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Post by Ace on Dec 2, 2021 11:38:10 GMT
I couldn't find anything in the T&Cs to say we couldn't use always-on and self-select. The mechanics of the platform used to prevent it, and the FAQs sort of imply it, but without explicitly saying so. Personally, I like cake and that would heavily influence my decision; though I don't have to wrestle with your quandary as I don't use the always-on feature.
In the original email about Autolend 2.0:
Always On has the following criteria
only lends in the lowest risk Tranche A (0-50% LTV) looks to invest in every available loan to create a diversified loan portfolio invests up to the maximum of your investment criteria maximum investment term is 5 years can be activated in Classic, ISA and Pension accounts can be run at any time target return rate of 5% p.a. after fees and bad debt but before tax but if you turn it off, it cannot be reactivated for 30 days during this period you can still use Self Select
Yes, that's the bit that isn't clear. On the one hand, it appears to be a list of criteria that applies to Always-on. In which case it's implying that self-select can be used at the same time as Always-on. On the other hand, it appears to be written such that it applies to the previous item in the list. In which case self-select can only be used during the 30 days when you are prevented from turning Always-on back on. On the third hand (if there is such a thing) the use of the word "still" implies that you should have been able to use self-select before Always-on was turned off. Experience tells us that it's the second hand interpretation that was intended since the platform did stop us using Always-on and self-select at the same time. Or, the implementers and the instruction writers misunderstood each other. Personally, I think it's a completely unnecessary restriction to stop Always-on lenders from lending in higher tranches via self-select. I could understand a desire to stop them getting two bites at the tranche A cherry, though 3 bites are already possible by using the 3 types of accounts (classic, ISA and SIPP), so even that is inconsistent.
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alibaba
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Post by alibaba on Dec 2, 2021 12:51:17 GMT
Phew!! thanks for the explanation, here is me thinking it was my brain fog
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bababill
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Post by bababill on Dec 3, 2021 0:40:16 GMT
today I can only withdraw a number of pounds either £67.00 or £68.00 leaving the surplus pence in the cash account. I spoke with Proplend about this issue around a year ago. It seemed to me that circa £67.00 was still a trivial amount and causes them unnecessary expense and labour. Other then the minimum £100.00 withdrawal limit I also suggested to increase the minimum bid size which might alleviate smaller withdrawals. But they didn't like this idea either.
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bababill
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Post by bababill on Dec 7, 2021 3:34:16 GMT
When I checked this morning, there was no sign of any such option for my bank account. Everything looks the same, including the display of 'Accrued Interest'. That's odd. I'm sorry to say that the "Accrued Interest" figure has gone from my account. I see it as a retrograde step. I don't see why they said it was confusing. It would have been better to have added an explanatory drop-down than to have removed it. My page has now been updated and the accrued interest figure is showing albeit in a different place. "Portfolio Valuation Your Current Total Proplend Portfolio Valuation is £xxxx.xx (Figure consists of Loan Portfolio, Available Funds, Waiting to Close Loans Value and and Accrued Interest as of today of £xxx.xx)"
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Post by Ace on Dec 7, 2021 9:28:10 GMT
That's odd. I'm sorry to say that the "Accrued Interest" figure has gone from my account. I see it as a retrograde step. I don't see why they said it was confusing. It would have been better to have added an explanatory drop-down than to have removed it. My page has now been updated and the accrued interest figure is showing albeit in a different place. "Portfolio Valuation Your Current Total Proplend Portfolio Valuation is £xxxx.xx (Figure consists of Loan Portfolio, Available Funds, Waiting to Close Loans Value and and Accrued Interest as of today of £xxx.xx)" IMO, including accrued interest makes it more confusing than it used to be. Especially as the total figure doesn't equal the sum of the parts, 3p out in my case.
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eeyore
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Post by eeyore on Apr 23, 2022 16:48:33 GMT
Is it just my browser that can't display something?
I'm compiling the numbers for my 2021/22 tax return and have almost reached the end by logging the interest received from P2P. In previous years, I've downloaded the list of transactions and summed the interest credited for all the loans for the tax year to be able to cross-check Proplend's Tax Statement. But this year, Proplend's system will only display and download-to-CSV a single month - so it appears that I'm forced to select 13 individual months one by one and cut-and-paste the transactions from the 13 separate CSV files into a single file for the whole tax year. Am I missing something that allows me to select the start & finish date for the Statement display? Or is this yet another step in Proplend's dumbing-down of their platform?
