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Post by charles on Mar 19, 2017 7:10:54 GMT
charles - on another tack, can your bonds be purchased via a platform held ISA eg Hargreaves Lansdowne? Hi @leopardcat, I would refer you to our FAQs: Can I transfer money held by another ISA provider to my new Property Crowd ISA? You can transfer your ISA from one provider to another, and from one kind of ISA to another (e.g. from a Cash ISA to an Innovative Finance ISA), at any time. Transfers must be made in cash, you will not be able to appoint another ISA manager to hold bonds issued on Property Crowd and you cannot transfer other investments into your Property Crowd ISA. Regards, Charles
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pom
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Post by pom on Mar 20, 2017 11:14:29 GMT
Am I the only one thinking that a min investment of anywhere between 5-6k could end up really irritating when trying to plan ISA usage? Am getting very tempted for 2017-18, but if I want to use new money I'll have to make my mind up quick before my IFA moves 10k to my S&S ISA on Apr 6th (or end up with an unusable chunk). Or it'll be transfers from my maturing cash ISA a bit later on.
I wonder also when the and how often fees will be applied? (apols if that is stated somewhere) And what happens if you end up with a negative balance because of fees due if all your PC cash is tied up in bonds and you have no allowance left?
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ianj
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Post by ianj on Mar 20, 2017 19:49:07 GMT
Am I the only one thinking that a min investment of anywhere between 5-6k could end up really irritating when trying to plan ISA usage? Am getting very tempted for 2017-18, but if I want to use new money I'll have to make my mind up quick before my IFA moves 10k to my S&S ISA on Apr 6th (or end up with an unusable chunk). Or it'll be transfers from my maturing cash ISA a bit later on. I wonder also when the and how often fees will be applied? (apols if that is stated somewhere) And what happens if you end up with a negative balance because of fees due if all your PC cash is tied up in bonds and you have no allowance left? Re fee payments, T&Cs state..... "Such pro-rata annual fee amount shall be deducted from the amount returned to your ISA upon redemption of any bonds held in your ISA" and as "Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds." .... my understanding is that a negative balance should never occur.
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littonowl
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Post by littonowl on Mar 21, 2017 11:11:44 GMT
I understand the minimum deposit into the IFISA is £5k, but what's the minimum stake per investment? Is it still £5k? If so, even presuming you still had your full ISA allowance available, you could only diversify across 3 separate investments, which seems pretty risky to me.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 21, 2017 11:22:55 GMT
I understand the minimum deposit into the IFISA is £5k, but what's the minimum stake per investment? Is it still £5k? If so, even presuming you still had your full ISA allowance available, you could only diversify across 3 separate investments, which seems pretty risky to me. About 5.5k for the two recent bonds, so you wouldnt even be able to invest in 3.
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Liz
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Post by Liz on Mar 24, 2017 23:28:24 GMT
I understand the minimum deposit into the IFISA is £5k, but what's the minimum stake per investment? Is it still £5k? If so, even presuming you still had your full ISA allowance available, you could only diversify across 3 separate investments, which seems pretty risky to me. About 5.5k for the two recent bonds, so you wouldnt even be able to invest in 3. Even worse, the other £4k is earning no interest.
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Post by charles on Mar 27, 2017 9:11:38 GMT
Dear littonowl , ilmoro & Liz Thanks for your comments. Firstly, yes our minimum investment in each deal is £5k. This is consistent with our business model, which aims to deliver institutional grade investment opportunities in real estate to a HNW Individual or Sophisticated Investor crowd. While you may not be able to achieve significant diversification within the context of a single year's ISA allowance (i.e. £15k this tax year, and £20k the next), I would point out that, for the average HNW Individual ( as defined in COBS 4.12.6 of the FCA handbook), £5k would represent but a tiny fraction of their overall portfolio, which I believe satisfies the criteria for sufficient diversification of risk. I would also point out that you could, for example, invest £7.5k each across two Property Crowd deals in this tax year, or do £5k across four different deals in the next tax year, so you do not have to leave £4k (or any sum of money, really) earning zero interest. I hope these addresses your issues and concerns. Regards, Charles |
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pom
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Post by pom on Mar 27, 2017 14:15:44 GMT
or do £5k across four different deals in the next tax year, so you do not have to leave £4k (or any sum of money, really) earning zero interest. Which would be great if we could actually invest 5k per loan, instead of more like 5.5k
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Post by charles on Mar 28, 2017 4:21:56 GMT
Dear P2P Forum-ers,
The first close of our current live bond issue will take place tomorrow.
With subscriptions of nearly £400K to date and just over a week to go before the end of the 2016/17 tax year, we expect interest to pick up materially through the tax year change, as investors will no doubt be looking to take advantage of their ISA allowances.
