria on Sept 2, 2017 17:15:18 GMT
An update to the graph that I posted on July 31st showing that Zopa's expected return now aligns with the XIRR after the reduction to the Z+ expected returns in August. My expected returns are now 4.7% for Z Classic and 5.3% for Z+.
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amphoria
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Post by amphoria on Aug 1, 2017 22:28:53 GMT
Very nice graph, amphoria, but to be fair it would look less alarming if the XIRR axis went to zero. It was intended to illustrate the difference between the XIRR and the Zopa calculated Expected Return and therefore I felt that it was best to zoom in. It is fair to point out that, despite the defaults, Plus is still returning more than Classic at present as the combined XIRR is greater than 4.8%.
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amphoria
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Post by amphoria on Jul 31, 2017 22:02:01 GMT
amphoria - nice clear analysis. Have you noted any correlation in risk, term or loan purpose? Were the clusters in June and August explained by your initial investments? Nothing obvious from term or loan purpose. Of the 21 defaults 6 are for Car, 6 are for Home improvements and 5 are for Consolidate existing debts. As expected the risks are mostly D's and E's, though there are 5 C1's. I am assuming at this stage that the lump sums in June and August just mean that there are sufficient loans in those months to give statistically meaningful results. I suppose what we don't know is if Zopa have tightened up their lending criteria since last summer.
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amphoria
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Post by amphoria on Jul 31, 2017 20:10:58 GMT
I have today also suspended reinvesting repayments into Plus, although I am not selling out for the time being. To help explain why I have produced the following chart. As I have been re-investing repayments from Classic into Plus I cannot dis-aggregate them, so the chart shows the combined XIRR. The expected return is calculated from the weighted average of Zopa's own calculated returns for my Classic and Zopa accounts which are currently 4.8% and 6.4% respectively. I started investing in Plus in June 2016 and made lump sum investments in June and August of 2016, all resulting in £10 loans. As can be seen there is a significant gap between Zopa's expected return and the XIRR. I was prepared to live with this difference until I got the 3 defaults in this month which all came out of the blue because none of them had 3 consecutive missed payments in June. One was in Arrangement which was then put into default even though some payments were continuing. One was an IVA after 2 missed payments, which admittedly is outside Zopa's control. The most recent was defaulted after only 1 missed payment and a string of full payments going back to June 2016. So far that's all the comments say, although I am expecting something like an IVA or bankruptcy to appear eventually. On top of this I calculated my current default rate for June and August 2016 as 8.9% and 6.4% respectively. Although no other month has had more than 1 default, the number of loans is much smaller so I have probably just been lucky. Note that the defaults in the chart are the month of the default and not the month the loan was taken out. 17 of the 21 defaults are from June and August. And all of this is during a relatively benign economic period. Thus I am starting to feel much less confident in the performance of unsecured consumer loans.
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amphoria
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Post by amphoria on Jul 31, 2017 13:51:14 GMT
Surely not pennies if I have a few £k at 2.5% when 3.5% is available? But I am new to this (only looked at it this weekend) so please educate me, eg if I buy rolling at say 3.5% is that rate guaranteed until I sell out, or might there be insufficient demand for loans resulting in my cash suddenly earning 0%? You don't say what market you are asking about but given the rates quoted I will assume that it is the rolling market. In this case the maximum loan length (in normal market conditions) is 30 days. However you can be given a shorter loan length from the outset and the loans can be repaid early. After that you will need to submit again if you are using manual re-investments.
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amphoria
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Post by amphoria on Jul 21, 2017 20:09:01 GMT
It looks like the Balance Statement is only updated once a day. The difference with my account is interest credited to the GBBA today which appears on the Dashboard but not on the Balance Statement.
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amphoria
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Post by amphoria on Jul 18, 2017 7:54:30 GMT
I've just had the interest earned on 1st May and 1st June repaid back to the normal 30DAA account. So far all the capital has been repaid at the expiry of 90 days.
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amphoria
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Post by amphoria on Jul 12, 2017 10:42:29 GMT
If the list of accounts appears at the left hand side, then the browser window is wide enough and the calendar popup works. However, if the list of accounts appears at the top, then you are in the other mode and the calendar popups don't work. I have a large screen and my Chrome window width is set very close to the point where the mode change occurs to the extent that I only had to increase the width by around 10 pixels for the calendar popups to start working again.
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amphoria
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Post by amphoria on Jul 7, 2017 21:46:05 GMT
If it's of any help I still have #327 in my GBBA account, although that raises the question of why the answer to your Q&A is so difficult.
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amphoria
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Post by amphoria on Jul 2, 2017 17:04:56 GMT
My last match took 13 days from 7th June at the market rate. I discovered when I logged in yesterday that 80% of this money had repaid after only 7 days. Now re-invested at the priority rate as I could not afford to wait another 2 weeks.
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amphoria
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Post by amphoria on Jul 1, 2017 8:19:21 GMT
Since the new products started (core and ISA) I can't find the loan book overview any more. I can see my lending summary but not the overview. The overview used to show how many loans you had in safeguard and non safeguard and how many missed payments in each. I included this info on my end of month spreadsheet. Has it gone all together or is it just hiding. Or is using an iPad the problem? thanks Are you referring to the information that you get when you click on Loan Book at the top of the screen and then Show details on loan performance?
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amphoria
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Post by amphoria on Jun 23, 2017 22:03:07 GMT
My last match took 13 days from 7th June at the market rate.
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amphoria
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Post by amphoria on May 26, 2017 11:30:45 GMT
I have only discovered the MINUS side of the Zopa. Regardless presafeguard / safeguard / plus, 100% withdrawal is a concern. I can't even withdraw 100% from safeguard, can someone tell me WHY? Only allow 95% withdrawal from Safeguard!!!! The problem is that the Safeguard fund does not kick in until there are 4 missed payments. Once this does happen your total investment in the loan is repaid immediately. I think that you will need to keep requesting sell outs for a while to get completely as borrowers could miss a payment and then make a payment, etc.
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