ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,318 
Likes: 11,525
|
Post by ilmoro on Mar 16, 2017 16:51:05 GMT
Oddly enough, my email address has been autofilled but nothing else. As for the loan page, cant say it makes a lot of sense. Filters seem to give all sorts of weird results and its unclear what is current and what isnt, apart from 14 loans having availability. Stunt planes! ablrate why havent you got any loans on stunt planes? Definately the coolest security.  lol... funny you should mention that.... when I was shooting ablrate andy out of the sky  ... we did try a pitch... Wel something with guns would be even better, nice WWII replica/rebuild, failing that any plane will do. Ablrate loan book is starting to look like an episode of Rock Family Trees with a large percentage connected in some way There is one director who is the Ablrate equivalent of Dave Grohl, played with most of the loans on the platform, One by One, except didnt Learn to Fly the planes or hook up with The (Danish) Pretender
|
|
|
|
Post by charles on Mar 16, 2017 17:32:38 GMT
Welcome. Crikey, its like Tigger just joined, bouncing around the threads. Think you've just challenged charles @ PC for enthusiatic engagement with forums. Anyway, Ive promoted you to the main IFISA list. Somebody else will have to do detailed research as I wont pass the ID criteria. Well, they say imitation is the highest form of flattery... 
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Mar 18, 2017 7:54:48 GMT
I would be useful to hear a few reviews from investors that have used an IFSA this tax year:
- Which platform
- Reasons +ve and -ve for choosing
- Rates achieving
Also, if you haven't invested in IFSA
- Are you still going to use your ISA allowance elsewhere - if so, where and how
- What haven't you found in the current an IFSA that would be needed for you to invest
From the platform reps
- Not just the sales pitch, but a comprehensive picture including the negatives too - maybe eg. deal flow, rate, fees, minimum investment, SM etc
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Mar 18, 2017 9:35:12 GMT
I can't see any downside to leaving it to (nearly) the last minute and if what I want has not appeared then sticking the max into an easy access cash ISA at nearly zero % just to keep the tax wrapper, then transferring to an IFISA when a suitable one is available. Am I missing anything?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Mar 18, 2017 10:14:42 GMT
I can't see any downside to leaving it to (nearly) the last minute and if what I want has not appeared then sticking the max into an easy access cash ISA at nearly zero % just to keep the tax wrapper, then transferring to an IFISA when a suitable one is available. Am I missing anything? I will likely be doing this too However, with approaching this years allowance deadline, I was wondering experience of current IFISA's, hence my questions The downside I would see are - the ever increasing amounts needed to preserve the allowance if doing this for more than a year - if not new money, then - selling - ability to sell within your time period - selling costs (if any)
- reinvesting - availability
- buying costs (if any)
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Mar 18, 2017 14:02:56 GMT
I cannot see that a fee can be justified once the mainstream platforms are able to launch. IIRC, FC already announced they would have no additional fees for IFISA accounts. I guess a multi-platform aggregator may be able to command a small fee for convenience, but anything over 0.25% is a liberty.
|
|
|
|
Post by onion12 on Mar 18, 2017 14:20:16 GMT
I cannot see that a fee can be justified once the mainstream platforms are able to launch. IIRC, FC already announced they would have no additional fees for IFISA accounts. I guess a multi-platform aggregator may be able to command a small fee for convenience, but anything over 0.25% is a liberty. I agree with you 100% the fees that are being charged are way over the top I was tempted with property crowd until I noticed the fee how can they justify it well IMO they can't 0.25 maybe 0.45 that would match a s&s isa with HL who are top end charges taking a liberty that is a very sweet word stevet mine would be a tad stronger
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Mar 18, 2017 15:06:17 GMT
Are the fees purely for the IFISA or also for normal accounts on their platform?
|
|
|
|
Post by onion12 on Mar 18, 2017 15:16:37 GMT
Are the fees purely for the IFISA or also for normal accounts on their platform? My understanding is there are no fees unless stated in the deal outside ifisa but if in ifisa there are fees
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Mar 18, 2017 15:43:19 GMT
Are the fees purely for the IFISA or also for normal accounts on their platform? My understanding is there are no fees unless stated in the deal outside ifisa but if in ifisa there are fees The fees are 1% + VAT(1.2%) on PC, seems very high. If you earn 8% after defaults and cashdrag, that will be reduced to 6.8%. Is the risk worth it?
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Mar 18, 2017 16:04:11 GMT
I can't see any downside to leaving it to (nearly) the last minute and if what I want has not appeared then sticking the max into an easy access cash ISA at nearly zero % just to keep the tax wrapper, then transferring to an IFISA when a suitable one is available. Am I missing anything? I might have to do this too. Might put it into HNW and get into 6 loans. IDK 
|
|
|
|
Post by charles on Mar 18, 2017 16:09:39 GMT
I cannot see that a fee can be justified once the mainstream platforms are able to launch. IIRC, FC already announced they would have no additional fees for IFISA accounts. I guess a multi-platform aggregator may be able to command a small fee for convenience, but anything over 0.25% is a liberty. I agree with you 100% the fees that are being charged are way over the top I was tempted with property crowd until I noticed the fee how can they justify it well IMO they can't 0.25 maybe 0.45 that would match a s&s isa with HL who are top end charges taking a liberty that is a very sweet word stevet mine would be a tad stronger Hi onion12, stevio, SteveT please see my response to the issue of IFISA fees here --> p2pindependentforum.com/post/176285/threadWe are continuing to negotiate and explore alternatives to help bring the costs down, but we certainly aren't making a penny off these fees - we're simply trying to provide investors a tax-free ISA option when they invest in one of our double-digit yield debt deals. Regards, Charles
|
|
mason
Member of DD Central
Posts: 666
Likes: 641
|
Post by mason on Mar 18, 2017 18:04:53 GMT
What I find confusing is that there is no cap on fees. If a platform has a high minimum investment amount then it'll have far fewer lenders and so there should be massively reduced support, etc costs compared to, say, ZOPA but that doesn't seems to be happening so far. Either way I find it impossible to believe that with say two lenders, one lending double the amount of the other, is it really twice as costly just because one gets £20 of every loan and the other gets £10. Don't they have computers for this kind of thing? The actual cost of setting up and managing the ISA is likely to be independent of the amount invested within it. Some providers like to cross-subsidise smaller investors to varying degrees. No doubt, we'll see a mixture of fee structures (including no fees) just like we do for S&S ISAs.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,318
Likes: 11,525
|
Post by ilmoro on Mar 20, 2017 14:34:00 GMT
HMRC has posted latest list of authorised ISA managers revealling several new IFISA authorisations
Notable points: Peerfunding & Folk2Folk now have ISA manager status
Madison who operate Madison LendLoanInvest now fully authorised P2P and ISA manager
Sapia Partners from whom Goji & Intro Crowd have AR status now ISA manager
Formax Credit, whom I never heard of but actually look an interest SME play, (authorised for 2 years!) now ISA manager status
Odd one is Arch Over Ltd which looks like its Archover but Archover still only has IP as far as I can see.
No sign of any IFISA for any of these yet.
Edit Transcendent Real Estate, again never heard of it, commercial property equity and down the road from Broadoak.
|
|
Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
|
Post by Neil_P2PBlog on Mar 20, 2017 14:38:59 GMT
Started to have a look at formax, but need to learn Mandarin first!
|
|
... we did try a pitch...
