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  • FIRST POST
    • itm2
    • By itm2 9th Apr 18, 3:19 PM
    • 688Posts
    • 127Thanks
    itm2
    LendingWorks ISA - whether to reinvest repayments?
    • #1
    • 9th Apr 18, 3:19 PM
    LendingWorks ISA - whether to reinvest repayments? 9th Apr 18 at 3:19 PM
    I'm about to invest in an ISA with Lending Works, and need to decide whether to automatically reinvest any repayments. My question is: if I invest in the 5 year plan, does automatic reinvestment mean that I will always have funds locked away for 5 years, unless I choose to pay the early withdrawal fee?

    I was wondering what others were choosing to do with their repayments, and what the implications were for the liquidity of their investments?
Page 1
    • firestone
    • By firestone 9th Apr 18, 3:35 PM
    • 246 Posts
    • 106 Thanks
    firestone
    • #2
    • 9th Apr 18, 3:35 PM
    • #2
    • 9th Apr 18, 3:35 PM
    I'm about to invest in an ISA with Lending Works, and need to decide whether to automatically reinvest any repayments. My question is: if I invest in the 5 year plan, does automatic reinvestment mean that I will always have funds locked away for 5 years, unless I choose to pay the early withdrawal fee?

    I was wondering what others were choosing to do with their repayments, and what the implications were for the liquidity of their investments?
    Originally posted by itm2
    The repayment does not have to go in the same product so you could move it to the 3 year. Also within your account page you can set a split between 3 & 5 years i.e 100% in one or 60/40 etc or withdraw to bank
    • TheShape
    • By TheShape 9th Apr 18, 3:43 PM
    • 1,293 Posts
    • 1,103 Thanks
    TheShape
    • #3
    • 9th Apr 18, 3:43 PM
    • #3
    • 9th Apr 18, 3:43 PM
    If you choose to re-invest in the 3 or 5 year loans, your funds will be tied up in those loans for that period unless you choose to pay a fee to withdraw.

    You can choose to withdraw either interest payments or capital and interest as it's repaid. I previously had my account set to reinvest all repayments in 5 year loans but have been withdrawing all repayments for the last few months as I am reducing my p2p investments.
    • will-he-payitoff
    • By will-he-payitoff 17th Apr 18, 4:40 PM
    • 691 Posts
    • 191 Thanks
    will-he-payitoff
    • #4
    • 17th Apr 18, 4:40 PM
    • #4
    • 17th Apr 18, 4:40 PM
    I previously had my account set to reinvest all repayments in 5 year loans but have been withdrawing all repayments for the last few months as I am reducing my p2p investments.[/QUOTE]

    Any particular reason why?
    • TheShape
    • By TheShape 17th Apr 18, 7:01 PM
    • 1,293 Posts
    • 1,103 Thanks
    TheShape
    • #5
    • 17th Apr 18, 7:01 PM
    • #5
    • 17th Apr 18, 7:01 PM
    I previously had my account set to reinvest all repayments in 5 year loans but have been withdrawing all repayments for the last few months as I am reducing my p2p investments.
    Any particular reason why?
    Originally posted by will-he-payitoff
    I've got approx 9k invested with p2p lender Collateral who are currently in administration. I don't know when or if I'll have access to these funds.

    I had been intending to reduce my p2p investments to fund my Lifetime ISA but am having to reduce them further than previously planned due to to the 9k capital that is inaccessible and the loss of approx 90 pm in interest payments.
    • trevman
    • By trevman 18th Apr 18, 9:54 AM
    • 29 Posts
    • 8 Thanks
    trevman
    • #6
    • 18th Apr 18, 9:54 AM
    • #6
    • 18th Apr 18, 9:54 AM
    I've got approx 9k invested with p2p lender Collateral who are currently in administration. I don't know when or if I'll have access to these funds.
    Originally posted by TheShape
    Would you consider writing a post to document your experience and update with correspondence from the administrators? As alot of people are using P2P but there is not much coverage about what happens with administration.
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