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Post by newlender on Mar 12, 2018 18:09:15 GMT
This is now an option (new tab on our pages plus email explaining). Seems like a good idea but they want a minimum of £5K by next Sunday, which will be a big turn-off for a lot of people. The main advantage seems to be more rapid funding but I might stay up until midnight on the 5th and see if I'm the first to invest on the 6th.
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aju
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Post by aju on Mar 12, 2018 18:56:25 GMT
This is now an option (new tab on our pages plus email explaining). Seems like a good idea but they want a minimum of £5K by next Sunday, which will be a big turn-off for a lot of people. The main advantage seems to be more rapid funding but I might stay up until midnight on the 5th and see if I'm the first to invest on the 6th. Its damned annoying if you ask me I don't have any more spare cash, ;-), and now my ability to see my data is even more impaired than before why do they feel the need to advertise in my account space. I must start charging them for the advertising space on my screen. Heres my initial screen now. 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 12, 2018 19:19:25 GMT
Interesting to know how they will get round HMRC rules barring 'bed & ISA' of P2P loans.
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benaj
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Post by benaj on Mar 12, 2018 19:36:43 GMT
Good for Zopa I suppose. Look at the current cash drag:- Lending market update
Thursday 8th March 2018
Queuing and matching times
Average times investors spent in queuing and matching before completing each stage last week: | Row 1 column 1 | Queue | Matching
| | Core | 0 Days | 15 Days | | Plus | 0 Days | 13 Days |
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aju
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Post by aju on Mar 12, 2018 23:53:07 GMT
They probably won't actually lend anything as our relend money comes first I thought.
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zlb
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Post by zlb on Mar 16, 2018 16:57:35 GMT
If it's minimum 5k then that means loans of £50 each. Already been caught by that one.
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benaj
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Post by benaj on Mar 16, 2018 17:25:30 GMT
The pre-Isa money is pumping fast into Zopa, I sold my plus loans very quickly yesterday. :-)
Now, Zopa is telling me my plus is "earning" at 20.8% @ projected return of 8.4%!!!!
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Greenwood2
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Post by Greenwood2 on Mar 16, 2018 21:08:34 GMT
If it's minimum 5k then that means loans of £50 each. Already been caught by that one. As usual you can drip feed funds to get your target chunk size (from your holding account).
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ashtondav
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Post by ashtondav on Mar 17, 2018 0:49:47 GMT
The pre-Isa money is pumping fast into Zopa, I sold my plus loans very quickly yesterday. :-) Now, Zopa is telling me my plus is "earning" at 20.8% @ projected return of 8.4%!!!! Why do you keep saying this? My weekly updates say that Zopa+ is scheduled to deliver 4.5%ish.
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Post by davee39 on Mar 17, 2018 8:49:08 GMT
Because after selling out of plus you are left with the dregs of late/non payers at the higher rates just waiting for a full default.
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Post by newlender on Mar 19, 2018 5:56:03 GMT
Well, I've bitten the bullet and decided to prefund £5k. I have been drawing down from RS since Christmas and so it's not new P2P money, just a swap over. One aspect that I find irritating is that the funds go straight into my chosen product, not via Holding. So I have £3k in my Core queue this morning which presumably will give me £30 loan chunks. If I stick in the other £2k this week (waiting for some cash from RS) will that put me up to £50 chunks or will a separate payment of £2k be treated differently to give me £20 loans? I'll soon know, I suppose.
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cb25
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Post by cb25 on Mar 19, 2018 9:37:40 GMT
Well, I've bitten the bullet and decided to prefund £5k. I have been drawing down from RS since Christmas and so it's not new P2P money, just a swap over. Why did you decide to do a 'swap over' from RS to Zopa ? Latest projected returns are 4.59% for Zopa+, 3.83% for Zopa Core, both easily beatable in the RS 5 year market.
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aju
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Post by aju on Mar 19, 2018 10:07:04 GMT
Well, I've bitten the bullet and decided to prefund £5k. I have been drawing down from RS since Christmas and so it's not new P2P money, just a swap over. One aspect that I find irritating is that the funds go straight into my chosen product, not via Holding. So I have £3k in my Core queue this morning which presumably will give me £30 loan chunks. If I stick in the other £2k this week (waiting for some cash from RS) will that put me up to £50 chunks or will a separate payment of £2k be treated differently to give me £20 loans? I'll soon know, I suppose. I was going to say just pull it from the product and then feed it in slowly at lower levels but then I remembered its probably protected. To be honest the prefunding at this stage probably isn't that useful unless you don't already have a running Zopa ISA product at the moment. Me personally I am waiting for my current external ISA products to finish before I transfer them over. I will of course be trying to control their lending by removing them from any given product first - Assuming that Zopa still does not allow straight transfers to be placed into holding for personal for finer control.
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benaj
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Post by benaj on Mar 19, 2018 10:22:55 GMT
Well, I've bitten the bullet and decided to prefund £5k. I have been drawing down from RS since Christmas and so it's not new P2P money, just a swap over. Why did you decide to do a 'swap over' from RS to Zopa ? Latest projected returns are 4.59% for Zopa+, 3.83% for Zopa Core, both easily beatable in the RS 5 year market. Even better, look for cashback deals. There's a few £100 cashback, 5% cashback and even £200 cashback. Cashback is tax free.
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aju
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Post by aju on Mar 19, 2018 10:39:37 GMT
Well, I've bitten the bullet and decided to prefund £5k. I have been drawing down from RS since Christmas and so it's not new P2P money, just a swap over. Why did you decide to do a 'swap over' from RS to Zopa ? Latest projected returns are 4.59% for Zopa+, 3.83% for Zopa Core, both easily beatable in the RS 5 year market. Yeah that's not great but ...... I investigated RS a while back when many people were saying Zopa was going downhill - rates wise - and can you really beat that with RS. Even according to CompareP2P RS 5 year is at 4.5% - (edit: RS today does seem to state "up to 4.9% on ISA - Feb 2018). It does not quote Zopa for some reason but the figures you have for Zopa above were in my email last week too so they are accurate. I have only lent a percentage into Plus generally 10-20% of my core/classic lending rates so far. The Core 3.83% is not that great but it's still better than the banks at the moment - even most of the current accounts. I'm not an RS aficionado but when I checked last the RS rates do fluctuate and it does seem to depend more on the lending time as to whether you get the good rates.
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