aju
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Post by aju on Jun 27, 2017 12:09:09 GMT
Bearing in mind this is new money lending I thought I'd share the lending rates for my Core and Plus investments. Core is much faster to start lending than Plus but when Plus lends it seems to lend at much faster rate. All figures rounded all loans £10.
Core: £1999
Funded: 16/6
start lending: 19/6 (3 days to start)
day__Lent
19/6: 7% (14)
20/6: 10%(20)
21/6: 10%(21)
22/6: 14%(29)
23/6: 16%(32)
24/6: 2% (4)
25/6: 3% (6)
26/6: 19% (39)
27/6: 16% (32)
28/6: 2%
Total lent 100% (actually still have £9 to lend)
So it took approx 10 days for ISACore to lend at average rate of 10% per day
Plus lend also £1999 but took 10 days to start 3 days to lend 90% at average rate of 30% a day.
day__Lent
26/6: 42% (82)
27/6: 37% (75)
28/6: 11% (23)
these figures were as of 11:00 am today so 27/6 may lend even more. I'll update until all current funds are lent out.
edit 28/6 14:35: Updated 27/6 and added in 28/6 values.
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Post by blanik on Jun 27, 2017 19:56:22 GMT
Mrs B put a lump sum into Core on 17th June, this was lent out between the 19th and the 27th so similar to aju except she is now 100% lent!. Gross rate 6.3%, projected return 4.1%. One lender borrower has already repaid in full - earning her 2p interest.
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Greenwood2
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Post by Greenwood2 on Jun 28, 2017 6:01:59 GMT
I seem to have lost 1p on my ISA earnings -£0.01. How does that happen?
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aju
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Post by aju on Jun 28, 2017 8:10:19 GMT
I seem to have lost 1p on my ISA earnings -£0.01. How does that happen? my ISA summary says I have earnings of -£0.41, i'm guessing this is fees perhaps, which would normally be lost when interest starts building. it does not show up in any of my statements so far as I can tell. I'm an early adopter (0.5%) but I've not been in the ISA long enough to see an early adopter return in the statements etc. More curiously is that Mrs aju has earnings of -£0.06 on identical lent sum with almost similar lend rates but is not an early adopter very odd indeed. I've taken prints of both and may ask zopa about this later.
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Greenwood2
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Post by Greenwood2 on Jun 28, 2017 12:06:51 GMT
There aren't lender fees anymore (fees are borrower fees deducted before the interest reaches lender accounts), hence the early adopter bonus, to compensate for reduction in fees.
I assumed it might be rounding errors, but not sure on what since I haven't earned anything, maybe on transfers from my non-ISA account, but yours seem much too high for that.
My earnings breakdown shows all zeros, what do yours show?
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Post by dualinvestor on Jun 28, 2017 12:31:42 GMT
I have long since stopped noticing the small errors and put it down to "rounding", the are however growing, if only slightly, i.e. when, on the rare occassions it is up to date, I compare my total invested on my statement compared to in the summary it is always a matter of pennies out it started at 18pence but has grown over three months or so to c.60pence (currently £26 but that is due too the statement not being updated for a couple of days).
The idiscrepecy represents less thyan 0.01% of my "investment" and should not really happen but is hardly material, what does worry me more is that the gross monthly interest never seems to add up to anywhere near what I should be getting as an annualised return per my summary, even when taking into account the smaller monthly rate to account for the compounding.
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aju
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Post by aju on Jun 28, 2017 13:00:49 GMT
I'm confused as well now as I had forgot there are no lender fees now.
One of the other things I have noticed in the CSV - especially now the ISA's are not protected - is that there can be quite a spread between the "lender rate" and the "borrower rate". Is that perhaps the fees?, what I did notice is that this mounts up quite a bit over my whole book.
Does anyone know how that bit works. I'm guessing the only loser on a default is me, assuming it fails completely, zopa will not be losing out. Perhaps also this why zopa seems to be expanding and has some quite novel technologies to grade a borrower.
