Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
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Post by Neil_P2PBlog on Dec 2, 2016 11:20:12 GMT
Seems quite a bold choice rather than reducing returns or just having a lending queue. Important part from email earlier today:
Throughout December, we will monitor the levels of new money. When necessary, we'll stop all inbound transfers while we disburse the new funds already in the queue.
Currently, the time to lend new money is projected to be slow, so we are not accepting new money transfers.
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star dust
Member of DD Central
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Post by star dust on Dec 2, 2016 11:33:57 GMT
I note they also said
"What will happen after December? We want to be able to lend your money in a reasonable time. If upcoming months are projected to have longer lending speeds, we’ll activate the platform limit"
Not that I lend with them anymore, but it could well be a sign of things to come when P2P ISA's finally arrive - spreading to other platforms and resulting in slower lending/ increased feeding frenzies/ and or lower rates?
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Post by Deleted on Dec 2, 2016 11:53:29 GMT
I was just about to recommend my partner today for the refer a friend bonus. Missed the boat!
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Post by jackpease on Dec 2, 2016 12:41:26 GMT
Nobody can accuse Zopa of being a Ponzi scheme then! (see current thread)
J
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jcm9000
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Post by jcm9000 on Dec 2, 2016 12:47:09 GMT
Could this be something they think may help them out with the fca in being seen as 'responsible'?
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Post by BrianC on Dec 2, 2016 14:04:52 GMT
I've been building up my plus lending almost daily for the past 2 months. I was depositing £200 a day most days but that wasn't getting lent so I reduced it to £100 daily but just recently that was getting slower and slower too and just building up in the queue. The returns falling elsewhere like at RS I believe have led to more and more money coming to Zopa as a trusted longstanding platform with reasonable returns. They've just not been able to cope with the extra money. It could change very quickly if rates pick up again elsewhere but it just seems Zopa temporarily got too popular with lenders.
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hendragon
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Post by hendragon on Dec 2, 2016 14:34:56 GMT
It could also mean that Zopa have not become popular enough with borrowers
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registerme
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Post by registerme on Dec 2, 2016 15:44:43 GMT
Or that they want to push funds in the direction of their upcoming bank.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
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Post by Neil_P2PBlog on Dec 2, 2016 15:47:48 GMT
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registerme
Member of DD Central
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Post by registerme on Dec 2, 2016 16:45:00 GMT
Ahh yeah, that's a valid point  . |
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Post by kevin1841 on Dec 2, 2016 17:53:53 GMT
Hello People - First time poster here
On their site it states 'You can check your Weekly Update email and live tracker in My Zopa for the latest information. We recommend you log in to My Zopa and check the tracker before making a transfer.'
My last 'weekly update' email was on the 23rd September. I complained about this last week and was told that everybody was in the same boat, and that they were working on the problem. (I think I might have had the wool pulled over my eyes, as nobody appears to have mentioned that on here)
Also, where is the 'live tracker' in My Zopa? I seem to have followed every link possible but no luck. It's probably staring me in the face.
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james
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Post by james on Dec 3, 2016 1:02:43 GMT
It's a nice treating customers fairly move provided there is a way for customers to know in advance if a block is in place. With no way to know the strategy might be to try a Pound a day and when a Pond makes it, try more. If you don't mind having your money waiting longer to be lent, of course.
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wapping35
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Post by wapping35 on Dec 3, 2016 10:03:51 GMT
Hello People - First time poster here On their site it states 'You can check your Weekly Update email and live tracker in My Zopa for the latest information. We recommend you log in to My Zopa and check the tracker before making a transfer.' My last 'weekly update' email was on the 23rd September. I complained about this last week and was told that everybody was in the same boat, and that they were working on the problem. (I think I might have had the wool pulled over my eyes, as nobody appears to have mentioned that on here) Also, where is the 'live tracker' in My Zopa? I seem to have followed every link possible but no luck. It's probably staring me in the face. Its in the middle of the "MY Lending" page:  I got my weekly email/update fine (yesterday). I would just call them.
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ashe
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Post by ashe on Dec 4, 2016 13:35:37 GMT
Seems quite a bold choice rather than reducing returns or just having a lending queue. There's an inherent problem if they reduce returns - if and when they decide to increase them again, it rather diminishes the point of 'Access' if people then have to pay a fee to get out due to current rates being higher.
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jeff
New Member
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Post by jeff on Dec 4, 2016 20:16:00 GMT
They are being sensible as they could increase their lending by taking on more risky loans.
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