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Post by bhafcseagull on Apr 18, 2017 20:05:06 GMT
Now that FS have launched their IFISA I was hoping that MT might give us an update on when they might have theirs ready and will it involve a 3rd party which I thought wasn't allowed yet? I prefer the MT way and would be willing to wait but not for months. Any info would be helpful?
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elliotn
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Post by elliotn on Apr 19, 2017 8:10:17 GMT
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Liz
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Post by Liz on Apr 20, 2017 15:01:47 GMT
Wow! No loans and no IFISA. They really aren't ambitious.
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Post by bhafcseagull on Apr 20, 2017 15:39:44 GMT
I've gone with FS for a year 😥
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stevio
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IFISA
Apr 20, 2017 18:25:49 GMT
via mobile
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Post by stevio on Apr 20, 2017 18:25:49 GMT
Wow!  No loans and no IFISA.  They really aren't ambitious. To be fair, we all know there struggling to meet demand at the moment It would be nice for existing investors to move funds to tax free, but this would be at the expense of substantial funds competing for new loans Hmmmmmm tough call, but understandable
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theshape
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IFISA
Apr 20, 2017 18:50:28 GMT
Post by theshape on Apr 20, 2017 18:50:28 GMT
If a platform is struggling to meet demand, why can they not just stop accepting new lender account applications? That way you can continue to offer a decent product to current investors. I do realise it's a bit of a cheek for me, as a new investor, to demand the platforms pull up the drawbridge behind me now I'm in but platforms can control demand as/more easily as supply.
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mason
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Post by mason on Apr 20, 2017 19:07:47 GMT
Personally, I'd rather earn a taxable 10-12% on all of my money than earn 0% tax free on a fair chunk of it within an IF ISA because I can't reinvest in anything when loans repay (this could be an especially significant problem if, like FS, the MT ISA will not be flexible). As for closing to new lenders, that would be a pretty worrying sign - an indication that the business model is not scalable. I'd think twice about opening an ISA anywhere that is already struggling to satisfy investor demand. I expect the launch of an ISA to bring a lot of additional money to the platform from existing investors. If they do overcome the loan supply issues, then it will be much more difficult for them to fill the increased loan volumes if new investors have gone elsewhere in the mean time.
I think it is right that MT is focusing on loan supply and not being distracted by the bureaucracy of an ISA at a time when loan supply is a significant problem and a large number of loans are going to redeem in the coming months. I'm certainly looking forward to seeing the results of that work, hopefully sooner rather than later.
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johni
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IFISA
Apr 20, 2017 20:05:52 GMT
Post by johni on Apr 20, 2017 20:05:52 GMT
Personally, I'd rather earn a taxable 10-12% on all of my money than earn 0% tax free on a fair chunk of it within an IF ISA because I can't reinvest in anything when loans repay (this could be an especially significant problem if, like FS, the MT ISA will not be flexible). As for closing to new lenders, that would be a pretty worrying sign - an indication that the business model is not scalable. I'd think twice about opening an ISA anywhere that is already struggling to satisfy investor demand. I expect the launch of an ISA to bring a lot of additional money to the platform from existing investors. If they do overcome the loan supply issues, then it will be much more difficult for them to fill the increased loan volumes if new investors have gone elsewhere in the mean time. I think it is right that MT is focusing on loan supply and not being distracted by the bureaucracy of an ISA at a time when loan supply is a significant problem and a large number of loans are going to redeem in the coming months. I'm certainly looking forward to seeing the results of that work, hopefully sooner rather than later. If a loan repays then the cash will go into the IF ISA. The cash will then be available to purchase further loans on Moneything either new or on secondary market.
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elliotn
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Post by elliotn on Apr 21, 2017 2:37:36 GMT
Personally, I'd rather earn a taxable 10-12% on all of my money than earn 0% tax free on a fair chunk of it within an IF ISA because I can't reinvest in anything when loans repay (this could be an especially significant problem if, like FS, the MT ISA will not be flexible). As for closing to new lenders, that would be a pretty worrying sign - an indication that the business model is not scalable. I'd think twice about opening an ISA anywhere that is already struggling to satisfy investor demand. I expect the launch of an ISA to bring a lot of additional money to the platform from existing investors. If they do overcome the loan supply issues, then it will be much more difficult for them to fill the increased loan volumes if new investors have gone elsewhere in the mean time. I think it is right that MT is focusing on loan supply and not being distracted by the bureaucracy of an ISA at a time when loan supply is a significant problem and a large number of loans are going to redeem in the coming months. I'm certainly looking forward to seeing the results of that work, hopefully sooner rather than later. If a loan repays then the cash will go into the IF ISA. The cash will then be available to purchase further loans on Moneything either new or on secondary market. I think mason was highlighting the potential for cash drag at current levels of SM and new loan availability - redeemed cash would earn 0% tax free between deployment - a situation that you would imagine would only be exacerbated by Ifisa money before deal flow is consistently enhanced (with knock on effects for the barren SM too).
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Post by bhafcseagull on Apr 28, 2017 23:32:57 GMT
Perhaps we need a multi site ifisa on a platform which I know a few companies are planning but I think it's currently against the rules? Anyone like to correct me.
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IFISA
Apr 29, 2017 7:34:11 GMT
Post by wiseclerk on Apr 29, 2017 7:34:11 GMT
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Post by bhafcseagull on Apr 29, 2017 7:35:15 GMT
Yes sorry self selected and run
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Apr 29, 2017 7:55:23 GMT
Deal flow is easy to generate. Just allow any old carp through the vetting process onto the platform. Not MT managements style. They have far more integrity than that unlike other platforms are displaying.
Better for MT to wait and observe the screwups being made by platforms that don't know what they are doing, program in protections, for inveators, borrowers and the platform before entering the arena. Better late with the right product than first to market with an ill prepared offering.
The importance of making the MT IFISA FULLY FLEXIBLE cannot be over emphasised. However, the rules on ifisa products openned in the same tax year for the same tax year funding may mean that money needs to be moved to another flavour of isa whilst waiting a new opportunity to arise on MT. I wonder, if a lender transfers prior years into an ifisa, it would give them multiple pre bids on loans as though they are different accounts as their wrappers are different year wrappers?
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mason
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IFISA
Apr 29, 2017 8:06:51 GMT
Post by mason on Apr 29, 2017 8:06:51 GMT
I wonder, if a lender transfers prior years into an ifisa, it would give them multiple pre bids on loans as though they are different accounts as their wrappers are different year wrappers? There is no distinction made between money subscribed in individual prior tax years. The only distinction made is between current year and previous years, and even then, it is only for the purpose of the manager controlling and reporting the amount of allowance used in the current year. It would therefore be a very odd decision for MT to separate funds with IF ISA status in any way. But it is certainly possible that an ISA would give an investor a second bite of the cherry in bidding. There is some precedent for that elsewhere...
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littonowl
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IFISA
May 16, 2017 12:54:12 GMT
Post by littonowl on May 16, 2017 12:54:12 GMT
Hi Ed, MoneyThingThink you mentioned in the £3.3m thread you were having a board meeting last week where the possibility of bringing forward an IFISA would be discussed? Do you have any Thing positive to feedback (crosses fingers!)....?
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