bob2014
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Post by bob2014 on Aug 31, 2017 17:18:23 GMT
It would be nice if i could recycle repayments from my normal account to my IFISA. Doing this via my bank account is too much hastle.
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Post by Matthew on Sept 1, 2017 8:20:31 GMT
Morning bob2014Thanks for the feedback - agreed this must be pretty annoying. We initially planned to release this for 'go-live' but after speaking with quite a few lenders it didn't seem as important as we had expected. However, we do still plan to offer this feature and it's on the list of lender improvements which will be looked at in Q4 this year. Hope this helps. |
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bob2014
Member of DD Central
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Post by bob2014 on Sept 1, 2017 21:21:42 GMT
Many thanks, looking forward to my christmas present ;-)
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savernake
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Post by savernake on Mar 3, 2018 14:36:15 GMT
Hi MatthewIs this feature any closer to being released? |
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Post by Matthew on Mar 3, 2018 22:42:01 GMT
Hi Matthew Is this feature any closer to being released? Hi savernakeI will chase up with our Product team to see when we can get this done and released. Will keep you posted. Thanks and have a great weekend.
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savernake
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Post by savernake on Apr 28, 2018 21:46:13 GMT
Hi Matthew Have you had any response from your Product Team yet?
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Post by Matthew on Apr 30, 2018 9:27:44 GMT
Hi Matthew Have you had any response from your Product Team yet? Hi savernakeWe are still tracking the number of customer queries and feedback on this to assess where it should sit in terms of priority. Apologies I can't be more specific but of course there are many similar competing projects which we have to try to prioritise according to impact on customers and on the business. I will let you know once I have an expected date for release.
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Post by Matthew on Jul 10, 2018 12:44:51 GMT
Just to let you know guys that this is being worked on in this quarter (Q3). I will let you know a realistic release date once the work has been completed.
Thanks.
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macq
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Post by macq on Jul 10, 2018 12:57:59 GMT
Just to let you know guys that this is being worked on in this quarter (Q3). I will let you know a realistic release date once the work has been completed. Thanks. This sounds like a good idea and gives an extra option with repayments but just wondered(and apologies if i have missed it) is there a cost effective way of getting a balance from a standard account to ISA or do you have to pay the selling fee in full?As i am wondering when people sell and then reinvest could that not end up back in the same loan within minutes with just a change of fund name?
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Post by Matthew on Jul 10, 2018 13:43:17 GMT
Just to let you know guys that this is being worked on in this quarter (Q3). I will let you know a realistic release date once the work has been completed. Thanks. This sounds like a good idea and gives an extra option with repayments but just wondered(and apologies if i have missed it) is there a cost effective way of getting a balance from a standard account to ISA or do you have to pay the selling fee in full?As i am wondering when people sell and then reinvest could that not end up back in the same loan within minutes with just a change of fund name? Unfortunately the only way is to either incur the sellout fee or to wind down your Classic account as loans are repaid. It's impossible for you to end up with the same loan chunks because you'll have reassigned them to other investors already to release your funds. Thanks
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macq
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Post by macq on Jul 10, 2018 15:18:02 GMT
This sounds like a good idea and gives an extra option with repayments but just wondered(and apologies if i have missed it) is there a cost effective way of getting a balance from a standard account to ISA or do you have to pay the selling fee in full?As i am wondering when people sell and then reinvest could that not end up back in the same loan within minutes with just a change of fund name? Unfortunately the only way is to either incur the sellout fee or to wind down your Classic account as loans are repaid. It's impossible for you to end up with the same loan chunks because you'll have reassigned them to other investors already to release your funds. Thanks Fair point - but to me me there is also the point that i could sell all my loans at 6% and end up back in loans at 6% just for changing the account and no money has left LW but i could pay the same fee as someone selling and leaving LW and taking their money else where - i would assume
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Post by Matthew on Jul 10, 2018 16:09:18 GMT
Unfortunately the only way is to either incur the sellout fee or to wind down your Classic account as loans are repaid. It's impossible for you to end up with the same loan chunks because you'll have reassigned them to other investors already to release your funds. Thanks Fair point - but to me me there is also the point that i could sell all my loans at 6% and end up back in loans at 6% just for changing the account and no money has left LW but i could pay the same fee as someone selling and leaving LW and taking their money else where - i would assume Sure - there's no intention for LW to make any money from this transaction. We would be happy to waive our fee for doing this, but there may also be an interest rate penalty if the rates on the loan chunks you're selling are lower than the current lender rates. If we could migrate the same loans into your ISA, we would do this, but HMRC rules prevent us from doing so.
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macq
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Post by macq on Jul 10, 2018 16:24:29 GMT
Fair point - but to me me there is also the point that i could sell all my loans at 6% and end up back in loans at 6% just for changing the account and no money has left LW but i could pay the same fee as someone selling and leaving LW and taking their money else where - i would assume Sure - there's no intention for LW to make any money from this transaction. We would be happy to waive our fee for doing this, but there may also be an interest rate penalty if the rates on the loan chunks you're selling are lower than the current lender rates. If we could migrate the same loans into your ISA, we would do this, but HMRC rules prevent us from doing so. Not to labour the point or be awkward (but  ) if you are happy not to make a profit from a transfer across accounts and assuming no interest rate penalty is incurred does that mean you would charge no fee in that case?
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Post by Matthew on Jul 10, 2018 17:03:04 GMT
I'm sure if you ask the customer service team nicely they will try and sort that out for you  |
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macq
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Post by macq on Jul 10, 2018 17:46:22 GMT
I'm sure if you ask the customer service team nicely they will try and sort that out for you sounds good -thanks
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) if you are happy not to make a profit from a transfer across accounts and assuming no interest rate penalty is incurred does that mean you would charge no fee in that case?