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Post by newlender on Apr 12, 2016 5:59:47 GMT
The Z+ queue seems to be moving at a painfully slow rate ever since it was launched. Is the reason for this: a) that there are not enough D and E borrowers to ensure the required blend of loans b) that there is a very large amount of new money that has been attracted by the better rates c) that many lenders are selling some Classic loans in order to move the money across d) all of the above? If ever we needed a visible lending queue, it's now.
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Post by propman on Apr 12, 2016 7:17:18 GMT
I haven't lent any money in Zopa for quite some time prior to the launch of Z+, but my lending is at a reasonable rate. I wasn't in for the first few days and now have 170 loans (as well as 2 that repaid). remember that everyone was forced to lend a minimum £1,000 as a first tranche, so initially lending will inevitably take a little while.
I was trying to diversify with a little Classic that hasn't moved. Any experience of how fast recycled and new money is moving in that queue?
- PM
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ferdy
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Post by ferdy on Apr 13, 2016 8:27:40 GMT
I haven't lent any money in Zopa for quite some time prior to the launch of Z+, but my lending is at a reasonable rate. I wasn't in for the first few days and now have 170 loans (as well as 2 that repaid). remember that everyone was forced to lend a minimum £1,000 as a first tranche, so initially lending will inevitably take a little while.
I was trying to diversify with a little Classic that hasn't moved. Any experience of how fast recycled and new money is moving in that queue?
- PM I invested a small amount in Classic on April 4th. All of it still in queue. I lent min. £1000 in Z+ on April 8th. All of it still in queue! Lending Works even slower though !
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Post by wyndstryke on Apr 13, 2016 17:44:41 GMT
I put a few grand into ZopaAccess at the start of the month (i.e., the very worst point to put in new money), and it's about 80% lent out now which IMO is pretty quick in the grand scheme of things.
I've been recycling my ZopaClassic repayments into ZopaAccess too.
I'm not going to touch Zopa+ until late June because of the uncertainty about EU membership, which may have significant economic effects.
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aju
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Post by aju on Apr 14, 2016 10:43:45 GMT
My Zopa+ dashboard detail is showing 2 Matching to borrowers £400+" and 100+ "In the new money queue" yet I don't have enough funds to match the 1000 minimum needed.
Wonder what that means! the help on the entry for new money queue say...
"We are working on providing lenders with visibility of lending speeds for our new Zopa products"
Interesting!!
Edit: Just checked later in the day 21:49 and the new money queue moved to "Matching to borrowers" still not actually lent though ;-( Has taken 3 weeks I think to get to over £500 though so not too much longer to wait. Have a couple of good days coming up though so hopefully will get me a lot nearer.
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Post by Ton ⓉⓞⓃ on Apr 18, 2016 22:35:32 GMT
My Zopa+ dashboard detail is showing 2 Matching to borrowers £400+" and 100+ "In the new money queue" yet I don't have enough funds to match the 1000 minimum needed. Wonder what that means! the help on the entry for new money queue say... "We are working on providing lenders with visibility of lending speeds for our new Zopa products" Interesting!! Edit: Just checked later in the day 21:49 and the new money queue moved to "Matching to borrowers" still not actually lent though ;-( Has taken 3 weeks I think to get to over £500 though so not too much longer to wait. Have a couple of good days coming up though so hopefully will get me a lot nearer. Have you lent anything in Z+ yet? My first loan in Z+ was dated 30/3/16 (their application date) and all my initial 1k has been lent out with one full repayment in the queue to be relent.
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aju
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Post by aju on Apr 18, 2016 23:35:56 GMT
My Zopa+ dashboard detail is showing 2 Matching to borrowers £400+" and 100+ "In the new money queue" yet I don't have enough funds to match the 1000 minimum needed. Wonder what that means! the help on the entry for new money queue say... "We are working on providing lenders with visibility of lending speeds for our new Zopa products" Interesting!! Edit: Just checked later in the day 21:49 and the new money queue moved to "Matching to borrowers" still not actually lent though ;-( Has taken 3 weeks I think to get to over £500 though so not too much longer to wait. Have a couple of good days coming up though so hopefully will get me a lot nearer. Have you lent anything in Z+ yet? My first loan in Z+ was dated 30/3/16 (their application date) and all my initial 1k has been lent out with one full repayment in the queue to be relent. Not as yet, I have nearly 600 now but it seems to have slowed down a bit nothing is actually lent as such just in "Matching to borrowers". It seems that there are 2 queues as well though - one is new money and one is repayments - but I haven't actually put any new money in for over a year so not sure what that is. There was an odd thing the other day that meant there was money in holding but not sure where it came from I just re-lent it but I didn't really note how much it was.
