stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Feb 6, 2018 15:02:14 GMT
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). Please pull your money out and leave more for the rest of us😁. Rebs, fc and FS are fab places for your money👿 As always, dyor, past performance may not be repeated in the future😂, this is not financial advice. For the avoidance of doubt, my tongue is very firmly in my cheek.
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Ukmikk
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ISA
Feb 6, 2018 16:34:42 GMT
via mobile
Post by Ukmikk on Feb 6, 2018 16:34:42 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 I'm struggling to see how this can be achieved, unless you are putting large sums into unprotected business loans, which would be painful if one defaulted, and/or carrying a massive cash balance with attendant cash drag. Unless I'm missing something?
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
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Post by stub8535 on Feb 6, 2018 18:38:00 GMT
no, you can get a lot more in - 20K in a year is definitely doable I'm struggling to see how this can be achieved, unless you are putting large sums into unprotected business loans, which would be painful if one defaulted, and/or carrying a massive cash balance with attendant cash drag. Unless I'm missing something? I am sure you will manage to work it out ukmikk.
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IFISAcava
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ISA
Feb 6, 2018 19:29:29 GMT
via mobile
Post by IFISAcava on Feb 6, 2018 19:29:29 GMT
no, you can get a lot more in - 20K in a year is definitely doable I'm struggling to see how this can be achieved, unless you are putting large sums into unprotected business loans, which would be painful if one defaulted, and/or carrying a massive cash balance with attendant cash drag. Unless I'm missing something? You do need to tolerate some cash drag whilst increasing investment totals, but what you're missing is that cash drag is proportional, so much the same % wise on higher cash balances as lower ones. If you are out to minimise the absolute amount of cash drag, then you have to tolerate tiny overall loan parts and missing many loans due to insufficient balance. Re: unprotected loans - no, the goal is larger sums into all loans, not just unprotected ones. But in any case, unprotected loans aren't unsecured, and are usually modest LTVs, so I wouldn't be too scared of them.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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ISA
Feb 7, 2018 19:02:17 GMT
via mobile
Post by Ukmikk on Feb 7, 2018 19:02:17 GMT
I'm struggling to see how this can be achieved, unless you are putting large sums into unprotected business loans, which would be painful if one defaulted, and/or carrying a massive cash balance with attendant cash drag. Unless I'm missing something? I am sure you will manage to work it out ukmikk. thanks for your vote of confidence!
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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ISA
Feb 7, 2018 19:11:38 GMT
via mobile
Post by Ukmikk on Feb 7, 2018 19:11:38 GMT
I'm struggling to see how this can be achieved, unless you are putting large sums into unprotected business loans, which would be painful if one defaulted, and/or carrying a massive cash balance with attendant cash drag. Unless I'm missing something? You do need to tolerate some cash drag whilst increasing investment totals, but what you're missing is that cash drag is proportional, so much the same % wise on higher cash balances as lower ones. If you are out to minimise the absolute amount of cash drag, then you have to tolerate tiny overall loan parts and missing many loans due to insufficient balance. Re: unprotected loans - no, the goal is larger sums into all loans, not just unprotected ones. But in any case, unprotected loans aren't unsecured, and are usually modest LTVs, so I wouldn't be too scared of them. Many thanks for your reply , interesting comments.This implies that loan parts are allocated proportional to balance held rather than the investment limits, do we know if that's the case? May I enquire what level of cash balance you have maintained to achieve your higher levels of investment allocation? Cheers.
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p2pmark
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Post by p2pmark on Feb 7, 2018 19:21:51 GMT
You do need to tolerate some cash drag whilst increasing investment totals, but what you're missing is that cash drag is proportional, so much the same % wise on higher cash balances as lower ones. If you are out to minimise the absolute amount of cash drag, then you have to tolerate tiny overall loan parts and missing many loans due to insufficient balance. Re: unprotected loans - no, the goal is larger sums into all loans, not just unprotected ones. But in any case, unprotected loans aren't unsecured, and are usually modest LTVs, so I wouldn't be too scared of them. Many thanks for your reply , interesting comments.This implies that loan parts are allocated proportional to balance held rather than the investment limits, do we know if that's the case? May I enquire what level of cash balance you have maintained to achieve your higher levels of investment allocation? Cheers. Over and above the £5 minimum, they are allocated in proportion to the minimum of balance and investment allocation.
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IFISAcava
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ISA
Feb 7, 2018 21:29:16 GMT
Post by IFISAcava on Feb 7, 2018 21:29:16 GMT
Many thanks for your reply , interesting comments.This implies that loan parts are allocated proportional to balance held rather than the investment limits, do we know if that's the case? May I enquire what level of cash balance you have maintained to achieve your higher levels of investment allocation? Cheers. Over and above the £5 minimum, they are allocated in proportion to the minimum of balance and investment allocation.Exactly. You have to keep a balance at least as high as your investment limit for the investment limit to be active.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
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Post by stub8535 on Feb 7, 2018 21:43:33 GMT
I am sure you will manage to work it out ukmikk. thanks for your vote of confidence! Fill yer boots with the £180k loan. As it repays it will be taken up with renewing loans, maybe😊. I predict plenty left on Friday morning. Several loans at Hatton Garden tomorrow but it takes time for the money to come back on some loans usually.
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