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Post by wiseclerk on Apr 14, 2017 8:00:47 GMT
I started building a IFISA overview for P2P-Banking www.p2p-banking.com/compare-ifisa-offers-p2p-lending-marketplaces-database/I know some of the other tables (including ilmoro 's here), but I decided for a different approach, focusing on speedy selection by parameters, as I think with a fast growing number of IFISA offers a simple table won't be up to the task for long. Of course it is just a start for now and I will add more offers and - if desired - more filters. I would like your help with these questions:1) Any particular additional filters you'd want for selection? Which? 2) Do you find the filtering intuitive or is anything confusing. 3) Some marketplaces advertise only net rates (after fees and defaults), whereas most list interest rates before fees and defaults. Obviously that makes a useful side-by-side listing hard. How would you deal with that in the overview? Suggestions? 4) I want to focus on IFISA products by p2p lending marketplaces. However other products can be offered under an IFISA too. With some offers - especially bonds - I find they look much like 'traditional' finance products now sold as innovative. I find it sometimes hard to decide whether to include an offer or not. What's your view? 5) I considered adding some kind of ratings (e.g. 1 to 5 stars) but decided against it, as I think it would be vulnerable against spam or manipulation, if it allows direct user interaction. But how about this: the forum decides for a set of criteria and a jury of say 5 respected forum members 'rates' the services by these criteria every half year, and I include the rating as a filter/graphic (and link to the criteria). So that would be a transparent approach and the wealth of knowledge in this forum would be condensed into a concise but useful rating. Lastly just a comment: I looked at many webpages of marketplaces offering IFISAs over the last days and I found that on many the information/FAQs could need improvement. Sure,it is the early days and they just started, but on some even simple information like whether a transfer out is possible and does it cost anything, is hard to find or not there at all. An example for very detailed information is LendingWorks. |
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dzo
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Post by dzo on Apr 14, 2017 9:26:30 GMT
I like the filters on the right.
You should put more results on one page and put all the columns on a single row so they're easier to scan.
I noticed that if you filter for 'fee-free' Abundance gets filtered out, but I don't think their IFISA has any fees. Is this a mistake, or is there a fee I'm not aware of?
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mikeh
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Post by mikeh on Apr 14, 2017 9:32:15 GMT
Nice work
Re (4): I would like to see an indicator for true P2P loans (ie Article 36H unless that has been superseded?)
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Post by wiseclerk on Apr 14, 2017 9:44:00 GMT
I like the filters on the right. I noticed that if you filter for 'fee-free' Abundance gets filtered out, but I don't think their IFISA has any fees. Is this a mistake, or is there a fee I'm not aware of? Thank you for spotting that. Data-entry error on my side. Corrected. My reasoning was that with 8 results, it is possible to flip through pages without (much) scrolling (at least on my screen size). If I put in more results (I tried it) then there is a lot of up and down scrolling to see results and reach the filters, which I dislike. Obviously it depends on screen resolution.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 14, 2017 10:05:46 GMT
My table was started to fill a gap in the market, I always expected the 'professional P2P' types would catch up and supercede it at some point ... I note its still the only complete (TMK) list as you're missing a few and 4thway 1  Adding the link to my OP HNW transfer out fee is £75 I note, there is an SM though not entirely clear as to its availibility for IFISA or its functioning. Filter for restrictive investor class maybe. |
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Post by wiseclerk on Apr 14, 2017 10:13:57 GMT
Nice work Re (4): I would like to see an indicator for true P2P loans (ie Article 36H unless that has been superseded?) Thx. I can add a filter for 'Article 36H loans'. But how do I find which marketplaces do offer them? Is there an (official) list? did not see that criteria mentioned in the site's FAQs, but maybe I overlooked it as I was not searching for it.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 14, 2017 10:36:25 GMT
Nice work Re (4): I would like to see an indicator for true P2P loans (ie Article 36H unless that has been superseded?) Thx. I can add a filter for 'Article 36H loans'. But how do I find which marketplaces do offer them? Is there an (official) list? did not see that criteria mentioned in the site's FAQs, but maybe I overlooked it as I was not searching for it. Pure P2P lenders have to have the 'operating an electronic system in relation to lending' permission from the FCA so check permissions at the FCA register. (and I think that also defines those offering Article 36H - certainly that is a criteria referenced by HMRC for claiming loss relief) All the bond, debenture & most AR platforms (exception being those with Resolution Compliance as principal (eg Growth St) as it has the permisison) would be excluded so are there any of those considered to be 'true p2p'?
