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Post by indexfund on May 16, 2021 10:53:19 GMT
Initiated an ISA transfer out four weeks ago, and I have heard nothing. Anyone else had any recent experience? Should add that the funds are going to HL who are very efficient so guessing it's LW. The funds are sitting there ready to be moved so I cannot see why there's a hold up.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 16, 2021 11:42:46 GMT
Initiated an ISA transfer out four weeks ago, and I have heard nothing. Anyone else had any recent experience? Should add that the funds are going to HL who are very efficient so guessing it's LW. The funds are sitting there ready to be moved so I cannot see why there's a hold up. Posts elsewhere suggest HL have a backlog processing applications ... so likely the issue is their end
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easylender
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Post by easylender on May 16, 2021 12:07:14 GMT
Do check that you've used LW's new Ratty's Lane address and not the old London address on the transfer form.
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Post by indexfund on May 16, 2021 13:37:05 GMT
Thanks guys, I am chasing both ends and will keep everyone posted. A fairly recent Ratesetter to HL ISA transfer was remarkably quick but maybe their workload has increased with so many pulling out of P2P.
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mogish
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Post by mogish on May 17, 2021 7:04:13 GMT
I've done a few from LW to shawbrook recently and seems to be a week max.
You can check in your wallet.. it should say pending withdrawal or similar.
Must say they seem to have raised the bar recently on CS front. Pity as it's too late, the 1.1% doesnt compete for such a massive risk.
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Post by birdie on May 17, 2021 7:24:20 GMT
I did an ISA transfer from Lending Works recently funds were in my holding account and the transfer was completed in a week.
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Post by indexfund on May 17, 2021 17:37:25 GMT
As suggested, looks like this is an HL backlog.. Hopefully it will go through soon. For once it isn't something LW have done wrong!
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Steerpike
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Post by Steerpike on May 17, 2021 18:03:08 GMT
For me, HL took 6 weeks to start "the process", 1 week later AC reported that they had the request.
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Post by oppsididitagain on May 19, 2021 10:24:24 GMT
I have move 2 lots from LW to Assetz cap. and both taken 8 working days from sending the forms to AC.
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Steerpike
Member of DD Central
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Post by Steerpike on May 20, 2021 15:37:16 GMT
For me, HL took 6 weeks to start "the process", 1 week later AC reported that they had the request. AC have turned it round in 3 working days, impressive, I wonder if Hargreaves Slowdown will take another 6 weeks.
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Post by indexfund on May 22, 2021 7:32:11 GMT
Apparently huge flows to HL following various P2P collapses, along with massive transfers from NS&i because of extremely low rates, has all seriously overloaded them. As soon as I chased them, they replied same day to say they had contacted LW....this took them four weeks! Guess those who chase go to the top of the list. In normal times this wouldn't be good enough but these are truly exceptional times, so I'm giving them some slack. Fund investments have always been my mainstay and I'm happy to patiently move monies over even if it gets frustrating!
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Post by chammers on May 22, 2021 11:36:59 GMT
Thanks guys, I am chasing both ends and will keep everyone posted. A fairly recent Ratesetter to HL ISA transfer was remarkably quick but maybe their workload has increased with so many pulling out of P2P. Having transferred loads of ISA money to HL from various P2P Companies I can categorically state that transfers when HL is involved is long & drawn out - their whole process needs serious improvement!
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Steerpike
Member of DD Central
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Post by Steerpike on May 24, 2021 10:21:39 GMT
For me, HL took 6 weeks to start "the process", 1 week later AC reported that they had the request. AC have turned it round in 3 working days, impressive, I wonder if Hargreaves Slowdown will take another 6 weeks. Pleasantly surprised, 6 weeks for HL to wake up, 1 week for them to send the transfer to AC, AC turned it round in 3 days, in my HL account 4 days later.
Perfectably acceptable apart from the initial HL delay, quite why they have been so badly impacted I don't know, particularly since they have not restored the range of services that they withdrew in March 2020.
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Post by redpete on May 29, 2021 13:52:08 GMT
Requested ISA transfer LW -> Loanpad: form submitted to Loanpad 23/5, sent to LW by Loanpad 24/5 and money in Loanpad account 27/5.
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