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Post by befuddled on Feb 5, 2020 21:09:07 GMT
So can we be totally sure once sold out the cash holding is 100% safe or could that be raided too...?
Ie I sold out entire isa. 10% being held in bad loans...
I was going to wait and transfer all in one hit, but now wondering if the 90% is save....
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Post by carol167 on Feb 5, 2020 21:19:27 GMT
So can we be totally sure once sold out the cash holding is 100% safe or could that be raided too...? Ie I sold out entire isa. 10% being held in bad loans... I was going to wait and transfer all in one hit, but now wondering if the 90% is save....
Well I would hope so. However, I suspect the trapped loans are defaulted ones and I've no idea how long before LW will use the safeguard fund to compensate. You could be in for a long wait...
Why not just send off a transfer form for the amount you know you already have available to transfer out. That will get the bulk away somewhere safe under your control. Then wait till what's left is available and do a second transfer ?
I've sent off two transfer forms today based on what has already sold (sale is about half way along currently) as I'm splitting it between my cash ISA and my S&S ISA. Will send more forms off once the sale completes for other half. Then I'll just wait for the small trapped amount to materialise at some point in the future.
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benaj
Member of DD Central
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Post by benaj on Feb 5, 2020 23:05:18 GMT
Withdrawal on available cash is quick, so I guess the platform is relatively "safe" compared to the struggle ones I have invested. Shield Contingency Fund is held in platform's TRUSTEE LIMITED
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alanh
Posts: 556
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Post by alanh on Feb 6, 2020 8:23:23 GMT
I would get any uninvested cash out ASAP. It might be safe, it might not but why take the risk? This game is all about minimising risks and this is one you can easily solve by simply filling out a transfer form.
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