ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329 
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Post by ilmoro on Apr 16, 2017 22:00:35 GMT
I just spend like an hour trying to find the fees for www.sippclub.com/evolution-sipp-ssas/ on their website. All I could find is an info from last year on www.4thway.co.uk/candid-opinion/p2p-pension-evolution-sipp/ saying that it's 1250 + VAT = 1500. Does someone know the current fees ? (Preferably a link to the sippclub website) Once setup can you buy/sell loans via Lendy's website just like usual lenders? I vaguely remember that last year you had to call sippclub and they then had to buy a loan for you - but I might be wrong. This would not be very practical considering that some loans often disappear on the secondary market very fast. I believe sippclub is still the only pension provider for Lendy? Thank you. I assume its not the indicative £1250+VAT quoted on the SIPPclub page you link to then? (Under the box refering to it not costing you a fortune) SIPPclub is an just an introducer to pension administrators that allow P2P investments to be held in SIPP. It was Greyfriars but they stopped doing new accounts end of last year, no idea if they have ben replaced.
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stevio
Member of DD Central
Posts: 2,065
Likes: 894
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Post by stevio on Apr 16, 2017 22:09:19 GMT
I just spend like an hour trying to find the fees for www.sippclub.com/evolution-sipp-ssas/ on their website. All I could find is an info from last year on www.4thway.co.uk/candid-opinion/p2p-pension-evolution-sipp/ saying that it's 1250 + VAT = 1500. Does someone know the current fees ? (Preferably a link to the sippclub website) Once setup can you buy/sell loans via Lendy's website just like usual lenders? I vaguely remember that last year you had to call sippclub and they then had to buy a loan for you - but I might be wrong. This would not be very practical considering that some loans often disappear on the secondary market very fast. I believe sippclub is still the only pension provider for Lendy? Thank you. I assume its not the indicative £1250+VAT quoted on the SIPPclub page you link to then? (Under the box refering to it not costing you a fortune) SIPPclub is an just an introducer to pension administrators that allow P2P investments to be held in SIPP. It was Greyfriars but they stopped doing new accounts end of last year, no idea if they have ben replaced. No and doesn't seem likely too
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Post by penny on Apr 16, 2017 23:29:58 GMT
I just spend like an hour trying to find the fees for www.sippclub.com/evolution-sipp-ssas/ on their website. All I could find is an info from last year on www.4thway.co.uk/candid-opinion/p2p-pension-evolution-sipp/ saying that it's 1250 + VAT = 1500. Does someone know the current fees ? (Preferably a link to the sippclub website) Once setup can you buy/sell loans via Lendy's website just like usual lenders? I vaguely remember that last year you had to call sippclub and they then had to buy a loan for you - but I might be wrong. This would not be very practical considering that some loans often disappear on the secondary market very fast. I believe sippclub is still the only pension provider for Lendy? Thank you. I assume its not the indicative £1250+VAT quoted on the SIPPclub page you link to then? (Under the box refering to it not costing you a fortune) SIPPclub is an just an introducer to pension administrators that allow P2P investments to be held in SIPP. It was Greyfriars but they stopped doing new accounts end of last year, no idea if they have ben replaced. Ops you are right .. I oversaw the £1250+VAT. I was looking for some kind of more formal document listing prices. Thank you.
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vmail
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Post by vmail on Apr 16, 2017 23:45:27 GMT
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Post by penny on Apr 16, 2017 23:45:42 GMT
I see - so its actually not possible to invest into Lendy in a SIPP as a new sippclub/Greyfriars customer anymore.
Today a friend of mine singed up for Lendy as a lender. During the sign up process there was a checkbox saying that this is a SIPP/SAAS account.
That's why I thought it might be possible - however that checkbox might just be there for existing sippclub/Greyfriars customers.
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Post by penny on Apr 16, 2017 23:56:21 GMT
Thank you for the link. I am not sure if I understand this link correctly. What does it mean to be "not registered as an Appointed Representative" and "Do not start to do 'REGULATED' business with an AR that is no longer registered". Is that the reason why you have to confirm that you fullfill these high income / wealth criteria when you sign up with sippclub. I am a bit confused here.
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mike
Member of DD Central
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Post by mike on Apr 17, 2017 5:46:03 GMT
I have a Greyfriars SIPP with P2P investemnts. They stopped taking new funds for P2P a number of months back. So even as an existing customer I can't increase my current P2P investment.
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nick
Member of DD Central
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Post by nick on Apr 18, 2017 22:13:21 GMT
SIPPclub are only introducers/referrers (which is not a regulated activity) to SIPP/SSAS operators and do not arrange nor advise on specific investments. I assume they get remunerated by a referral fee. I used them to set-up my SIPP with Greyfrairs and they had no involvement beyond the initial introduction.
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