criston
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Post by criston on Apr 4, 2020 17:38:28 GMT
The first 2 accounts were set to sell at 15.00 Sunday 15th March. The 3rd & 4th accounts were set to sell at 20.00 Sunday 15th March. The first account has now sold approaching 50% sold. The second account has now sold 35%. We are talking tens of thousands originally placed to sell on all 4 accounts of which 15% now sold. I assume you were given a far worse Market Rate Adjustment than you got at the outset - we got an email last week about a large increase. There was a proviso that the rate we were offered was roughly 4%+ not the original .45% or so. Be interested to hear what you were offered and what it ends up as after the sale has finished. Yes around 4%. I will keep you informed on the figures. The unsaleable figure due to late payments could be nasty. It's nice to see the sales rolling in though, when it eventually happens. I also placed 2 Classic sales at 08.00 on 16/3/20. We will get some idea of extending time frames as & when all my other accounts sell. Hope it gives some comfort to others as these are worrying times. The first two accounts are now both over 50% sold.
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criston
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Post by criston on Apr 4, 2020 21:05:25 GMT
Here is a guide on one of our accounts currently selling with a guesstimate on some of the figures from memory
Portfolio total on 15/3/20 £10000 Guess Withdrawn since 15/3/20 £500 Guess Not salable on 15/3/20 £400 Guess Placed for sale 15/3/20 £9539 which would have reduced due to withdrawn repayments. Fees & interest adjustment say 5% £450 assuming all £9000 left after withdrawals is sold, but there must be some more defaults occurred since 15/3/20 Total sold so far today £7811 (which would be after fees) Still shown in account £1503. Not sure if this is the new non salable figure.
Too late to make head or tail of these figures.
As this is the first time I have sold like this, I am not sure if I get an email when selling is complete.
Will update in the morning if any more has sold. Sale figure risen to £7838 as I write.
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criston
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Post by criston on Apr 5, 2020 7:35:16 GMT
Here is a guide on one of our accounts currently selling with a guesstimate on some of the figures from memory Portfolio total on 15/3/20 £10000 Guess Withdrawn since 15/3/20 £500 Guess Not salable on 15/3/20 £400 Guess Placed for sale 15/3/20 £9539 which would have reduced due to withdrawn repayments. Fees & interest adjustment say 5% £450 assuming all £9000 left after withdrawals is sold, but there must be some more defaults occurred since 15/3/20 Total sold so far today £7811 (which would be after fees) Still shown in account £1503. Not sure if this is the new non salable figure. Too late to make head or tail of these figures. As this is the first time I have sold like this, I am not sure if I get an email when selling is complete. Will update in the morning if any more has sold. Sale figure risen to £7838 as I write. Total sold has only reached £7843 with ££1471 left in account. Similar situation with the other account. So be prepared for around 15% to be left in your account for loans processing, late or defaulting on top of the 5% Zopa take. Can only be expected in this climate & will have to wait for any recoveries. The other 2 accounts set to sell at 20.00 on Sunday 15th March have started selling overnight & are about 50% sold. This leaves the 2 Classic accounts, protected by Shield, which were set to sell at 08.00 Monday 16th March.
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criston
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Post by criston on Apr 5, 2020 15:12:28 GMT
The first 2 accounts have not changed, so I assume my assertion that what is left is non-salable, is correct.
Accounts 3 & 4; sales have come to a halt at about the 75% sold mark, so not much more to go. Suppose this is to be expected on a Sunday. The new ISA year tomorrow may start speeding things up.
The 2 Classic accounts set up to sell on Monday 16th March at 08.00, 12 hours behind accounts 3 & 4, will be the next milestone.
I will continue with updates.
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aju
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Post by aju on Apr 5, 2020 15:23:08 GMT
The first 2 accounts have not changed, so I assume my assertion that what is left is non-salable, is correct. Accounts 3 & 4; sales have come to a halt at about the 75% sold mark, so not much more to go. Suppose this is to be expected on a Sunday. The new ISA year tomorrow may start speeding things up. The 2 Classic accounts set up to sell on Monday 16th March at 08.00, 12 hours behind accounts 3 & 4, will be the next milestone. I will continue with updates. I'm sure you know this but just in case. Whilst your loan sale will go ahead mostly ok it should be noted that loans that are coming up for payments will not be sold. It does not mean that they are unsellable just that you cannot sell loans that are about to have payments. I think thats right unless they have changed everything since last may. Just a curious question as I can't remember and they may have introduced recently but can I expect an email notification that my sales have started when they do?.
