archie
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Post by archie on Jun 26, 2018 11:57:26 GMT
I managed to "transfer" most on my loans to an IFISA by putting up a loan for sale, then very quickly buying it back within my IFISA. Then move the funds over from the normal account into the IFISA and do the next loan. I lost about 5 percent snapped up by other lenders, but if you pick a quiet time you should get most in the IFISA. You could always use a second device (and possibly a second person) so that you don't have to switch your account over from normal to IFISA. The rest of my performing loans (i.e. those with current availability) are sitting in the sale queue until someone kindly buys them or the loan repays. You should be barred from buying your own taxable loan parts or at least time barred to ensure a fair and open market available for all users. elliotn you just want to steal his loans.
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elsee
Member of DD Central
Retired:D
Posts: 196
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IFISA
Jun 26, 2018 15:36:53 GMT
Post by elsee on Jun 26, 2018 15:36:53 GMT
I went with AC again this year as there was nothing on MT and nothing in the pipeline. I'm hoping next year will be better, after Coll has been resolved and LY...do something/anything (except go bust of course)
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james21
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IFISA
Jun 26, 2018 16:17:58 GMT
Post by james21 on Jun 26, 2018 16:17:58 GMT
Sadly the MT IFISA doesn't seem to be working out for me, as there is nothing to invest in other than things I am already at my limit in or don't want. Unless something changes dramatically there is no way I am likely to get fully invested this year:( Other than is reported in the regular pipeline updates, is there anything different on the horizon SophieThing ? Open an IFISA account elsewhere; dont fund it but transfer what funds from MT that you have spare, there is a fee to transfer out but I did not look it up in the T&C
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archie
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IFISA
Jun 26, 2018 17:09:14 GMT
Post by archie on Jun 26, 2018 17:09:14 GMT
You don't actually need to get fully invested this year. The MT IFISA is flexible.
You only need to have the full amount in cash or invested at the end of each tax year to retain the full allowance. The unused amount can still be withdrawn and replaced in future tax years.
Note : I'm not recommending that's what anyone should do, just mentioning a possible option.
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IFISAcava
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IFISA
Jun 26, 2018 18:09:53 GMT
Post by IFISAcava on Jun 26, 2018 18:09:53 GMT
I managed to "transfer" most on my loans to an IFISA by putting up a loan for sale, then very quickly buying it back within my IFISA. Then move the funds over from the normal account into the IFISA and do the next loan. I lost about 5 percent snapped up by other lenders, but if you pick a quiet time you should get most in the IFISA. You could always use a second device (and possibly a second person) so that you don't have to switch your account over from normal to IFISA. The rest of my performing loans (i.e. those with current availability) are sitting in the sale queue until someone kindly buys them or the loan repays. You should be barred from buying your own taxable loan parts or at least time barred to ensure a fair and open market available for all users. The fact that some get snapped up suggests it is legitimately on the open market. Bots cheese me off more than selling from non-ISA to ISA accounts
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hantsowl
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Post by hantsowl on Aug 1, 2018 11:11:13 GMT
You should be barred from buying your own taxable loan parts or at least time barred to ensure a fair and open market available for all users. The fact that some get snapped up suggests it is legitimately on the open market. Bots cheese me off more than selling from non-ISA to ISA accounts I agree totally with that last comment. The ONLY reason that I am going elsewhere with my ISA money is because MT will do nothing about bots on the SM. I have no problem with selling my loans from my regular account on the SM and buying back into an ISA if it were a level playing field. But with certain loans which are rarely available on the SM, these will vanish immediately to a waiting bot. Take a look at the recent sequence of pawn loans which are rarely available. One account seems to be hoovering up the majority of any available parts. I cannot believe that a bot is not involved somehow. MT having a quiet word with bot creators does not solve the problem. The only realistic solution (and I never though I would type these words) would be to use a recaptcha for SM transactions. I found these to be a pain in the a**e when Ly started using them, but they do seem to thwart the bots.
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Post by funkymonkey on Aug 1, 2018 11:21:25 GMT
The fact that some get snapped up suggests it is legitimately on the open market. Bots cheese me off more than selling from non-ISA to ISA accounts I agree totally with that last comment. The ONLY reason that I am going elsewhere with my ISA money is because MT will do nothing about bots on the SM. I have no problem with selling my loans from my regular account on the SM and buying back into an ISA if it were a level playing field. But with certain loans which are rarely available on the SM, these will vanish immediately to a waiting bot. Take a look at the recent sequence of pawn loans which are rarely available. One account seems to be hoovering up the majority of any available parts. I cannot believe that a bot is not involved somehow. MT having a quiet word with bot creators does not solve the problem. The only realistic solution (and I never though I would type these words) would be to use a recaptcha for SM transactions. I found these to be a pain in the a**e when Ly started using them, but they do seem to thwart the bots. What's the name of the account(s) that you believe are using bots? There are a lot of transactions by accounts I****1 but all IFISA accounts start with an I and end with a 1.
