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Post by wyndstryke on Sept 1, 2016 13:10:53 GMT
This is consistent with the drop in lending I've seen over the last 2 weeks or so - fallen behind the headline loan rates therefore the queues are building up.
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jo
Member of DD Central
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Post by jo on Sept 1, 2016 13:32:52 GMT
Getting tough to maintain income out there.....banks & other financial institutions basically banjoed their savings trates in August.
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Post by Harland Kearney on Sept 1, 2016 16:58:19 GMT
I too received this Email this morning, it didn't really surprise me too much. I only use the Plus account so those who are currently in Access and Classic and are no longer happy with Zopa rate could diversify into AC's QAA and 30DAA for similar rates 3.75 and 4.25 currently respectably. I'm going to keep funds in both platforms for diversification sake. Just my 2 cents for what it is worth, not advice.
My holdings in Zopa are extremely small so I'm not overly concerned but it would be interesting to see others views.
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ali
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Post by ali on Sept 1, 2016 17:46:00 GMT
My holdings in Zopa are extremely small so I'm not overly concerned but it would be interesting to see others views. I've got about 8% of my P2P in Zopa (Plus), looking to increase to 10%. Like you, I'm there for diversification and I expect I'll just suck it up, at least for now. I'm pretty maxed out in MT and SS for now (aiming for 30% in each). I could expand Ablrate some more (currently aiming at 5%) and I haven't moved into FS yet so I do have other options available.
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Post by matrix on Sept 1, 2016 21:29:08 GMT
I think smash it up in ss I hold 40% there best of p2p and mt 20% as back up don't bother with the rest you better to give me your money  |
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jcm9000
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Post by jcm9000 on Sept 1, 2016 22:11:35 GMT
I got that too. Quite bemused as i put 500 in access a couple of weeks ago for no real reason other than test the water, finally all invested as of today...at 3.3%. Never went above that at any point. No worries over .2% but the email had me scratching my head!
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Post by dualinvestor on Sept 2, 2016 7:50:23 GMT
Getting tough to maintain income out there.....banks & other financial institutions basically banjoed their savings trates in August. Its a (un)intended consequence of Government monetary policy. All I can see is more and more reckless chasing of high return with little or no recognition of the risk.
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Post by fuzzyiceberg on Sept 4, 2016 7:24:39 GMT
This is my worry too. I do hope that platforms do not attempt to maintain returns by taking on more and more risk - this is exactly what the banks did pre 2008 (taking on more and more risk) and that only ends one way. In that sense I am rather pleased that Zopa is cutting rates in the light of the current conditions.
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Post by Ton ⓉⓞⓃ on Sept 4, 2016 9:46:22 GMT
One weakness of this forum, perhaps any forum, is that mostly Users post about just p2p or the interesting and exciting; that they're putting a few thou into Zopa Plus but they don't mention that they have a small btl portfolio along with a company pension or something similar.
Another aspect is that to my mind we're still mainly in the first wave of investors in p2p so Lenders are more than likely to be "risk takers" and that only about 10% of forum Users post regularly, early adopters can be trendsetters. No one really knows anything about the 90% but some of those will be guided by the 10%.
As a Mod I've made a declaration about where I invest in p2p so that other forum Users will be able to see where my biases might lie. Perhaps as a good example we should (all?) declare that we're investing an amount less than, say, 10% of our wealth/pension or maybe that we're prepared to lose what we p2pinvest.
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Post by dualinvestor on Sept 4, 2016 10:49:55 GMT
One weakness of this forum, perhaps any forum, is that mostly Users post about just p2p or the interesting and exciting; that they're putting a few thou into Zopa Plus but they don't mention that they have a small btl portfolio along with a company pension or something similar. Another aspect is that to my mind we're still mainly in the first wave of investors in p2p so Lenders are more than likely to be "risk takers" and that only about 10% of forum Users post regularly, early adopters can be trendsetters. No one really knows anything about the 90% but some of those will be guided by the 10%. As a Mod I've made a declaration about where I invest in p2p so that other forum Users will be able to see where my biases might lie. Perhaps as a good example we should (all?) declare that we're investing an amount less than, say, 10% of our wealth/pension or maybe that we're prepared to lose what we p2pinvest. I totally agree with what you say. One of the main problems is platform risk. A few months ago I was interested in the likes of Collateral/Funding Secure and Savingstream; however on close examination of them they turned out to be small, start up type, companies without an impressive infrastructure, added to that they seem to have a cavalier attitude to matters such as, in one case, conflict of interest and risk when dealing in the lending of other people's money. I have decided to stay with the "retail" platforms and suffer their manipulation and poor headline rates because, apart from other more fundemental reasonssuch as I believe 12% is unsustainable and there is a very high risk of loss, both Zopa and RS are substantial companies that have been around for a while and at least pay lip service to proper risk management. They also have blue chip advisors and auditors. My earlier reference to recklessness would include people risking too much and, unless they have substantial other provision, risking their pensions in this type of lending. Whilst it is up to them some of the platforms offer very high risk for what, in my opinion, is not commensurate return. I sympathise with the view that there is little alternative, but to base investment decisions simply on lack of return elsewhere is a very foolhardy strategy.
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Post by wyndstryke on Sept 5, 2016 14:08:12 GMT
... Another aspect is that to my mind we're still mainly in the first wave of investors in p2p so Lenders are more than likely to be "risk takers" and that only about 10% of forum Users post regularly, early adopters can be trendsetters. No one really knows anything about the 90% but some of those will be guided by the 10%. ... I always tend towards going all-out on high risk (with variable results, buy high, sell low, that's the correct way round right?). Zopa haven't let me down yet including the 2008 crash. But I'm avoiding Zopa+. Not the right economic climate considering the brexit uncertainty.
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Post by dualinvestor on Sept 5, 2016 14:24:53 GMT
... Another aspect is that to my mind we're still mainly in the first wave of investors in p2p so Lenders are more than likely to be "risk takers" and that only about 10% of forum Users post regularly, early adopters can be trendsetters. No one really knows anything about the 90% but some of those will be guided by the 10%. ... I always tend towards going all-out on high risk (with variable results, buy high, sell low, that's the correct way round right?). Zopa haven't let me down yet including the 2008 crash. But I'm avoiding Zopa+. Not the right economic climate considering the brexit uncertainty. Ah grasshopper I see you have learned my investment strategy well 
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Post by wyndstryke on Sept 6, 2016 13:34:01 GMT
Ah grasshopper I see you have learned my investment strategy well Many years of practice :-)
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Post by Ton ⓉⓞⓃ on Sept 6, 2016 16:26:50 GMT
Ah grasshopper I see you have learned my investment strategy well Many years of practice :-) With shares it's been said buy low sell high, but I was thinking that if you were a regular of 'weekend fishing' on Zopa of bygone years then it's buy high and sell low interest loans. PS Another motto is buy quality forget the price.
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littonowl
Member of DD Central
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Post by littonowl on Sept 17, 2016 11:03:07 GMT
...and despite the cut in rates, the £2K I placed with Zopa (Access) a week ago still looks a million miles away from being matched...  |
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