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Post by paul123 on Oct 4, 2020 15:07:05 GMT
Zopa Plus: minimum £1000, median return 4.2%, early exit fee 1%
Assetz Capital Access: no minimum, return 3.75%-4.1%, early exit fee 7%
These are all ballpark figures and everything could change tomorrow. The products aren’t like for like but something to think about.
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ceejay
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Post by ceejay on Oct 4, 2020 16:54:14 GMT
Zopa Plus: minimum £1000, median return 4.2%, early exit fee 1% Assetz Capital Access: no minimum, return 3.75%-4.1%, early exit fee 7% These are all ballpark figures and everything could change tomorrow. The products aren’t like for like but something to think about. Not exactly a fair comparison, especially if it is intended for someone considering investing in either. A new investor in the AC Access accounts will benefit from a discount on entry and potentially suffer a discount on exit, could go a couple of points either way. You're also forgetting the current AC lender fee which takes a piece off the interest, though we have no idea how much longer that will continue.
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Greenwood2
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Post by Greenwood2 on Oct 4, 2020 17:12:30 GMT
There can also be a 'market rate adjustment' on Zopa early exit (ie, you compensate the buyer for the difference between your loan rate and the current loan rates so they are not disadvantaged by buying your old loans) which I believe have been quite high recently. But you can just let the account run down for zero fee.
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dead-money
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Post by dead-money on Oct 4, 2020 21:28:08 GMT
Zopa Plus: minimum £1000, median return 4.2%, early exit fee 1% Assetz Capital Access: no minimum, return 3.75%-4.1%, early exit fee 7% These are all ballpark figures and everything could change tomorrow. The products aren’t like for like but something to think about. Not exactly a fair comparison, especially if it is intended for someone considering investing in either. A new investor in the AC Access accounts will benefit from a discount on entry and potentially suffer a discount on exit, could go a couple of points either way. You're also forgetting the current AC lender fee which takes a piece off the interest, though we have no idea how much longer that will continue. Those rates quoted on AC AAs are after the lender fee is deducted and apply to all account holders.
Don't know how you'd compare that to a 2.1% to 5.3% range. NB Zopa Plus median return currently shows as 3.7%.
The spread between QAA entry and exit discount over last month has been less than 0.5%.
But you're still comparing Apples and PineApples.
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dave4
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Post by dave4 on Oct 5, 2020 7:42:20 GMT
Also slightly different fisks.
The Zopa Fixed Term Savings Account offers a competitive rate over 1-5 years at a time when rates are at a historic low. The account can be opened in as little as 7 minutes online and is protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
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dead-money
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Post by dead-money on Oct 5, 2020 8:57:28 GMT
Also slightly different fisks. The Zopa Fixed Term Savings Account offers a competitive rate over 1-5 years at a time when rates are at a historic low. The account can be opened in as little as 7 minutes online and is protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. Err Nope.
Zopa Plus and Zopa Core are P2P from Zopa Ltd.
Zopa Savings is an entirely different product from Zopa Bank Ltd and pays circa 1% interest only.
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Post by paul123 on Oct 5, 2020 9:56:35 GMT
Not exactly a fair comparison, especially if it is intended for someone considering investing in either. A new investor in the AC Access accounts will benefit from a discount on entry and potentially suffer a discount on exit, could go a couple of points either way. You're also forgetting the current AC lender fee which takes a piece off the interest, though we have no idea how much longer that will continue. Those rates quoted on AC AAs are after the lender fee is deducted and apply to all account holders.
Don't know how you'd compare that to a 2.1% to 5.3% range. NB Zopa Plus median return currently shows as 3.7%.
The spread between QAA entry and exit discount over last month has been less than 0.5%.
But you're still comparing Apples and PineApples. Thanks, I took my 4.2% from zopa statistics for 2019, can you tell me where the 3.7% bit is please?
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Post by Ace on Oct 5, 2020 13:14:06 GMT
Those rates quoted on AC AAs are after the lender fee is deducted and apply to all account holders.
Don't know how you'd compare that to a 2.1% to 5.3% range. NB Zopa Plus median return currently shows as 3.7%.
The spread between QAA entry and exit discount over last month has been less than 0.5%.
But you're still comparing Apples and PineApples. Thanks, I took my 4.2% from zopa statistics for 2019, can you tell me where the 3.7% bit is please? The following was taken directly from Zopa's "invest" page today: Zopa Plus Projected return range 2.1% - 5.3%
We expect 95% of customers to achieve a return of at least 2.1% (after fees and losses). A middle-performing investor should expect to earn 3.7%.
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dave4
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Post by dave4 on Oct 5, 2020 13:18:28 GMT
Also slightly different fisks. The Zopa Fixed Term Savings Account offers a competitive rate over 1-5 years at a time when rates are at a historic low. The account can be opened in as little as 7 minutes online and is protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. Err Nope.
Zopa Plus and Zopa Core are P2P from Zopa Ltd.
Zopa Savings is an entirely different product from Zopa Bank Ltd and pays circa 1% interest only.
O sorry my mistake. Thanks for the correction.
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ashtondav
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Post by ashtondav on Oct 6, 2020 16:40:14 GMT
I’m reinvesting a/c returned interest and capital at discounted rates, although they’re narrowing now and currently below 7%.
However for new capital I’d go for Zopa. Alone of the big 5 it is still open for business, accepting new lenders and borrowers. IMO that indicates a better business model. No?
As for comparing rates, I use that to guesstimate what my future returns may be. Looks like 3% to 4% with “average” luck.
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blender
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Post by blender on Oct 6, 2020 18:10:30 GMT
Zopa does personal loans to individuals. Not for me thanks, whatever the numbers.
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Greenwood2
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Post by Greenwood2 on Oct 6, 2020 19:18:24 GMT
Zopa does personal loans to individuals. Not for me thanks, whatever the numbers. I suspect (and hope) that Zopa will be above savings accounts rates for the indefinite future (but I could be wrong).
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ashtondav
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Post by ashtondav on Oct 7, 2020 9:27:20 GMT
Zopa does personal loans to individuals. Not for me thanks, whatever the numbers. Interesting. I consider them lower risk than one man band property developers and small companies. 17% of the uk population is employed by the public sector so lending to this segment alone is virtually risk free. I’d say that only 20% of the population is in risky jobs. On the other hand I’ve heard (not got facts) that 50% of small business start ups go belly up. In a really bad recession about 10% of the workforce is unemployed. 90% retain their jobs and income. Regardless, Zopa is running business as usual. None of the other top 4 can do that.
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Greenwood2
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Post by Greenwood2 on Oct 21, 2020 19:26:40 GMT
Looks OK but really a young platform, treat with caution in my opinion.
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