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Post by yorkman on May 27, 2016 15:47:24 GMT
From the Zopa website
" If you plan to recycle your repayments into Zopa Plus it is important to remember that there is a £1,000 investment limit in this product."
Doesn't this rather imply that there is a £1000 maximum (the usual meaning for 'limit') invesment. Wouldn't the wording be clearer, and more meaningful, if it read that there is a MINIMUM £1000 investment...?
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Post by Ton ⓉⓞⓃ on May 28, 2016 8:39:44 GMT
From the Zopa website " If you plan to recycle your repayments into Zopa Plus it is important to remember that there is a £1,000 investment limit in this product." Doesn't this rather imply that there is a £1000 maximum (the usual meaning for 'limit') invesment. Wouldn't the wording be clearer, and more meaningful, if it read that there is a MINIMUM £1000 investment...? I'm less than 1k, I think it's an initial minimum sum. I had a few early full repayments that got recycled into other products.
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Post by yorkman on May 28, 2016 8:54:33 GMT
Yes I know it's an initial minimum - but that's not what it says!
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aju
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Post by aju on May 28, 2016 9:34:31 GMT
Hmmm!
Isn't it annoying when you don't spot that stuff, I agree with you but also know that its actually not a maximum.
well spotted - english is a funny old thing, mind you i'm just back from a trip to the States english over there is even more curious.
Mind you i'd be happier if they concentrate on getting the reports/summaries/tax statements in a better state first ( see other threads)
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Post by uncletone on May 28, 2016 14:45:45 GMT
well spotted - english is a funny old thing, mind you i'm just back from a trip to the States english over there is even more curious. I refute the suggestion that English is spoken in the U.S.A. Massachusetts? I liked Massachusetts. 
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aju
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Post by aju on May 28, 2016 15:58:01 GMT
well spotted - english is a funny old thing, mind you i'm just back from a trip to the States english over there is even more curious. I refute the suggestion that English is spoken in the U.S.A. Massachusetts? I liked Massachusetts. alright it was american although in texas it was mostly spanish, señor! MassOfChewSets (Noel edmunds words, not mine) also reminds me of the BG's !ZZZzzz..., mind you its a while since i've been there.
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Post by dualinvestor on May 28, 2016 16:00:08 GMT
With the new products Zopa are predicting nett returns after bad debt (6.7% for Zopa plus from yesterday, previously 6.5%) but, from memory, the market data as reported in weekly updates they say lenders are achieving a rate of c.6.8%. Does this mean predicted losses are 0.3% or is it another example of poor English? Or another example of poor recall on my part?
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aju
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Post by aju on May 28, 2016 17:51:34 GMT
With the new products Zopa are predicting nett returns after bad debt (6.7% for Zopa plus from yesterday, but previously 6.5%) but, from memory, the market data as reported in weekly updates they say they lenders are achieving a rate of c.6.8%. Does this mean predicted losses are 0.3% or is it another example of poor English? Or another example of poor recall on my part? To be honest its not what the predictions are that is important its the end of year - how does zopa actually know how many people are going to default in Plus anyway. My non safeguards are clearly bringing my return down but by what amount I have no clue. I wonder how zopa will report this stuff at the end of the year anyway I bet they don't split out the returns in the statements all they will have is bad debt and defaults I won't actually know whether its my non safeguards or my new Plus's bad debt and defaults, but to me the return is the most important bit. I can compare that with last year to see if its better as long as I don't invest anymore its only a rough guide anyway. BTW my last year 2015/16 return was 5.32% and after tax that will be 4.25% for the amount of money invested that's the best I can get in so called cash anyway. As i said before if I can get some into zopa ISA's (assuming similar RR) that would be the best I can get. My spread last year was as follows. Safeguarded=95% Non safeguard=5% Note last year there was only zopa classic for re-investment anyway.
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Post by dualinvestor on May 31, 2016 18:40:46 GMT
From the weekly update just received
"Average yield achieved
Over the last 4 weeks we have matched loans to lenders at an average rate of 3.86% in Zopa Access, 4.56% in Zopa Classic and 6.67% in Zopa Plus."
From the products page
"6.7%
Annualised projected return after expected losses on money lent out"
Ignoring the very small difference it would appear that Zopa is saying that there will not be any losses on Zopa plus
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Post by propman on Jun 1, 2016 7:56:11 GMT
From the weekly update just received "Average yield achieved Over the last 4 weeks we have matched loans to lenders at an average rate of 3.86% in Zopa Access, 4.56% in Zopa Classic and 6.67% in Zopa Plus." From the products page "6.7% Annualised projected return after expected losses on money lent out" Ignoring the very small difference it would appear that Zopa is saying that there will not be any losses on Zopa plus 2 Z+ accounts and am aware of the rates achieved by 1 other. We have all achieved rates of 6.3-6.7% after the expected default rate, so Zopa's post is misleading.
What have others managed? Also, It would be good to get a feel for initial bad debt performance. I have had around 200 repayments of which 3 were late and all are currently up to date. Whole this is not unreasonable given initial DD errors based on my experience 18 months plus ago, I have not had any lates from my classic loans made at the same time and the lates were 2 Ds and a B, so suggests that credit quality is reflected in even these early loans . But the sample is not statistically significant. I appreciate that there will be duplications of loans between portfolios and over representation of larger loans, but others experience would be helpful before increasing my Z+ portfolio above the "foot in the water" level.
Thanks
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Greenwood2
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Post by Greenwood2 on Jun 1, 2016 9:56:49 GMT
My lent at rate is 10.8% with projected as 6.7% on +, so estimated loss of 4.1%. I assume the email should have said after losses for the + account.
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Post by blanik on Jun 1, 2016 16:15:14 GMT
Total Zopa Plus Lent at 10.9%, expected return 6.6% over 157 loans ( I've been in from the beginning ).
My latest weekly update says 13.9% this week - but that is across 3 Plus loans so a very small sample.
The weekly update still says 'AFTER FEES' - but no-one pays fees now!
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Post by propman on Jun 2, 2016 11:55:51 GMT
Many thanks Greenwood2 & Blank. Do you mind sharing how many late payments/payments made and any still late?
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Post by blanik on Jun 3, 2016 4:09:40 GMT
Many thanks Greenwood2 & Blank. Do you mind sharing how many late payments/payments made and any still late? from my_all_time_loan_book.csv No Plus loans are currently in arrears. 2 Plus loans have comments relating to the first DD failing and a replacement payment being received. 5 Plus loans have been repaid early in full. ( simple arithmetic average of the rates for these loans = 11.3% )
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wapping35
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Post by wapping35 on Jun 4, 2016 9:25:59 GMT
For me in Z +:
663 loans: Rates: 11.3% , 6.8% (est post defaults)..... I am seeing a lot higher rates this past week. (During the bank holiday weekend however rates were nearer 6.4%).
Lates are just 2 (a D & an E)... Both are first payments.
On the Z wording I would not call it misleading more like just plain "Poor" wording. i.e. i don't think it is deliberate and this would not be the first time Z have put up a product description which is not very accurate.
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