ashtondav
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Post by ashtondav on Feb 18, 2019 13:04:48 GMT
FC transfer the bad loans into a non isa account and transfer the balance. You then lose isa benefits on the unsellable loans, of course
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dorset
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Post by dorset on Feb 18, 2019 13:21:38 GMT
No, I am saying that you are only going to make the estimated returns if you invest for at least 5 years at the appropriate diversification level, reinvest capital and interest and neither sell or withdraw money. Do anything else and you run the risk of underperforming. This was certainly true in the past with my steady 7%+ returns between 2011 and 2017. However with my 102 defaults in 2018 and 13 to date in 2019 on a well diversified portfolio - no chance. My "profit" from net interest, less defaults plus recoveries since early 2018, today stands at a positive £12. Enjoy.
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IFISAcava
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Post by IFISAcava on Feb 18, 2019 13:31:05 GMT
On the Lending Crowd autoinvest product, after 24 months or so my defaults/stuck loans are neck and neck with my interest plus bonuses.
Am getting out of unsecured SME loans in autoaccounts for now - especially with Brexit crisis yet to fully hit the fan. Just a modest sum left in Crowd2Fund on a self select basis for now (but less than a year ago).
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Post by hammertime on Feb 18, 2019 14:33:55 GMT
Funding Circle was o.k up until they changed there platform 18 months ago or so. I did well on it but then had to get out as did lots of others. It has changed so much now you are better off elsewhere.
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blender
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Post by blender on Feb 19, 2019 16:12:59 GMT
Because I can't open a new one with Assetz until then. Puzzled. You do realise that you can open as many IFISAs as you like in one tax year, as long as you only put NEW money into ONE of them? Thanks, I must admit to not being fully into the rules of transfers. The money I wish to move is in an IFISA opened this year with FC (we all make mistakes) and it is that money I wish to move to an Assetz IFISA. Can I open a new IFISA with Assetz this year and transfer this year's FC ISA? It's only a few weeks to go but the amount that can be cashed from FC is getting worse, not better! And another thing; I getting really p*ssed off with having to identify traffic lights.
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IFISAcava
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Post by IFISAcava on Feb 19, 2019 16:37:26 GMT
Puzzled. You do realise that you can open as many IFISAs as you like in one tax year, as long as you only put NEW money into ONE of them? Thanks, I must admit to not being fully into the rules of transfers. The money I wish to move is in an IFISA opened this year with FC (we all make mistakes) and it is that money I wish to move to an Assetz IFISA. Can I open a new IFISA with Assetz this year and transfer this year's FC ISA? It's only a few weeks to go but the amount that can be cashed from FC is getting worse, not better! you can only do a full transfer of the FC to Assetz for current tax year. Has to be cash though, so if there are investments stuck they will be lost from your ISA allowance (AFAIU - I haven't done an FC transfer - some platforms may not let you do it if you have some stuck and can't transfer it all) Or wait until 6 April and do a partial transfer of previous years so that you don't lose any ISA allowance for the stuck investments and also open up a new one at AC.
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ashtondav
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Post by ashtondav on Feb 19, 2019 17:04:29 GMT
Thanks, I must admit to not being fully into the rules of transfers. The money I wish to move is in an IFISA opened this year with FC (we all make mistakes) and it is that money I wish to move to an Assetz IFISA. Can I open a new IFISA with Assetz this year and transfer this year's FC ISA? It's only a few weeks to go but the amount that can be cashed from FC is getting worse, not better! you can only do a full transfer of the FC to Assetz for current tax year. Has to be cash though, so if there are investments stuck they will be lost from your ISA allowance (AFAIU - I haven't done an FC transfer - some platforms may not let you do it if you have some stuck and can't transfer it all) Or wait until 6 April and do a partial transfer of previous years so that you don't lose any ISA allowance for the stuck investments and also open up a new one at AC.Yes, unsellable loans are transferred to a non isa account and you lose the tax advantages on that amount.
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delboy
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Post by delboy on Feb 20, 2019 14:35:58 GMT
I have a handful of unsellable loans which are showing as 'processing', and have been so for about 4 days. Can anyone tell me what this means and what takes 4 days to process? This is frustrating as I am trying to transfer my ISA out - if FC receive the instruction from my new ISA provider while these are still 'processing' I will lose the value of those loans from my total ISA transfer value.
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corto
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one-syllabistic
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Post by corto on Feb 20, 2019 16:42:25 GMT
Most common reason for this: If clearing a scheduled payment fails they retry for a few days.
You can check under Repayments on the page of the specific loan.
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Post by befuddled on Feb 22, 2019 17:08:16 GMT
How do FC decide if new cash coming in goes out on new loans, or into buying existing "for sale" loans. Obviously they are heavily motivated to create new loans
and demotivated to "recycle" existing loans
The help page unhelpfully says:
If you would like to access your money early, you are able to sell your loan parts to other investors, subject to demand.
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blender
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Post by blender on Feb 22, 2019 20:34:54 GMT
How do FC decide if new cash coming in goes out on new loans, or into buying existing "for sale" loans. Obviously they are heavily motivated to create new loans and demotivated to "recycle" existing loans The help page unhelpfully says: If you would like to access your money early, you are able to sell your loan parts to other investors, subject to demand.
I believe the new loans take priority. Lenders wishing to sell are placed into a FIFO queue, and they work through the queue of selling lenders when there is spare cash, like at weekends. Daily repayments are a major source of cash.
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daveb
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Post by daveb on Feb 24, 2019 18:33:43 GMT
Like others I was able to sell on FC the same day until this year. In fact I can't remember when I put the last sell request in, and it doesn't seem possible to see anywhere on the system. It looks like I'll need to keep a separate record-never felt the need when sales were quick.
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amwinv
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Post by amwinv on Feb 24, 2019 20:52:23 GMT
About 2-3 months ago it took around a day to get sold.
I put in a request on the 8th feb. Still waiting. :S
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corto
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Post by corto on Feb 25, 2019 14:01:48 GMT
BTW: Reinvesting also seems slower than usual. 3.5d for one ongoing small loan part, several processing. And chunks are much lower than .5%.
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amwinv
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Post by amwinv on Feb 27, 2019 12:11:30 GMT
About 2-3 months ago it took around a day to get sold. I put in a request on the 8th feb. Still waiting. :S Just for anyone wondering, it sold out today. Took just under 3 weeks. Side note - if loans go late while in the sale queue, but catch up with the deficit before sold - they are still completely taken out of the queue for some reason. I have a few pieces that i now have to put in the queue and wait all over again. 
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