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Post by geofft on Oct 15, 2021 11:29:29 GMT
im getting more returned to my holding account than is being reinvested, writing on the wall? RS LW AC, they all have went the same way , im trying to convince myself its better ticking it in my Sipp anyway , is 3% with Zopa really worth the risk and hassle? Yes its not great but our trickle returning is getting lent out slowly but it is still lending. It is what it is at the moment... Yep, large chunks of reinvestment cash queued or being transferred to my holding a/c's. It just seemed to be ISA reinvestment cash that was stalling earlier, but now the standard investments seem to be going the same way. I get the feeling that Zopa are making little effort to pull in new borrowers at the moment, all part of their p2p rundown process I guess.
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ashtondav
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Post by ashtondav on Oct 15, 2021 12:04:09 GMT
3% is pretty good. In the heyday of Z, when BS rates were 5% I used to get an extra 40% or 50% - 7% to 7.5% on my Zopa account. Now BS rates are 1% or less. I’m getting 3 times that rate!
its a shame p2p is dying. The likes of RS, AC, Z and even FC got me very decent returns over a number of years. Now I’m trying loanpad, Proplend and unbolted. But I’d far prefer retail lending.
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mogish
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Post by mogish on Oct 15, 2021 12:52:13 GMT
3% is pretty good. In the heyday of Z, when BS rates were 5% I used to get an extra 40% or 50% - 7% to 7.5% on my Zopa account. Now BS rates are 1% or less. I’m getting 3 times that rate! its a shame p2p is dying. The likes of RS, AC, Z and even FC got me very decent returns over a number of years. Now I’m trying loanpad, Proplend and unbolted. But I’d far prefer retail lending. Very positive way of looking at it  Looks like we are all in the last few you mentioned . Yes the early days of RS and AC were very good , only have a small amout left in AC which has lost its way , and only got burned with Wellesley. Overall still in positive territory , fingers crossed LP continues without any hickups.
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trium
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Post by trium on Oct 17, 2021 13:38:54 GMT
My Zopa account has just passed its 10th anniversary. The world is a very different place now. I used to make 9% after bad debt, now it's just 3.5%.
I have run my account down and only have about £7k left. I don't know if the account size affects the pace of re-lending but I appear to have been relatively immune to the very long queue times others have experienced, though the pause in new lending during the recent system outage has caused queued funds of typically £40-£50 to grow to £260. Hopefully a temporary blip.
XIRR has improved a little recently. I think that's partly due to Covid forbearance on loans which would otherwise have defaulted. Having said that, October is proving to be a horrid month for defaults,
There's still a place for Zopa in my portfolio but it isn't a very prominent one.
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Post by grotdog on Oct 25, 2021 10:13:45 GMT
Interesting to see zopa proudly announcing to investors that they have raised another £220 million this week. Great. So at the moment there is a queue of around 70 days to match loans with investor funds - the same investors that supported and set zopa up, but no, zopa rejects their money and wont reinvest it, and is instead using its own banking license to get cheap dosh and lend that instead. To use the popular phrase - I'm out.
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agent69
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Post by agent69 on Oct 25, 2021 12:15:26 GMT
Interesting to see zopa proudly announcing to investors that they have raised another £220 million this week. Great. So at the moment there is a queue of around 70 days to match loans with investor funds - the same investors that supported and set zopa up, but no, zopa rejects their money and wont reinvest it, and is instead using its own banking license to get cheap dosh and lend that instead. To use the popular phrase - I'm out. And were well rewarded for doing so.
Ultimately, Zopa is a business, and there's no room for sentiment if you want to be sucessful.
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69m
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Post by 69m on Oct 25, 2021 12:30:06 GMT
Interesting to see zopa proudly announcing to investors that they have raised another £220 million this week. Great. So at the moment there is a queue of around 70 days to match loans with investor funds - the same investors that supported and set zopa up, but no, zopa rejects their money and wont reinvest it, and is instead using its own banking license to get cheap dosh and lend that instead. To use the popular phrase - I'm out. I believe that the £220 million is an investment in the Zopa business, rather than an inflow of cash to be lent out.
Nevertheless, it's telling that Zopa's official announcement doesn't mention P2P at all. Maybe every P2P lender will soon be "out", whether or not they want to be?
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