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sapphire
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Post by sapphire on Apr 23, 2022 20:44:23 GMT
Is it just my browser that can't display something? I'm compiling the numbers for my 2021/22 tax return and have almost reached the end by logging the interest received from P2P. In previous years, I've downloaded the list of transactions and summed the interest credited for all the loans for the tax year to be able to cross-check Proplend's Tax Statement. But this year, Proplend's system will only display and download-to-CSV a single month - so it appears that I'm forced to select 13 individual months one by one and cut-and-paste the transactions from the 13 separate CSV files into a single file for the whole tax year. Am I missing something that allows me to select the start & finish date for the Statement display? Or is this yet another step in Proplend's dumbing-down of their platform? PL has indeed changed this functionality recently! For the worse, in my opinion, for the reason you note. My guess is that this has been done to reduce their cloud CPU & bandwidth costs. One small positive side effect of this change is that now the response time is a bit faster when the initial list is displayed (as a smaller number of transactions are selected by default). But, as you note, the hassle of having to download multiple months separately is significantly negatively greater. So personally I would prefer having the previous option of being able to select a range of dates rather than being restricted to a month at a time. Technically, PL if they wish can still provide the option to specify a date range as an *added* option to the current option. Whether they will do so is of course a different question!
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hubert
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Post by hubert on Apr 26, 2022 8:51:21 GMT
Tax statements 2021/22 were there yesterday, but can't find them today.
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Post by uksoul on Apr 26, 2022 9:33:35 GMT
Tax statements 2021/22 were there yesterday, but can't find them today. Same here, i assume it is to do with some updating on the site.
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eeyore
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Post by eeyore on Apr 26, 2022 11:38:31 GMT
Tax statements 2021/22 were there yesterday, but can't find them today. Same here, i assume it is to do with some updating on the site. The "updates" were duly announced by email this morning and appear to be functioning. Something to welcome: - the ability to sort the loan portfolio by any of the headers - at last, I can put the list into alphabetical order!
- the bank account details for deposits and withdrawals can be edited.
Not so welcome: - Obviously, the limitation on display & download of account transactions to a single month only, which I flagged up earlier*
- Proplend's IT developer still shows shocking lack of attention to detail and Proplend's acceptance of all the faults is worrying. Look at the first line of the text after the numbers in the new Tax Statement - how could anyone allow such a glaring typo get through whatever QA exists? And it's still apparent in missing currency symbols on some, but not all, transactions in the account statement.
* Curiously, the first sentence of the Lender Statement says: "Please choose the year or date range for the current year you would like to view a list of transactions for." Either someone's not implemented the specification fully or it's still the text of the old version!
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dh1
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Post by dh1 on Apr 26, 2022 13:46:01 GMT
The very late tax statements for 2021/22 now appear to be available. Everyone else manages to produce these on 6th April but not Proplend.
Sadly, Proplend seem to have decided to limit the availability of "line by line" transaction information. As eeyore mentions, there is reference in the "statements" tab to date range or month; in fact month only is available. So, if you want a full year of transaction detail, you're into 12 separate downloads.
I really do wish that platforms would talk to -and LISTEN to - those affected by changes before just switching stuff on or worse, off, as in this case.
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liso
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Post by liso on Apr 26, 2022 14:30:33 GMT
The very late tax statements for 2021/22 now appear to be available. Everyone else manages to produce these on 6th April but not Proplend.
Sadly, Proplend seem to have decided to limit the availability of "line by line" transaction information. As eeyore mentions, there is reference in the "statements" tab to date range or month; in fact month only is available. So, if you want a full year of transaction detail, you're into 12 separate downloads.
I really do wish that platforms would talk to -and LISTEN to - those affected by changes before just switching stuff on or worse, off, as in this case.
Not so. There are other platforms who have not yet published their 21/22 tax statements
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 26, 2022 15:00:51 GMT
The very late tax statements for 2021/22 now appear to be available. Everyone else manages to produce these on 6th April but not Proplend.
Sadly, Proplend seem to have decided to limit the availability of "line by line" transaction information. As eeyore mentions, there is reference in the "statements" tab to date range or month; in fact month only is available. So, if you want a full year of transaction detail, you're into 12 separate downloads.
I really do wish that platforms would talk to -and LISTEN to - those affected by changes before just switching stuff on or worse, off, as in this case.
Not so. There are other platforms who have not yet published their 21/22 tax statements Indeed, they have at least a month possibly longer to make them available (can't remember the exact HMRC rules) Some platforms don't provide them at all, you have to ask
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dh1
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Post by dh1 on Apr 26, 2022 18:51:16 GMT
Apologies, liso and ilmoro. I should, of course have said "I'm involved with" after "everyone else". Frankly, I'd be pretty annoyed if somebody I was trusting my money to couldn't be bothered to produce a tax statement in very short order.
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eeyore
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Post by eeyore on Apr 27, 2022 8:00:51 GMT
....... ....... - Proplend's IT developer still shows shocking lack of attention to detail and Proplend's acceptance of all the faults is worrying. Look at the first line of the text after the numbers in the new Tax Statement - how could anyone allow such a glaring typo get through whatever QA exists? And it's still apparent in missing currency symbols on some, but not all, transactions in the account statement.
Maybe Proplend do indeed monitor this forum: the errors I pointed out yesterday have now been fixed when I checked this morning!
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