rscal
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Post by rscal on Nov 22, 2022 14:30:16 GMT
I agree that it's a great step forward. If only they'd go the whole hog and make the ISA flexible. What do you mean by 'flexible'?
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Post by Ace on Nov 22, 2022 14:33:14 GMT
I agree that it's a great step forward. If only they'd go the whole hog and make the ISA flexible. What do you mean by 'flexible'? iSA flexibility. I.e. the ability to withdraw and replace funds from the ISA within the tax year without affecting your £20k yearly ISA allowance.
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rscal
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Post by rscal on Nov 24, 2022 10:01:11 GMT
What do you mean by 'flexible'? iSA flexibility. I.e. the ability to withdraw and replace funds from the ISA within the tax year without affecting your £20k yearly ISA allowance. (as the cool kids say..) "Ah. Got it!"
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firedog
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Post by firedog on Nov 24, 2022 13:03:45 GMT
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oldtimer
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Post by oldtimer on Nov 24, 2022 16:40:28 GMT
I agree that it's a great step forward. If only they'd go the whole hog and make the ISA flexible. Yes that would be the finishing touch. More good news. Have been corresponding with them over the last few days and received this this afternoon. I can confirm that our platform supports a Flexible ISA.
Our internal team will be updating the FAQ section in due course to include a topic on this feature.
Thank you for your feedback and patience on this matter.
Have a great day!
Kind Regards,
Karolina Orlowska Investor relations
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Post by Ace on Nov 24, 2022 18:29:29 GMT
Yes that would be the finishing touch. More good news. Have been corresponding with them over the last few days and received this this afternoon. I can confirm that our platform supports a Flexible ISA.
Our internal team will be updating the FAQ section in due course to include a topic on this feature.
Thank you for your feedback and patience on this matter.
Have a great day!
Kind Regards,
Karolina Orlowska Investor relationsWell done oldtimer and thanks for the info. I'd say that makes it even more difficult to choose between K and CP. As I see it, the main differences between the two now are: Average rates are still slightly higher at CP, but they seem to be on the rise at K while they are still falling at CP. There's much less cash drag on K, but CP pay an extra 2% when loans run past their expected end date. K have a secondary market, CP don't. K do seem to be continually improving their offering while CP no longer bother to make corrections and updates to their website (IMO both websites could be improved). Finding loan updates and info is very much easier on K. I'm not a fan of K's multiple tiers, interest rate differentials between the tiers are still too low for me, and many I talk to don't really understand them fully. All things considered I'm happy to lend on both. EDIT: Having made withdrawals today I should add that CP win hands down on their payment handling. Instant on CP even out of hours. Generally next working day on K.
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firedog
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Post by firedog on Nov 24, 2022 18:42:23 GMT
I've been on CrowdProperty longer (2019), but I'm leaning towards Kuflink more nowadays. A number of small advantages that you list; I like the way a Kuflink loan can redeem (as one did today), and it's back in another two properties, earning interest, within minutes. That could take days to organise in CP (and often weeks or occasionally months before it starts earning interest again).
But in the end what it comes down to is that Kuflink seem to value the retail investor more. When was the last time a CrowdProperty representative bothered to come on here? When was the last time they promptly answered an email? When was the last time they improved something for investors?
That said, like you, I still invest in both.
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Post by overthehill on Nov 24, 2022 19:44:50 GMT
Yes that would be the finishing touch. More good news. Have been corresponding with them over the last few days and received this this afternoon. I can confirm that our platform supports a Flexible ISA.
Our internal team will be updating the FAQ section in due course to include a topic on this feature.
Thank you for your feedback and patience on this matter.
Have a great day!
Kind Regards,
Karolina Orlowska Investor relations
Where's my commission Kuflink ? Has anybody tried it yet, it looks like it is in place with a new isa-previous balance but I don't want to withdraw a large amount. It certainly wasn't in place last week when I withdrew money.
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Post by Ace on Nov 24, 2022 20:19:21 GMT
More good news. Have been corresponding with them over the last few days and received this this afternoon. I can confirm that our platform supports a Flexible ISA.
Our internal team will be updating the FAQ section in due course to include a topic on this feature.
Thank you for your feedback and patience on this matter.
Have a great day!
