copacetic
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Post by copacetic on Jan 19, 2018 13:23:51 GMT
From today's email:
Well, no actually. For Zopa Plus over the past 6 weeks it's been:
5.07 1st Dec
5.03 8th Dec
4.92 15th Dec
4.84 22nd Dec
4.97 5th Jan
4.93 12th Jan
While trying to put a positive spin on bad news is something most companies are guilty of, imo it seems a bit silly (not to mention misleading) for Zopa to send out an email with a headline of target rates increasing when the exact opposite is true for the Zopa Plus account which dropped 0.33% since last week. Not a sensible ploy for a company managing other people's money and trying to attract investors.
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benaj
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Post by benaj on Jan 19, 2018 13:34:42 GMT
I think Zopa has shifted focus and focus to its Core product instead. It seems the email was referring to the Core rate, not the Plus.
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ashe
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Post by ashe on Jan 19, 2018 15:34:55 GMT
From today's email: Well, no actually. For Zopa Plus over the past 6 weeks it's been: 5.07 1st Dec 5.03 8th Dec 4.92 15th Dec 4.84 22nd Dec 4.97 5th Jan 4.93 12th Jan While trying to put a positive spin on bad news is something most companies are guilty of, imo it seems a bit silly (not to mention misleading) for Zopa to send out an email with a headline of target rates increasing when the exact opposite is true for the Zopa Plus account which dropped 0.33% since last week. Not a sensible ploy for a company managing other people's money and trying to attract investors. There isn't any bad news they're trying to put a spin on - the target rate shown on their website for Plus has been changed from 4.5% to 4.6%. The Zopa Plus acccount *hasn't* dropped 0.33% since last week, they've instead upped the static figure they're happy to show on their website by 0.1%. They likely underestimate the static figure shown on their website, rather than show an average figure - since otherwise you'd get people complaining when they don't get at least an average match.
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benaj
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Post by benaj on Jan 19, 2018 15:47:37 GMT
There isn't any bad news they're trying to put a spin on - the target rate shown on their website for Plus has been changed from 4.5% to 4.6%. The Zopa Plus acccount *hasn't* dropped 0.33% since last week, they've instead upped the static figure they're happy to show on their website by 0.1%. They likely underestimate the static figure shown on their website, rather than show an average figure - since otherwise you'd get people complaining when they don't get at least an average match. Well, I guess you haven't made a complain to Zopa yet my friend. I have complained to Zopa a few times not because of the return of Zopa Plus, its the other stuffs that they never mentioned from its web site. I have realised Zopa plus wasn't right for me after 7-8 months and I decided to sell my entire Zopa Plus holding since Nov '17. Right now it tells me I am "earning" at 17.1% at projected return of 7.7% for the remaining of 2.26% holding that I have been trying to sell since November. The 7.7% is meaningless to me because the statement tells me something else. Even worse, now they have decreased the Zopa Plus projected return, it makes it harder to sell my remaining 2.26% of Zopa Plus holding at reasonable pace. 
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Greenwood2
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Post by Greenwood2 on Jan 19, 2018 16:41:45 GMT
From today's email: Well, no actually. For Zopa Plus over the past 6 weeks it's been: 5.07 1st Dec 5.03 8th Dec 4.92 15th Dec 4.84 22nd Dec 4.97 5th Jan 4.93 12th Jan While trying to put a positive spin on bad news is something most companies are guilty of, imo it seems a bit silly (not to mention misleading) for Zopa to send out an email with a headline of target rates increasing when the exact opposite is true for the Zopa Plus account which dropped 0.33% since last week. Not a sensible ploy for a company managing other people's money and trying to attract investors. I assume those are your personal projected rates. I would expect the personal projected rates to move towards the Zopa platform target rate, which was 4.5% and rising to 4.6%, as an individuals loan book matures (provided they are sufficiently diversified). We will have to wait and see how close they get.
