paule
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Post by paule on Mar 14, 2019 13:52:28 GMT
In the end I've lost close to £2k by investing with Zopa but I'm selling my loans and buying a nice car for my wife's 50th instead
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Post by portlandbill on Mar 14, 2019 14:09:15 GMT
Did you have it all in Zopa +?
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Post by GentlemansFamilyFinances on Mar 14, 2019 14:16:28 GMT
I've been out for years now - but still withdrawing a few quid every month (good months).
Overall it's been a fun experience and a good way to learn the importance of Return of Capital over the Return on Capital.
Plus - money, you can't take it with you but you can give it your wife and then die and not pay it back.
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paule
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Post by paule on Mar 14, 2019 14:23:49 GMT
That made me laugh, having literally come out of surgery last night...
But seriously last couple of years zopa has really not delivered on that they said..
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paule
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Post by paule on Mar 14, 2019 14:38:03 GMT
 At this point I gave up...
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aju
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Post by aju on Mar 14, 2019 15:32:54 GMT
At this point I gave up... At least you can see your failing I still can;t see what you can, yet! i've got my own excel chart doing a similar thing but its only monthly and a bit jumpy. My experience and it seems to be similar for Mrs aju is that we have a good month followed by a not so good month at present. We have only plus of 20% of total but its not just plus that is an issue I feel. We still doing relatively ok looks like about 4.8% for the current finance year. But our XIRR rates are falling year on year. We are moving out of Invest at present and moving into RS normal. In april we may start to move some ISA stuff into RS ISA from our current oversubscription in Zopa I still have to make that decision as yet.
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Greenwood2
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Post by Greenwood2 on Mar 14, 2019 15:55:04 GMT
At this point I gave up... At least you can see your failing I still can;t see what you can, yet! i've got my own excel chart doing a similar thing but its only monthly and a bit jumpy. My experience and it seems to be similar for Mrs aju is that we have a good month followed by a not so good month at present. We have only plus of 20% of total but its not just plus that is an issue I feel. We still doing relatively ok looks like about 4.8% for the current finance year. But our XIRR rates are falling year on year. We are moving out of Invest at present and moving into RS normal. In april we may start to move some ISA stuff into RS ISA from our current oversubscription in Zopa I still have to make that decision as yet. Is it easy to move piecemeal from Zopa ISA to RS ISA? I may want to do something similar.
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aju
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Post by aju on Mar 14, 2019 16:11:28 GMT
Probably and probably not. Zopa does have a FAQ that mentions using the donor systems transfer forms but its not clear what really happens at the Zopa end. I'm pretty certain zopa will charge for the transfer out and any loans that are left behind as a result of either not being able to sell them or they being defaults are moved to the non ISa side. what I could not see was if good loans were put into the sale and then not actually sold for whatever reason whether they remained in the ISA lending, I suspect not (Edit: I just re-read it and it seems "unsold" loans are definitely moved from ISA to non ISA which is not ideal for me anyway.)you could read this Zopa FAQ to see if you understood it better than me. I didn't bother querying it as I felt I probably would be able to xfer it manually as I wasn't fully clear on what rates that RS would be lending it out and I would want to be getting better rates than market if I could. Also I will need to limit the sending amount so as not to remove SG covered loans I block moved into the zopa ISA earlier in the year. Seems a shame to remove SG covered amounts. The other issue for me is I will not be moving new funds into ISA so its not so important that I move automatically. |
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benaj
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Post by benaj on Mar 14, 2019 16:35:59 GMT
In the end I've lost close to £2k by investing with Zopa but I'm selling my loans and buying a nice car for my wife's 50th instead She drives, right?  Some woman wants a car, but never drive.
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Greenwood2
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Post by Greenwood2 on Mar 14, 2019 16:36:34 GMT
Probably and probably not. Zopa does have a FAQ that mentions using the donor systems transfer forms but its not clear what really happens at the Zopa end. I'm pretty certain zopa will charge for the transfer out and any loans that are left behind as a result of either not being able to sell them or they being defaults are moved to the non ISa side. what I could not see was if good loans were put into the sale and then not actually sold for whatever reason whether they remained in the ISA lending, I suspect not (Edit: I just re-read it and it seems "unsold" loans are definitely moved from ISA to non ISA which is not ideal for me anyway.)you could read this Zopa FAQ to see if you understood it better than me. I didn't bother querying it as I felt I probably would be able to xfer it manually as I wasn't fully clear on what rates that RS would be lending it out and I would want to be getting better rates than market if I could. Also I will need to limit the sending amount so as not to remove SG covered loans I block moved into the zopa ISA earlier in the year. Seems a shame to remove SG covered amounts. The other issue for me is I will not be moving new funds into ISA so its not so important that I move automatically. I was just thinking of stopping reinvesting and building up say a few thousand at a time to transfer. I haven't looked into it yet. I don't know how easy it would be to do multiple transfers into the RS ISA, or how happy Zopa would be about multiple transfers out at a few month intervals.
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benaj
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Post by benaj on Mar 14, 2019 16:48:46 GMT
At this point I gave up... The graph shows you are earning £400+, so you haven't "lost" 2k yet I suppose. Wait for zopa recovery, it's pretty good. I was in a similar position back in 2017, I decided to sell Zopa plus. After 2 years since I started Zopa plus, my real profit (withdraw - deposit) is 0.49%, so no loss for 2 years and expecting more recovery money on a monthly basis. I hope the same for you. It was only a short period investing, less than 8 months and I paid more than 1.3% fees to Zopa to achieve this 0.49% return today, mainly thanks to zopa bad debt buyback (0.35%) in Nov 18. 