As a reminder, the bond offers an annualised yield of 10.2% over a 6-month term, via exposure to a senior loan secured by first charge on a build-to-rent residential development.
Furthermore, the underlying senior loan benefits from a conservative gross loan-to-value (LTV) of 52.5% against the current full market value of the existing property.
If you would like to subscribe in time for this close and start accruing yield from 29 March, you will need to ensure that cleared funds are received by our Custodian by no later than 3pm tomorrow.
As always, please consider your investment carefully, but act quickly. Happy investing!
Kind regards
Charles
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 11, 2017 12:21:13 GMT
IFISA fees reduced to 0.95% incl VAT, retrospective for existing investors.
Transfers in appear to be available now
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SteveT
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Post by SteveT on Apr 11, 2017 12:33:38 GMT
IFISA fees reduced to 0.95% incl VAT, retrospective for existing investors. Transfers in appear to be available now That's a bit more like it. Property Crowd rises to the top of my current "IFISA musings" league, but I will wait to see what the likes of FS / MT / ABL bring to market before committing (who knows, maybe LfSS will get there one day). Will want to see a few more deals coming through too.
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Post by charles on Apr 11, 2017 13:35:08 GMT
Dear fellow P2P Forum members,
Since we introduced the Property Crowd ISA last month - enabling our investors to hold high yielding, asset-backed bonds in a tax-free ISA - we have received a surge of interest and the response has been most encouraging.
We would like to confirm that our ISA admin fees have now been finalised and we are delighted to announce that the charges will be less than originally advised at 0.95% per annum with no additional charge for transferring in an ISA from your existing provider.
Furthermore, we can confirm that those investors who made an investment through their Property Crowd ISA last month will also enjoy this reduced fee from inception.
You can transfer your existing cash, stocks and shares, or Innovative Finance ISA to a new Property Crowd ISA. If you wish to start this process, please contact us for further details.
Keep in mind that the annual ISA allowance increased to £20,000 on 6 April and you are free to increase your allocation in our current offer using this year’s allowance.
With weekly closes every Wednesday, your money gets put to work without undue delay.
As always, please consider your investment carefully, but act quickly. Happy investing!
Kind regards,
Charles
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madpierre
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Post by madpierre on Apr 28, 2017 8:11:53 GMT
I have a couple of queries regarding the ISA. I have a maturing ISA which I am looking to transfer into P2P, the balance of which is around £70k. Rather than placing this in one lump sum into the presently available loan I would prefer to diversify it in chunks across multiple loans. I have two primary concerns. Firstly, it may take considerable time to achieve such diversification, especially if I am choosy about loans, with the added annoyance that any unemployed funds, whilst not earning interest, will still be attracting management charges. Secondly, the terms state " Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds". Am I therefore being encouraged to invest the full sum regardless of my preferences or in the interests of said diversification and as such how long is "temporarily"? Has anyone asked these questions before and if not I would be grateful for a response from charles . Thank you  |
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david42
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Post by david42 on Apr 28, 2017 20:45:36 GMT
I have a couple of queries regarding the ISA. I have a maturing ISA which I am looking to transfer into P2P, the balance of which is around £70k. Rather than placing this in one lump sum into the presently available loan I would prefer to diversify it in chunks across multiple loans. I have two primary concerns. Firstly, it may take considerable time to achieve such diversification, especially if I am choosy about loans, with the added annoyance that any unemployed funds, whilst not earning interest, will still be attracting management charges. Secondly, the terms state " Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds". Am I therefore being encouraged to invest the full sum regardless of my preferences or in the interests of said diversification and as such how long is "temporarily"? Has anyone asked these questions before and if not I would be grateful for a response from charles . Thank you The Property Crowd ISA is a flexible ISA. So you can remove spare cash while it is not invested in loans to avoid paying fees on it. With a flexible ISA, as long as you return the cash by 5th April it does not count as a withdrawal.
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madpierre
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Post by madpierre on Apr 29, 2017 8:39:10 GMT
I have a couple of queries regarding the ISA. I have a maturing ISA which I am looking to transfer into P2P, the balance of which is around £70k. Rather than placing this in one lump sum into the presently available loan I would prefer to diversify it in chunks across multiple loans. I have two primary concerns. Firstly, it may take considerable time to achieve such diversification, especially if I am choosy about loans, with the added annoyance that any unemployed funds, whilst not earning interest, will still be attracting management charges. Secondly, the terms state " Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds". Am I therefore being encouraged to invest the full sum regardless of my preferences or in the interests of said diversification and as such how long is "temporarily"? Has anyone asked these questions before and if not I would be grateful for a response from charles . Thank you The Property Crowd ISA is a flexible ISA. So you can remove spare cash while it is not invested in loans to avoid paying fees on it. With a flexible ISA, as long as you return the cash by 5th April it does not count as a withdrawal. That's very helpful, thank you
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