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Post by indexfund on May 8, 2021 10:42:50 GMT
I have a small amount left in Z, just draining out as most are probably doing. However, just logged in and monies are still going into the "£*** is in the queue, waiting to be invested in new loans." And there is no longer the ability to turn re-investment off... or have I missed something!
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Greenwood2
Member of DD Central
Posts: 4,376
Likes: 2,780
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Post by Greenwood2 on May 8, 2021 11:18:48 GMT
Under Investment Summary, click on 'access money' and there is an option to turn off reinvestments.
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Post by indexfund on May 8, 2021 12:15:25 GMT
Under Investment Summary, click on 'access money' and there is an option to turn off reinvestments. Thankyou, but bizarrely it's not there! Zopa suggest this: "Manage repayments You can make money available without paying fees by turning off reinvestments. When you do this money will slowly accumulate and become available in your holding account. Use the 'Manage' button on your investment to update this setting." But this isn't there either. Maybe it's a glitch or maybe it's my browser.....
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Post by indexfund on May 8, 2021 12:19:58 GMT
Found it... Investments/investment breakdown/"more details"
Thanks again
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aju
Member of DD Central
Posts: 3,500 
Likes: 924
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Post by aju on May 8, 2021 15:13:06 GMT
Under Investment Summary, click on 'access money' and there is an option to turn off reinvestments. Thankyou, but bizarrely it's not there! Zopa suggest this: "Manage repayments You can make money available without paying fees by turning off reinvestments. When you do this money will slowly accumulate and become available in your holding account. Use the 'Manage' button on your investment to update this setting." But this isn't there either. Maybe it's a glitch or maybe it's my browser..... Sadly its Zopa's way of making it harder to stop investing, that's what a cynic would think, I couldn't possibly comment!.  I guess they are all hands to the pumps on other fixes and that one slipped by perhaps.  I've been lucky though as i have had reinvesting turned off from an earlier much clearer and simpler time. Even more interesting as I dug around trying to understand the new system I found that Classic had reinvesting set on which is very interesting as I thought i had turned them all off in the older pages more than 12 months ago!. I wonder from that how many people are still reinvesting and cannot figure out how to turn it off I guess not many as support would be inundated with calls by now. Mind you i bet the majority of people haven't even noticed its changed.
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Post by indexfund on May 8, 2021 15:16:58 GMT
Thankyou, but bizarrely it's not there! Zopa suggest this: "Manage repayments You can make money available without paying fees by turning off reinvestments. When you do this money will slowly accumulate and become available in your holding account. Use the 'Manage' button on your investment to update this setting." But this isn't there either. Maybe it's a glitch or maybe it's my browser..... Sadly its Zopa's way of making it harder to stop investing, that's what a cynic would think, I couldn't possibly comment!. I guess they are all hands to the pumps on other fixes and that one slipped by perhaps. I've been lucky though as i have had reinvesting turned off from an earlier much clearer and simple time. I did wonder if it was a sly move on their part. They've certainly hidden it rather well!
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Post by Ton ⓉⓞⓃ on May 9, 2021 11:13:13 GMT
I switched off re-lending just over a year ago and I'm relieved to see I'm still switched off, first time I've logged in in all that time. And the new layout is confusing, not sure if it's just change or it really is harder, either way it's annoying. I'm considering switching on, but I can't see any projections of rates when logged in? Am I being naive again? Though when logged out I can see,
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Post by Ace on May 9, 2021 11:42:24 GMT
The weekly update email gives projected returns for loans made in the previous 4 weeks. The last one stated 3.5% and 4.2%. It also stated that the expected cash drag would be 56 days and 54 days. I doubt the expected returns include the drag. There's got to be better places to invest than this.
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Post by fuzzyiceberg on May 10, 2021 8:38:38 GMT
I'd love to know of a better place to invest than this - for the same level of risk, of course. Now that Zopa have implemented their 5% diversification (rather than teh previous 10%) it is almost nailed on that you will get something close to the actual overall Zopa portfolio return. So as long as you think Zopas credit wonks have finally got it right (they screwed up big time in 2018/19 - losses way over estimate) a return around the middle of their quoted range should be easily achieveable.
My views only, of course, others may differ and have different risk appetites.
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Post by Ace on May 10, 2021 9:23:51 GMT
I'd love to know of a better place to invest than this - for the same level of risk, of course. Now that Zopa have implemented their 5% diversification (rather than teh previous 10%) it is almost nailed on that you will get something close to the actual overall Zopa portfolio return. So as long as you think Zopas credit wonks have finally got it right (they screwed up big time in 2018/19 - losses way over estimate) a return around the middle of their quoted range should be easily achieveable.
My views only, of course, others may differ and have different risk appetites.
IMO, low LTV property secured investments with good diversification has to be safer than unsecured consumer credit loans in the current climate. I would put Loanpad at the safest end of the range, with commensurately low rates of course. Then add in their zero cash drag compared with 50+ days at Zopa. Plenty of other options if you're prepared to head higher up the LTV/risk scale. Pawn loans have proved very resilient for me with the likes of Unbolted, but it's difficult to get funds deployed there, so only suitable for small sums.
