marie
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Post by marie on May 25, 2017 15:58:58 GMT
We were all informed of the 1% fee that is in place when selling out of plus. It is stated very clearly on their website.
As for the loans you can't sell, this would be down to them being in areas. Some of them will get out of areas, and you can sell them when that happens.
It looks to me that a lot of people have not understood what Z+ is, before investing.
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marie
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Post by marie on May 25, 2017 15:35:48 GMT
I don't understand why people assume that just because a loan defaults, that money is lost.
The entire loan amount is taken off your earnings figure displayed on the summaries page, which makes the default look worse than it is. But lenders will still be receiving payments on at least a portion of those loans.
I think Zopa is making a mistake taking the entire defaulted loan amount off peoples earnings figure, because that is not what the reality is. And it's causing people to think that their portfolio is doing much worse than it is, causing people to overreact.
That's my opinion anyway.
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marie
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Post by marie on May 25, 2017 13:20:34 GMT
Been with Zopa since September 2005. I have £34k in Z+ and 27k in ZC. my blended return in April was £297. £358 in interest. -£70 new bad debt, +£9 repayments from bad debtors. About what I would expect. Very satisfied. That would be almost 6% return, that's pretty good for your split between + and C! Especially taking into consideration that you're still in the worst phase default wise (first 18 months). I've got faith in Zopa+, and will continue to re-invest More than happy for other people to sell out though, I'm getting a lot of loans already partially repaid lately, which suites me very well. They have already shown willingness to re-pay!
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marie
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Post by marie on May 12, 2017 19:14:27 GMT
I agree with portlandbill that the minimum investment is far too low. 1K (or 2K) is just not enough to protect yourself against the bad eggs. I have 12K invested in Z+ and it is preforming as expected. Out of curiosity, how old is your £12k portfolio and how many of your loans are in default status? Most of the money was invested around September - November last year. Untill this morning I had two defaults, now I have 6. I'm earning about 8.5%, but I am expecting this to fall some.
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marie
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Post by marie on May 10, 2017 7:38:11 GMT
I wouldn't expect the loanbook report to query their production database, that's probably being pulled off a data warehouse where the data is always slightly behind live, probably only updated with the latest live data about once a day.
The "invested" number and the uninvested cash amount appears to be updating pretty much real time, sometimes you can see the money moving in the queue by refreshing the page during the day (I have a very boring job obviously).
If my assumptions are correct, the result would be that your loanbook does not always match with the numbers you see on the website, and this is normal.
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marie
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Post by marie on May 8, 2017 9:33:23 GMT
I would entirely agree Z+ is high risk and from what I have seen some investors may not really see how high that risk is. One thing to remember is Z+ (the D&E loans) where originally only for Institutional Investors. I do think the Z+ minimum investment level of £2k is perhaps set way too low, which entices investors to try it out, who really would be best advised to avoid the product. But just my opinion. The minimum investment level is only £1k, which is what I put in, but am slowly withdrawing from as the repayments (hopefully :-) ) come in. I agree with portlandbill that the minimum investment is far too low. 1K (or 2K) is just not enough to protect yourself against the bad eggs. I have 12K invested in Z+ and it is preforming as expected.
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marie
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Post by marie on Apr 28, 2017 6:35:17 GMT
yeah I noticed that in the statements screen after I'd already created an excel spreadsheet that loaded all the statements from when I started and then searched for the relevant name of a borrower etc etc etc. It basically does what the old zopa reports used to do but its not able to say what was expected to be paid on any given month just what was paid and when, taking its data from the statements csv's. I also noticed that Zopa added the default date in the main loanbooks that is useful but squiffed ( a technical term) all my excel loaders but that's another story. I guess my moaning about the comments field not always having the data for default date was eventually taken on board. Shame they couldn't have moved it to last field to prevent mucking up the excel loaders but at least its a start. You'll want to adjust your spreadsheet again! Two new columns today, replacing the old [Rate] column: [Investor rate] and [Borrower rate].
