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Post by Deleted on Feb 14, 2017 6:23:31 GMT
I've been struggling to find any decent reviews of Abundance on my usual p2p sites and blogs so turning to the expertise of the forum for their thoughts.
After signing up to LW IFISA for 2016/17 I've kept some ISA allowance back in cash to transfer to other IFISA 17/18.
Abundance is catching the eye as one of the few platforms currently offering IFISA and as loan type diversification. Been keeping an eye but doesn't seem to be much coming online currently ...
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shimself
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Post by shimself on Feb 14, 2017 9:55:53 GMT
I've been struggling to find any decent reviews of Abundance on my usual p2p sites and blogs so turning to the expertise of the forum for their thoughts. After signing up to LW IFISA for 2016/17 I've kept some ISA allowance back in cash to transfer to other IFISA 17/18. Abundance is catching the eye as one of the few platforms currently offering IFISA and as loan type diversification. Been keeping an eye but doesn't seem to be much coming online currently ... They used to be called Abundance GENERATION - as in turbines and solar. Now the government subsidies have dropped (a long way) they aren't such a good investment, and it looks like they are struggling to find new opportunities. In fact at least one big supplier has gone bust for lack of new business. Note this is not installations going out of business. In terms of making the world a better place I see this as a good thing; I suspect if I were building an industrial building (or even a house) nowadays then I would have a solar roof as a matter of course. There is a secondary market, but at a helluva premium, a years worth of interest. If you found the inflation proofed offerings this might be worthwhile.
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beh
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Post by beh on Feb 14, 2017 10:18:00 GMT
Not many opportunities to invest and new projects seem to fill up very fast. The premium on the SM isn't worth the faff. Still, quality over quantity perhaps not a bad thing. Best you can do is sign up and wait for emails notifying you of upcoming projects.
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pom
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Post by pom on Feb 14, 2017 11:52:40 GMT
I like Abundance but they're not on my IFISA shortlist. Partly cos the dealflow is unclear, and sporadic at best (have nowhere near as much with them as sites I started on at the same time as I only use the PM) so not convinced how feasible it would be to get ISA money invested with them in a sensible timeframe. And partly because whilst we don't yet know what future deals will look like, most of the deals I have invested in are really long term, and I'd prefer my ISA money to be a bit more reliably liquid and flexible.
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Post by Deleted on Feb 15, 2017 5:32:20 GMT
Ok, as I suspected their opportunities seem a bit then on the ground currently. Perhaps I should hang back and see how their plan to introduce other areas of loan beyond generation works out.
I'm assuming (probably wrongly) there will be a landslide of new IFISA offerings in 17/18. I'll try to be patient!
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ben
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Post by ben on Feb 16, 2017 15:48:26 GMT
I have used them this years for my other half ISA, but if you wanted to diversify on the site itself then that is not a good strategy with not enough loans. On the site I have 90% invested in one loan, but as I only invest in what I am interested in holding I am not to bothered. The information sheet provided is usally pretty good and is pretty easy with the help of google to do a bit of basic risk assessment, this is not an area I know much about so only invest to diversify away from others asset classes.
I quite like the ease of site, the support has been pretty good when I have asked questions, although the secondary market looks like it has hefty premiums but as I never use it I do not care
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pom
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Post by pom on Feb 16, 2017 19:28:01 GMT
I'm assuming (probably wrongly) there will be a landslide of new IFISA offerings in 17/18. I'll try to be patient! A lot of us were assuming the same thing this time last year 
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ben
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Post by ben on Feb 16, 2017 20:51:15 GMT
I'm assuming (probably wrongly) there will be a landslide of new IFISA offerings in 17/18. I'll try to be patient! A lot of us were assuming the same thing this time last year true but I think LW recently launch has shown that the demand is there.
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scc
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Post by scc on Feb 17, 2017 18:46:17 GMT
I've been with them for a few years. Support is excellent, friendly and personal. They are low volume though and usually very popular. Some quite large loans have sold out very quickly recently. They reckon they'll have more loans before the ISA deadline, but they don't have that long now.
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Post by Deleted on Feb 17, 2017 18:49:08 GMT
I'm assuming (probably wrongly) there will be a landslide of new IFISA offerings in 17/18. I'll try to be patient! A lot of us were assuming the same thing this time last year Hmmmm history perhaps not on my side, I figure (again with no certainty) that they can't approve a few platforms and leave ALL the others lagging behind for an entire tax year .....
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pom
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Post by pom on Feb 17, 2017 18:55:40 GMT
A lot of us were assuming the same thing this time last year Hmmmm history perhaps not on my side, I figure (again with no certainty) that they can't approve a few platforms and leave ALL the others lagging behind for an entire tax year ..... Well in fairness at least this time last year the whole IFISA thing was still a bit theoretical...so the fact some have ACTUALLY launched is definitely an improvement !! But yeah I do feel a little smug that this time last year various people were debating where they might put their ISA cash and I just thought stuff it, will just put that lot in S&S** and wait and see for 2017-18 Probably not expecting to get a full "new money" investment for 2017-18 either, but still hopeful I might be able to do some sneaky transfers from a fixed rate/term cashISA that matures in May.... ** Having said that I do not wish to go into how my S&S ISA has (not) been performing.....
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