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Post by newlender on Mar 19, 2018 11:29:02 GMT
I have an ISA with Zopa for this year (£20k) and so it's quite convenient to know that I will have funded the total sum that I wanted in there (£25k) and can forget about it. I set a target % of my portfolio for each asset class and wouldn't want too much in P2P. Ratesetter is good but early repayments are rife and make forward planning difficult - I seem to be constantly reinvesting money that's come back early. Zopa have had my ISA £20k for 9 months now and returns are excellent - and tax free, of course - despite the odd default. The one way that RS beats Zopa is in the repayment timeframe. Always next day with RS but two days with Zopa.
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Greenwood2
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Post by Greenwood2 on Mar 19, 2018 12:29:21 GMT
RS is also a chore continually chasing rates, or have funds sitting at high rates or lent out at low rates.
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cb25
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Post by cb25 on Mar 19, 2018 12:35:58 GMT
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. RS 5 year market had a match at 5.1% about 10 minutes ago, roughly 0.5% better than Z+ and RS has a provisional fund whilst Z+ does not.
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Post by newlender on Mar 19, 2018 12:53:58 GMT
That's fine if it runs for the full 5 years; the PF is a big advantage too, of course. I simply can't spend my life chasing rates and checking the site frequently to get the best matches, which are often repaid early. With Zopa I know the rates and am happy but I do agree that very active investors will probably do better with RS. I'm going to keep my RS money going for a bit longer as I have some very nice one-year loans which will all be paid back by early next year. Now, off to buy some bitcoin as I fancy even more spice in my portfolio this year. Time was that P2P was the one to avoid and look at it now  . |
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benaj
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Post by benaj on Mar 19, 2018 13:28:32 GMT
That's fine if it runs for the full 5 years; the PF is a big advantage too, of course. I simply can't spend my life chasing rates and checking the site frequently to get the best matches, which are often repaid early. With Zopa I know the rates and am happy but I do agree that very active investors will probably do better with RS. I'm going to keep my RS money going for a bit longer as I have some very nice one-year loans which will all be paid back by early next year. Now, off to buy some bitcoin as I fancy even more spice in my portfolio this year. Time was that P2P was the one to avoid and look at it now . Don't forget you don't need to do diversification with RS. As long as you have a loan > £10, you can sell it any time (and quickly). RS have reduced to sell out fee last year, the worst fee is 1.5% , no fee on rolling market.
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Post by newlender on Mar 19, 2018 14:00:06 GMT
Yes, that's another thing I like about RS. Zopa is getting better though and on the odd occasion I've wanted to sell loans it's not been too slow. With the PF I was never too bothered about loan size and had a few >£2000. One thing that really annoyed me with RS was that a one-year loan could end up being just a few weeks when it appeared in My Portfolio. I understand how that can happen, but after spending days getting the right rate it's very frustrating.
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Greenwood2
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Post by Greenwood2 on Mar 19, 2018 14:03:34 GMT
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. RS 5 year market had a match at 5.1% about 10 minutes ago, roughly 0.5% better than Z+ and RS has a provisional fund whilst Z+ does not. But some Zopa lenders have 0.5% (or even a few 1%) early adopter bonuses.
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aju
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Post by aju on Mar 19, 2018 16:02:40 GMT
RS 5 year market had a match at 5.1% about 10 minutes ago, roughly 0.5% better than Z+ and RS has a provisional fund whilst Z+ does not. But some Zopa lenders have 0.5% (or even a few 1%) early adopter bonuses.  , so far that's helping with the defaults for me so far this year since April. It's been a year of investment this year for ISA, although Mrs Aju is not an early adopter (a Schoolboy error on my part I think not realising at the time its value later down the line). I'm hoping the default scene for us will die down for us as relending starts to mature the investment this year.
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Post by newlender on Mar 21, 2018 8:40:21 GMT
My £5k was sent by Monday and fully matched and invested by Tuesday evening. Is that a record? Some big loans, but as it's all in Core I'm not too bothered.
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Greenwood2
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Post by Greenwood2 on Mar 21, 2018 10:05:53 GMT
Still drip feeding mine in.