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aju
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Post by aju on Jun 28, 2017 13:44:55 GMT
I've updated my lend rates in ISA see message #1 in this thread
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wapping35
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Post by wapping35 on Jun 28, 2017 14:43:32 GMT
The negative earning issue seems to be occurring due to the way Zopa is now computing the Rapid Return interest for loans we Lenders acquire that have been late payers. i..e the recent change.
I have minus £2.45 in my Z+ ISA with no defaults for example.
I have raised with Zopa and they replied as below:
====
Good afternoon XXX,
Thank you for bringing this to our attention.
We are indeed already aware of this issue. This being said, our Technical team are in the matter of looking into this problem which this should be fixed as soon as possible.
If this is an ongoing problem, in the next week or so, please feel free to contact us to investigate this further. However, we imagine this should be fixed soon rather than later.
If you have any questions, please do not hesitate to let me know.
Kind regards
Issa XXXX
Client Services
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aju
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Post by aju on Jun 28, 2017 15:33:21 GMT
Surely in a week or so it may not be so visible that this is happening anyway as returns may mask the error to all but but the most vigilant anyway. Good to see that Zopa is on it, although the ex software developer in me wants to question the test schedule since I would have expected this to be tested to death before making it to the outside world - oops forgot about agile development ;-) Thanks wapping35 for reporting this to zopa and passing on the info to the forum. |
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wapping35
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Post by wapping35 on Jun 28, 2017 15:42:27 GMT
Surely in a week or so it may not be so visible that this is happening anyway as returns may mask the error to all but but the most vigilant anyway. Good to see that Zopa is on it though. Thanks wapping for reporting this to zopa and passing on the info to the forum. I should add it also impacts Z+ non-ISA, albeit as you say the impact is not very transparent unless you are very vigilant. You may notice your Zopa Total going down when ever a Rapid Return loan is matched. It can only be pennies, per RR matched, but with my ISA it is £-2.45 on about £2k invested (108 loans). All matched in the last 5/6 days.
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aju
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Post by aju on Jun 28, 2017 16:05:04 GMT
Surely in a week or so it may not be so visible that this is happening anyway as returns may mask the error to all but but the most vigilant anyway. Good to see that Zopa is on it though. Thanks wapping for reporting this to zopa and passing on the info to the forum. I should add it also impacts Z+ non-ISA, albeit as you say the impact is not very transparent unless you are very vigilant. You may notice your Zopa Total going down when ever a Rapid Return loan is matched. It can only be pennies, per RR matched, but with my ISA it is £-2.45 on about £2k invested (108 loans). All matched in the last 5/6 days. Is it a direct correlation as I have a excel sheet that joins both all_time_loanbook and statements sheets together and I only see 16.189153p of RR across both plus and core. Yesterday it was definitely -41p , in fact today is -40p adrift so I've gained a penny (woop woop). At first I thought it was the interest payment of 0.00913926 but that was before it went to 40p!!!. oops! Malfunction! Need input! (Robot #5 c.1986) ........ Zopa has exploded
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wapping35
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Post by wapping35 on Jun 28, 2017 16:56:49 GMT
I think it is just the Rapid Return for late payer loans matched. So its not all RR's.
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wapping35
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Post by wapping35 on Jul 5, 2017 13:07:10 GMT
A further update received today, on the missing capital issue.
I do agree it seems the issue has got no worse recently and it is good to hear that compensation for the deduction is probable (my reading of the reply).
===================
Good morning XXX,
Thank you for your email.
After speaking with our Technical department, I can confirm that the discrepancy with the ISA Plus investment was caused by an introduction of a more sophisticated loan pricing. They have now stopped any future problems from occurring and are currently in the process of drawing up a list of investors that have been affected to rectify the error.
Unfortunately, I was unable to forward this email to our Technical department, however, I will be more than happy to ask any questions on your behalf.
If you have any further queries, please do not hesitate to let me know.
Kind regards
XXXX XXXXX
Client Services
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oldgrumpy
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Post by oldgrumpy on Jul 5, 2017 13:15:50 GMT
"Unfortunately, I was unable to forward this email to our Technical department..."
Rubbish! 
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