hantsowl
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Post by hantsowl on Jan 21, 2022 20:16:57 GMT
How do I open a Self Select ISA using this years ISA allowance when I have already transferred previous a previous years ISA into the auto ISA product? I cannot see any way of doing this. Top ups go to my general wallet and the “invest now” option only shows the auto products.
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hantsowl
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Post by hantsowl on Nov 28, 2021 21:32:04 GMT
Fri 19th: Email from Loanpad acknowledging receipt of transfer forms and sent on to HL. Wed 24th: Money received from HL in my Loanpad account. Seems pretty quick to me and kudos to both companies involved.
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hantsowl
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Post by hantsowl on Nov 25, 2021 11:24:53 GMT
I have seen this happen on occasion. Eventually the autoinvest funds show up as usual.
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hantsowl
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Post by hantsowl on Nov 3, 2021 22:02:17 GMT
Yes, it shows under “my investments” and also as not trade able on the loan exchange. It is the list of “Existing Loans” that it has gone missing from.
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hantsowl
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Post by hantsowl on Nov 2, 2021 10:38:40 GMT
This loan seems to have disappeared from the list of loans ablrate . Is there a reason for that?
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hantsowl
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Post by hantsowl on Jun 16, 2021 19:47:39 GMT
New 36-month term loan for Colchester C*** L*** with P*** (PLL0979) has been announced. Total loan: £530,000 LTV: 56.7% Tranche A: £467.5k @ 6.3% gross Tranche B: £62.5k @ 8.0% gross The security is a first legal charge on a freehold property currently occupied by two tenants on rolling one-year tenancies. The strategy is to obtain full planning consent for residential/student accommodation development and then to sell the property or to undertake the development directly. See the full loan request and valuation report for details which are available on the website. Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 16-Jun). [When the loan becomes available for Self-Select lenders, this post will be updated.] Sorry, folks, I've lost the email! Can anyone supply the details from the email about Self-Select?
AutoLend Self-Select is now active for this loan. To register for investment please login and go to the AutoLend tab in your Dashboard and select the Colchester Commercial Land loan together with the Tranche(s) and your maximum investment size. Please make sure you have registered your Self-Select investments and have cleared funds in your Proplend account by close of business on Thursday 17th of June. The loan will fund on Friday morning and you will receive email notification shortly after.
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hantsowl
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Post by hantsowl on Jun 9, 2021 12:30:31 GMT
Not actually correct. I have a £1k limit set, but because I had £2k cash sitting in the account I was allocated a slice. You specified in your Auto-Lend parameters: "Maximum Investment Per Loan" = £1,000 and Proplend's Auto-Lend has invested £2,000 in a single loan? Wow, this Auto-Lend 2.0 clearly has some serious flaws... I used the ‘contact us’ form to let them know that I prefer £1k per loan for added diversification and was offered the option of cancelling the £2k investment. This was done very quickly, so can’t really have any complaints.
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hantsowl
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Post by hantsowl on Jun 8, 2021 19:59:19 GMT
Comment: This will be one of Proplend's larger loans but with a minimum investment of £2k those lenders with limits of £1k per individual loan will be excluded. Not actually correct. I have a £1k limit set, but because I had £2k cash sitting in the account I was allocated a slice.
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hantsowl
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Post by hantsowl on Jun 2, 2021 15:34:23 GMT
Can anyone tell me if this loan has already been drawn down? It was due to have Self-select funds allocated last Friday (28-May) but I've seen no sign of it appearing as fully-funded on the Loans 'In Funding' web-page. Was it drawn-down so quickly that I missed it appearing? - it's already disappeared from the 'Pending' list. Not being a lender for this loan, Proplend denies me access to the status of the loan. It is in the "Completed Loans" page because it has already drawn down.
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hantsowl
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Post by hantsowl on May 14, 2021 7:15:52 GMT
Interesting article in todays p2pfinancenews....
FCA’s Collateral investigation nears conclusion
MICHAEL LLOYD INDUSTRY NEWS, NEWS, COLLATERAL, FCA, MP HARRIETT BALDWIN, NIKHIL RATHI, TREASURY COMMITTEE
Financial Conduct Authority (FCA) chief Nikhil Rathi told MPs that the investigations into Collateral, including a potential hack into the regulator’s register, are very close to a conclusion and hopes to provide another update by September.
