david42
Member of DD Central
Posts: 419 
Likes: 346
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Post by david42 on Apr 28, 2017 20:45:36 GMT
I have a couple of queries regarding the ISA. I have a maturing ISA which I am looking to transfer into P2P, the balance of which is around £70k. Rather than placing this in one lump sum into the presently available loan I would prefer to diversify it in chunks across multiple loans. I have two primary concerns. Firstly, it may take considerable time to achieve such diversification, especially if I am choosy about loans, with the added annoyance that any unemployed funds, whilst not earning interest, will still be attracting management charges. Secondly, the terms state " Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds". Am I therefore being encouraged to invest the full sum regardless of my preferences or in the interests of said diversification and as such how long is "temporarily"? Has anyone asked these questions before and if not I would be grateful for a response from charles . Thank you  The Property Crowd ISA is a flexible ISA. So you can remove spare cash while it is not invested in loans to avoid paying fees on it. With a flexible ISA, as long as you return the cash by 5th April it does not count as a withdrawal.
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madpierre
Member of DD Central
Posts: 303
Likes: 374
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Post by madpierre on Apr 29, 2017 8:39:10 GMT
I have a couple of queries regarding the ISA. I have a maturing ISA which I am looking to transfer into P2P, the balance of which is around £70k. Rather than placing this in one lump sum into the presently available loan I would prefer to diversify it in chunks across multiple loans. I have two primary concerns. Firstly, it may take considerable time to achieve such diversification, especially if I am choosy about loans, with the added annoyance that any unemployed funds, whilst not earning interest, will still be attracting management charges. Secondly, the terms state " Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds". Am I therefore being encouraged to invest the full sum regardless of my preferences or in the interests of said diversification and as such how long is "temporarily"? Has anyone asked these questions before and if not I would be grateful for a response from charles . Thank you The Property Crowd ISA is a flexible ISA. So you can remove spare cash while it is not invested in loans to avoid paying fees on it. With a flexible ISA, as long as you return the cash by 5th April it does not count as a withdrawal. That's very helpful, thank you
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mike
Member of DD Central
Posts: 187
Likes: 121
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Post by mike on Apr 29, 2017 10:03:17 GMT
The Property Crowd ISA is a flexible ISA. So you can remove spare cash while it is not invested in loans to avoid paying fees on it. With a flexible ISA, as long as you return the cash by 5th April it does not count as a withdrawal. That's very helpful, thank you Can cash be held temporarily at the end of the tax year to maintain it inside the ISA wrapper? I hope so!
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