toast
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Post by toast on Nov 10, 2019 13:06:49 GMT
I see this loan, or at least how it's default has been handled , as a cautionary tale. When development loan goes into default and the developer just walks away leaving his 'security', it often looks tempting for the platform or administrator to try to make the developers projections work. In this case the previous worst case scenario will not be achieved, so was the right decision made? And the decision on what to do with the lower half of this site is still pending. At this stage it feels like taking on the build is the riskier option and would cause greater delays in returning funds to lenders (over 18 months since administrators were appointed). I guess that needs to be balanced with the size of the haircut seen when selling an undeveloped site...
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toast
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Post by toast on Oct 3, 2019 22:00:13 GMT
I learnt from someone else on here that the trick is to round UP to the nearest penny when withdrawing invested money to your cash account. So if you have £6.723234756103203450235234 invested in QAA then request to release £6.73 to your cash account. That will leave your QAA with exactly zero balance. You can't use this trick to clear out your cash account to your bank account, but you might be able to have AC close your account if you have precisely zero invested and just a few femto-pence held as cash.
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toast
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Post by toast on Sept 17, 2019 12:09:53 GMT
I have got out at the top twice by using the P U L method which guarantees you get out at the top. I'm sceptical. What's the P U L method? Googling that gives responses on a quite different subject!
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toast
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Post by toast on Jul 19, 2019 8:47:51 GMT
ablrate No July payment and no admin note? Have the pubs run dry? LW Payment received at 09:35. Check again?
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toast
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Post by toast on Jul 11, 2019 17:26:35 GMT
On my list of unmatched orders, clicking on the number in the Queue column does not show the queue. And it would be nice if I could open this in a new tab more easily rather than it be a javascript 'popUp()' link. RateSetter
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toast
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Likes: 90
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Post by toast on Jun 22, 2019 22:01:12 GMT
The number I've supplied in the past for the AC account number is the reference number used for transfers into my IFISA cash account. To find this, click the Manage Funds button in the top-right corner and choose Deposit Funds -> IFISA -> Cash Account -> Reference. OK, I found it there. Thanks. Now I am trying to find a way to fill in Coventry BS's application form which doesn't accept Assetz's sort code and doesn't have space for the reference number either. I'll get there in the end!
I must say all this effort required to get funds out of a p2p platform is in itself one reason not to bother in the first place. Your AC account doesn't have a sort code/account number like a current account would. On the Coventry form, put your AC Reference number into the "ISA number" box and leave the sort code and roll/reference boxes empty. It's a little awkward because Coventry doesn't have a distinct form for IFISA transfers and they make you use the cash transfer form.
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toast
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Posts: 158
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Post by toast on Jun 22, 2019 17:47:30 GMT
I may be wrong but from what I just read in older threads, apparently the IFISA cash funds can be swept away into the QAA as idle funds and earn interest while waiting for the GBBA sale to complete and the new cash ISA provider to come along. I am not sure what happens with unsold loans though.
Ah, yes, I too remember someone else reporting that funds swept into QAA from the cash account could be transferred out just fine. In "unusual market conditions" AC could decide to block all withdrawals from QAA and that could block your transfer (never happened to date). The number I've supplied in the past for the AC account number is the reference number used for transfers into my IFISA cash account. To find this, click the Manage Funds button in the top-right corner and choose Deposit Funds -> IFISA -> Cash Account -> Reference.
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toast
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Post by toast on Jun 22, 2019 16:27:08 GMT
It can take a little while for the transfer to complete, so allow 3-4 weeks at least. Can anyone suggest a way to reduce the time funds will be sitting in the Cash Account earning no interest? With the Quick Access Account option these days there is no excuse for AC and the destination cash ISA provider to demand that funds don't earn interest for weeks until they sort it out. I suspect that's going to need the regulator to mandate 7 day transfers. If it can be done for current accounts, you'd think it was possible for ISAs.
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toast
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Post by toast on Jun 21, 2019 20:25:58 GMT
I kind of like it as it is! I guess so long as the new page keeps a distinction between the current expected repayment schedule and this new "predicted" schedule taking into account the factors you mention then I'd be happy.
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toast
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Post by toast on Jun 14, 2019 17:24:00 GMT
MoneyThing I have been looking at the RCC loans on the platform and note the descriptions say "Bidding suspended. Please see updates for further information" However, for some reason the update tab on these loans seems to be missing... could you fix this please? thanks in advance Until that's corrected, you can read these updates via Support -> Loan Updates -> Previous Updates.
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toast
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Post by toast on Jun 7, 2019 17:35:15 GMT
Is it a capital gain? You bought a loanpart for £100 and it's now worth £107. Or is it like buying a £107 loanpart @93.5% thus costing you about £100 to buy? I've no idea!
Luckily within an ISA this complication is avoided.
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toast
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Post by toast on Jun 7, 2019 10:33:25 GMT
You can transfer from an IFISA to an IFISA elsewhere or another type of ISA completely. You need to get a transfer form from your new provider. You will enter your AC IFISA details on the transfer form and your new provider will do the rest for you. Your AC holdings need to be in cash for the move to occur (you can't take your loan-parts off the AC platform). It can take a little while for the transfer to complete, so allow 3-4 weeks at least. I also thought that you could transfer from an IFISA to a ISA. However, I have yet to find any ISA (stock & shares) provider/platform that will accept transfers in from a IFISA. On further research, I haven't seen any guidance regarding the transfer from IFISA to ISA, only the other way. Does anyone know of a Stock & Share ISA provider/platform that accepts transfers from IFISAs? I've never transferred from IFISA to a stocks and shares ISA, but I have transferred from IFISA to cash ISA. Coventry Building Society and Santander will accept transfers from an IFISA.
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toast
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Post by toast on Jun 4, 2019 20:56:38 GMT
I should also mention that you cannot split your current year's contributions to AC at the time you move (so you will need to move all or nothing - you can't keep half of the current year's contributions on AC and transfer the rest). However, if you have made contributions to your AC IFISA in previous tax years then you are allowed to split those funds however you wish at the time of transfer.
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toast
Member of DD Central
Posts: 158
Likes: 90
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Post by toast on Jun 4, 2019 20:53:21 GMT
Any suggestions on the best way to do this? I'm presuming it must be possible to keep it within the ISA protection, but to move to another ISA provider. Does it have to be an IFISA? (If so, any suggestions?) You can transfer from an IFISA to an IFISA elsewhere or another type of ISA completely. You need to get a transfer form from your new provider. You will enter your AC IFISA details on the transfer form and your new provider will do the rest for you. Your AC holdings need to be in cash for the move to occur (you can't take your loan-parts off the AC platform). It can take a little while for the transfer to complete, so allow 3-4 weeks at least.
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toast
Member of DD Central
Posts: 158
Likes: 90
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Post by toast on Jun 4, 2019 10:28:55 GMT
Not all of my account history from the 'Old UI' is accessible from the current UI yet. Will this be accessible in the forthcoming UI?
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