what's coming zopa new isa features

Yes, I read that email and the blog with some interest as I decided to sell loans in order to fully fund my ISA and paid the fees (except for Access). My ISA funding is now up to the limit and I already have a >£230 profit.  I'd love to hear how Zopa intend to move money across from Investing to ISA without going to cash first; they have not always handled new features well and tend to rush into things a bit.  Moving repayments across should be an easy programming task though, as these are already cash when moved into Holding.  What worries me a bit is the funding of the ISA through transfers in.  Although cash ISAs offer poor returns it would be a mistake to let people transfer without some checks and balances (the £20k limit wouldn't apply if the new cash came from an established ISA, of course). Some cash still is king, despite what the pundits might say.  I also reckon that, with the prospect of an ISA from RS, Zopa are keen to get as many £20k allowances as possible asap.

Edit: Just looked at my Investing Statement for the tax year so far. Income £653.  Defaults £408.  A lot of this is due to past over-exposure to the old Z+ (my choice, my fault) but I do worry that a lot of new investors into the ISA will choose the new Z+ as the rates are more attractive.  None of my Z+ loans in the ISA are in trouble (yet!) so I am beginning to think that Zopa have learnt their lesson regarding D and E borrowers and this product will be less volatile.  I have 15% of my ISA in Z+ and it would be a big mistake to transfer in huge amounts until we have at least 18 months' data.  Even then, probably not a good idea.

newlender

One thing to be aware of is d&e is not the only default issue. Since Zopa details the date of all defaults in all-time csv it's easy to see all the defaulted contracts in sg protected classic. My worry with Isa core is that the default rate may be higher and therefore more damaging than it may seem at present.

Hopefully my concern will not be founded but from what I understand from Zopa plus is that generally nothing has changed with lending checks on borrowers so having sg cover will still be a valuable option. Even without this ability there is still some cover on Isa core that with this change will clearly reduce. My current ISA core has 25% sg cover.

Does anyone have a link to Zopa Isa?

Ok so i'm intrigued as to how you get the spacing in the table, i've tried numerous ways to get that layout capability resorting to using the courier New font at best.

Not sure the rates figures for zopa are accurate but I'm guessing they were on the opening day, of zopa ISA that is.

So are you using the Table option in BB system or are you creating some sort of table yourself. I tried the internal table but I found it a bit cumbersome so now I just create in my text browser that has fixed width font and then copy into The thread and set the font to Courier new and adjust accordingly.

eg BB table

My table
Row 15 column 10  Row 10 column 15
Row 10 column 15  Row 15 column 10

I'm guessing you are using the BB table option and filling the relevant columns manually.

Thanks for fixing the rates - and the link works now.

Yeah not sure why zopa framed it that way and then seemingly changed it later down the page. I do think though that the ultimate aim is that. Rather than sell them and someone else pick them up it means they stay with the original owner.
I think its the way that everyone felt at the start - it should be possible to do this - just move the loan into an ISA but sadly rules on ISA do not allow this. Interestingly though if I have money in a bank I can just transfer it into an ISA at the blink of an eye so I guess zopa is aiming for something on this line or as near to it as can be achieved.
Yeah I get that one and if I had sold my old investments to actually achieve this then I too would be miffed, although to be fair none of us actually realised the SG would be available in this way at the time. Zopa's downward rates do not suit everyone as can be born out by these threads and my guess is there will still be quite a bit of sell out/off going to happen. Being retired I'm not looking for anything more risky than Zopa and the SG was a big winner defaults wise. I am still lending in it until it dies for new lending at the end of the month. 

One thing though, and thanks for pointing it out, I didn't realise that I will be better off moving my SG money over to my ISA so I will look at that when it arrives to top up my ISA to limit with the relevant amount. I'll move my classic returns out and over to Mrs Aju's ISA and hope that there are still enough (25%+) on SG pickups to make it comfortable whilst keeping it to £10 chunks.
 

ISA rules require the ISA subscription must be in cash (albeit there a couple of special circumstances exceptions for shares).  I expect that as usual this is because HMRC imagined some tax avoidance would take place if they allow investment in specie.  On the 'new' loans point I see no reason why it has to be a different borrower in the ISA than that being sold from the non ISA investment, just 'new' to the ISA, in as much as purchased within the ISA wrapper from cash subscribed.  After all it is well known and accepted that one can 'bed and ISA' shares (sell shares in X plc owned outside an ISA, contribute the sales proceeds to an ISA, repurchase shares in X plc within the ISA)  - have done that myself many times.

So it seems to me Zopa could, for example buy loan part 1 from me for cash, automatically transfer the proceeds into my ISA and then sell my ISA loan part 1 in return for the contributed cash.  Repeat until either no ISA loans left or ISA subscription limit reached.

If this is too 'pre ordained' to pass muster with HMRC then they will need to pool loan parts purchased from other investors and sell back loan parts to try to replicated as well as possible the original portfolio,   trickier but doable obviously.