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mikeh
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Post by mikeh on Apr 14, 2017 11:09:19 GMT
Nice work Re (4): I would like to see an indicator for true P2P loans (ie Article 36H unless that has been superseded?) Thx. I can add a filter for 'Article 36H loans'. But how do I find which marketplaces do offer them? Is there an (official) list? did not see that criteria mentioned in the site's FAQs, but maybe I overlooked it as I was not searching for it. I can't find a list. As ilmoro says you have to check the FCA register for "Operating an electronic system in relation to lending" permission. The only ones I know with this permission for sure are CrowdStacker, Crowd2Fund, Landbay, LandlordInvest, Lending Crowd and Lending Works but there may well be others. Edit: +LC +CS +C2F
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mason
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Post by mason on Apr 14, 2017 11:54:56 GMT
This is a really nice summary. One additional feature that would be quite nice is to have some way of identifying the new additions to the list as it evolves.
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dzo
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Post by dzo on Apr 14, 2017 12:37:50 GMT
My reasoning was that with 8 results, it is possible to flip through pages without (much) scrolling (at least on my screen size). If I put in more results (I tried it) then there is a lot of up and down scrolling to see results and reach the filters, which I dislike. Obviously it depends on screen resolution. I suppose it's a matter of personal preference. If you have access to the CSS, you could make the filters fixed position so they're always there.
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Post by wiseclerk on Apr 14, 2017 13:43:49 GMT
My table was started to fill a gap in the market, I always expected the 'professional P2P' types would catch up and supercede it at some point ... I note its still the only complete (TMK) list as you're missing a few and 4thway 1 Your table is most useful! Thank you! Thank you for the information. I have updated that. I will add a filter for that. Probably 'No investor type restrictions' would be best, as noone would actively search for restricted offers? Or is there a usecase specifically looking only at restricted offers?
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Post by wiseclerk on Apr 14, 2017 13:52:33 GMT
Thx. I can add a filter for 'Article 36H loans'. But how do I find which marketplaces do offer them? Is there an (official) list? did not see that criteria mentioned in the site's FAQs, but maybe I overlooked it as I was not searching for it. Pure P2P lenders have to have the 'operating an electronic system in relation to lending' permission from the FCA so check permissions at the FCA register. (and I think that also defines those offering Article 36H - certainly that is a criteria referenced by HMRC for claiming loss relief) All the bond, debenture & most AR platforms (exception being those with Resolution Compliance as principal (eg Growth St) as it has the permisison) would be excluded so are there any of those considered to be 'true p2p'? I am not a UK resident/taxpayer so I have to do alot of reading to get up to speed and understand the implications. So does "true p2p" have any benefits for the investor in terms of IFISA/tax relief or any other practical benefits - or is it only knowing that they invest in 'true p2p'?
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mikeh
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Post by mikeh on Apr 14, 2017 14:59:23 GMT
Pure P2P lenders have to have the 'operating an electronic system in relation to lending' permission from the FCA so check permissions at the FCA register. (and I think that also defines those offering Article 36H - certainly that is a criteria referenced by HMRC for claiming loss relief) All the bond, debenture & most AR platforms (exception being those with Resolution Compliance as principal (eg Growth St) as it has the permisison) would be excluded so are there any of those considered to be 'true p2p'? I am not a UK resident/taxpayer so I have to do alot of reading to get up to speed and understand the implications. So does "true p2p" have any benefits for the investor in terms of IFISA/tax relief or any other practical benefits - or is it only knowing that they invest in 'true p2p'? I'm no expert on this but as I understand it the original IFISA legislation only allowed for Article 36H loans. The inclusion of Bond parts etc was an afterthought. I think all the platforms on the main board here in the forum would regard themselves as P2P lenders but only a few actually have FCA 'operating an electronic system in relation to lending' full permission and none of them have yet launched an ISA. Eventually all these platforms will need FCA approval to continue to trade. The big unknown is will they all get the above permission or will some of them be re-classified into other types of provider. At present I think P2P/Art 36H/stated permission are pretty much synonymous from a legal point of view anyway.
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Post by wiseclerk on Apr 15, 2017 6:49:33 GMT
This is a really nice summary. One additional feature that would be quite nice is to have some way of identifying the new additions to the list as it evolves. There is a notfication service attached to it. Any investor entering their email in the yellow box below the comparison will get an email, when I update or add to the list. I already offer notifcation services for several other lists on P2P-Banking and they work well.
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mason
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Post by mason on Apr 15, 2017 9:57:01 GMT
This is a really nice summary. One additional feature that would be quite nice is to have some way of identifying the new additions to the list as it evolves. There is a notfication service attached to it. Any investor entering their email in the yellow box below the comparison will get an email, when I update or add to the list. I already offer notifcation services for several other lists on P2P-Banking and they work well. Thanks, my eyes have been well trained to skim over such details when reading websites and blogs, so I missed it. Just a suggestion, but it might be nice to include a link to your privacy policy in that yellow box. I was able to find it via the main page, but it would have been convenient to jump straight there.
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