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Innovative Finance ISA
With only a short window remaining within this tax year, the majority of peer-to-peer platforms still have not received full FCA authorisation, and are therefore unable to offer the new Innovative Finance ISA (IFISA). However there are a number of P2P platforms that have been successful in obtaining FCA authorisation and HRMC registration as an ISA manager. The members of the P2P Independent Forum have compiled a list of the various platforms that are currently offering an Innovative Finance ISA.
http://www.p2pindependentforum.com/post/163682
We have take a copy of this list as of 1st April but for the up-to-date list please refer to the P2P Independent Forum.
| Platform | Rate | Minimum Investment | Transfer In | Comments |
|---|---|---|---|---|
| Abundance | 5% to 12% AER Typical 7.5% AER |
£5 | Yes | 2% AER return on ISA cash balances until 31st May 2017 |
| Bassett & Gold | 6.12% AER | £1000 | Yes | No fees |
| Capitalrise | 10% to 14% AER | £1000 | Not yet | £35 transfer out fee |
| Crowd for Angels | Not specified | £100 | ||
| Crowdstacker | Typically 5% to 7% AER | Not specified | Yes | £15 fee to sell investments through platform |
| Crowd2Fund | Estimated 8.7% AER | Not specified | Yes | Secondary market available |
| Downing | Typically 4 to 7% AER | £100 | Yes | |
| HNW Lending | Not specified | £10,000 | Yes | £75 transfer fee |
| Landbay | Expected 3.75% AER | £5000 | Yes | £50 transfer fee |
| LandlordInvest | Up to 12% AER | £100 | Yes | 0.5% secondary market fee if you choose to sell early |
| Lending Crowd | Target 6% AER | £1000 | Yes | 1% withdraw fee |
| Lending Works | 3.6% AER | Not specified | Yes | Rates for 3 year and 5 year ISA respectively |
| 4.5% AER | ||||
| Money & Co | Typically 7% AER | Not specified | Not specified | |
| Property Crowd | 7% to 10% AER | Not specified | Yes | |
| UK Bond Network | Typically 7% to 12% AER | £5000 | Yes | 1% cashback bonus |
Thanks to the members of the P2P Independent Forum for their tireless work in investigating these platforms.
This entry was posted on April 3rd, 2017 at 12:00:00 pm by easteregg and is filed under News, Background, Lending.
Tags: abundance, bassett & gold, capitalrise, crowd for angels, crowd2fund, crowdstacker, downing, fca, hnw lending, landbay, landlordinvest, lending works, lendingcrowd, money & co, property crowd, uk bond network
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