bigfoot12
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Post by bigfoot12 on Oct 6, 2016 12:28:24 GMT
Might be embarrassing for them if it takes money away from their existing product range. I doubt it as fees seem to be much higher in P2P than most of their existing products. (Costs will be higher too.)
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Post by davee39 on Oct 6, 2016 12:36:24 GMT
They are currently paying zero on cash accounts. I have seen reports that loans will be secured against an account holders stocks portfolio. I am expecting an instant access cash account paying between 2 and 3%.
The HL name and status should be as good as FSCS protection, so these rates will allow investors to earn a safe return on the cash part of a portfolio. As a cautious investor, with too much in RS/Zopa I would go for that.
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Post by easteregg on Oct 6, 2016 13:50:41 GMT
They are currently paying zero on cash accounts. I have seen reports that loans will be secured against an account holders stocks portfolio. I am expecting an instant access cash account paying between 2 and 3%. The HL name and status should be as good as FSCS protection, so these rates will allow investors to earn a safe return on the cash part of a portfolio. As a cautious investor, with too much in RS/Zopa I would go for that. It will be interesting to see where HL position their P2P offering. While HL is a big name then by definition they also have a bit more to loose if things do not work out, so I would except a more cautions approach. It was reported on This is Money a year ago that the platform would be ready this autumn, but it is not really a surprise that this has dragged onto 2017. HL will also need to obtain the appropriate permission from the FCA before launch, and that itself could be the gating issue.
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Post by ravado on Oct 7, 2016 16:39:28 GMT
My ISA and SIPP are with H&L. They have been very anti-PTPL in the past and have viewed it as a rival to stocks and shares (their core business). I view H&L as old school finance and suspect that their product will be a bit like the sort of PTPL that Barclays and the big banks might one day deliver!
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Post by wickedxuk on Oct 7, 2016 16:43:23 GMT
My ISA and SIPP are with H&L. They have been very anti-PTPL in the past and have viewed it as a rival to stocks and shares (their core business). I view H&L as old school finance and suspect that their product will be a bit like the sort of PTPL that Barclays and the big banks might one day deliver! PTPL?
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ilmoro
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'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 Oct 7, 2016 16:54:37 GMT
My ISA and SIPP are with H&L. They have been very anti-PTPL in the past and have viewed it as a rival to stocks and shares (their core business). I view H&L as old school finance and suspect that their product will be a bit like the sort of PTPL that Barclays and the big banks might one day deliver! PTPL? peer to peer lending i assume
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Post by wickedxuk on Oct 7, 2016 17:24:34 GMT
peer to peer lending i assume I assumed too but just wanted to check. Got some weird Google returns for that one...
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jonah
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Post by jonah on Oct 7, 2016 18:48:05 GMT
My ISA and SIPP are with H&L. They have been very anti-PTPL in the past and have viewed it as a rival to stocks and shares (their core business). I view H&L as old school finance and suspect that their product will be a bit like the sort of PTPL that Barclays and the big banks might one day deliver! I don't use HL apart from as a research tool, but would agree with the above. Suspect it could be a little BM like, in terms of packaged accounts. It does however have a strong brand and massive marketing spend, so could be a strong player if it choose.
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dermot
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Post by dermot on Oct 7, 2016 19:53:29 GMT
If they offer an IFISA, what rates would make it attractive? I'd suggest a poll, but then we'd be providing free market research to HL should they ever browse this forum ... I'd find anything North of 5% tax free interesting - particularly from a behemoth with deep pockets such as HL There is also the balance of the return against the actual mechanism of the product. I'm now looking to start moving from capital growth to no-fuss income generation; if HL launched a product that had the easy automatic monthly return of, say, RS inside an ISA wrapper, they would certainly get my attention. Of course maybe RS will actually get there first eh, westonkevRS ? |
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fp
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Post by fp on Oct 8, 2016 16:51:12 GMT
If they offer an IFISA, what rates would make it attractive? I'd suggest a poll, but then we'd be providing free market research to HL should they ever browse this forum ... I'd find anything North of 5% tax free interesting - particularly from a behemoth with deep pockets such as HL There is also the balance of the return against the actual mechanism of the product. I'm now looking to start moving from capital growth to no-fuss income generation; if HL launched a product that had the easy automatic monthly return of, say, RS inside an ISA wrapper, they would certainly get my attention. Of course maybe RS will actually get there first eh, westonkevRS ? anything north of 8% would be appealing to me, anything less and I may as well stick to what i'm doing and carry on paying 40%
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duck
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Post by duck on Jun 29, 2017 5:38:16 GMT
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archie
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Post by archie on Jun 29, 2017 6:43:38 GMT
Probably for the best. If they had chased market share it might have damaged rates for existing platforms. I do like HL for their existing products.
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savernake
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Post by savernake on Jun 29, 2017 7:02:27 GMT
They're still planning to launch a cash savings service though. This could still be of interest to me if the rates were competitive. I would expect it to have FSCS protection.
“The savings proposition is unique; we are pioneering a completely fresh way of helping people make more of their cash,” Chris Hill, chief executive of Hargreaves Lansdown, said.
I'm curious to know how this product will be 'unique' though?
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Post by Iain - Orca on Jun 29, 2017 9:03:55 GMT
It's disappointing the plans have been scrapped as we were looking forward to their offering. They have a ready made market of investors who potentially would have borrowed and lent to each other. This would have grown P2P directly without taking investors from current P2P platforms. The cash product might look similar to the Octopus Cash product launched earlier in the year: octopuscash.com/The benefit here is for individuals with more than £85k sitting in cash. Splitting across three bank providers enables FSCS coverage over the total sum of cash, £255k. I'm not sure how many people actually have over £85k sitting in cash though. |
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mikeh
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Post by mikeh on Jun 29, 2017 9:20:34 GMT
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