HL Slow / Busy This Year

molerat

Last year HL received UFPLS application 7 Mar, cash in bank 15 Mar, previous years similar timescale.

This year received application 7 Mar, received e-mail today, 20th Mar, "We will now process your application"

Albermarle

molerat said:

Last year HL received UFPLS application 7 Mar, cash in bank 15 Mar, previous years similar timescale.

This year received application 7 Mar, received e-mail today, 20th Mar, "We will now process your application"

Maybe because the new owners have cut back on resources?

FIREDreamer

Albermarle said:

molerat said:

Last year HL received UFPLS application 7 Mar, cash in bank 15 Mar, previous years similar timescale.

This year received application 7 Mar, received e-mail today, 20th Mar, "We will now process your application"

Maybe because the new owners have cut back on resources?

Though the company doesn’t delist and go private until March 25th.

Not a good start then. 😮

Hoenir

7th March last year was a Thursday

7th March this year was a Friday

Easily lose two days for the non working weekend. 

Nor do you say the time of day you made the request. Every hour matters. 

molerat

Nor do you say the time of day you made the request. Every hour matters. 

Not sure what time their postie delivers

dunstonh

molerat said:

Last year HL received UFPLS application 7 Mar, cash in bank 15 Mar, previous years similar timescale.

This year received application 7 Mar, received e-mail today, 20th Mar, "We will now process your application"

The volume of work will vary over the tax years. Some are busier than others.    Most slow down during the tax year end period.

DIY investors tend to be twitchy.   So, you have the Trump Slump tied in with the tax year end and its probably increased their workload. 

SVaz

Can you not do an UFPLS request via secure message?   

My Wife requested a tfls this way and it was in the bank within a few days and has today requested regular drawdown payments beginning April -   they emailed her with confirmation within 4 hours. 

molerat

SVaz said:

Can you not do an UFPLS request via secure message?   

My Wife requested a tfls this way and it was in the bank within a few days and has today requested regular drawdown payments beginning April -   they emailed her with confirmation within 4 hours. 

No.  UFPLS is paper in the post only.

DavidT67

Well if you think two weeks is slow, lucky you didn't make a request back during the prebudget, non event panic months !  HL and others were taking six weeks or more and paying compensation for the delay been over thirty days.

Silverweed

Just to give an idea of HL UFPLS turnaround at the mo, this is the timescale my partner’s was recently completed: 
Application received - 5 March
Notifed that application / payment being processed and issued - 16 March
Payment received - 19 March
Hope this helps. 

SVaz

Why would anyone use UFPLS if it’s such a faff, when flexi drawdown can all be done online and has the same result of 25% tfls and 75% taxable either in a lump or monthly?