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Post by gramsky on Jun 6, 2021 8:07:26 GMT
If I sell a loan in my Classic account can I see the same loan for sale to buy in my ISA account?
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Post by skidrow on Jun 6, 2021 8:15:46 GMT
If I sell a loan in my Classic account can I see the same loan for sale to buy in my ISA account? Yes you can. A few seconds after you've clicked "sell" it will appear on the secondary market. I'm not sure how quickly the site refreshes but if you log off then log back on, you'd be very unlucky to be beaten on the draw. I've done this three times so I know it works.
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Post by overthehill on Jun 6, 2021 8:18:46 GMT
has never worked for me unless they have changed it recently. I don't know the rationale behind the restriction, could just be technical (software). Let us know if it does work. Might depend if the account information is identical for both, email address etc.
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Post by gramsky on Jun 6, 2021 8:22:49 GMT
has never worked for me unless they have changed it recently. I don't know the rationale behind the restriction, could just be technical (software) Did the loan sell, but was snapped up by someone else or the Autolend before you could buy it?
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morris
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Post by morris on Jun 6, 2021 17:19:37 GMT
Proplend told me you couldn't buy your own loan. Something to do with the ISA regulations I think.
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ukinvestor
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Post by ukinvestor on Jun 6, 2021 19:52:27 GMT
If I sell a loan in my Classic account can I see the same loan for sale to buy in my ISA account? Yes you can. A few seconds after you've clicked "sell" it will appear on the secondary market. I'm not sure how quickly the site refreshes but if you log off then log back on, you'd be very unlucky to be beaten on the draw. I've done this three times so I know it works. Why do you need to log off and log on?
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ukinvestor
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Post by ukinvestor on Jun 6, 2021 19:58:39 GMT
Proplend told me you couldn't buy your own loan. Something to do with the ISA regulations I think. That sounds like an overly narrow interpretation of the ISA regulation, which says you can only transfer cash between ISA providers. So they make you sell it first and then you can transfer the cash from your regular account to your ISA account
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corto
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one-syllabistic
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Post by corto on Jun 6, 2021 20:49:16 GMT
Afaik, it's considered tax fraud to sell to oneself at a discount in an ISA and claim the "loss". I think it's generally prohibited even though some providers allowed it in the past and Proplend doesn't support discounts anyway (does it?)
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Post by skidrow on Jun 6, 2021 21:11:29 GMT
Yes you can. A few seconds after you've clicked "sell" it will appear on the secondary market. I'm not sure how quickly the site refreshes but if you log off then log back on, you'd be very unlucky to be beaten on the draw. I've done this three times so I know it works. Why do you need to log off and log on? You don't. I was only making the point that I don't know how quickly the page refreshes. When I've sold then attempted to buy into my ISA I decided not to wait for the refresh. Logging out saves me twiddling my thumbs wondering if someone else is getting in first. It may be totally unnecessary but keeps me occupied.
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Post by overthehill on Jun 7, 2021 9:29:59 GMT
has never worked for me unless they have changed it recently. I don't know the rationale behind the restriction, could just be technical (software) Did the loan sell, but was snapped up by someone else or the Autolend before you could buy it? no, I removed it again as I couldn't see it from my other account.
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ukinvestor
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Post by ukinvestor on Jun 7, 2021 20:12:09 GMT
That also has been my experience in the past.
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