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Post by misotu on Jun 29, 2017 22:39:19 GMT
I seem to have acquired two Safeguard loans in my ISA Core account - bit of a surprise! Not that it's a problem.
I must have missed the information about this, if there was any published. I suppose this is how Zopa will enable people to sell their Classic Safeguard loans fee-free to transfer funds into their ISA account?
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Post by wyndstryke on Jun 30, 2017 17:54:38 GMT
I have a few too. I suspect they're actually *not* safeguard loans, probably loans purchased from other people where the loan was originally safeguard.
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Post by misotu on Jul 1, 2017 8:23:47 GMT
Yes, they are rapid returns - I have 5 now, all for amounts of less than £10. But these loans are still Safeguard loans according to my loanbook - the entry in the Safeguard column is "yes" and my loanbook summary tells me that 1.9% of my present ISA loanbook is covered by Safeguard. The difference between the borrower and lender rates is also much greater than the standard 0.7% for non-Safeguard. So I'm expecting a payout if they default!
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aju
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Post by aju on Jul 1, 2017 15:26:24 GMT
I agree about that but it would only be obvious if we could tell what the loan was at in SG.
One thing that springs to mind now that I effectively have 4 different active funds, can I get a situation where I can pickup a loan across multiple products. IE same borrower different sub part of a given loan - thus my real exposure to a default might £20 not £10.
Just wondering.
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Post by blanik on Jul 2, 2017 15:31:05 GMT
I think this kind of thing has happened before.
When pre-SG loans were sold, they were purchased by 'Classic' and kept the original interest rate, and gained SG status. So a win for the lender.
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aju
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Post by aju on Jul 2, 2017 15:54:09 GMT
I wonder how many I might get then over the next month!.
The more the merrier I say, and ISA's too. Perhaps I better fund ISAPlus as well then, bit of a shame I have my happy level for plus at the moment though ;-)
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