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Post by overthehill on Nov 14, 2021 21:14:01 GMT
I'm not sure what this means or if it is live yet. Not received any communication and I'm not wasting time trying to figure it out in my account !
"Kuflink has released an ISA wallet to separate lenders’ ISA allowance for the current and previous tax years and allow them to invest directly into ISA eligible deals."
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Post by Ace on Nov 14, 2021 22:40:01 GMT
I'm not sure what this means or if it is live yet. Not received any communication and I'm not wasting time trying to figure it out in my account !
"Kuflink has released an ISA wallet to separate lenders’ ISA allowance for the current and previous tax years and allow them to invest directly into ISA eligible deals."
I've asked Kuflink via email. Will report back when/if they reply.
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oldtimer
Member of DD Central
Posts: 211
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Post by oldtimer on Nov 15, 2021 6:44:59 GMT
This is what I was told. You apply as if you were going to invest in one of their isa fixed term deals but in the notes you say that you want to use the transfer for select invest deals not a fixed term one. The disadvantage - for me at least is that you cannot opt for monthly income in the isa, so I won’t be using until they offer that. Also it is not flexible and they charge to transfer back out. So all in all at the moment their isa is a bit of a bodge.
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Post by gramsky on Nov 15, 2021 9:39:51 GMT
This is what I was told. You apply as if you were going to invest in one of their isa fixed term deals but in the notes you say that you want to use the transfer for select invest deals not a fixed term one. The disadvantage - for me at least is that you cannot opt for monthly income in the isa, so I won’t be using until they offer that. Also it is not flexible and they charge to transfer back out. So all in all at the moment their isa is a bit of a bodge. Do we know how much to transfer out?
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oldtimer
Member of DD Central
Posts: 211
Likes: 156
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Post by oldtimer on Nov 15, 2021 9:47:11 GMT
Transfer out fee is £35
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Post by gramsky on Dec 5, 2021 11:33:49 GMT
This is what I was told. You apply as if you were going to invest in one of their isa fixed term deals but in the notes you say that you want to use the transfer for select invest deals not a fixed term one. The disadvantage - for me at least is that you cannot opt for monthly income in the isa, so I won’t be using until they offer that. Also it is not flexible and they charge to transfer back out. So all in all at the moment their isa is a bit of a bodge. Has anyone tried this yet. Are you able to transfer in from another ISA and buy & sell in select invest? I find it strange that Kuflink don't keep us up to date by email on these developments.
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Post by overthehill on Dec 5, 2021 14:09:55 GMT
This is what I was told. You apply as if you were going to invest in one of their isa fixed term deals but in the notes you say that you want to use the transfer for select invest deals not a fixed term one. The disadvantage - for me at least is that you cannot opt for monthly income in the isa, so I won’t be using until they offer that. Also it is not flexible and they charge to transfer back out. So all in all at the moment their isa is a bit of a bodge. Has anyone tried this yet. Are you able to transfer in from another ISA and buy & sell in select invest? I find it strange that Kuflink don't keep us up to date by email on these developments.
As I said previously I'm not wasting any time if Kuflink can't bothered communicating important conditions of investment. I'm sure many investors have transferred in ISAs only to find they can only use the funds for Auto-Invest. The line below is still in their T&C's so I'm assuming it is the status quo.
"Investors are not permitted to transfer an existing ISA into a Select Invest IF-ISA Eligible deal. "
I don't understand the numerous companies that have the blind oversight and lax attitude to getting an IFISA setup properly without all these restrictions and conditions (or no IFISA at all which is worse). IFISAs are key to investor and investment growth and not just because of tax status. You're basically opening the door for someone to invest 20k a year in your company. And is it really that much more work to make it flexible because that has put me off investing in a few companies. The restriction at Kuflink is a complete mystery to me and totally unique in my experience.
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Post by Ace on Dec 10, 2021 15:23:10 GMT
I'm not sure what this means or if it is live yet. Not received any communication and I'm not wasting time trying to figure it out in my account !
"Kuflink has released an ISA wallet to separate lenders’ ISA allowance for the current and previous tax years and allow them to invest directly into ISA eligible deals."
I've asked Kuflink via email. Will report back when/if they reply. I received the following reply from Kuflink today, with an apology for the delay:
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Post by overthehill on Dec 11, 2021 9:14:33 GMT
I've asked Kuflink via email. Will report back when/if they reply. I received the following reply from Kuflink today, with an apology for the delay: This has got so tedious now that I'm still none the wiser. Haven't we been able to transfer in current year ISA funds for some time and invest in Self Select ? Their recent blog doesn't make a simple english unequivocal statement almost as if to say there has never been problem.
So can we now transfer in previous year's ISA funds and invest in Self Select ?
"Choose which deal to invest your IF-ISA in! We now allow you to choose any Select-Invest deal in which to put your IF-ISA investments - potentially earning you even better returns.* "
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Post by gramsky on Dec 11, 2021 16:42:57 GMT
I've asked Kuflink via email. Will report back when/if they reply. I received the following reply from Kuflink today, with an apology for the delay: From whom at Kuflink did this email come from? I spoke with Lisa about this some months ago now and was told the opposite. It is about time Kuflink officially confirmed what the situation is,
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Post by Ace on Dec 11, 2021 17:50:43 GMT
I received the following reply from Kuflink today, with an apology for the delay: From whom at Kuflink did this email come from? I spoke with Lisa about this some months ago now and was told the opposite. It is about time Kuflink officially confirmed what the situation is, The email was from Lisa.
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Post by gramsky on Dec 13, 2021 20:10:28 GMT
So from what we understand so far we can now buy loans on the secondary market in the ISA. Is anyone actually doing this? And if so, do they know if you can buy your own loans from your standard (non-ISA) account if made available for sale?
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Post by overthehill on Dec 14, 2021 17:22:32 GMT
Until I see an official statement to the contrary it's a NO to use previous years' and possibly current year ISA transfer IN funds to invest in self-select or secondary market purchases (if they exist, haven't looked). I'm not transferring in any ISA at the moment
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Post by kuflink on Dec 15, 2021 16:41:25 GMT
Hello, we can confirm that you ARE able to transfer in previous years ISAs into our Select Invest deals.
We are also working on the Secondary market (being able to purchase from here with previous years ISAs) but this is not live as yet. Watch this space... Coming soon.
We hope that answers the question here but as we always say, please do not hesitate to pick the phone up to us, we will happily help you.
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oldtimer
Member of DD Central
Posts: 211
Likes: 156
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Post by oldtimer on Dec 15, 2021 16:58:33 GMT
Hello, we can confirm that you ARE able to transfer in previous years ISAs into our Select Invest deals. We are also working on the Secondary market (being able to purchase from here with previous years ISAs) but this is not live as yet. Watch this space... Coming soon. We hope that answers the question here but as we always say, please do not hesitate to pick the phone up to us, we will happily help you. As I understand it you are not able to select monthly payments on select invest when using an isa.
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