david42
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Post by david42 on Nov 23, 2017 16:18:49 GMT
Funding Circle will be making their ISA available progressively from 30 Nov 2017. Detail hereSummary: Flexible ISA. Transfers out allowed. Transfers in will be allowed later as part of the progressive roll out. No extra ISA charges apart from the 1% management fee that applies to any Funding Circle account. |
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Post by gadget on Nov 23, 2017 16:57:42 GMT
Yup and being progressively rolled out to existing lenders then new ones.
"We will open the ISA to each group of investors in the order their account was created"
We'll see when i get an e-mail (registered: 2011)
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Post by pigbreeder on Nov 23, 2017 18:02:57 GMT
Who waits until the end of November before they choose their ISA? It looks like it could be months before current ISA's can be transferred in.
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IFISAcava
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Post by IFISAcava on Nov 23, 2017 19:16:37 GMT
Who waits until the end of November before they choose their ISA? It looks like it could be months before current ISA's can be transferred in. They are clearly not after experienced investors. I've got a 5 figure sum earmarked to transfer in to FC but it may get redirected if transfers aren't allowed soon - the competition is hotting up.
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Post by skint4achange on Nov 23, 2017 20:53:47 GMT
I have just partially transferred last years ISA allowance to Goji (I am not trying to sell their product or anything like that). The reason I chose them is that from what I can see they do most of the administration for a few other IFISA providers. The way I figure it, if IFISA providers are using them, why wouldn't I?
FC have put me off by how slowly their Autobid system seems to be in allocating funds (I know Goji could be the same, but I have not experienced that yet.)
I will diversify further, next year my allowance will be split 50/50 IFISA and S&S but with different providers. Maybe FC or RS, will see how they perform over the next few months (Not talking about RS IFISA as they have not launched yet). Not sure if that is a good idea or not, but will see how Goji works out.
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markr
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Post by markr on Nov 30, 2017 14:13:58 GMT
As a data point, I joined FC in April 2011 and have received my ISA invitation today, not that it matters since I've already used my allowance for this year.
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IFISAcava
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Post by IFISAcava on Nov 30, 2017 14:19:30 GMT
As a data point, I joined FC in April 2011 and have received my ISA invitation today, not that it matters since I've already used my allowance for this year. As surely have most people. Can't be long before transfers in are allowed. Otherwise AC is going to steal a march on FC.
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Post by Badly Drawn Stickman on Nov 30, 2017 14:44:30 GMT
As a data point, I joined FC in April 2011 and have received my ISA invitation today, not that it matters since I've already used my allowance for this year. As surely have most people. Can't be long before transfers in are allowed. Otherwise AC is going to steal a march on FC. I seem to recall they were going to phase it in based on length of membership. Logical step really as it will potentially require a lot of funding if a reasonable percentage take up the offer. I suspect some may be waiting quite a while. Might be worth adding that a one legged dog could probably 'steal a march' on Funding Circle.
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blender
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Post by blender on Dec 5, 2017 14:41:47 GMT
As a data point, I joined FC in April 2011 and have received my ISA invitation today, not that it matters since I've already used my allowance for this year. As another data point, August 2012 - and so they progress quickly. Same applies about 2017/18 allowance.
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Post by gadget on Dec 6, 2017 18:05:14 GMT
As a data point, I joined FC in April 2011 and have received my ISA invitation today, not that it matters since I've already used my allowance for this year. As another data point, August 2012 - and so they progress quickly. Same applies about 2017/18 allowance. I got the invite yesterday (registered late 2011). Deposited a few thousand and £500 out the door today (seems mostly primary market some secondary).
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Post by gadget on Dec 6, 2017 18:40:10 GMT
Having never used Autobid before i'm now i'm obsessively watching the money go out and thinking: 5.x%? For a retail company with 200k turnvover? Second hand property loans with 2 months to go (/default). Gnar!
Let it go gadget, let it go...
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blender
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Post by blender on Dec 6, 2017 18:46:54 GMT
Having never used Autobid before i'm now i'm obsessively watching the money go out and thinking: 5.x%? For a retail company with 200k turnvover? Second hand property loans with 2 months to go (/default). Gnar! Let it go gadget, let it go... They should provide some sort of 'parental control' which you could set to stop being able to view the gory details.
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Post by Badly Drawn Stickman on Dec 6, 2017 21:40:30 GMT
Having never used Autobid before i'm now i'm obsessively watching the money go out and thinking: 5.x%? For a retail company with 200k turnvover? Second hand property loans with 2 months to go (/default). Gnar! Let it go gadget, let it go... Its a well known fact that the easiest way to 'cure' a bad habit, is to replace it with a more dangerous and 'edgy' one. I have invested a small amount in Mintos, wonderfully complex and endless ways to lose money, or maybe not (who knows). Certainly occupies the mind trying to work out the endless combinations of currency swapping and buying hopelessly defaulted loans. I predict a pending serious addiction problem for ex Funding Circle junkies. Or of course you really could 'let it go' and let big brother FC care for your every need. Red pill or blue pill the choice is yours.
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Post by brainsys on Jan 19, 2018 13:49:31 GMT
This 'bump' may help get the latest datapoint on roll-out. I'm May 2017 so pretty much the back-end of category 1. So if it got to me by April 6th (having used this year's allowance like most folks here) than if you want to stay with FC I can't see any reason why one shouldn't roll one's Classic a/c into their ISA.
However, given that most existing invites prior to that date have presumably had to be declined on the allowance issue - it looks like its going to be a bit of gang bang on that date with the SM rolling over massive portfolios. I predict utter chaos. Or am I being a bit charitable?
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bloodycat
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Post by bloodycat on Jan 26, 2018 9:50:36 GMT
I signed up January 2015 and got the invite earlier this week. -can't decide whether to dump the remains of this years isa allowance in here , shove it all in my stocks and shares ISA or try and find another cash ISA (already up to the protection limit on my existing cash isa once this years interest goes in).
Interestingly when you first open the page (https://www.fundingcircle.com/uk/innovative-finance-isa/) for more information The big header says estimated returns of 7.5% - until the page finishes loading when it drops to 7.2% - doesn't exactly inspire confidence.
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