Peer-to-peer pawnbroker and property lender Collateral collapsed into administration in February 2018 and entered liquidation in April 2019.
According to The Times, Collateral told prospective investors it held an “interim permission” for regulated activities and the FCA’s register showed this appeared to the case.
Someone changed the name on Regal Pawnbroker, a separate business where Collateral’s founder Peter Currie was a former director, to make it look like Collateral held the permission instead.
Rathi (pictured) told the Treasury committee that that specific issue has been tightened very considerably and the FCA is investing to keep ahead with cyber security.
He said he hopes to give a very substantive update on the Collateral investigation by September.
Read more: How P2P lending administrations are progressing
“What I would say is that they are very close to coming to a conclusion,” Rathi said.
“The enforcement investigation is at an advanced stage. I am not going to comment too much further because one element of it is a criminal investigation, but they are at an advanced stage.
“In the context of the cyber-security risks that we are all dealing with, which are published by the National Cyber Security Centre, I don’t think any chief executive is going to say they are comfortable; they are quite sobering in terms of the heterogeneous range of actors who seek to undermine us.
“For instance, you saw what happened in the US with an oil pipeline this week. However, where we have taken action is to deal with that specific issue around the register, where there was an ability to adjust the contact details around permission.
“That specific issue has been tightened up very considerably, but this broader issue of cyber-security—just as we tell the industry, this is an area where we will have to keep investing very heavily to try to stay ahead of a fast-moving adversary environment.”
Rathi did not answer MP Harriett Baldwin’s question on whether there will be a redress scheme to help those affected by the FCA’s particular regulatory failure.
“The enforcement investigation is under way,” he said.
“There are also, as you will be aware, a number of complaints relating to Collateral. So we will address all those complaints in the normal way, as the investigation reaches its conclusion.”
Rathi said he is “broadly comfortable” the FCA’s website reflects all the current participants in the market accurately and is investing very heavily in the register to continually improve the data integrity around it.
“Just because a firm is on the register, it doesn’t mean you get a full level of protection,” he said.
“We are dealing with everything from firms that that are registered for money laundering right through to the largest banking and investment groups in the country.
“So we try to make it more comprehensive in terms of how people understand the information on there.”
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hantsowl
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Post by hantsowl on Apr 24, 2021 12:15:31 GMT
I think I'm entitled to feel aggrieved then! If as an Auto-Lend 'Always-On' client of Proplend, I'm obliged to keep at least £1,000 in my account at all times and to accept any loan (primary or secondary) which Proplend offers, then I expect that I will get priority in the allocation of all TrancheA loans (subject to there being enough to go around all other 'Always-On' accounts). If some part of a TrancheA loan is allocated in a way to leave unfulfilled 'Always-On' accounts in the first allocation round, but is instead set aside for Auto-Lend 'Self Select' accounts, then I believe that the 'Always-On' clients have been misled. Does that seem unreasonable? I also failed to get a slice in my account with autolend ‘always on’. proplend Why are self-select accounts allocated loans when always-on accounts are missing out? This is not what was implied by the new code changes.
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hantsowl
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Post by hantsowl on Apr 21, 2021 17:55:29 GMT
After getting nothing of TrancheA with the Spalding loan, I've got nothing on the next, the new Grantham loan either! Grrrr! There must be a large customer base on Proplend now. Same for me. Only seem to get a slice of loans larger than £1000000. Makes you wonder if the smaller loans are reserved for a select group of investors 🤔
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hantsowl
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Post by hantsowl on Apr 8, 2021 12:46:54 GMT
Which loan is it please ? P* R* L* I*
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hantsowl
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Post by hantsowl on Mar 24, 2021 12:18:06 GMT
I note on the FS message board that the FCA have been making ex-gratia payments to those who submitted complaints due to the length of time taken for them to investigate. Am I missing something here? Why have these been offered to FS investors and NOT to Collateral investors who have been waiting longer for a resolution?
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hantsowl
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Post by hantsowl on Feb 25, 2021 12:42:03 GMT
I had auto lend switched on but no allocation for me Wow! that's a surprise...when did you switch it on ? No surprise really. My autolend remained on from the last loan but received nothing from this one. There are too many lenders with autolend set on for loans of this size. The allocation size should be reduce from £1000 to £500 in order to give more lenders a chance.
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