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Post by Ton ⓉⓞⓃ on Feb 29, 2016 11:56:40 GMT
An odd article. Lending Works seems to be implying it has made a great discovery in this 'ambiguity' which is just the standard ISA rules that have been in operation for a while and will now apply to IFISA. Generally, from what has been said/published by HMRC already, IFISA will operate exactly the same as all other ISA, the only uncertainty is whether existing non-ISA P2P investments will be transferable into an ISA without having to be realised into cash first, so called 'bed & ISA' To me this reads slightly like an infomercial, I think LW might just be wanting their name in search results with the word ISA,IFISA.
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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 Feb 29, 2016 12:00:42 GMT
An odd article. Lending Works seems to be implying it has made a great discovery in this 'ambiguity' which is just the standard ISA rules that have been in operation for a while and will now apply to IFISA. Generally, from what has been said/published by HMRC already, IFISA will operate exactly the same as all other ISA, the only uncertainty is whether existing non-ISA P2P investments will be transferable into an ISA without having to be realised into cash first, so called 'bed & ISA' To me this reads slightly like an infomercial, I think LW might just be wanting their name in search results with the word ISA,IFISA. Indeed, Zopa pretty much got the same on the front of the Personal finance section of the Mail yesterday. I have a feeling that its going to be one of the de riguer contributions to financial journalism over the next couple of months. 
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Post by Deleted on Mar 10, 2016 10:27:37 GMT
I've been thinking about P2P ISAs and what service I will require. Over the past 18 months I notice that I go through a learning process where I understand a portal, learn where it is weak and strong and finally end up with a group of types and rates of loans that I like in each. Once that Portal cannot sustain my money in what I think of as its area of expertise I have to move my money to another Portal that has openings for my money in their area of expertise.
Bid flow, being what it is, means that this also stimulates money movements, while efficiency of lending is paramount. I tend to operate with 0.1% un-invested.
I've decided I dislike those "Managed Accounts" where all the deals I didn't like end up offering a sub-par rate (high risk, low return) and so I need an ISA provider who will allow me to jump money backward and forward between portals at no cost within hours. Having taken the advantage of exempting myself from Tax by opening an ISA I don't want to pay the proverbial 1 %, 0.5% or 0.25% for someone to "manage" my ISA account. Clearly such a portal does need to have its own income stream but lets not talk about banker's charges here.
Any ideas about who has such a vehicle and its security?
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Post by Butch Cassidy on Mar 10, 2016 10:38:24 GMT
I've been thinking about P2P ISAs and what service I will require. Over the past 18 months I notice that I go through a learning process where I understand a portal, learn where it is weak and strong and finally end up with a group of types and rates of loans that I like in each. Once that Portal cannot sustain my money in what I think of as its area of expertise I have to move my money to another Portal that has openings for my money in their area of expertise. Bid flow, being what it is, means that this also stimulates money movements, while efficiency of lending is paramount. I tend to operate with 0.1% un-invested. I've decided I dislike those "Managed Accounts" where all the deals I didn't like end up offering a sub-par rate (high risk, low return) and so I need an ISA provider who will allow me to jump money backward and forward between portals at no cost within hours. Having taken the advantage of exempting myself from Tax by opening an ISA I don't want to pay the proverbial 1 %, 0.5% or 0.25% for someone to "manage" my ISA account. Clearly such a portal does need to have its own income stream but lets not talk about banker's charges here. Any ideas about who has such a vehicle and its security? You are clearly looking for the PERFECT vehicle & whilst an admirable objective I fear it will prove rather like the perfect wife - illusive if not impossible to find!
