Zopa P2P - Queue Question.

RolandFlagg

I'm an early adopter to Zopa so still get the bonus.

My money (spilt about half between Plus and Core) is supposed to get reinvested, but the amount queued/waiting to be matched keeps growing by the day. It was £3k waiting just over a week ago, not it's nearly £5K.

Is there anything I can do to get the money matched quicker?

If it wasn't already the case that I had maxed out my S&S ISA I would take the unmatched money out and put it somewhere like a Vanguard fund, and I've already got an amount in the stockmarket that I'm comfortable with, and don't really fancy taking the money out of Zopa just to put in a Marcus account earning 0.5%.

Thanks.

MX5huggy

You could put in a General Investment Account with Vanguard (other platforms are available) you have £2000 divided allowance and £12300 Capital Gains Tax allowance each year to use up. You’ll need to keep records better than with an ISA

How’s the pension looking? 

Nebulous2

We've had some recent discussion on this, but the search facility isn't very good and I can't find it. 

Reading the weekly emails - Zopa are encouraging people to withdraw and highlighting the length of queue themselves. I'm down to about £1k left and am in a position to put in more, but that isn't possible. 

It feels very much to me that they intend to let the P2P wither and concentrate on their bank. 

Aceace

No, there's no way to get your funds deployed quicker on Zopa.

Since you're already into the lower risk end of P2P, it might be worth looking at loanpad. You can get 4% interest on their 60 day notice Premium account. Loanpad are a much younger and smaller platform than Zopa, but, in my opinion, they are a lower risk proposition than Zopa as your funds are secured against low LTV property based loans. They also have the advantage of zero cash drag as your funds start earning as soon as they are committed to an account regardless of whether they are allocated to loans. It's also a much simpler platform compared to Zopa.