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marie
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Post by marie on Apr 26, 2017 14:58:04 GMT
Are you determining that they are currently in a "defaulted state" based on [Default date] being populated? Because I don't think that will always be true. If they have made up all their arrears, they still defaulted once and that was the date that happened. On another note I've got 4 loans that are more than 4 months worth worth of repayments in arrears (and have been since early last week) and they have not been registered as defaults yet... I should really get back to work instead of playing with these spreadsheets!! You an me both - I changed what I was looking at I was mistakenly looking in all time rather than current. I changed my comments that are similar to yours on the 4 months issue. It could be down to not all lenders on the loan having received a payment this "round", as per your comment yesterday? So might still be accurate Edit: Or they might just be a couple of days late actually defaulting them! I have nobody more than a tiny bit over the 4 month mark that are not defaulted yet.
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marie
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Post by marie on Apr 26, 2017 14:13:15 GMT
Next column they should add: MonthsInArreas. Basically column N divided by column U. That's the easiest way to see how many defaults are looming! Now thats an interesting thought! I must check that out edit: I checked it out and its interesting that many of my defaults have payments in 2016, are still owing > £1 but are not actually in arrears any thoughts anyone. Are you determining that they are currently in a "defaulted state" based on [Default date] being populated? Because I don't think that will always be true. If they have made up all their arrears, they still defaulted once and that was the date that happened. On another note I've got 4 loans that are more than 4 months worth worth of repayments in arrears (and have been since early last week) and they have not been registered as defaults yet... I should really get back to work instead of playing with these spreadsheets!!
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marie
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Post by marie on Apr 26, 2017 10:39:19 GMT
Next column they should add: MonthsInArreas. Basically column N divided by column U. That's the easiest way to see how many defaults are looming!
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marie
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Post by marie on Apr 4, 2017 15:17:56 GMT
Take them up on the offer, and lend it out at a higher rate!
In all seriousness though, I would be very impressed if they tailored their marketing campaign to the level you are expecting, where they check how much people have in their accounts before targeting them.
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marie
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Post by marie on Mar 11, 2017 18:22:21 GMT
Looks like March is going bad too. It was all going so well until I looked this morning. £50 interest and four defaults of nearly £40 on one account. Second account, £50 interest and one default of a few pence short of £10. So approximately half of March's interest gone already. I have just had my third default in March which has almost wiped out the interest to date. Fortunately there aren't any others that can default this month. I've had about 10K invested since September. I know it's still very early days for me but I have only had 1 borrower default on me. Next potential default is not in another two months. Will keep an eye on any future defaults though, there might be a pattern with regards to when people who are likely to default, take up loans.. Christmas, I'm looking at you!
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marie
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Post by marie on Mar 11, 2017 18:17:59 GMT
Does anyone elses weekly update email only contain queuing and matching times for access, whilst classic and plus is missing? I don't have any money in access so it can't be down to only having queued/matched loans on access in the last week.. At the bottom it states Demand in Classic and Plus is exceptionally high. New money transferred in the last 10 days or 12 days respectively is still working its way through the queue.I have not put any new money in since August. Repayments are still being invested regularly. Aha, I should have read more carefully! Although it is a bit annoying that it takes so long for the monies to start earning interest, it's a positive sign that people want to invest more money in the platform, so much that it is causing queues..
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marie
Posts: 38
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Post by marie on Mar 11, 2017 14:46:21 GMT
Does anyone elses weekly update email only contain queuing and matching times for access, whilst classic and plus is missing? I don't have any money in access so it can't be down to only having queued/matched loans on access in the last week..
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marie
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Post by marie on Mar 2, 2017 13:43:38 GMT
The problem seems to be with loans lent in last half of December + January. Next year I'll just hold off my investments until February kicks in. I assume this is something people would have seen every February as Christmas and January are especially hard months financially for a lot of people. Don't know if anyone can confirm that?
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