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Post by misotu on Nov 1, 2017 22:33:00 GMT
I'll be up-front about my reason for asking. I lent my allowance out by the end of August, but the algorithm delivered a projected rate of return 8% below par. So that's one issue.
In the meantime, Zopa have confirmed that Mr Misotu's lending has been "deprioritised", to the point where he is currently barely lending his repayments.
Don't know what to make of this, given the weekly reports that matching is taking around 4 days currently. He is lending unbelievably slowly, and has been doing so since around mid-August.
At the present rate, he'll take another 3 months to lend out his allowance. He did around £4,000 in >£10, <£20.01 chunks. The rest is £10 or lower. I'd be grateful to hear what other investors' experience has been, as I can get nothing from Zopa other than data-free generalities.
So have you already lent out your allowance? What has your experience been, by comparison with the weekly report?
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johni
Member of DD Central
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Post by johni on Nov 2, 2017 9:07:02 GMT
As Zopa have had use of your money sat in their account since august should they offer you a good will gesture. They are publishing matching times a lot less than yours.
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Post by point5clue on Nov 2, 2017 13:04:09 GMT
When I had money queued I calculated that I was lending on average £300 per day in Sept, and only £100 per day in Oct. This is with never allowing the queued amount to go above 1999. I suspect the rapid progress in oct coincided with the exodus after their announcement of predicted rates falling.
Personally I'm still happy with the ISA plus offer - I feel I understand it and can monitor it - defaults for me are slightly lower than I expect, but its early days (most of the money in the last two months). Having said that defaults would need to come from more than just everyone in arrears to knock me badly off course for above expected returns.
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Post by misotu on Nov 2, 2017 14:30:45 GMT
Sorry, should have said that both Mr M and I are lending in Core only, no Plus.
I was wondering whether there would be a few posters saying that they were still struggling to lend their allowance on a similar basis to Mr M. Would have cheered me up a bit!
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Post by wyndstryke on Nov 2, 2017 17:28:41 GMT
Back in July/August I transferred in about half the ISA allocation from my Access loans, the buying went pretty quick (unlike the selling  ). Since I want to keep some in Access, I am waiting for the 1% fee to be removed for moving stuff from Classic. So I haven't actually bought or sold any loans in the last couple of months. |
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johni
Member of DD Central
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Post by johni on Nov 3, 2017 7:31:15 GMT
When I had money queued I calculated that I was lending on average £300 per day in Sept, and only £100 per day in Oct. This is with never allowing the queued amount to go above 1999. I suspect the rapid progress in oct coincided with the exodus after their announcement of predicted rates falling. Personally I'm still happy with the ISA plus offer - I feel I understand it and can monitor it - defaults for me are slightly lower than I expect, but its early days (most of the money in the last two months). Having said that defaults would need to come from more than just everyone in arrears to knock me badly off course for above expected returns. Defaults will not show up until 4 months in for new loans but after this they come on a monthly basis. These are slow at first but build up.
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Post by newlender on Nov 3, 2017 10:02:45 GMT
I have £19,999.99 in my ISA. I decided to get it fully funded using some of the money from a cash ISA that I have (0.5% p.a.). It is gradually being lent out and it looks as if everything will have been lent after about 3 weeks, which is not bad. I am now drawing down and occasionally selling from my Investment side as I am over my target funding in P2P. (Putting it into Premium Bonds when I withdraw it). I anticipate keeping the ISA fully funded and untouched whilst gradually liquidating the Investment side. I've relented and have put £3K into ISA Plus with the rest in ISA Core. It will be interesting to see when I get my first ISA default though. (I'm quite amazed that 45% of my ISA is in Safeguard loans - long may it continue).
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aju
Member of DD Central
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Post by aju on Nov 3, 2017 18:07:20 GMT
Sadly earlier in the year it looked like zopa was not going to get the ISA off the ground so I moved my existing ISA into a 1 year fix (1.3%) back in april. I'm guessing that Zopa has not yet started taking on existing ISA's so I'm guessing that with the rate at 0.5% you just withdrew it and re-invested into the Zopa ISA.
I'm intrigued you got 45% cover though, mine was 25% but its now crept up to 30.2%, mind you I have not lent the full ISA allowance as yet. I'll poke another 5k returned from classic into my ISA for both myself and Mrs Aju when Classic finally turns off relend at the end of month.
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Post by peertopier on Nov 8, 2017 23:16:39 GMT
I've put around £15K in the Zopa Plus ISA. I scheduled payments over a few weeks of between £200 and £500 a day and it's all been processed now. I found the rate of fund matching to be acceptable. Projected rate of return is a slightly underwhelming 5% at the moment. Better than any cash ISA though.
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). Since I want to keep some in Access, I am waiting for the 1% fee to be removed for moving stuff from Classic. So I haven't actually bought or sold any loans in the last couple of months.