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ashe
Posts: 53
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Post by ashe on Jan 19, 2018 16:44:58 GMT
There isn't any bad news they're trying to put a spin on - the target rate shown on their website for Plus has been changed from 4.5% to 4.6%. The Zopa Plus acccount *hasn't* dropped 0.33% since last week, they've instead upped the static figure they're happy to show on their website by 0.1%. They likely underestimate the static figure shown on their website, rather than show an average figure - since otherwise you'd get people complaining when they don't get at least an average match. Well, I guess you haven't made a complain to Zopa yet my friend. I have complained to Zopa a few times not because of the return of Zopa Plus, its the other stuffs that they never mentioned from its web site. I have realised Zopa plus wasn't right for me after 7-8 months and I decided to sell my entire Zopa Plus holding since Nov '17. Right now it tells me I am "earning" at 17.1% at projected return of 7.7% for the remaining of 2.26% holding that I have been trying to sell since November. The 7.7% is meaningless to me because the statement tells me something else. Even worse, now they have decreased the Zopa Plus projected return, it makes it harder to sell my remaining 2.26% of Zopa Plus holding at reasonable pace. The point of my post was that they haven't decreased the rate they give for the Zopa Plus targeted return.
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ashe
Posts: 53
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Post by ashe on Jan 19, 2018 16:55:12 GMT
From today's email: Well, no actually. For Zopa Plus over the past 6 weeks it's been: 5.07 1st Dec 5.03 8th Dec 4.92 15th Dec 4.84 22nd Dec 4.97 5th Jan 4.93 12th Jan While trying to put a positive spin on bad news is something most companies are guilty of, imo it seems a bit silly (not to mention misleading) for Zopa to send out an email with a headline of target rates increasing when the exact opposite is true for the Zopa Plus account which dropped 0.33% since last week. Not a sensible ploy for a company managing other people's money and trying to attract investors. I assume those are your personal projected rates. I would expect the personal projected rates to move towards the Zopa platform target rate, which was 4.5% and rising to 4.6%, as an individuals loan book matures (provided they are sufficiently diversified). We will have to wait and see how close they get. Those are the figures from the weekly Zopa update emails on the average projected match over the previous six weeks - which you would expect to at least match or exceed the target rate presented on their website, as it is doing.
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Post by fuzzyiceberg on Jan 20, 2018 9:16:04 GMT
Well, I guess you haven't made a complain to Zopa yet my friend. I have complained to Zopa a few times not because of the return of Zopa Plus, its the other stuffs that they never mentioned from its web site. I have realised Zopa plus wasn't right for me after 7-8 months and I decided to sell my entire Zopa Plus holding since Nov '17. Right now it tells me I am "earning" at 17.1% at projected return of 7.7% for the remaining of 2.26% holding that I have been trying to sell since November. The 7.7% is meaningless to me because the statement tells me something else. Even worse, now they have decreased the Zopa Plus projected return, it makes it harder to sell my remaining 2.26% of Zopa Plus holding at reasonable pace. Benaj - I expect the quoted rates are correct - you probably have a few high rate Zopa Plus loans left. I imagine that these are hard to sell because they don't meet the selling criteria - I daresay they have had a missed payment or something that makes them ineligible for sale. If you download your loanbook the comments may make clear what the status of these loans is. It maybe you will just have to wait while they repay (or not) over time. You could also ask Zopa why the loans have not been sold.
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benaj
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Post by benaj on Jan 20, 2018 10:41:02 GMT
Well, I guess you haven't made a complain to Zopa yet my friend. I have complained to Zopa a few times not because of the return of Zopa Plus, its the other stuffs that they never mentioned from its web site. I have realised Zopa plus wasn't right for me after 7-8 months and I decided to sell my entire Zopa Plus holding since Nov '17. Right now it tells me I am "earning" at 17.1% at projected return of 7.7% for the remaining of 2.26% holding that I have been trying to sell since November. The 7.7% is meaningless to me because the statement tells me something else. Even worse, now they have decreased the Zopa Plus projected return, it makes it harder to sell my remaining 2.26% of Zopa Plus holding at reasonable pace. Benaj - I expect the quoted rates are correct - you probably have a few high rate Zopa Plus loans left. I imagine that these are hard to sell because they don't meet the selling criteria - I daresay they have had a missed payment or something that makes them ineligible for sale. If you download your loanbook the comments may make clear what the status of these loans is. It maybe you will just have to wait while they repay (or not) over time. You could also ask Zopa why the loans have not been sold. The selling process is complicated with Zopa, nothing is straight forward and fast. Zopa only allows loans can be sold if there are up to date with the repayments. During the middle of December, I was only allowed to sell 0.2% of my portfolio. Not kidding, 0.2%! But the selling was completely stalled without anything sold and I rang Zopa to FIX IT. At the moment, the remaining of my 2.26% portfolio, only 0.6% can be sold and only 0.2% has been sold so far! Let me stress at something important, at the 1st of December, the remaining of 2.26% are all eligible to be sold. Things do change quickly.
