ashtondav
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Post by ashtondav on Jul 8, 2017 9:30:42 GMT
i am considering making a large partial transfer c>£100k from a S&S ISAprovider.
if I do transfer £100k I assume my current provider will transfer in one lump sum as it is invested in a single investment trust.
so, is it possible for me to control the diversification or will my £100k simply be lent out in 100 £1,000 loans ( or 200 £500 loans, or whatever). I would prefer to lend in chunks of £200, realising of course the extra time it would take to invest.
thanks for any help.
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Post by wiseclerk on Jul 8, 2017 18:01:35 GMT
Don't know if this helps, but as the title was "diversification, I thought I mention it. If you transfer to a platform with a flexible IFISA then you can take parts out and allocate/invest them on other platforms over the year (of course not tax sheltered then). So you could then drip feed to Zopa and other platforms. Just remember to return the money in time by next April. Flexible IFISAs: www.p2p-banking.com/compare-ifisa-offers-p2p-lending-marketplaces-database/?fwp_ifisamore=flexibleA much better solution is to do partial transfers if your S&S ISA provider allows that. |
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ashtondav
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Post by ashtondav on Jul 10, 2017 7:25:43 GMT
Partial transfers not feasible, so it looks like Zopa would give me 100 thousand pound loans by default. I'll give them a ring.
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easylender
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Post by easylender on Jul 10, 2017 14:12:25 GMT
I didn't think Zopa had enabled transfers in yet.
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rambler
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Post by rambler on Jul 22, 2017 14:37:22 GMT
If Zopa allowed you to transfer in ISA money and leave it in your ISA holding account this would solve the problem.
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Post by misotu on Jul 22, 2017 15:05:49 GMT
I think the difficulty with the holding account would be ending up with transferred-in ISA funds reclassified as "new" money losing their ISA status  Otherwise, yes, it would work. I suppose the last thing Zopa want is really large sums being put in the queue at £10 a pop, because they anticipate that people will get extremely frustrated with lending speed. There must be a better system than the one we have though. Right now I'm having to check every single day to top up the fund so it never exceeds 1999 total waiting to be matched, which I don't mind but it does get tedious when the site won't let me log on! |
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aju
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Post by aju on Jul 22, 2017 23:37:35 GMT
Me too, i messed up last week and got a bit too impatient adding a £1000 in too soon before the existing matching queue had gone below £1000, luckily I spotted it before it had lent too many at £20 and had to move the money back to holding to reset the lend rate. I thought it was going to get stuck in waiting for days but luckily it started lending again in about 12 hours.
I think the speeds of lending are up a down quite a bit over any given month cycle. When everyone sells their loans though could be a good time. Also there will be a lot of safeguards coming on stream in the ISA as well w both have over £250 each of safeguards in the ISA so far.
I agree on the option to lend certain amounts in addition to the auto end from holding. I see to remember in the distant past we used to be able to send defined amounts to a given product.
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Otherwise, yes, it would work.