littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 27, 2017 12:23:23 GMT
I put a loan from my Classic account on the Loan Exchange then switched to my ISA account to see if I could buy it in that a/c. However, it did not show up as available. I went back to the Classic a/c and removed it from the Exchange.
Possibly PL have coded it so you do not see your own loans?
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Post by proplend on Jun 27, 2017 15:12:07 GMT
That’s right littleoldlady, it isn’t a bug. We’ve configured our platform this way to stop Lenders transacting with themselves.
Contract law dictates that there needs to be two or more parties to contractual agreements. Simply put, you can’t be the buyer and the seller in this transaction for a specific loan part.
Please feel free to give us a call if you want to discuss either of your Proplend accouts in more detail. Richard
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
|
Post by littleoldlady on Jul 5, 2017 9:47:26 GMT
That’s right littleoldlady, it isn’t a bug. We’ve configured our platform this way to stop Lenders transacting with themselves. Contract law dictates that there needs to be two or more parties to contractual agreements. Simply put, you can’t be the buyer and the seller in this transaction for a specific loan part. Please feel free to give us a call if you want to discuss either of your Proplend accouts in more detail. Richard How about moving cash from Classic to ISA? I only have a transferred in previous year's ISA so I would not want such a transfer to count as current year - that is if it is allowed. I am gradually selling my loans in the Classic a/c and replacing them with (different) loans in my ISA a/c but I have to move the funds via my bank which is an added pain on top of the .5% fee.
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Post by proplend on Jul 5, 2017 10:19:06 GMT
That’s right littleoldlady, it isn’t a bug. We’ve configured our platform this way to stop Lenders transacting with themselves. Contract law dictates that there needs to be two or more parties to contractual agreements. Simply put, you can’t be the buyer and the seller in this transaction for a specific loan part. Please feel free to give us a call if you want to discuss either of your Proplend accouts in more detail. Richard How about moving cash from Classic to ISA? I only have a transferred in previous year's ISA so I would not want such a transfer to count as current year - that is if it is allowed. Moving funds from your Classic account to your ISA can count as a flexible 'return' of any ISA funds withdrawn in the first instance - anything deposited over the returnable amount would then be current year subscriptions. If there haven't been any withdrawals from the ISA in the current tax year, the deposit (from the Classic account) would immediately be treated as a subscription - allowance permitting. Would you like us to give you a call to discuss specifics? Richard
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Post by proplend on Jul 5, 2017 10:34:11 GMT
That’s right littleoldlady, it isn’t a bug. We’ve configured our platform this way to stop Lenders transacting with themselves. Contract law dictates that there needs to be two or more parties to contractual agreements. Simply put, you can’t be the buyer and the seller in this transaction for a specific loan part. Please feel free to give us a call if you want to discuss either of your Proplend accouts in more detail. Richard How about moving cash from Classic to ISA? I only have a transferred in previous year's ISA so I would not want such a transfer to count as current year - that is if it is allowed. I am gradually selling my loans in the Classic a/c and replacing them with (different) loans in my ISA a/c but I have to move the funds via my bank which is an added pain on top of the .5% fee. Just responding to the second part of your post that you've just added - we can move funds from your Proplend Classic account to your Proplend IFISA account on your instruction, assuming the same bank account is registered with both Proplend accounts. Richard
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