Umbrella, non platform based ISA managers will charge a fee & platform based ISA will restrict investment choice by definition; so may only truly work for those platforms that generate large volume or diverse offerings (or preferably both) - if you do find such a golden goose please share it's location 
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Post by Deleted on Mar 10, 2016 11:43:16 GMT
You don't know my wife  More to the point if I can't find such a vehicle I'll stick with my preferred single fundsmith ISA 15% yield charging just over 1.1% rather than dig down to 10% charging nowt. You see I think P2P are going to have to up their game to get me interested and I'm prepared to pay 1% if and only if I do a fair bit more than 10% after costs and losses. |
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Post by yorkshireman on Mar 10, 2016 12:50:32 GMT
You don't know my wife More to the point if I can't find such a vehicle I'll stick with my preferred single fundsmith ISA 15% yield charging just over 1.1% rather than dig down to 10% charging nowt. You see I think P2P are going to have to up their game to get me interested and I'm prepared to pay 1% if and only if I do a fair bit more than 10% after costs and losses. How do you see the Fundsmith fund performing if we were to have another financial crisis a la 2008?
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Post by Deleted on Mar 10, 2016 13:07:35 GMT
A good bit better than most of the main shares, as he invests in the repeat business that everyone needs, the Colgates of this world so probably not that badly. I suspect we need to ask what happens if 2008 comes along and hits P2P as well as the stock market. Then I'd expect Fundsmith to outperform most P2P apart say from RS. The other question we should ask is how often P2P might generally be at risk and how often will the Stock market be. So size of fall, frequency of fall, it is all grist to the risk calculation. If Korea fires a nuclear bomb at the US and it hits Japan? Well stocks might crash but rebound as North Korea disappears in a fireball, is that an issue to either type of asset? Still feels like a Buddhist question I just read the FC email for their coming ISA. You can just tell they havn't spoken to any customers yet who actually use P2P. Certainly the lack of facts are startling. |
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Post by easteregg on Mar 11, 2016 12:52:18 GMT
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Post by chielamangus on Mar 11, 2016 15:05:36 GMT
You don't know my wife How do you know I don't? You think she tells you everything?
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Post by Deleted on Mar 11, 2016 17:01:16 GMT
I'm not sure it is that interesting, (sorry that must read a bit rude, not my intention, I hope you know what I mean) and it is part of lending works marketing campaign as far as I can see. The issue about transferring ISAs makes no point about the speed of transfer. Part of 2015 I did a transfer that took 5 months (as you can imagine I shouted from the roof tops, rang CEOs and made a fuss). The issue will be for me if they can do a transfer in a couple of hour? If not I'm not really interested.
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stevio
Member of DD Central
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P2P ISA
Mar 19, 2016 12:11:49 GMT
via mobile
Post by stevio on Mar 19, 2016 12:11:49 GMT
So what platforms are confirmed to be offering an ISA and which ones are we waiting on?
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SteveT
Member of DD Central
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Post by SteveT on Mar 19, 2016 12:43:33 GMT
So what platforms are confirmed to be offering an ISA and which ones are we waiting on? None of them are in a position to confirm a definite launch date, at least as far as I know. Plenty of them want to get going with one, but cannot until they receive full FCA and ISA Manager registration.
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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
Posts: 11,334
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P2P ISA
Mar 19, 2016 12:53:22 GMT
via mobile
Post by ilmoro on Mar 19, 2016 12:53:22 GMT
So what platforms are confirmed to be offering an ISA and which ones are we waiting on? abundance, crowdstacker, funding tree Everyone else
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jonah
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Post by jonah on Mar 26, 2016 9:01:08 GMT
www.bbc.co.uk/news/business-35881629BBC has commented. Some elements are not entirely correct imo, but this will help generate that wall of cash. It appears that the 6th of April is also the key date according to the Beeb. Whilst that would be nice, I don't currently expect that to be the case.
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Liz
Member of DD Central
Posts: 2,426
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P2P ISA
Mar 27, 2016 23:09:11 GMT
via mobile
Post by Liz on Mar 27, 2016 23:09:11 GMT
www.bbc.co.uk/news/business-35881629BBC has commented. Some elements are not entirely correct imo, but this will help generate that wall of cash. It appears that the 6th of April is also the key date according to the Beeb. Whilst that would be nice, I don't currently expect that to be the case. Agreed, we fast approaching the 6th April, so a delay looks likely.
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