LandlordInvest, a fully FCA authorised peer-to-peer lending platform for buy-to-let and bridging loans, has received ISA manager approval from the Board of HM Revenue and Customs. The firm may now offer the new Innovative Finance ISA (IFISA) to investors.
LandlordInvest says it is the first peer-to-peer lending platform that is able to offer a property-backed IFISA, and is looking to do so over the next weeks. Currently, only a handful platforms offers the IFISA, of which most are focussed on business lending.
Filip Karadaghi, LandlordInvest’s chief executive, said: “We are delighted that we have received ISA manager approval by HMRC.
“We believe that our IFISA will be sought after given the low rates offered by Cash ISAs, with an average rate of less than 1% per annum, whilst our property-secured IFISA will provide investors with the possibility to earn up to 12% per annum tax free.
“The ISA market is significant, around £500bn, and we believe that the new IFISA that only became available this tax year, is a valuable addition to any well-diversified portfolio.”