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Greenwood2
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Post by Greenwood2 on Apr 20, 2016 9:43:32 GMT
If you re-lend money out of your holding account it goes into the new money queue. It should normally automatically go into your nominated account (unless you have re-lending turned off) but sometimes it's slow to move, and if you pre-empt it you go to the back of the new money queue. Did it myself the other day and then realised what I'd done!
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aju
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Post by aju on Apr 20, 2016 10:41:24 GMT
thats probably what happened then, i need to be more patient ;-)
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Post by dualinvestor on Apr 20, 2016 11:23:59 GMT
thats probably what happened then, i need to be more patient ;-) From personal experience you seem to need patience whichever Zopa product you are in, lending since the introduction of their new "products" is painfully slow, new money put in a week ago hasn't been touched. Worse still they have yet to provide any guidance on speed of lending or postion in queue.
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Post by newlender on Apr 22, 2016 5:11:32 GMT
The slow movement in the Z+ queue is making me wonder whether or not there's any point in putting any more cash into this product. I have over £1.5K waiting to be invested (new money) but am getting one or two £20 loans a day. I appreciate that Zopa has to be careful about who they lend to and must do all the checks but it looks as if there are not enough D and E borrowers out there, the rates being asked by Zopa are too high for these borrowers, or (more likely) there is too much money on offer from lenders. Would it really be so hard to publish a queue? Even if we had an update each Friday saying something like 'there is £2.7 million in the Plus queue being lent at an average of £65K per day as of today's date'. These figures must be available quite easily for each market. The repayments money will be building up soon in Z+ and that will make things a whole lot worse.
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wapping35
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Post by wapping35 on Apr 22, 2016 6:56:43 GMT
Same slow lending here with £760 waiting. Of which £300 has been at the front of the queue (waiting to be matched) 8 days now.
So far this week I have had just 3 matches.
Rather than a shortage of D&E borrowers I suspect the issue is the one we had at the start , i.e. a lack of liquidity for Z+ Retail borrowers.
i.e. With £10 micro loans they need 1,000 different retail Z+ lenders to match just one £10k loan.
I know Z have said the institutions currently only take whole loans, but if they changed this to say 50% institutional that would start to address this liquidity issue. i.e. The example above becomes just 500 lenders to match a £10k loan.
Of course Zopa could comment directly as opposed to us guessing as to whether the Z+ lending is a shortage of D&E loans or liquidity. And any actions they might be considering to address the issue.
W35
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Post by propman on Apr 22, 2016 7:21:14 GMT
I don't think it is lack of lenders that is the issue as I have had money in the "New Money" queue and even the "Repayment" queue for several days. If they needed more lenders, this would have moved to "Matching to Borrowers". I think the £1k minimum may have forced some lenders to put more on in a lump than they usually do. In my wife's account, that I manage, I decided to top up to >£1K and transfer to Z+ a week or so ago as some money had been stuck in the Classic queue and I was up to £700. I had intended to leave this for a little while, but rarely invest £1k at a time so thought I was better getting it started while the money was there and hoping to get to matching before the 1st of the month repayment tsunami.
Personally I have only recently started lending again on Zopa from RS as the defaults are building there. Also rates are so low on the 1 year and 3 year markets there with far more funds than loans. Maybe Zopa are losing loans to them on rates? I have also had quite a lot of repayments on Z+ (about 5% repaid in full already) that is also probably providing more lending funds than anticipated (as many will have put in the minimum to try out the new product and probably choose to recycle these - the default - partially because it is unclear what happens if you allow the total to drop below the £1k minimum).
Altfi also stated that Zopa has now slipped to the 4th largest originator so, with their high requirement for their institutuional investors, retail available loans may have slowed, especially if others have been tempted back by Z+ or (however unlikely it might seem) by Access.
- PM
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wapping35
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Post by wapping35 on Apr 22, 2016 12:59:14 GMT
Interesting to see how different people are doing.
In Z+ I have not seen that level of early repayments. Just computed and "only" 2.1% have repaid of my 189 matches.
What I am finding v strange on Z+ and it leads me to the liquidity conclusion (a lack of unique Lenders) is how sporadic lending is.
i.e. I did have 26 matches on Thursday 14th of April, but despite being at the front of the queue (at least £300 in Matching to borrowers) since that date I have 5 matches over 6 working days (including today which is Nil matches so far).
Thus lending last week was quite high for me(in total 75 matches) . Or is the AltFi data showing Z lending was high last week but fell off a cliff this week. (this week 3 matches).
Anyway I will leave it for another few days and then contact Zopa directly to ask what the problem is.
Thks W35
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Post by ogwellian on Apr 22, 2016 13:02:14 GMT
Does Zopa+ diversification work on 1% or £10?
I started with just over £1,000 and got matched with £10 loan parts. I've since added a few more grand (in new money queue since Tuesday), will that get matched in 1% chunks or £10 ones?
If the former, I should be matched quicker as new loans are formed, no?
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