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mikeb
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Post by mikeb on Jan 21, 2018 20:36:22 GMT
it seems a bit silly (not to mention misleading) for Zopa to send out an email with a headline of target rates increasing when the exact opposite is true ... I received a similar email. "Target Returns Are Increasing in 2018" Inside this email is just a list of negatives: We saw the start of bad debt in 2016 and it's becoming real, default rates on consumer stuff increased in 2017, we've been more cautious to exclude high risk loans (IOW: pinching your interest rate down), "we are expecting a lower targeted return ...", "we are expecting slightly higher losses" ... an increase in early repayments which "also reduces interest income and thus returns", "realised returns will be lower than original expectations". To use such a misleading subject (from a supposedly responsible and regulated financial institution) ... mildly irritated me, but it just reminded me why I stopped lending with Zopa 
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adrian77
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Post by adrian77 on Jan 23, 2018 19:13:21 GMT
Looks to me as if you are giving it away
Not for the first time my portfolio showed a massive daily loss yesterday (I will investigate when I get time).
Any platform that can't provide robust data does not get my vote - all my interest goes to my holding account where it is withdrawn ona daily basis.
just had a quick look at my December figures - on about £7k my return was MINUS £5
how on earth does not square with the antipicated rate of 4.6% or whatever - I will need about 10% return next month to be back on track for this target...sooner I am 100% out the better.
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Post by BrianC on Jan 25, 2018 18:33:28 GMT
Looks to me as if you are giving it away Not for the first time my portfolio showed a massive daily loss yesterday (I will investigate when I get time). Any platform that can't provide robust data does not get my vote - all my interest goes to my holding account where it is withdrawn ona daily basis. just had a quick look at my December figures - on about £7k my return was MINUS £5 how on earth does not square with the antipicated rate of 4.6% or whatever - I will need about 10% return next month to be back on track for this target...sooner I am 100% out the better. Only minus £5? Lucky you!! I’m down £60 already this month on my remaining £10k. Not made any reasonable monthly profit for several months. As I’ve said numerous times before, I really can’t understand why anyone would reinvest with Zopa. Their model has become a joke.
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Post by beepbeepimajeep on Jan 25, 2018 21:46:41 GMT
Not for the first time my portfolio showed a massive daily loss yesterday (I will investigate when I get time). Only minus £5? Lucky you!! I’m down £60 already this month on my remaining £10k Similar figures to both of you here on the amount I have invested and similar things happening, massive losses. Ho hum maybe I should just sell up and go elsewhere.
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ashtondav
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Post by ashtondav on Jan 25, 2018 21:56:49 GMT
My investment is 50% plus 50% other products, mainly core and classic . December interest after bad debt and annualised is 3.3%. After 12 years with Zopa I too have been withdrawing for months. High risk low reward, but they still have a waiting list so some folks must be happy!
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benaj
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Post by benaj on Jan 26, 2018 11:46:28 GMT
My investment is 50% plus 50% other products, mainly core and classic . December interest after bad debt and annualised is 3.3%. After 12 years with Zopa I too have been withdrawing for months. High risk low reward, but they still have a waiting list so some folks must be happy! I have invested on the PLUS only. After 7-8 months investment, I have realised the plus is not compatible to my investment objective and started selling my loans in Nov '17. I still have 2.13% portfolio left on the plus which I am still trying to sell @ snail pace. Overall, annualised return is still positive on paper, and Zopa is telling me I'm "earning" @ 17.1% with the projected return of 7.1%, may be my annualised return will be completely changed by the end of March '18. Right now, I choose to ignore the Zopa plus monthly statement and focus on the return elsewhere.
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