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Post by MoneyThing on May 16, 2017 13:50:21 GMT
Hi Ed, MoneyThing Think 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!)....? Afternoon littonowl, Our main objective remains to improve our loan deal flow. We did however agree to move the ifisa up our list of priorities, but with only a small team lenders shouldn’t get too excited, it is still not imminent. Kind regards, Ed
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littonowl
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Post by littonowl on May 16, 2017 14:09:34 GMT
Hi Ed, MoneyThing Think 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!)....? Afternoon littonowl, Our main objective remains to improve our loan deal flow. We did however agree to move the ifisa up our list of priorities, but with only a small team lenders shouldn’t get too excited, it is still not imminent. Kind regards, Ed Hi Ed MoneyThing That's perfectly understandable, thank you for taking the time to reply. I'll have to keep my ISA powder dry for a little longer then...
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niceguy37
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IFISA
May 31, 2017 15:43:37 GMT
Post by niceguy37 on May 31, 2017 15:43:37 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. I believe "Up" www.investup.co/ offer a multi-site IFISA.
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mikeh
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Post by mikeh on May 31, 2017 16:04:01 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. I believe "Up" www.investup.co/ offer a multi-site IFISA. Not yet AIUI. It claims to be launching this summer.
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robski
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Post by robski on Jun 12, 2017 11:30:51 GMT
Moneything, any thoughs about this again Clearly we seem to have reached the current investors limits as the SM has been over £1m since the last loan launched Also, is there some kind of deadline on this loan (MTAS713)? Surely this isn't looking so good on the platform not being able to fill in 2 weeks, plus at this rate about another 6 months to fill it
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jun 13, 2017 11:32:43 GMT
Ironic that MT's reason for delaying the IFISA was wanting to improve the deal flow. MoneyThing
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archie
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IFISA
Jun 13, 2017 12:05:34 GMT
Post by archie on Jun 13, 2017 12:05:34 GMT
If people were more sensible and only listed loans with low availability there wouldn't be a problem. Switch off the 'Renew' button for any loans that you'd like to redeem. Most will be moving to new terms so there is an opportunity to get out at that point. The majority of any new money I invest here is going to the new loans rather than the sm.
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adrianc
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IFISA
Jun 13, 2017 13:35:25 GMT
Post by adrianc on Jun 13, 2017 13:35:25 GMT
Clearly we seem to have reached the current investors limits as the SM has been over £1m since the last loan launched MTAU712 seems to be the biggest culprit. It's ONLY just finished selling on the primary, after nearly a month, and that's released nearly 250k of SM listings... OK, it's short - end date August - but...?!? (Does stuff in SM sale queues on MT still earn interest?)
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robski
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Post by robski on Jun 13, 2017 13:48:49 GMT
Yes Sm sales do earn interest until sold
I think we are seeing a change here on MT
People treated loans as liquid, buy too much, then sell on when something else comes along. Demand was very high hence the (IMO incorrect) ranting about bots on the SM.
Its clearly the case now that there is too little cash on deposit by investors. Launching the IFISA to a limited audience (e.g. those currently invested) would probably help. If it wasn't enough they could have a queue to open one and be able to invest, it doesn't have to be a flood by opening the doors wide with no control
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littonowl
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IFISA
Jun 14, 2017 11:04:40 GMT
Post by littonowl on Jun 14, 2017 11:04:40 GMT
Unfortunately if today's p2pfinancenews article is anything to go by, it seems MT "are not concerned about seeing a decrease in demand for not rushing to launch an ISA.” !? Can't help feeling borrowers will be a little more concerned though, having to wait weeks to obtain their funds... Though they've moved an IFISA launch up their priority list, its still only expecting to launch an IFISA "by the end of the year..." www.p2pfinancenews.co.uk/2017/06/13/moneything-record-month-ifisa/
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caesium
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Post by caesium on Jun 14, 2017 20:36:02 GMT
Can't help feeling borrowers will be a little more concerned though, having to wait weeks to obtain their funds... MT never claimed to be an instant access savings account... Anyone relying on it being such has just been lucky so till now.
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Post by MoneyThing on Jun 15, 2017 12:49:53 GMT
Afternoon,
My, what a difference a month makes... only just over 4 weeks ago and the availability was £0.
Having ramped up our origination side recently (to which there are quite a few already in legals), I appreciate that we do have to revisit the other side of the coin to help us get these loans funded.
As such, we have just agreed this morning to get a wiggle on with launching an MT ISA. It will take a little time to do, but I will keep everyone updated on progress.
Kind regards,
Ed
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littonowl
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Post by littonowl on Jun 15, 2017 13:13:17 GMT
Afternoon, My, what a difference a month makes... only just over 4 weeks ago and the availability was £0. Having ramped up our origination side recently (to which there are quite a few already in legals), I appreciate that we do have to revisit the other side of the coin to help us get these loans funded. As such, we have just agreed this morning to get a wiggle on with launching an MT ISA. It will take a little time to do, but I will keep everyone updated on progress. Kind regards, Ed Fantastic news, Ed ! And great to see a leader willing to change and adapt to circumstances. Will keep my powder dry, in terms of this year's ISA allocations in that case...
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IFISA
Jun 15, 2017 16:29:35 GMT
Post by GSV3MIaC on Jun 15, 2017 16:29:35 GMT
Ditto ditto and likewise, and there is also quite a bit of cash in S&S which might transfer in, iffin the new ISA takes transfers and iffin it is flexible so funds can flow both ways should the deal flow look like drying up .. oh, and assuming the costs are not unreasonable and the 12% doesn't turn into "9%, but hey, it's tax free ya know!". 8>.
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Post by MoneyThing on Jun 15, 2017 16:34:08 GMT
Ditto ditto and likewise, and there is also quite a bit of cash in S&S which might transfer in, iffin the new ISA takes transfers and iffin it is flexible so funds can flow both ways should the deal flow look like drying up .. oh, and assuming the costs are not unreasonable and the 12% doesn't turn into "9%, but hey, it's tax free ya know!". 8>. You don't want much then!
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