Kind Regards,
Karolina Orlowska Investor relations
Where's my commission Kuflink ? Has anybody tried it yet, it looks like it is in place with a new isa-previous balance but I don't want to withdraw a large amount. It certainly wasn't in place last week when I withdrew money.
ISA-previous has been there for some time. It's used to hold ISA cash that's not from the current tax year, so not specific to flexibility.
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Post by overthehill on Nov 24, 2022 20:37:48 GMT
Where's my commission Kuflink ? Has anybody tried it yet, it looks like it is in place with a new isa-previous balance but I don't want to withdraw a large amount. It certainly wasn't in place last week when I withdrew money.
ISA-previous has been there for some time. It's used to hold ISA cash that's not from the current tax year, so not specific to flexibility.
Makes sense. I don't see any obvious signs that a withdrawal and re-deposit will work. I'll hang off just now.
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Post by Ace on Nov 25, 2022 0:22:33 GMT
ISA-previous has been there for some time. It's used to hold ISA cash that's not from the current tax year, so not specific to flexibility.
Makes sense. I don't see any obvious signs that a withdrawal and re-deposit will work. I'll hang off just now.
I haven't tried it, but I would expect that flexible ISA withdrawals would show up on the Wallet Transfer page. The bit where it says " Your remaining ISA allowance is £xx,xxx" for the ISA Current wallet. I.e. the number will increase when any flexible withdrawals are made, reduce when deposits are made, and reset to £20,000 on 6th April each year. At least that's how it's handled on other platforms I use. I don't have any cash in that wallet right now, but I'll test it next time I get an ISA repayment and report back if no-one else beats me to it.
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Post by Ace on Nov 27, 2022 19:11:26 GMT
They don't seem to have made much of a fuss about it but Kuflink have upped the rates on their 3 and 5 year deals. 3 year now pays up to 6.48% (was 6.1%), and the 5 year deal is now up to 8.05% (was 7%).
EDIT: See post below as I suspect the stated rates to be an exaggeration.
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Post by Ace on Nov 27, 2022 22:06:31 GMT
They don't seem to have made much of a fuss about it but Kuflink have upped the rates on their 3 and 5 year deals. 3 year now pays up to 6.48% (was 6.1%), and the 5 year deal is now up to 8.05% (was 7%). Having played with the numbers I suspect that the reason they haven't announced this is that the rates haven't changed at all, they've just found a devious way to exaggerate the actual return. I could be wrong, but the numbers seem to work out too exactly to be a coincidence. E.g. the 3 year rate is still actually an XIRR of 6.1%. They've just calculated the total 3 year compounded return and divided by 3. E.g. 1.061^3 = 1.19438 = a total 3 year return of 19.438%. 19.438%/3 = 6.48% (to 2 decimal places). Similarly the 5 year rate is still actually an XIRR of 7.0%. They've just calculated the total 5 year compounded return and divided by 5. E.g. 1.07^5 = 1.40255 = a total 5 year return of 40.255%. 40.255%/5 = 8.05% (to 2 decimal places). If I'm right I believe their claim that you can earn " up to 8.05% (compounded) gross per annum in the Auto IF-ISA Pool" is a bit far fetched to say the least. As demonstrated above, it is actually 7.0% compounded for 5 years. What do others think of this?
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morris
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Post by morris on Nov 28, 2022 7:33:17 GMT
Strangely I had an email at 17.47 last night quoting rates of 5, 6.1 and 7, while the website quotes 5, 6.48 and 8.05.
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Post by overthehill on Nov 30, 2022 14:43:47 GMT
Makes sense. I don't see any obvious signs that a withdrawal and re-deposit will work. I'll hang off just now.
I haven't tried it, but I would expect that flexible ISA withdrawals would show up on the Wallet Transfer page. The bit where it says " Your remaining ISA allowance is £xx,xxx" for the ISA Current wallet. I.e. the number will increase when any flexible withdrawals are made, reduce when deposits are made, and reset to £20,000 on 6th April each year. At least that's how it's handled on other platforms I use. I don't have any cash in that wallet right now, but I'll test it next time I get an ISA repayment and report back if no-one else beats me to it.
Withdrew some money from my ISA and it doesn't work , ISA allowance is still showing as 20k. Either the ISA isn't flexible or they haven't implemented correctly. The money came from the ISA-previous wallet not the ISA-current wallet but I don't see what difference that should make.
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