Selling to invest in ISA fee free

One other issue is that you will be selling only 'good' loans, those where the repayments are up to date, and purchasing a portfolio of new loans.

Is the chance of a new loan going bad greater than that of a 12 month old loan that has made every payment on time?

Another question can you have more than one sale in progress if it takes sometime (Zopa quote up to 10 days I think) to complete a sale?

Zopa may reduce their exposure to car loans but I don't think it will be as a result of the press concerns of late about car leasing contracts. The reality is that whilst zopa may have been told that the loan was for a car it may not actually be used that way. The issue is that the loan from zopa has no real connection to the car itself and the owner of the car will not be subject to increased loan fees etc is they do not comply with any specific rules that zopa do not enforce on a car loan.Its just a loan to an individual that has a specific time period to be paid off end of.

The thing that will be a factor and its across all lenders to a degree is that the economic climate and the BOE voicings are at the mercy to a degree of market sentiment over brexit and exchange rates etc. The housing markets look a little iffy at the moment but if you are in a house and are not looking to sell and are able to keep up the payments those things will not affect a house owner either. One thing also that's not easy to judge is when a given borrower might be going to lose their job or worse fall on hard times we are all only a cats whisker away from fin disaster, most of us don't even realise until its too late, but i guess thats life.

One of the things I have taken to in zopa to limit defaults damage is to try and make sure that the exposure is as limited as can be. I'm only lending lump sums in my new ISA's in <£2000 blocks so as to force £10 loans. They take a little longer to lend out but when a default occurs the damage is smaller. I'm still lending large sums in classic thought as they are SG protected until 1st Dec, well I say I its my other half lending at those higher sums as she is not a tax payer - yet!.

Dunno if that makes sense, but hope it helps.

Never had any zopa emails although all are ticked.

Did not know they had started the 1% offer, web site suggests mid July, I was waiting for the announcement!

would you care to share the announcement?

Jhaecked incoming messages on email again and here is the announcement on the end of the weekly update.


1% loan sale fee rebate period temporarily delayed

We had hoped to offer investors a rebate on the 1% loan sale fee over a four-week period starting in July, with the proceeds used to fund an ISA. We’re delaying this temporarily until system capacity for selling loans has been increased to better manage the demand we're seeing in our new products. 

While there is plenty of demand from other investors to buy these loans, the process is running slowly: meaning it's taking longer for you to sell your loans and access your money early.

We're making and releasing changes daily to speed things up. We'll keep you updated, and will let you know in advance of when we'll start the loan sale fee rebate period.


Definitely says Zopa.

Did anyone else get this or have I picked up a phisher?

That was the 2nd email, they sent one already about the 1% fee being delayed, I received it on the 25th.  Look for an email titled 'Important update on current loan sale times'.   Perhaps they only sent it to people who were already selling loans.

I sold a small trial batch from Access, starting on the 22nd June and still ongoing.  The odd thing was that it was 90% done quite quickly, the next few % sold a lot slower, and has been left at only £14 remaining to sell for quite a long time now.  I was quite happy with the 90/99%, don't care if the remaining £14 doesn't sell, but it won't let me change my reinvestment settings until it's 100% done which is a bit of a pain in the arse.

p2pindependentforum.com/post/203016/thread