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aju
Member of DD Central
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Likes: 924
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Post by aju on May 10, 2021 9:27:37 GMT
I'm very curious as to why Zopa has made it so much harder to actually check their stats across the board. The fact that 4thway site no longer can give them a rating due to the lack of information being provided says it all to me now. Having a 5% diversification rather than 10% may not actually make much difference in my view unless they are truly controlling this. Surely if i want to circumvent this how will they know unless they require me to supply details of my other investments and funds. Since I have had investing off for over a year now i have not actually reinstated the ability to lend forms. If thats what you meant by the diversification. Ton ⓉⓞⓃ , I'd be interested in how your Zopa portfolio is fairing in terms of increased defaults as from our perspective our ISA's both of them are in fact in heavy loss - the non ISA was in fact a longer lasting product and has seemed to fair better. If it were not for the fact that we had built up a very large head of steam (returns) prior to that for a number of years we would be looking at potential capital loss. Thankfully we have been lucky that we started early. Having sold off a lot we have to take into account the very much increased MRA hit too. |
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Post by stevexxx on May 10, 2021 14:41:09 GMT
I have my accounts set with re-investments off and nothing has changed there, been drawing down for 2 years now with no problems. Last year despite the drawdowns and covid I,m still in profit though it was only a small gain but at least it wasn,t an annual loss which I had expected. Checking monthly now, not sure anything has improved. but hoping things will improve and may turn back on re-investments in the coming months... I like the new lay-out, it works better for me.
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Post by fuzzyiceberg on May 11, 2021 7:19:57 GMT
I'd love to know of a better place to invest than this - for the same level of risk, of course. Now that Zopa have implemented their 5% diversification (rather than teh previous 10%) it is almost nailed on that you will get something close to the actual overall Zopa portfolio return. So as long as you think Zopas credit wonks have finally got it right (they screwed up big time in 2018/19 - losses way over estimate) a return around the middle of their quoted range should be easily achieveable.
My views only, of course, others may differ and have different risk appetites.
IMO, low LTV property secured investments with good diversification has to be safer than unsecured consumer credit loans in the current climate. I would put Loanpad at the safest end of the range, with commensurately low rates of course. Then add in their zero cash drag compared with 50+ days at Zopa. Plenty of other options if you're prepared to head higher up the LTV/risk scale. Pawn loans have proved very resilient for me with the likes of Unbolted, but it's difficult to get funds deployed there, so only suitable for small sums. Ok - Secured property investment is (at least for me) a different risk proposition than zopa. So not like for like. Personally if i wanted to invest in property loans ( I dont - I have a lot of equity in owned property) I would simply buy a suitable investment trust or ETF. Far too many property based p2p outfits have gone bust leaving investors with serious to catastrophic losses for any to be of interest for me. Hope you are luckier.
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Post by fuzzyiceberg on May 11, 2021 7:28:38 GMT
I'm very curious as to why Zopa has made it so much harder to actually check their stats across the board. The fact that 4thway site no longer can give them a rating due to the lack of information being provided says it all to me now. Having a 5% diversification rather than 10% may not actually make much difference in my view unless they are truly controlling this. Surely if i want to circumvent this how will they know unless they require me to supply details of my other investments and funds. Since I have had investing off for over a year now i have not actually reinstated the ability to lend forms. If thats what you meant by the diversification. Ton ⓉⓞⓃ , I'd be interested in how your Zopa portfolio is fairing in terms of increased defaults as from our perspective our ISA's both of them are in fact in heavy loss - the non ISA was in fact a longer lasting product and has seemed to fair better. If it were not for the fact that we had built up a very large head of steam (returns) prior to that for a number of years we would be looking at potential capital loss. Thankfully we have been lucky that we started early. Having sold off a lot we have to take into account the very much increased MRA hit too. Aju - the 5% diversification I mentioned is simply diversification of loans allocated to individuals within their Zopa portfolio. Previously they allocated a maximum of 10% of a loan to an individual, now the maximum is 5%. In practice what this means is that you will get more loans with smaller capital amounts. This means you are statisticallly more likely to achive a retuin nearer the mean of the overall zopa loan portfolio for your chosen product than previously, and less likely to achieve a result much further from that mean, wether it be positive or negative.
Your overall financial diversification - how much Zopa makes up of your overall financial investments remains of course entirely up to you.
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Post by fuzzyiceberg on May 11, 2021 7:34:15 GMT
I switched off re-lending just over a year ago and I'm relieved to see I'm still switched off, first time I've logged in in all that time. And the new layout is confusing, not sure if it's just change or it really is harder, either way it's annoying. I'm considering switching on, but I can't see any projections of rates when logged in? Am I being naive again? The rates you have copied are the projected rates for new loan portfolios. So those are the rates you would expect to earn on reinvested money, but any existing portfolios loans will likey achieve different average rates depending on their age.
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