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aju
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Post by aju on Mar 14, 2019 16:49:28 GMT
Probably and probably not. Zopa does have a FAQ that mentions using the donor systems transfer forms but its not clear what really happens at the Zopa end. I'm pretty certain zopa will charge for the transfer out and any loans that are left behind as a result of either not being able to sell them or they being defaults are moved to the non ISa side. what I could not see was if good loans were put into the sale and then not actually sold for whatever reason whether they remained in the ISA lending, I suspect not (Edit: I just re-read it and it seems "unsold" loans are definitely moved from ISA to non ISA which is not ideal for me anyway.)you could read this Zopa FAQ to see if you understood it better than me. I didn't bother querying it as I felt I probably would be able to xfer it manually as I wasn't fully clear on what rates that RS would be lending it out and I would want to be getting better rates than market if I could. Also I will need to limit the sending amount so as not to remove SG covered loans I block moved into the zopa ISA earlier in the year. Seems a shame to remove SG covered amounts. The other issue for me is I will not be moving new funds into ISA so its not so important that I move automatically. I was just thinking of stopping reinvesting and building up say a few thousand at a time to transfer. I haven't looked into it yet. I don't know how easy it would be to do multiple transfers into the RS ISA, or how happy Zopa would be about multiple transfers out at a few month intervals. Yeah, that's what I thought we would do. In my case I did analyse how much I could take as a maximum in an ISA sale before I would start eating into SG covered loans on both our accounts - as I understand their FAQ its done on a last in first out (LIFO) approach. The automatic selling system is also a pain as they turn off access to the ISA side of an account whilst the block sale goes on. I don't really like that method - it caused me great pains earlier in 2018 when we did our xfers from Invest into ISA. In that case it blocked both sides and being blind for 2/3 weeks was not comfortable for me!. When the time comes I'll eMail Zopa and ask lost of questions so I understand it. Let's hope they have fixed the micky-mouse RR system they used last year that literally ended up with accounts being left in a completely different states they started in Relending wise that is. Mind you analysing things did and finding out what they did to our accounts did turn out to be quite fruitful compensation wise. If you do use the auto systems its best to take snapshots of ALL settings before and after wards to ensure you are not left in a state you were not expecting.
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aju
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Post by aju on Mar 14, 2019 16:58:13 GMT
At this point I gave up... The graph shows you are earning £400+, so you haven't "lost" 2k yet I suppose. Wait for zopa recovery, it's pretty good. I was in a similar position back in 2017, I decided to sell Zopa plus. After 2 years since I started Zopa plus, my real profit (withdraw - deposit) is 0.49%, so no loss for 2 years and expecting more recovery money on a monthly basis. I hope the same for you. That's interesting I hadn't looked at the graph numbers just the NAR 1.06%, as I said mine is jumping around but we are still up XIRR wise. I've only plotted the graph as I wasn't comfortable with creating the NAR at present. If the NAR is valid then perhaps paule might be looking at it from a point of view they have made a loss return wise. I could beat that in Marcus at 1.5% at the moment so perhaps that's what they meant. When Mrs Aju sees all this default stuff she struggles with the fact that whilst we have over £700 worth of defaults in our ISa accounts she just see a loss as a loss and forgets about the gains that over ride the loss. She also struggle with the fact that a lot of defaults actually get recovered. We had a full recovery in my ISA in the last few days, only £6.24 but at least it recovered.
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paule
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i'm out
Mar 14, 2019 20:53:29 GMT
via mobile
Post by paule on Mar 14, 2019 20:53:29 GMT
At this point I gave up... The graph shows you are earning £400+, so you haven't "lost" 2k yet I suppose. Wait for zopa recovery, it's pretty good. I was in a similar position back in 2017, I decided to sell Zopa plus. After 2 years since I started Zopa plus, my real profit (withdraw - deposit) is 0.49%, so no loss for 2 years and expecting more recovery money on a monthly basis. I hope the same for you. It was only a short period investing, less than 8 months and I paid more than 1.3% fees to Zopa to achieve this 0.49% return today, mainly thanks to zopa bad debt buyback (0.35%) in Nov 18. Benaj that 2k includes the loams I can't sell as in debt it's actually more than that...
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benaj
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Post by benaj on Mar 15, 2019 6:51:42 GMT
I am no expert paule, but my 2 years experience with plus tells me "stuck / late" loans in your 2 year investment may not be turn into defaults as they are struggling with some financial difficulties and Zopa works with these borrowers to repay as much as they can. Zopa plus prior 2018 weren't great, mine were heavily invested around March - May 17 and they turned out not as expected. Assuming you are getting the money for your wife's car by selling the remaining loans, try selling for a few months at least. Zopa doesn't allow loans to be sold around repayment date, so picking the date to sell loans can affect the amount you can sell. It took more than 3 months to sell my loans around Nov'17. p2pindependentforum.com/thread/14366/zopa-offers-return-banksI created a post recently about comparing Zopa return with the banks in 2 year scenario, it seems the risk in investing Plus over 2 year investment period cannot be easily understood. |
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Some woman wants a car, but never drive.