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Post by p2pbystander on Jan 1, 2020 18:31:25 GMT
To me it feels like it's time to go but I want to see if everyone feels the same. I've been investing since 2014 and had some good wins in the early days. Now, my loan book struggles to break even and I took a hit in the last few months with defaults outstripping interest payments.
Things like scrapping the safeguard option (and then subsequently telling investors it's in their best interest) was a major blow, but other thinks like allowing corporate investors in and taking on riskier markets have now killed the platform for me.
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aju
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Post by aju on Jan 2, 2020 12:14:57 GMT
I voted but not sure as I am still doing my end of year returns and they are not that great but its been a bit more difficult to gauge how bad as I have made some considerable sales earlier in the year. My overall XIRR's are definitely still up there 4-5% which is better than the banks but obviously there is much less security.
One thing that's interesting is that Zopa and RS for that matter does seem to have quite a bit of traction in the sense that on here its just us moaners and groaners, yes I do a lot of it too, but I'm definitely not convinced what we think is that important in the wider market.
I will be removing funds from Zopa and to be fair I will be readjusting RS as well from an E/D to ISA to get the tax issues for me sorted. I've generally moved a lot of tax bearing stuff to Mrs Aju but she may be over subscribed as well.
Anyway that's my slant on this stuff not that technical and I think the Deal or no deal stuff may resurface later in the year around july I think the gov't has to start thinking about moving the dates or getting a deal "whatever" so for me that's the next milestone.
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woodie
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Post by woodie on Jan 2, 2020 13:55:30 GMT
Been with Zopa since April 2007 but been withdrawing funds* since August 2016.
As far as my account is concerned Zopa's estimated returns are pure fiction.
Also disappointed that Zopa are now washing their hands of bad debts instead of pursuing them themselves.
* to RS 1 year ISA, nowithstanding all the concerns of coverage ratios and future economic outlook the claim that no investor has ever lost a penny is a very powerful draw particulary compared to the current situation at Zopa.
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ashtondav
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Post by ashtondav on Jan 3, 2020 11:46:45 GMT
It’s funny but on every p2p platform that has had such a vote a majority vote to flee. 43% dissatisfaction is an appalling customer experience among your most vocal and informed customers. In any other industry it would be met with a clear campaign and communication on positive changes. In p2p Land all platforms seem to accept that many lenders think they’re cr@p.
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Greenwood2
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Post by Greenwood2 on Jan 3, 2020 13:34:42 GMT
It’s funny but on every p2p platform that has had such a vote a majority vote to flee. 43% dissatisfaction is an appalling customer experience among your most vocal and informed customers. In any other industry it would be met with a clear campaign and communication on positive changes. In p2p Land all platforms seem to accept that many lenders think they’re cr@p. Polls on this forum such as for 'best platform' have been notoriously inaccurate, unfortunately for many! The most vocal and informed usually seem about as clueless as the rest of us.
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Post by stevexxx on Jan 7, 2020 19:34:18 GMT
My annual returns on plus are down to 3 and 3.6% now and still dropping monthly, while I see no panic and I think the platform is still solid I'm running down my investments there as the actual return is just way to low for the risk in my opinion and I can earn better on other solid platforms spreading the risk
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Post by Ton ⓉⓞⓃ on Jan 7, 2020 20:30:56 GMT
It’s funny but on every p2p platform that has had such a vote a majority vote to flee. 43% dissatisfaction is an appalling customer experience among your most vocal and informed customers. In any other industry it would be met with a clear campaign and communication on positive changes. In p2p Land all platforms seem to accept that many lenders think they’re cr@p. Polls on this forum such as for 'best platform' have been notoriously inaccurate, unfortunately for many! The most vocal and informed usually seem about as clueless as the rest of us. Or we are just rate-tarts and it's to be expected?
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coogaruk
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Post by coogaruk on Jan 8, 2020 15:12:07 GMT
The most vocal and informed usually seem about as clueless as the rest of us. Speak for yourself 
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sd2
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Post by sd2 on Jan 25, 2020 17:05:11 GMT
Looking at what's being said on the zopa blog it looks like everyone should get out. I always got the impression that zopa was low risk and therefore low return. Going by zopa part of the forum it's low interest higher risk than ratesetter? Although a recession may prove that incorrect?
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jcb208
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Post by jcb208 on Jan 26, 2020 9:31:23 GMT
How long has people been waiting to sell loans ,I found after 6 days zero money has been returned
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aju
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Post by aju on Jan 26, 2020 10:12:21 GMT
Looking at what's being said on the zopa blog it looks like everyone should get out. I always got the impression that zopa was low risk and therefore low return. Going by zopa part of the forum it's low interest higher risk than ratesetter? Although a recession may prove that incorrect? I checked the zopa blog but could not find much damning info on there. Their most recent item on SG is basically old news. I do agree things are not great at zopa towers from a p2p investor position but I am not losing money just yet. I have turned relend off in the Invest account (it was sending to ISA side) and will be moving money into Marcus - unless something better comes along - but this will lose me interest in the short term but make the funds safer. I've been in Zopa for while now, even through the crash times, and have not lost money just reduced my return. In the last crash I did a few foolish things in other institutions but Zopa gave me some interesting returns at that time. I'm not fully convinced that Zopa will not run down the P2p side when the banks takes off but looking at some of hte new entries into the banking sector all is not that rosy over there either.
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aju
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Post by aju on Jan 26, 2020 10:22:50 GMT
How long has people been waiting to sell loans ,I found after 6 days zero money has been returned Sometimes it can take some time to start depending on where your loans are positioned (loans close to payment cannot be sold I seem to remember). I personally am just using run off rather than selling and that builds up slower but it costs nothing fees wise. I did some selling back in the middle of last year and it ran quite smoothly but it did take a few days to start up and then took a while 2-3 weeks to get all of the amounts I set it to sell.
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Post by Ton ⓉⓞⓃ on Jan 26, 2020 21:10:19 GMT
How long has people been waiting to sell loans ,I found after 6 days zero money has been returned I happened to be looking at something on this subject at Z whilst doing my taxes. Here's Z FAQ: and under "how can i access my money... " it has these points
If loans for sale go to the head of the queue immediately it's hard to see how it can take more than a week. If you don't see the money in your Holding Account soon it's worth contacting them.
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benaj
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Post by benaj on Jan 26, 2020 22:22:30 GMT
How long has people been waiting to sell loans ,I found after 6 days zero money has been returned Last updated 6 December 2019 7. Getting your money back jcb208, if you are trying to sell a large amount of Zopa plus, you might have to be very patient to find enough Zopa plus Investors buying your D&E loans.
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jcb208
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Post by jcb208 on Jan 27, 2020 16:20:33 GMT
I may well just cancel and carry on and let them run down as I have been for the last year.I have kept the safeguard loans and trying to sell what's left of my core loans about 4K
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