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Post by MoneyThing on Aug 1, 2018 11:25:54 GMT
The fact that some get snapped up suggests it is legitimately on the open market. Bots cheese me off more than selling from non-ISA to ISA accounts I agree totally with that last comment. The ONLY reason that I am going elsewhere with my ISA money is because MT will do nothing about bots on the SM. I have no problem with selling my loans from my regular account on the SM and buying back into an ISA if it were a level playing field. But with certain loans which are rarely available on the SM, these will vanish immediately to a waiting bot. Take a look at the recent sequence of pawn loans which are rarely available. One account seems to be hoovering up the majority of any available parts. I cannot believe that a bot is not involved somehow. MT having a quiet word with bot creators does not solve the problem. The only realistic solution (and I never though I would type these words) would be to use a recaptcha for SM transactions. I found these to be a pain in the a**e when Ly started using them, but they do seem to thwart the bots. Afternoon hantsowl. We constantly monitor for bot-like activity on the platform and we get alerts when purchases are made too quickly (between listing & purchase), which appear beyond humanlike behaviour. We investigate each one and where appropriate we have permanently banned individuals from being able to invest in loans going forwards. I can assure you that we are proactive in this regard as we do want to ensure the platform is level playing field. Might the activity you see be with respect to purchases by 'i***1'? I would just highlight that all ISA accounts share the same visible user ID. Kind regards, Ed
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hantsowl
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Post by hantsowl on Aug 1, 2018 11:35:39 GMT
I agree totally with that last comment. The ONLY reason that I am going elsewhere with my ISA money is because MT will do nothing about bots on the SM. I have no problem with selling my loans from my regular account on the SM and buying back into an ISA if it were a level playing field. But with certain loans which are rarely available on the SM, these will vanish immediately to a waiting bot. Take a look at the recent sequence of pawn loans which are rarely available. One account seems to be hoovering up the majority of any available parts. I cannot believe that a bot is not involved somehow. MT having a quiet word with bot creators does not solve the problem. The only realistic solution (and I never though I would type these words) would be to use a recaptcha for SM transactions. I found these to be a pain in the a**e when Ly started using them, but they do seem to thwart the bots. Afternoon hantsowl. We constantly monitor for bot-like activity on the platform and we get alerts when purchases are made too quickly (between listing & purchase), which appear beyond humanlike behaviour. We investigate each one and where appropriate we have permanently banned individuals from being able to invest in loans going forwards. I can assure you that we are proactive in this regard as we do want to ensure the platform is level playing field. Might the activity you see be with respect to purchases by 'i***1'? I would just highlight that all ISA accounts share the same visible user ID. Kind regards, Ed Oops...my bad. That was the account that seemed to be scooping up most of the bling 😳
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archie
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Post by archie on Aug 1, 2018 13:20:42 GMT
It's not legal to do that, it has to be an open market sale and buyback.. I'm transfering some ISAs currently and many of the ISA rules are pretty inappropriate for IFISAs and AC and FC for example handle transfers out quite differently. I'm pretty sure then open market thing is all about ensuring transfers are made at fair value and have nothing to do with open markets. A stockbroking ISA can usually be asked to transfer at the current mid price directly between dealing and ISA accounts without any trouble. Since MTs market is fixed price, a direct transfer at that fixed price should also be available. To say otherwise is just a poor interpretation of the intent of the current (slightly broken) rules. Just my thoughts (retires to bunker, put head between legs) That may be logical but not within the rules.
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ilmoro
Member of DD Central
'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 Aug 1, 2018 13:55:20 GMT
It's not legal to do that, it has to be an open market sale and buyback.. I'm transfering some ISAs currently and many of the ISA rules are pretty inappropriate for IFISAs and AC and FC for example handle transfers out quite differently. I'm pretty sure then open market thing is all about ensuring transfers are made at fair value and have nothing to do with open markets. A stockbroking ISA can usually be asked to transfer at the current mid price directly between dealing and ISA accounts without any trouble. Since MTs market is fixed price, a direct transfer at that fixed price should also be available. To say otherwise is just a poor interpretation of the intent of the current (slightly broken) rules. Just my thoughts (retires to bunker, put head between legs) Actually open market is the key. The rules are specific that direct transfer cannot occur for either stock/shares or P2P loans. Bed&ISAing is allowed for S&S because of the nature of the markets that they are traded on, ie open and distinct from the ISA manager. A platform would be able to do a direct transfer fairly easily on a P2P market as they provide the market, therefore it isnt permitted as it potentially wouldnt be an open market.
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IFISA
Aug 21, 2018 9:19:24 GMT
Post by spareafewcoppersguv on Aug 21, 2018 9:19:24 GMT
The recent repayments have virtually wiped out my ISA holdings and I am thinking about liquidating the balance and transferring elsewhere. Any others feeling the same? Where to transfer to though? FC would certainly be a lot easier. Any thoughts? SophieThing recent pipeline updates don't sound all that encouraging. More property....maybe. Anything else on the horizon to encourage me to stick it out a while longer?
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toast
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IFISA
Aug 21, 2018 9:55:00 GMT
Post by toast on Aug 21, 2018 9:55:00 GMT
The recent repayments have virtually wiped out my ISA holdings and I am thinking about liquidating the balance and transferring elsewhere. Any others feeling the same? Where to transfer to though? FC would certainly be a lot easier. Any thoughts? SophieThing recent pipeline updates don't sound all that encouraging. More property....maybe. Anything else on the horizon to encourage me to stick it out a while longer? Moneything IFISA is flexible, so you have the option of removing funds now and then re-adding them at a later date as new loans are launched. This does not affect your ISA annual contribution limit. You should be aware of the £1000 minimum subscription limit detailed in term 8.4 though.
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