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Post by valerieb on Mar 23, 2014 19:15:52 GMT
I liked the bit about 80% rejection/20% acceptance. There must be endless bad/poor deals floating around at this point in the business cycle. The 80% rejection rate just related to bridging loans.
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mikes1531
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Post by mikes1531 on Mar 23, 2014 23:23:44 GMT
Will someone else please explain what 'fishing' was on the ZOPA site - I did easteregging. My quick calculation suggested that these people were earning significantly less than the minimum wage by going to this effort. But we were having so much fun it was worth it for the entertainment value! Before Zopa changed the rules to make the allocation of RR'd loan parts 'fairer', it was possible to pick up huge piles of parts very quickly if you happened to be at the front of the queue when another lender decided to dump a bunch of parts. So there was money to be made, but it was rather hit and miss -- sometimes you caught a lot, and sometimes you lost your bait.
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mikes1531
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Post by mikes1531 on Mar 23, 2014 23:27:10 GMT
ZOPA was insulated from falling interest rates as it charged 1% of the loan amount ... Possibly worse than apparently above, the 1% was 1% p.a.
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Post by oldnick on Mar 24, 2014 5:21:24 GMT
ZOPA was insulated from falling interest rates as it charged 1% of the loan amount ... Possibly worse than apparently above, the 1% was 1% p.a.
How's that going for them these days? I don't go on the ZOPA forum anymore - it just depressed me to read the lenders comments on the new regime.
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duck
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Post by duck on Mar 24, 2014 5:23:53 GMT
not only was it fun (who doesn't like trying to beat 'the system'?) certainly in my case it pushed my average return up by a by a couple of points (obviously early redemptions might hit that a bit) and with a loan book at that time>2500 loans that nudge in the right direction was certainly welcome .................. when all the fun stopped then I stopped.
Anyway apologies for being the first to mention 'fishing' I appear to have sent this thread off track 
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Post by henders on Mar 24, 2014 9:28:34 GMT
I attended on Saturday, an excellent (and very professional) session!
I think the expression is it helps to "see the whites of their eyes".
I am a current investor (bridging) and wanted to understand more about the longer term propositions (property development and business loans) as well as getting a feel for the experience/capability of the team, their trustworthiness, their plans for the business and, hopefully, get a decent lunch.
I came away very enthused. All of the team are massively experienced in the fields that they manage and really know their subject. As a lender, all this experience and know-how is provided as part of the deal. In my opinion if Andrew, David and Ken think the loan (and the client) is viable then I am satisfied (subject to my own added criteria for investing). Also I am encouraged that Chris has ambitious (but realistic) development plans for the web interface.
As a result of this day I will certainly be looking to invest more in Assetz.
The lunch was excellent as well.
Well done the Assetz team.
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Post by yorkshireman on Mar 24, 2014 10:07:28 GMT
Although I did not attend the lender day, I am genuinely pleased to hear the positive comments of those who did.
Having got it out of the way and created an atmosphere of goodwill, could AC now get concentrate on day to day operations and get some loans drawn down please.
That is said constructively in good faith and not as a snide comment.
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Post by andrewholgate on Mar 24, 2014 10:15:18 GMT
Although I did not attend the lender day, I am genuinely pleased to hear the positive comments of those who did.
Having got it out of the way and created an atmosphere of goodwill, could AC now get concentrate on day to day operations and get some loans drawn down please.
That is said constructively in good faith and not as a snide comment.
Yes, working on it.
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mikes1531
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Post by mikes1531 on Mar 24, 2014 15:40:40 GMT
How's that going for them these days? I don't go on the ZOPA forum anymore - it just depressed me to read the lenders comments on the new regime. The short answer is that it's hard to say. They've proved that if they set their rates to borrowers low enough they can generate enough demand to lend all the funds lenders are willing to offer. So their problem is getting lenders to offer funds. They've tried a number of schemes to entice lenders to offer, and by and large they've been successful. But it appears that the schemes have a significant cost to Zopa. The current scheme promises Lenders a 5% return after fees for money lent for a 4 or 5 year term. Yet they seem to be charging borrowers less than that. So it looks like they're operating with a negative 'spread' on those loans. That doesn't strike me as a sustainable policy, so I wonder what they'll do next, once the current scheme expires in ten days' time.
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Post by oldnick on Mar 24, 2014 16:05:23 GMT
How's that going for them these days? I don't go on the ZOPA forum anymore - it just depressed me to read the lenders comments on the new regime. The short answer is that it's hard to say. They've proved that if they set their rates to borrowers low enough they can generate enough demand to lend all the funds lenders are willing to offer. So their problem is getting lenders to offer funds. They've tried a number of schemes to entice lenders to offer, and by and large they've been successful. But it appears that the schemes have a significant cost to Zopa. The current scheme promises Lenders a 5% return after fees for money lent for a 4 or 5 year term. Yet they seem to be charging borrowers less than that. So it looks like they're operating with a negative 'spread' on those loans. That doesn't strike me as a sustainable policy, so I wonder what they'll do next, once the current scheme expires in ten days' time. I suppose ISA money may come in handy, and then there's all the money that won't be going into annuities... but none of that is immediate.
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pikestaff
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Post by pikestaff on Mar 27, 2014 19:02:06 GMT
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Post by andrewholgate on Mar 28, 2014 11:34:03 GMT
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Post by oldnick on Mar 28, 2014 11:44:59 GMT
I started watching it but I knew the ending. Put more car chases and explosions in the next one please 
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Post by chris on Mar 28, 2014 11:47:46 GMT
I started watching it but I knew the ending. Put more car chases and explosions in the next one please Be careful what you wish for!
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Post by bracknellboy on Mar 28, 2014 13:30:48 GMT
<abbr>chris: how long are these going to be up on the website for ? Effecitvely indefinitely ? Or are they hosted somewhere else and you have a time limit on them ?</abbr>
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