No re-investment toggle (Z)

Lending stopped altogether for approx 6 weeks from 31 Dec 2020 to (in my case) 10 Feb 2021 while they messed with the new site. When it restarted it was in 5 pound chunks. I recall seeing something - probably an update - where they mentioned this. They also acknowledged that the move would not shorten queues overall but short-term it would mean more lenders seeing some action in the current conditions.

Those with a (new style) loan book actually containing very recent loans from 10 Feb and after may notice that there are some entries in the "Transaction price" and "Transaction date" fields. These are secondhand loans (what used to be termed Rapid Return). Where there is no entry the loan will be a new 5-pound loan and that will show in the "Amount invested" column, otherwise it is a RR loan. If the original loan part had 8 pounds outstanding one investor will pick up a 5 pound loan part and another will pick up the other 3 pounds. The evidence that the split is done like this rather than 50/50 lies in the number of full 5- pound loans one received where the borrower has had the loan for a year or more and therefore must have repaid some of the original.

As for matching times, yes the last update indicates 2 months wait, though that is not my experience (it used to be!). Three times this month I've topped up 100 pounds of new money in Plus and on each occasion it has started to trickle out the same or next day, and all gone within a week or less (re-investing turned on too). The update does talk about queuing money from new investors rather than queueing new money from existing investors so I don't know if that distinction is significant.

(sorry .. No pound signs!)

So I lent this money from my holding account and within less than an hour or two i have 2 Old (but new to me ) plus loans @ 11% and 3.2%. I can live with that they are due to end in Jan and Jul next year. sadly can't really see anymore if they have had some troubles as Zopa removed the comment field but the arrears column looks good at the moment.

The loans are pickups (previously sold) so they have not proved that much if anything on the £5 loans saga - see triums experience above. The loans data that determines these are not new in my view is as it always been and that is the Loan Start Date is different to the Acquired date. 

Ok, so the new loans show the transaction data as trium has pointed out but it has a very interesting aspect in that I am wondering if the difference in the Amount invested and the transaction amount - its always higher - is in fact the RR payments received from the seller (Interest mismatch to my benefit). The values are small 1p to 28p but i am guessing this is the case. I can't remember at the moment but i'm certain the old detailed statements used to be useful for seeing the RR benefit values.

The other thing that I have now determined is that with Zopa removing old defaults data and in our case some loans that were live the week before the switchover and were missing completely a week later after the switch (I am still on their case about the missing loans) its clear that if i did not have the previous alltime data that we have now lost then

   A. I would not be able see my full loanbook anymore
   B. I would not have noticed missing loans
   C. Would not be able to have correct losses info (older defaults) to compare with Zopa figures for stats.

Ok so most people won't even know that some valid loans may have gone missing for them - my old statements reporting tool was able to tell me those loans positions before the switchover and it still can on the old data from any loans up to the switch date - early february. In some cases i could see they had a single payments left that would mean they were probably completed correctly if i am right but 4 of them were not planned to complete and i have no way of knowing why they disappeared or what there state was when they finished. Zopa has said they completed correctly but as yet my request for the evidence of the closing states and their values has not yet materialised. (They have a little while longer of the statutory 8 weeks but i'm convinced they do not know have to present it so i may understand it or worse they have lost the tools to even find it out.) 

Oops i've ranted on again about the trial and tribulations of being a disillusioned Zopa lender. Bit off topic sorry. Interesting i've mentioned this last thing about lost loans in a few places but no one else seems to have suffered or they are just keeping quiet about it waiting to see what outcomes i might achieve. 

Well they don't seem to want mine as I have a lot of funds queued. I guess I'm already matched to the available loans, if you haven't been lending for a while it may be easier to get matched.