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Post by DenaThing on May 3, 2017 16:14:21 GMT
Hi there, Dena here... I'm really sorry to hear your daughter is struggling. Unfortunately we are bound by the rules and regulations regarding anti-money laundering measures as set out by the FCA. We do understand that various sites enforce these rules differently and can see why by comparison it can feel like a chore. In most cases our online verification system does the job, but if not and where we do ask for certification, the Post Office offers a certification scheme for £10.50. We hope this won't be too expensive or onerous for most people.
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registerme
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Post by registerme on May 3, 2017 17:25:19 GMT
MoneyThing , I realise that a) there might be nothing you can do about it, and b) that it's an invidious position to be in, but the fewer queries / concerns about the the VR there are (a la MTAT709, and many other examples on many other platforms) the easier you will find to get it away.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 3, 2017 17:37:49 GMT
I am also mindful that we have a had a bit of a drought recently which would have skewed the rate of uptake of the recent loan. Although we seem to be attracting 150 to 200 new lenders per month of which typically two-thirds go on to invest. Ed, it's good to hear 150 to 200 new lenders are signing up with MT every month. However, I'm a bit surprised that many manage to get through the ID verification checks. I talked my daughter into registering this morning. Not only has she been asked to upload copies of her passport and bank statements etc, which is fair enough, she has been asked for them to be certified by a solicitor or accountant. With two kids under 4, she simple hasn't got time or the inclination to arrange to do this or pay the certifiable fee required. A pity as she had transferred savings ready to make her first deposit. She can't be bothered with it all now. In the past I've have got a passport copy certified by my bank or building society, for free. Santander were the most obliging. EDIT: Get extra copies for future use.
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amphoria
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Post by amphoria on May 3, 2017 17:50:47 GMT
Ed, it's good to hear 150 to 200 new lenders are signing up with MT every month. However, I'm a bit surprised that many manage to get through the ID verification checks. I talked my daughter into registering this morning. Not only has she been asked to upload copies of her passport and bank statements etc, which is fair enough, she has been asked for them to be certified by a solicitor or accountant. With two kids under 4, she simple hasn't got time or the inclination to arrange to do this or pay the certifiable fee required. A pity as she had transferred savings ready to make her first deposit. She can't be bothered with it all now. In the past I've have got a passport copy certified by my bank or building society, for free. Santander were the most obliging. EDIT: Get extra copies for future use. Santander appear to have stopped doing this as I tried about a month ago. The branch told me that they were now prevented from doing this, presumably by head office. My previous bank did it free of charge a few years ago.
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rogerbu
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Post by rogerbu on May 4, 2017 8:14:03 GMT
MoneyThing Re the original question is a £3.3M loan too big for MT? If you reversed your IFISA decision this would free up substantial funds. Like many others, I wish to move P2P monies under the ISA flag at the 10-12% level (most efficient use of ISA). However there is currently little available. So I am parking this years ISA monies for the time being and not transferring any previous years yet. A few 'big' float could make an IFISA offering by MT a significant IFISA player. Effectively All this years ISA money will need to go to 1 P2P IFISA, so I need to be reasonably confident that the deal flow will be there during Tax Year 17/18 before selecting a IFISA.
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Post by MoneyThing on May 4, 2017 9:03:42 GMT
Morning,
We have taken note of lenders comments regarding an ISA and as such we will now be discussing this as a Board next week.
Kind regards,
Ed
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archie
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Post by archie on May 4, 2017 9:11:59 GMT
Morning, We have taken note of lenders comments regarding an ISA and as such we will now be discussing this as a Board next week. Kind regards, Ed I note ABL have got HMRC permission to launch an IFISA although currently there isn't one. Maybe MT could also seek permission before exploring the various options available.
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spyrogyra
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Post by spyrogyra on May 5, 2017 8:26:14 GMT
MoneyThing Re the original question is a £3.3M loan too big for MT? If you reversed your IFISA decision this would free up substantial funds. Like many others, I wish to move P2P monies under the ISA flag at the 10-12% level (most efficient use of ISA). However there is currently little available. So I am parking this years ISA monies for the time being and not transferring any previous years yet. A few 'big' float could make an IFISA offering by MT a significant IFISA player. Effectively All this years ISA money will need to go to 1 P2P IFISA, so I need to be reasonably confident that the deal flow will be there during Tax Year 17/18 before selecting a IFISA. When you say "Effectively All this years ISA money will need to go to 1 P2P IFISA", do you say this because you want to put all your previous ISAs with one IFISA or you think that a person can't have IFISAs with different providers for the different years?
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mikeh
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Post by mikeh on May 5, 2017 8:43:11 GMT
MoneyThing Re the original question is a £3.3M loan too big for MT? If you reversed your IFISA decision this would free up substantial funds. Like many others, I wish to move P2P monies under the ISA flag at the 10-12% level (most efficient use of ISA). However there is currently little available. So I am parking this years ISA monies for the time being and not transferring any previous years yet. A few 'big' float could make an IFISA offering by MT a significant IFISA player. Effectively All this years ISA money will need to go to 1 P2P IFISA, so I need to be reasonably confident that the deal flow will be there during Tax Year 17/18 before selecting a IFISA. When you say "Effectively All this years ISA money will need to go to 1 P2P IFISA", do you say this because you want to put all your previous ISAs with one IFISA or you think that a person can't have IFISAs with different providers for the different years? I think he is referring to this year's subscriptions only.
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elliotn
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Post by elliotn on May 5, 2017 8:58:43 GMT
When you say "Effectively All this years ISA money will need to go to 1 P2P IFISA", do you say this because you want to put all your previous ISAs with one IFISA or you think that a person can't have IFISAs with different providers for the different years? I think he is referring to this year's subscriptions only. Would he be able to transfer the current year's subscription into MT at later date by closing any interim Ifisa?
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littonowl
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Post by littonowl on May 5, 2017 9:27:30 GMT
I think he is referring to this year's subscriptions only. Would he be able to transfer the current year's subscription into MT at later date by closing any interim Ifisa? No, you can't open another IFISA in the current year and transfer it later on in the same year, you can only transfer from previous years IFISA's, S&S or cash ISA's. Using 'old' ISA funds it is still possible therefore to open IFISA's with several providers this year, should you wish.
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debaura
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Post by debaura on May 5, 2017 9:55:36 GMT
I will take at 12%. MT have shown me a good return.
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mikeh
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Post by mikeh on May 5, 2017 9:59:53 GMT
I think he is referring to this year's subscriptions only. Would he be able to transfer the current year's subscription into MT at later date by closing any interim Ifisa? I believe you can providing both parties allow it. The important point is that you can't have current year investments in more than one ISA of the same type at the same time.
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will
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Post by will on May 5, 2017 11:29:21 GMT
I'm fairly certain you'll get this at 12% - you'd certainly get it at 13% ( hint hint). There are a lot of people fishing around for a simple 12%+ now that the 12%ers at Lendy are drying up. Good luck
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GeorgeT
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Post by GeorgeT on May 5, 2017 14:26:27 GMT
I would be funding this quite well if it were offered at 12%.
In every case on MT, I have been unable to invest as much as I would like.
Start with say a bidding limit of £40k? You might be surprised.
There's quite a lot of money exiting other places at present.
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