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criston
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Post by criston on Apr 5, 2020 15:33:17 GMT
The first 2 accounts have not changed, so I assume my assertion that what is left is non-salable, is correct. Accounts 3 & 4; sales have come to a halt at about the 75% sold mark, so not much more to go. Suppose this is to be expected on a Sunday. The new ISA year tomorrow may start speeding things up. The 2 Classic accounts set up to sell on Monday 16th March at 08.00, 12 hours behind accounts 3 & 4, will be the next milestone. I will continue with updates. I'm sure you know this but just in case. Whilst your loan sale will go ahead mostly ok it should be noted that loans that are coming up for payments will not be sold. It does not mean that they are unsellable just that you cannot sell loans that are about to have payments. I think thats right unless they have changed everything since last may. Just a curious question as I can't remember and they may have introduced recently but can I expect an email notification that my sales have started when they do?. Yes I realise some loans will be back for sale, which is why I mentioned the word 'processing' earlier. I am not sure how I can check the proportion that is processing. I have not had an email to say either the sale has started or finished. I am not sure if everyone gets the same sort of update each Friday, but assume they are categorized, as mine did say 'Your sales will occur during April'.
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aju
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Post by aju on Apr 5, 2020 17:06:12 GMT
I'm sure you know this but just in case. Whilst your loan sale will go ahead mostly ok it should be noted that loans that are coming up for payments will not be sold. It does not mean that they are unsellable just that you cannot sell loans that are about to have payments. I think thats right unless they have changed everything since last may. Just a curious question as I can't remember and they may have introduced recently but can I expect an email notification that my sales have started when they do?. Yes I realise some loans will be back for sale, which is why I mentioned the word 'processing' earlier. I am not sure how I can check the proportion that is processing. I have not had an email to say either the sale has started or finished. I am not sure if everyone gets the same sort of update each Friday, but assume they are categorized, as mine did say 'Your sales will occur during April'. Thx, in the past I have not really been that mindful of what is reported on Zopa systems other than looking much closer at the day to day items that appear in the statements csv data. I have a spreadsheet I keep that catalogs what I was promised with what I actually received. Its not an easy task though. In my previous experience the sales items come in bursty blocks and previously were marked with the following items in a given sale periods. "Interest credits paid for RR request" (this is additional Interest payments to buyers of your loans.) "Rapidreturn Selling Fee" ( this is the 1% fee for a block of your loans that are sold off) "Loan to 0**********c sold via Rapid Return" (These entries are the loans that are sold out) Each block of loans sold will usally appear be in a single time slot depending on how many are grouped to together. All blocks will have the loans sold and the RR 1% fee for the block if there is additional Interest fees they seem to be last entry in a given block. In most cases I have found the fees are the last entries in each block after the actual loans sold. Below is an example from my May 2019 statements.csv (the numbers are contrived but you should be able to see similar if you download your statements csv for the month you are selling) Date Description Paid In Paid Out
---------------- ------------------------------------ ------- -------- 04/05/2019 09:50 Interest credits paid for RR request 0.00 1.72 04/05/2019 09:50 Rapidreturn Selling Fee 0.00 1.99 04/05/2019 09:50 Loan to 0***1a sold via Rapid Return 9.07 0.00 04/05/2019 09:50 Loan to 0***2b sold via Rapid Return 7.66 0.00 etc etc 04/05/2019 09:23 Interest credits paid for RR request 0.00 0.33 04/05/2019 09:23 Rapidreturn Selling Fee 0.00 1.21 04/05/2019 09:23 Loan to 0***4d sold via Rapid Return 9.31 0.00 04/05/2019 09:23 Loan to 0***5e sold via Rapid Return 6.22 0.00
and so on .... You may be able to see some of this effect in the statements without even downloading the csv depending on when you look in the download section as it give some entries for the current week. The one thing with the above is that each section that has an additional interest fee for loans that require it will enable you to see what hit you really get although Zopa might detail that anyway I can't remember.
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criston
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Post by criston on Apr 5, 2020 17:42:53 GMT
Thanks. At the moment because the 2 Classic accounts are in with accounts 1 & 2, I fear doing anything that may cause problems.
The loan book just keeps buffering & timing out, which I find generally happens to me at weekends.
What I can say is the unsaleable loans appear to have tripled since I placed my sell order on 15/3/20.
I would like to find out the proportion that are processing, but maybe the only way is to wait until I feel the selling has definitely stopped.
My best bet is with accounts 2 & 3; I will give it a couple of days after the selling has stopped. Then try & restart a new sale to see if there are any salable loans.
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aju
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Post by aju on Apr 5, 2020 17:53:15 GMT
Thanks. At the moment because the 2 Classic accounts are in with accounts 1 & 2, I fear doing anything that may cause problems. The loan book just keeps buffering & timing out, which I find generally happens to me at weekends.What I can say is the unsaleable loans appear to have tripled since I placed my sell order on 15/3/20. I would like to find out the proportion that are processing, but maybe the only way is to wait until I feel the selling has definitely stopped. My best bet is with accounts 2 & 3; I will give it a couple of days after the selling has stopped. Then try & restart a new sale to see if there are any salable loans. I'm not really sure the loanbook would help you much but if you are on a desktop using say chrome -then a lot of the time what is happening is that the server end is taking too long to load your part of the data into the current stores. One way round this is to let it fail the 1st time then click the back button (Usually left arrow on far left of browser url line) then once the previous screen returns try and go for the loanbook again. At each stage it fails just back button it and perform the action again. Zopa keeps promising to improve things but either they don't have the capability to fix it or they don't have the server power or they just keep giving us a load of old brown stuff from bulls!. It may work for you. Edit: I tried it on both the Invest and the ISA side and invest seems to be ok, but ISA is still giving "we have a problem 500" errors but the back button then request it again seemed to work ok for me. To be fair though I'm not too sure what you might be able to get out of looking at the loanbook during a sale all the information is in the statements file. I guess you will see loans disappearing from the loanbook but that's about it without resorting to Excel and looking in the "all_time" csv perhaps. Edit2: Oh I see now why you are looking in the loanbook sorry I misunderstood. I think you are right though all you will see is the loans that have not as yet sold. If you looked in the statements for last month you should potentially be able to what payments dates are affected to a certain extent. I assume you know how to use the loanbook screen part 1 to see what is expected to be paid for given days of the month is that what you are looking for. Its a good indicator but just that though.