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Post by newlender on Mar 21, 2018 10:16:12 GMT
My cash went straight into my chosen funding product. I should have pulled it back into Holding and then drip fed, as you did. Lots of >£35 loans and the odd £40. Oh well, caveat emptor I suppose  . I wonder how long it will take after April 6 to be fully invested as they were very quick to lend out my £5k this week. |
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aju
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Post by aju on Mar 21, 2018 10:24:31 GMT
My £5k was sent by Monday and fully matched and invested by Tuesday evening. Is that a record? Some big loans, but as it's all in Core I'm not too bothered. That does seem very fast perhap that's why they are trying to get pre-funding they need more lenders. I like your confidence on the lending level. I was happy to lend to SG covered loans with 1% diversification but when I started lending large sums recently in ISA and reviewed the default levels of Classic - obviously not able to see the real loss levels - I was a bit more cautious of lending at 1%. I think you or someone else, I can't remember, recently suggested that the defaults all even themselves out anyway so my strategy may not be that useful. Time will tell I guess. As long as I make a decent level that hopefully beats the demon inflation tax, which is a nightmare for a retired soul like me, then I will be happy.
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Greenwood2
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Post by Greenwood2 on Apr 5, 2018 12:46:48 GMT
Just had an email that my account will be unavailable from 4pm today (for up to 10 days) for the ISA prefund transactions.
Taking some screen shots in advance in case of any slip ups!
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Post by newlender on Apr 5, 2018 15:52:14 GMT
I read the email at 16.30 and of course I'm now locked out. Were we warned about this lack of access for up to 10 days? I would definitely have taken screen shots had I known but there we go. When I tried to log on it told me that I've lost access for 'a few days' so let's wait and see.
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aju
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Post by aju on Apr 7, 2018 10:22:43 GMT
Similar things happened in the classic Safeguarded to ISA Classic runs in Jan/Feb we were warned but not explicitly that NO access would be available in the donor side. A number of us complained I think but if my own experience is anything to go by Zopa weren't really that interested. Mrs Aju's took exactly 10 days but in my case the access came back hours after the actual transfer and days before the email to say it was complete arrived. At the time Mrs AJU did it, in Mid January, like you we did not realise it was a complete shutdown of the Donor (Invest) side. I reported it on here and a number of others chipped in. When it came time to perform my transfer I made a specific point of keeping accurate before and after screens. The interesting thing is they do have to actually sell the Invest side and buy the ISA side separately. It will use (Rapid Return) although it may not specifically state this in any of the communication. Using RR will also mean that some interest could be lost in the transfer as RR forgoes the "Accrued interest" (Up to 30 days worth I think) when the sale takes place. I'm not sure but if you haven't yet had time to buy any products then of course there may be no loss. The theory discussed elsewhere on here though is that as the buyer on the ISA side of your loans you will pick up the accrued (Lost) interest from the new loans anyway. Most people think that it will be their own interest from their loans that are sold but unless they have improved the process since Feb for me its not necessarily the case that all sold loans will be rebought. In my own case only 50% of my loans sold in invest were transferred across as the same loans in the ISA side. Zopa has said this is "normal" but to me its not as I did not know it was using RR and even then I did not know that RR lost me "Accrued Interest" so in their final response I reserved the right with them to complain to the FCA on this issue - I am still waiting for the 2nd month of interest to gauge if I made any unexpected loss in the process to warrant the agro of reporting this to the FCA. Another thing to be aware of when the process completes is that in the previous Safeguarded transfers to ISA Zopa had actually assumed that all users would have their relend settings in the same way. This resulted in some people having their lend/relend settings set the same across all products. In Mrs AJU case it meant that Relend to self setting on ISA Plus was turned off and set to relend to Classic in error. Others were even worse affected in that some holding settings reset to lend money and as a result lent out to products they did not intend to too. For those that knew this was an error Zopa admitted the mistake and corrected it. It was never clear though that Zopa has fixed it for everyone else - to be fair to Zopa they usually do go back and fix things like this when they discover the errors. Classic to ISA Transfer incorrectly reinvests repayments |
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, so far that's helping with the defaults for me so far this year since April. 
. I wonder how long it will take after April 6 to be fully invested as they were very quick to lend out my £5k this week.