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Post by dualinvestor on Dec 14, 2016 17:27:57 GMT
I suspect they might start allowing deposits for "plus" lenders within the next day or two, they are lending c.£420k per day and have c.£730k to lend. Of course repayments ill come in but they might run out of money to lend before the weekend. I doubt they are concerned too much about next week so the moratorium may be reimposed before Christmas. With repayments there is still c.1 weeks money in the classic market so I doubt that will be re-opened before the New Year.
It will be interesting to see how they deal with it, partially accepting deposits in a particular market or keeping all markets closed to new money and refusing new loans, perhaps a mixture of both topping up with insitutional money?
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Post by dualinvestor on Dec 15, 2016 11:55:15 GMT
Interesting, the amount lent per day and amount queued has disappeared from the lending page.
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Post by westonkev on Dec 15, 2016 15:03:47 GMT
Interesting, the amount lent per day and amount queued has disappeared from the lending page. Well, I don't know any banks that tell you how much they've lent each day and how much depositor savings they've got.... And isn't this the now dream of Zopa?
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ashe
Posts: 53 
Likes: 36
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Post by ashe on Dec 15, 2016 18:07:22 GMT
Interesting, the amount lent per day and amount queued has disappeared from the lending page. Well, I don't know any banks that tell you how much they've lent each day and how much depositor savings they've got.... And isn't this the now dream of Zopa? I'm less concerned as to comparisons to banks as to why they conveniently suddenly stopped making this information available just after a point where they appeared to have approx only one days funds left for Plus, about two or three for Access, and maybe a week for Classic.
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dandy
Posts: 427
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Post by dandy on Dec 15, 2016 19:40:21 GMT
Perhaps they have stopped accepting new funds as they have come to the realisation they won't be getting FCA approval?
Come me to think of it perhaps that's why they've decided to become a bank
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Post by davee39 on Dec 15, 2016 20:33:05 GMT
Before Zopa+ became publicly available it was financed by institutional money. I assume this will be used again until the platform re-opens for new funds.
Please can all the conspiracy theorists return to their natural home on the Ratesetter threads.
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ashe
Posts: 53
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Post by ashe on Dec 15, 2016 22:43:08 GMT
There's a difference between 'conspiracy theorist' and someone being bothered about how a company choses to stop disclosing information.
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Post by elpasi on Dec 16, 2016 0:21:10 GMT
It's back open again!
The rectangle at the top of the page now reads
"We are accepting new money transfers: The current platform limit for all new money transfers is £4,900,000.00"
Edit: It now says £4,700,000.00 - looks like this is the new progress bar/countdown until deposits stop once more!
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marie
Posts: 38 
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Post by marie on Dec 16, 2016 9:05:42 GMT
I transferred £1K this morning and most of it has already been lent out. Get in there, quick!
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ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
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Post by ashtondav on Dec 16, 2016 12:01:03 GMT
Now £4,400,000. Tough luck if you can't get to your computer by tonight.
They could have sent an email but as they didn't I suppose we now have to check the site every day - or visit here!
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Post by BrianC on Dec 20, 2016 21:55:07 GMT
Lasted 4 days and closed again. Guess that could be another few weeks closed. Really not sure I agree it's the best way of managing this. Those of us on top of it throw loads in when it's open and the new or casual investor misses out and goes elsewhere. Maybe not good for the long run. Who knows.
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aju
Member of DD Central
Posts: 3,500
Likes: 924
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Post by aju on Dec 21, 2016 11:07:13 GMT
Trouble is I guess that there is so much competition for borrowers and also its that time of year, there may be an after xmas flurry perhaps ;-) when people realise their cashflow is not what they thought perhaps - especially judging by the so called bumper xmas forecasts ...
For me I don't much care a the moment except that all my reinvesting rates seem to be falling - still not as bad as the banks etc.
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aju
Member of DD Central
Posts: 3,500
Likes: 924
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Post by aju on Dec 21, 2016 11:10:28 GMT
Now £4,400,000. Tough luck if you can't get to your computer by tonight. They could have sent an email but as they didn't I suppose we now have to check the site every day - or visit here! I guess its generated a bit more interesting chat on the zopa forum what with this and the old loanbook reports being withdrawn - perhaps zopa is ready to pull the plug when the bank is fully up and running. Interestingly does anyone know if the restrictions are just retail of are the wholesalers getting a lookin still.
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drgonzo
Member of DD Central
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Post by drgonzo on Jan 1, 2017 13:01:25 GMT
Open for business again...
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ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
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Post by ashtondav on Jan 2, 2017 10:15:02 GMT
Thanks for the heads up. I transferred £2k from the laughable RS into zopa+
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