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Post by fuzzyiceberg on Nov 26, 2020 12:56:42 GMT
Just received £18.31 as final SG payment. This doesnt cover the already defaulted £22.04 SG loans in my 'classic' ISA, let alone any of the remaining £901 of not yet defaulted loans. (And a tthat i'm ignoring the SG loans in my Core ISA - as Z say SG coverage of those was a 'bonus' despite they originated as SG loans and will have contributed to the fund). Shows what a bad way SG is in. And why FCA wanted P2P outfits to do away with them.
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Post by gricehead on Nov 26, 2020 14:13:11 GMT
I've not been following zopa that closely, as my outstanding capital plus interest on Classic is less than a good meal out - all acquired pre December 2017.
I don't really understand why my Loan Book Overview screen still tells me that "100% of your investment balance is covered by Zopa Safeguard Trust" when the email says that Safeguard has been wound down.
My final safeguard payment was approx 5% of outstanding capital + interest, or about 7% of outstanding capital fwiw.
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Post by ingenue on Nov 26, 2020 14:20:04 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Hands up who's 'feeling good'. Clearly Z can't be blamed for the woes of the global economy, but I do wish they'd give some more realistic appraisal of the current situation rather than merely 'Trust us, It's all going to be fine, really'.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Nov 26, 2020 14:55:13 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Hands up who's 'feeling good'. Clearly Z can't be blamed for the woes of the global economy, but I do wish they'd give some more realistic appraisal of the current situation rather than merely 'Trust us, It's all going to be fine, really'. This was always one of the problems with protection funds, either you put too much money in or too little, it's almost impossible to get it exactly right so at the end of the day there will be a surplus or a shortfall (that's also why lenders are trying to get out of RS while there are still funds in the PF). I do think it's fairer distributing the safeguard funds now rather than leaving the last lenders with defaulting loans to take all the pain. It was always discretionary anyway, so I'm happy to have my (very small) share now.
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mogish
Member of DD Central
Posts: 1,105
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Post by mogish on Nov 26, 2020 15:01:31 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Hands up who's 'feeling good'. Clearly Z can't be blamed for the woes of the global economy, but I do wish they'd give some more realistic appraisal of the current situation rather than merely 'Trust us, It's all going to be fine, really'. Unfortunately Ive lost my trust in all the platforms im with , too many "regret to inform you" e mails.... only way forward is to extract funds when available to limit potential losses
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Post by df on Nov 26, 2020 15:49:59 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Mine is 1.9% of remaining balance. For some reason I've expected a bit more than that, but it's better than nothing.
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Post by df on Nov 26, 2020 16:17:58 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Hands up who's 'feeling good'. Clearly Z can't be blamed for the woes of the global economy, but I do wish they'd give some more realistic appraisal of the current situation rather than merely 'Trust us, It's all going to be fine, really'. I feel good about this because I know that by the end of it I'll have a positive return from Z. Whatever happens with my remaining capital, I broke even about a month ago. For me, any p2p adventure ending without loss of capital is a good news  .
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Post by Deleted on Nov 26, 2020 16:28:22 GMT
I feel good about this because I know that by the end of it I'll have a positive return from Z. Whatever happens with my remaining capital, I broke even about a month ago. For me, any p2p adventure ending without loss of capital is a good news . Thats pretty much how I view things too. Any escape from a P2P platform without a loss is a success. Although my (now historical) foray into the P2P world does feel like a very stressful exercise in financial bullet-dodging, rather than a happy investment experience.
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Post by Ace on Nov 26, 2020 17:03:33 GMT
I feel good about this because I know that by the end of it I'll have a positive return from Z. Whatever happens with my remaining capital, I broke even about a month ago. For me, any p2p adventure ending without loss of capital is a good news . Thats pretty much how I view things too. Any escape from a P2P platform without a loss is a success. Although my (now historical) foray into the P2P world does feel like a very stressful exercise in financial bullet-dodging, rather than a happy investment experience. My failed experiment with Z is coming to an end, I'm nearly out. I've achieve an average return of about 3% pa over 3 years, so not terrible in today's low interest rate environment. I just don't feel that the risk is worth the reward on Z, and that there are better platforms available. If the better platforms were to become unavailable to non-institutional lenders I might be tempted to return to Z after covid has passed. It's OK, just not great. As usual, I'm much more positive than most posters on P2P in general. I've made losses on a few platforms, but these are far outweighed by profits on others. I'm making a decent living from P2P overall. I'm hoping that most of the downright crooked platforms have been exposed now, and that after a few more of the weaker ones fold due to covid, we will be left with an improved field. Peckers up. Good luck.
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Post by ingenue on Nov 26, 2020 20:36:09 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Mine is 1.9% of remaining balance. For some reason I've expected a bit more than that, but it's better than nothing. I'm hoping that with the demise of the SG, Access and Classic will be added to the performance stats so we can see how they finally perform.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Nov 27, 2020 7:52:08 GMT
Mine is 1.9% of remaining balance. For some reason I've expected a bit more than that, but it's better than nothing. I'm hoping that with the demise of the SG, Access and Classic will be added to the performance stats so we can see how they finally perform. IF as Z say 98% of safeguard loans have paid back, there's only 2% left to default. I don't know what percentage of that was included in the recent safeguard payment, probably not a lot.
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Post by ingenue on Nov 27, 2020 10:47:53 GMT
I'm hoping that with the demise of the SG, Access and Classic will be added to the performance stats so we can see how they finally perform. IF as Z say 98% of safeguard loans have paid back, there's only 2% left to default. I don't know what percentage of that was included in the recent safeguard payment, probably not a lot. Maybe I'm misunderstanding, but can't individual investors still have a lot more than 2% of their initial investment in Access or Classic remaining on loan? Worst case scenario and all those remaining loans defaulted with no SG cover, there would be a huge hit to final performance. That's why it would be nice to see the NAR as we do for the other non SG products.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
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Post by coogaruk on Nov 27, 2020 14:27:12 GMT
Just had an email with payout, which is probably about 1.7% of my remaining amount, within the email saying it won't cover all future defaults. To me it does seem like a bit of an attempt to avoid negative headlines saying that the Zopa Safeguard fund has run out of money. Mine is 1.9% of remaining balance. For some reason I've expected a bit more than that, but it's better than nothing. 45p in my case. Not sure what that equates to in percentage terms. I've been running down for three years and less than 100 quid left, some of which is lingering unlent awaiting withdrawal.
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Post by df on Nov 27, 2020 18:52:43 GMT
Mine is 1.9% of remaining balance. For some reason I've expected a bit more than that, but it's better than nothing. 45p in my case. Not sure what that equates to in percentage terms. I've been running down for three years and less than 100 quid left, some of which is lingering unlent awaiting withdrawal. Looks like about 0.5%. They said that the funds will be allocated according to their estimation of risk of the loans in individual portfolios. So presumably your 100 quid are not very risky.
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one21
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Post by one21 on Nov 28, 2020 9:26:34 GMT
We have around 1.3k left and received 3% of remaining capital. I just hope that future defaults are from genuine hardship cases and not from desirers of the latest fashion or tech item as with all p2p I suppose.
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