LandlordInvest, having recently launched the first residential mortgage-backed IFISA, has made its IFISA flexible.
Flexible ISA means that an investor can replace, in whole or in part, cash the investor has withdrawn, without the replacement counting towards the investor’s subscription limit for a tax year.
The flexible ISA was only introduced in the current year and offers savers the ability to move cash between all types of ISAs (cash, stocks & shares and the IFISA).
LandlordInvest’s property-backed flexible IFISA lets savers invest up to £15,240 in the current tax year (rising to £20,000 in the next tax year) in peer-to-peer loans secured by residential mortgages, and with the ability to earn tax-free returns between 5-12% per annum.
It was the first residential property-backed IFISA ever made available to UK savers, and it is expected to be a valuable addition to any well-diversified portfolio, especially in the current low rate environment.
Filip Karadaghi, LandlordInvest’s chief executive, said: “Being an industry innovator, having launched the first residential mortgage-backed IFISA, we are delighted to offer savers a flexible IFISA which gives savers more freedom to access and replace their ISA savings in the same tax year.
“It has been predicted that increased flexibility will benefit the industry as a whole and we are keen to embrace any innovation that gives savers choice and possibility to allocate their savings.”