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criston
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Post by criston on Apr 6, 2020 7:26:52 GMT
aju. Will look into what you suggest.
One of my Classic accounts set to sell at 08.00 on Monday 16th March has currently sold over 50%. The other, 0%, which was set up a few minutes after the first.
Both accounts 3 & 4 remain at 73% sold. So maybe all accounts are being rationed for the time being.
Edit 1. The second Classic account is now selling & reached approx 20% sold
Edit 2. One Classic account has stopped at 68% sold, the other at 70% sold.
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Post by Ace on Apr 6, 2020 8:17:18 GMT
I have a sale request that has sold 72% so far, but the last sale was on 29th March.
If I go through Access Funds -> Sell Loans pages to look at the progress it looks like this (my added text in blue)
So, my loan has effectively been paused for over a week now. I'm not sure whether it would be better to stop and restart the sale, with it's obvious delay consequences,or whether to give it more time. It's not a big deal for me given the small numbers, but might help the overall understanding of what's going on.
Has anyone else noticed a long pause and then had their sales restart?
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criston
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Post by criston on Apr 6, 2020 8:28:21 GMT
I have a sale request that has sold 72% so far, but the last loans sold were on 29th March. If I go through Access Funds -> Sell Loans pages to look at the progress it looks like this ( my added text in blue) So, my loan has effectively been paused for over a week now. I'm not sure whether it would be better to stop and restart the sale, with it's obvious delay consequences,or whether to give it more time. It's not a big deal for me given the small numbers, but might help the overall understanding of what's going on. Has anyone else noticed a long pause and then had their sales restart? That is my dilemma. You can only stop the sale to see if there is anything left to sell, but if you stop the sale, it could put you back months if there is anything still live.
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Post by Ace on Apr 6, 2020 8:37:13 GMT
I have a sale request that has sold 72% so far, but the last loans sold were on 29th March. If I go through Access Funds -> Sell Loans pages to look at the progress it looks like this ( my added text in blue) So, my loan has effectively been paused for over a week now. I'm not sure whether it would be better to stop and restart the sale, with it's obvious delay consequences,or whether to give it more time. It's not a big deal for me given the small numbers, but might help the overall understanding of what's going on. Has anyone else noticed a long pause and then had their sales restart? That is my dilemma. You can only stop the sale to see if there is anything left to sell, but if you stop the sale, it could put you back months if there is anything still live. But it clearly states that there are loans left to sell (£380.59 in my case) and also states that this excludes loans that can't be sold. It's just not selling them.
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aju
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Post by aju on Apr 6, 2020 8:38:15 GMT
I have a sale request that has sold 72% so far, but the last loans sold were on 29th March. If I go through Access Funds -> Sell Loans pages to look at the progress it looks like this ( my added text in blue) So, my loan has effectively been paused for over a week now. I'm not sure whether it would be better to stop and restart the sale, with it's obvious delay consequences,or whether to give it more time. It's not a big deal for me given the small numbers, but might help the overall understanding of what's going on. Has anyone else noticed a long pause and then had their sales restart? I haven't checked as yet but our loans were set up to sell on 17th March and not had even a whiff as yet so unless you are happy to wait a while I'd let it got to the end the restart it. We are trying to sell in both Plus and Core - at present we are getting quite a bit in returned funds so not sure what that does to the original estimates. I would normally take a more measured stance on selling myself but Mrs Aju was insistent we reduce our exposure in these trying times so my hands are tied. I just wish Zopa would hurry up and start the selling as my ears are getting sore from all the grief ... We are not selling out on PF covered classic loans but its not really that much left in those anyway. My personal view is that Zopa will ride the storm in this but even without Mrs Aju's stance I would have been reducing things as the defaults rate prior to this crisis were becoming a little bit iffy in my view. That said my recent forays into end of fin year stats does look like our previous sales in May 2019 where defaults were quite high may be turning the tide but its hard to be sure.
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criston
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Post by criston on Apr 6, 2020 8:45:41 GMT
That is my dilemma. You can only stop the sale to see if there is anything left to sell, but if you stop the sale, it could put you back months if there is anything still live. But it clearly states that there are loans left to sell (£380.59 in my case) and also states that this excludes loans that can't be sold. It's just not selling them. See what you mean.
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