The Innovative Finance ISA Mega-Thread

masonic

bigadaj wrote: »

Assume hl are consistent with their equity option then their charges would be 0.45% per year on the sum invested, and say I wanted to split my ifisa allowance between say Savingstream, Ablrate and Moneything then I'd be reasonably happy paying that level of fee given the return on the invested amount would be in the region of 10-12%.

Now you're talking. Where do I sign up?

bigadaj wrote: »

Fair point but it is dependent on the percentage of your wealth you are looking to invest in p2p in actual cash and percentage terms. Two full years allowance for an isa, so £30k and assuming £300k total investable assets, a 10% allocation to p2p.

This amount on one platform, or even two, would be concerning in my opinion which is why a platform with the opportunity to split between 4 or more providers would be very attractive.

Fortunately for me I only have about £5k in each platform and I'm happy to leave one of my five outside of an ISA to absorb some PSA.

Rich2808

masonic wrote: »

Incorrect on at least one count. Assetz is still waiting on the FCA and has not yet launched an Iffy ISA, much to my disappointment
.

I think that list is taken from a Daily Mirror article from last week. I hadn't heard of any of them to be honest,

The Abundance product is apparently a green Iffy isa - good marketing tool for green investors!!.

http://www.energylivenews.com/2016/04/06/uks-first-innovative-finance-green-isa-launched/

nushnush

Froggitt wrote: »

Can I

a) put £15k into one IFISA and
b) transfer a £15k previous year's cash ISA into another IFISA?

a yes
b yes

thats pretty much what i am planning to do, im just waiting for my preferred platforms to offer IFISA's

nushnush

Rich2808 wrote: »

I think that list is taken from a Daily Mirror article from last week. I hadn't heard of any of them to be honest,

The Abundance product is apparently a green Iffy isa - good marketing tool for green investors!!.

still incorrect though, assetz is one i am waiting for

nushnush

bigadaj wrote: »

Fair point but it is dependent on the percentage of your wealth you are looking to invest in p2p in actual cash and percentage terms. Two full years allowance for an isa, so £30k and assuming £300k total investable assets, a 10% allocation to p2p.

This amount on one platform, or even two, would be concerning in my opinion which is why a platform with the opportunity to split between 4 or more providers would be very attractive.

i believe if you are transferring previous years isa's then you can split it down as much as you want, so 4 or 5 IFISA's would be possoble

bigadaj

nushnush wrote: »

i believe if you are transferring previous years isa's then you can split it down as much as you want, so 4 or 5 IFISA's would be possoble

I believe you are right in terms of the legislation allowing that but I'm not sure if the providers will do it under their own isa conventions.

masonic

bigadaj wrote: »

I believe you are right in terms of the legislation allowing that but I'm not sure if the providers will do it under their own isa conventions.

This has been covered elsewhere. If there is any difficulty doing a partial transfer of previous year subscriptions from a cash ISA (or S&S ISA) directly to an IF ISA, simply do the partial transfer to an intermediate cash ISA. Going from S&S ISA to IF ISA partially is the only one that's likely to be a real problem, because some S&S ISA providers will not action partial transfers out.

vmp

Already have a small amount of money in Zopa and RateSetter. Would love to invest the full amount in a P2P ISA but unfortunately I'm just not brave enough to do so. :eek:

Does anyone have a large amount of money in P2P? If so, how do you feel about the risk?

Froggitt

vmp wrote: »

Already have a small amount of money in Zopa and RateSetter.

I'm exactly the same. As they both have the provision fund, I'm OK with investing this years ISA. Only had a couple of defaults with Zopa, all paid up from the provision fund on time.

Yes I know I could get better rates elsewhere, but in today's uncertain world, I don't want the risk profile of no provision/SME lending/risky borrowers.

colsten

Monevator today has a new article on iffy ISAs: http://monevator.com/innovative-finance-isa/

There was also one in the Telegraph earlier but they seem to have pulled it now.