littonowl
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Post by littonowl on Apr 28, 2017 14:32:08 GMT
Congratulations to ablrate for obtaining FCA approval to launch an IFISA, see copy of email received today: Good Morning All
I wanted you all to be the first to know that Ablrate has received the necessary authorisation from HMRC to be classed as an ISA Manager.
What this means on a practical level is that we are now able bring the Innovative Finance ISA to lenders. As you will be aware, we don't like to have armies of people doing everything in house when technology solutions are more cost effective, so we are evaluating companies that can provide the administrative and technical solutions to allow us to bring you the tax wrapper quickly.
Few things to let you know:
• Launch date: Unknown as of yet, but hopefully by the end of May 17
• Terms: We are evaluating the nuances of the Ablrate Product (suggestions welcome!)
We will keep you up to date on progress and will, of course, let you know when we have a firmer date for launch. There will also be a number of upgrades coming to the platform soon and I will let you know as they arise. We are working hard to deliver improvements in the secondary market history section and the information that can be gleaned from that (i.e. performance, breakdown of trades etc).
Onwards and upwards! I look forward to updating you on the progress of loans coming over the next week. The ones up there presently will be closed shortly, we are just awaiting final confirmations on some paperwork, but I guess that is the benefit of Instant Returns, you still earn!
All the best
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fasty
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Post by fasty on Apr 28, 2017 14:44:07 GMT
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dzo
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Post by dzo on Apr 28, 2017 16:16:02 GMT
Hopefully this will be a flexible IFISA. The deal flow on ABL is quite sedate and I wouldn't want cash sitting idle until the next loan arrives.
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mason
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Post by mason on Apr 28, 2017 18:15:43 GMT
I'd also strongly urge ablrate to offer a flexible ISA. This will be important to avoid investors having to consider (partially) transferring out (generating all the associated paperwork) if they cannot get their cash (re)invested. It will also be critically important for all those wishing to transfer in an ISA who will not be able to invest the cash immediately, but who would be able to flexibly withdraw money already ISA-wrapped and make replacement subscriptions as and when they are able to invest their funds.
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mike
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Post by mike on Apr 29, 2017 9:55:15 GMT
Other than my evaluation of a platform which I will have done through my non ISA investments a IFISA being flexible or not will be my number one criteria for deciding where I invest.
Mike
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Post by ablrate on May 2, 2017 11:00:44 GMT
I'd also strongly urge ablrate to offer a flexible ISA. This will be important to avoid investors having to consider (partially) transferring out (generating all the associated paperwork) if they cannot get their cash (re)invested. It will also be critically important for all those wishing to transfer in an ISA who will not be able to invest the cash immediately, but who would be able to flexibly withdraw money already ISA-wrapped and make replacement subscriptions as and when they are able to invest their funds. Thanks for the feedback - will keep this in mind in our discussions Regards Ablrate
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shimself
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Post by shimself on May 2, 2017 19:34:53 GMT
Are you able to give us some idea of what was involved. Did they look at business processes for example? How much did you get out ofit other than the certificate on the wall (I'm harking back to when I implemented ISO9000, which did us quite a lot of good in terms of business operations initially)
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littonowl
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Post by littonowl on Jun 12, 2017 15:26:39 GMT
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littonowl
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Likes: 355
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Post by littonowl on Jun 12, 2017 18:46:55 GMT
The Ablrate IFISA sounds pretty promising. It's going to be flexible, no additional admin costs (initially at least) and the same returns as non-ISA funds. Now if they just allow cash transfers in from historic ISA's it'll be perfect...
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macq
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Post by macq on Jun 12, 2017 19:03:53 GMT
The Ablrate IFISA sounds pretty promising. It's going to be flexible, no additional admin costs (initially at least) and the same returns as non-ISA funds. Now if they just allow cash transfers in from historic ISA's it'll be perfect... and hopefully enough loans to cover the transfers as well as the normal accounts
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Post by ablrate on Jun 15, 2017 9:45:24 GMT
We will be allowing Transfers in...
..and we are gearing up on orginination...
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littonowl
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Post by littonowl on Jun 15, 2017 9:47:09 GMT
Thanks ablrate, great news! Set to become my second IFISA, after Abundance...
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blender
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Post by blender on Jun 15, 2017 16:28:23 GMT
We will be allowing Transfers in... ..and we are gearing up on orginination... So is that why the loans advertised on the front page have not yet appeared? Or is that the lack of lender cash at present?
[Really looking forward to the ISA and hoping we do not have to set up a second account with another email address, as suggested by FC.]
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metoo
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Post by metoo on Jun 15, 2017 18:50:01 GMT
Really looking forward to the ISA and hoping we do not have to set up a second account with another email address, as suggested by FC.
The email promises the IFISA and standard account will both be available from the same log-in.
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blender
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Post by blender on Jun 15, 2017 20:20:56 GMT
Thanks, I do not receive Ablrate emails.
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