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Post by newlender on Apr 12, 2018 3:38:35 GMT
I pre-funded £5k to go into my ISA in the new tax year; I already had put in the full amount in 2017/18. I've been locked out of my account since last Friday, so 5 days without access. It seems a good time now to set up a new thread so that we can post when we get access again and how the process has gone. Just out of interest, does anyone know if I'll end up with two ISA tabs on my homepage to reflect the two different years or will it all be consolidated into one chunk?
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aju
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Post by aju on Apr 12, 2018 16:31:08 GMT
zzzzzzzz! (couldn't find a tapping foot smiley)
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rambler
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Post by rambler on Apr 12, 2018 18:52:07 GMT
I have invested in Zopa ISA in both years and have only one ISA account/tab.
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aju
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Post by aju on Apr 12, 2018 22:22:56 GMT
I too have ISA investment from last year and as i am relending into the ISA from my Invest side I have some lending in this years allocation as well. I can also confirm that the only distinction is how much is left in this years allowance. After that the lending is just spread across the products as its used in the queue.
so far in the CSV files there are no indicators of funding that is relevant to each years allocation just when the loan was acquired. Clearly Zopa has to have this detailed somewhere in their data but we do not have that information in any that we currently receive. This of course may change in the future but I think Zopa has enough to work with at the moment.
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Post by newlender on Apr 13, 2018 7:46:21 GMT
It's now 7 days without access to my account and I have emailed Zopa for an update. Although I accept that a lockout is necessary while things are calibrated, loans sold and then the money re-invested in new ones the message on the website says 'a few days'. I also pointed out to them that the '10 days lockout message' was sent after my account had been locked, which isn't really the right way to do things. I would recommend that Zopa keep investors better informed if they are to repeat this process next year. I suppose that my main gripe is that we were promised a faster process for investing in the ISA this year if we pre-funded - this hasn't happened.
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Greenwood2
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Post by Greenwood2 on Apr 13, 2018 9:27:29 GMT
It will be interesting to see exactly when the transactions happened and what loans have been bought, it may be we are already mainly invested in loans that are immediately earning interest rather than having funds queued for new loans that won't pay for another month or more.
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aju
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Post by aju on Apr 13, 2018 17:31:59 GMT
It will be interesting to see exactly when the transactions happened and what loans have been bought, it may be we are already mainly invested in loans that are immediately earning interest rather than having funds queued for new loans that won't pay for another month or more. I'm not sure it works quite like that since its essentially moving from a non ISA lending book to an ISA lending book. Its true many will be the same loans perhaps but even when I moved 500+ loans from Classic to ISA with SG a month or two ago at least 80% of the loans were new to me although as you say they were not new loans. To certain degree though I think you are right however who is to say that the loans you pickup are at their start point they could actually be a lot nearer the end of their loan but there would be many more of them of course. Also quite a few sold out as well and quite quickly in the first month or that's what it seemed like to me.
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Post by newlender on Apr 16, 2018 12:28:35 GMT
Well, it's now 9 full days with no access to my account. Is anyone back in yet?
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Greenwood2
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Post by Greenwood2 on Apr 16, 2018 15:22:05 GMT
Nope, has anyone asked Zopa for an update?
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Post by newlender on Apr 16, 2018 19:13:37 GMT
Email at 6.23 to say I'm back in. Have checked all the figures and it's looking good. I spoke too soon; just noticed a default has crept in over the week but it's only £9. So now my £25k IFISA (£20k last year and £5k this time) is active. It is very tempting to put in the other £15k but my financial objectives planning has put a block on that - does anyone have £40k in the ISA, I wonder. 38% of my loans are Safeguarded too, which is more than I was expecting.
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Greenwood2
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Post by Greenwood2 on Apr 16, 2018 19:58:46 GMT
My loans were all £10 they seem to have been matched with loans less than £20, not too thrilled. Would have preferred £10 or less.
Edit: But the good news they all seem to be live loans not new loans, as far as I can see.
Edit: And I can't download my tax statement?...working this morning.
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