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ISA
Jan 16, 2018 16:37:21 GMT
jonno likes this
Post by GSV3MIaC on Jan 16, 2018 16:37:21 GMT
That's the main impact .. more lenders .. but also if you plan a 2nd year ISA deposit, you have to find a new home for that £20k, PLUS a home for whatever of the first year gets returned (likely half, so an extra £10k). And so on and so forth .. by year 10, should you (and Unbolted) continue, you'd be trying to get ~£100k of OLD money reinvested each year, ignoring the (presumed) increase in others chasing the same loans.
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Post by sannytwist on Jan 16, 2018 16:46:02 GMT
I disagree. I have managed to get nearly £20000 dripped in over the last 9 months so perfect ISA territory. Could really do with the tax relief. This could be possible during your first year of investment. The problem is with year two and later where repaid loans tend to keep pace with (or even overtake) new loans. I would be very surprised if you managed the same in your second year unless you started taking big chunks of the unprotected loans. How can u get £16 in average loans. My loans are typically around £5 and not more than 3 or 4 max a day even including bespoke business loans. My personal settings are at '£250' '£250' and '£50' for the auto lend. Any advice would be helpful. I doubt l can even get more than £5k or 6k per year in unbolted.
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IFISAcava
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Post by IFISAcava on Jan 16, 2018 17:34:54 GMT
I disagree. I have managed to get nearly £20000 dripped in over the last 9 months so perfect ISA territory. Could really do with the tax relief. This could be possible during your first year of investment. The problem is with year two and later where repaid loans tend to keep pace with (or even overtake) new loans. I would be very surprised if you managed the same in your second year unless you started taking big chunks of the unprotected loans. Agreed. But one years ISA contributions would tick along nicely in equilibrium.
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marka
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ISA
Jan 16, 2018 19:39:51 GMT
Post by marka on Jan 16, 2018 19:39:51 GMT
That's the main impact .. more lenders .. but also if you plan a 2nd year ISA deposit, you have to find a new home for that £20k, PLUS a home for whatever of the first year gets returned (likely half, so an extra £10k). And so on and so forth .. by year 10, should you (and Unbolted) continue, you'd be trying to get ~£100k of OLD money reinvested each year, ignoring the (presumed) increase in others chasing the same loans. Who's talking about putting all your ISA allowance into unbolted every year. If I diversify across p2p platforms then surely I would want to use a different platform for each year's IFISA. I have so far been able to maintain £6-7K in unbolted, and I would be quite happy to "ISA-fy" that in 18/19 (using any spare ISA allowance either for an S&S ISA or putting it into a cash ISA in late March 19 ready to transfer to a different IFISA a week or two later during the 19/20 tax year), and then move on to a different platform for the following year's IFISA.
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ISA
Jan 16, 2018 22:07:45 GMT
Post by GSV3MIaC on Jan 16, 2018 22:07:45 GMT
"Putting it in every year" is one obvious interpretation of 'in year two'. I agree about diversifying across platforms, but I might well point my ISAs all at whichever platform needs/benefits the tax relief most, and use 'ordinary money' elsewhere.
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ISA
Jan 16, 2018 22:22:28 GMT
via mobile
Post by beeje13 on Jan 16, 2018 22:22:28 GMT
I'd probably go with UB for an IFISA. I don't use my full ISA allowance anyway.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 17, 2018 0:26:17 GMT
Just by introducing the ifisa ubl will increase the number of accounts across which its allocations need to stretch.
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sapphire
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Post by sapphire on Feb 5, 2018 18:52:27 GMT
ashwinp I would be helpful if you are able to provide an indication of when the IFISA is expected to be launched.
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Ukmikk
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ISA
Feb 5, 2018 19:08:15 GMT
via mobile
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Post by Ukmikk on Feb 5, 2018 19:08:15 GMT
messaged unbolted today and yes they do plan to offer an isa They said the same to me nearly a year ago, so it's not a priority. I feel they would need to increase loan volumes to make it viable.
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nush
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ISA
Feb 6, 2018 1:13:04 GMT
Ukmikk likes this
Post by nush on Feb 6, 2018 1:13:04 GMT
messaged unbolted today and yes they do plan to offer an isa They said the same to me nearly a year ago, so it's not a priority. I feel they would need to increase loan volumes to make it viable. i am really wanting them to not go down the isa path now, i think even more money would go to unbolted and getting invested would be even harder, that said, if they do offer one then i would still join the stampede
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jontyab
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ISA
Feb 6, 2018 9:50:16 GMT
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Post by jontyab on Feb 6, 2018 9:50:16 GMT
As much as I like this platform, the only way I'd bother with an unbolted IFISA is if they support partial transfers in.
It'd be foolish to lock a whole years ISA allowance to a platform you can only dribble ~£25 a day in (Assuming you didn't have other ISA categories to fill).
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Ukmikk
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ISA
Feb 6, 2018 12:38:48 GMT
via mobile
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Post by Ukmikk on Feb 6, 2018 12:38:48 GMT
They said the same to me nearly a year ago, so it's not a priority. I feel they would need to increase loan volumes to make it viable. i am really wanting them to not go down the isa path now, i think even more money would go to unbolted and getting invested would be even harder, that said, if they do offer one then i would still join the stampede Agreed. I suspect they realise the problems it would bring and have held off. It's not like they need an ISA to attract more funds as there is more than enough appetite without. Shame as I guess we would all love to get a decent sum in tax free.
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IFISAcava
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ISA
Feb 6, 2018 12:53:19 GMT
Post by IFISAcava on Feb 6, 2018 12:53:19 GMT
i am really wanting them to not go down the isa path now, i think even more money would go to unbolted and getting invested would be even harder, that said, if they do offer one then i would still join the stampede Agreed. I suspect they realise the problems it would bring and have held off. It's not like they need an ISA to attract more funds as there is more than enough appetite without. Shame as I guess we would all love to get a decent sum in tax free. I think actually the competition for p2p money is hotting up (see increasing SMs on various platforms), and with other providers offering ISAs they will need to offer one too - otherwise their post tax return for higher rate tax payers will be less than virtually all other platforms with ISAs. I have got over £20K invested in 9 months, but I am reluctant to go much higher without an ISA offering as the return after 45% tax is barely 5%, and that's easily beatable in other low maintenance / low risk platforms with ISAs (who also have an early exit if needed unlike UB).
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IFISAcava
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ISA
Feb 6, 2018 12:55:04 GMT
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Post by IFISAcava on Feb 6, 2018 12:55:04 GMT
As much as I like this platform, the only way I'd bother with an unbolted IFISA is if they support partial transfers in. It'd be foolish to lock a whole years ISA allowance to a platform you can only dribble ~£25 a day in (Assuming you didn't have other ISA categories to fill). no, you can get a lot more in - 20K in a year is definitely doable
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IFISAcava
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ISA
Feb 6, 2018 12:56:55 GMT
Post by IFISAcava on Feb 6, 2018 12:56:55 GMT
They said the same to me nearly a year ago, so it's not a priority. I feel they would need to increase loan volumes to make it viable. i am really wanting them to not go down the isa path now, i think even more money would go to unbolted and getting invested would be even harder, that said, if they do offer one then i would still join the stampede I am the opposite - I really want them to offer an ISA.
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