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Post by kevin1841 on Jul 15, 2017 10:48:44 GMT
Hi People,
So I've created a new Zopa ISA and a CORE product. I can see that I can now Invest repayments from Classic to CORE, but I was expecting to be able to go from Classic to CORE ISA. Am I missing something?
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jul 15, 2017 10:53:43 GMT
You have to withdraw to holding and then move to ISA, direct reinvestment isn't possible unfortunately, and that means funds are treated as 'new money' in the ISA and get lent very slowly.
Edit: You can set repayments to holding.
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Post by kevin1841 on Jul 15, 2017 12:33:45 GMT
Thanks Greenwood2... Sounds like it might be an idea to switch to CORE now, and then wait for things to settle down before doing the ISA thing... Things may have sped up by then?
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Post by kevin1841 on Jul 15, 2017 12:35:42 GMT
Ah, but then I'm going to be charged 1% if I leave it until later. This is a nightmare!
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Greenwood2
Member of DD Central
Posts: 4,251
Likes: 2,694
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Post by Greenwood2 on Jul 15, 2017 15:07:40 GMT
The free selling to move to ISA hasn't started yet (it was delayed) so selling now will cost 1%.
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Post by Harland Kearney on Jul 16, 2017 1:08:02 GMT
Ive had a warning that selling down could take upto 20 days, would bare this in mind.
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Post by kevin1841 on Jul 16, 2017 7:33:38 GMT
Thanks for your input guys, which has given me a better understanding of what's going on. I'm no nearer to knowing what to do though! Having created the ISA and CORE, I might sit and do nothing for a while - I've got until the end of November so might as well take advantage of the protection afforded by Classic for a bit longer...
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Post by wyndstryke on Jul 17, 2017 12:57:19 GMT
We're expecting the 'free' sales to start any day now I think (should be getting an email?). When this starts, you should be able to sell directly & fund the isa without going into the new money queue (obviously right now you shouldn't sell-into-isa from classic, although I did sell-into-isa a block from Access).
I suspect the start of the free-selling has been delayed by that missing-small-change bug which was found recently & has been mentioned here.
Now, I have a question myself - The block I sold from Access is 99% done as far as I can tell (is there any way to see?), but has been stuck in selling mode since 22nd June which means that I can't adjust my repayment settings. Is there any way to say 'that's enough' & stop selling?
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Post by wyndstryke on Jul 18, 2017 17:20:12 GMT
Now, I have a question myself - The block I sold from Access is 99% done as far as I can tell (is there any way to see?), but has been stuck in selling mode since 22nd June which means that I can't adjust my repayment settings. Is there any way to say 'that's enough' & stop selling? Eventually figured this one out - you actually have to click the 'sell loans' button (on the product you were selling), and it'll tell you how far it is through, and gives an option to stop the sales. In my case the sale process was £14 short of the total sale amount... suspect it had been sat at that point for quite a while. The sale process does not stop immediately, it takes an (unknown) period of time.
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Post by kevin1841 on Jul 25, 2017 15:21:57 GMT
Well I'm even more puzzled now! Having created CORE, but left the settings for Classic to go to Classic, why have I got £29.36 in CORE?
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nairda
Member of DD Central
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Post by nairda on Jul 25, 2017 16:08:56 GMT
Well I'm even more puzzled now! Having created CORE, but left the settings for Classic to go to Classic, why have I got £29.36 in CORE? Zopa moves in mysterious ways. It is not for we mere mortals to understand these things. Just trust in the Good Lord Algorithm.
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