News

Proplend Charges

Published on April 12, 2017

Unlike many ISA providers, we don’t charge for account opening and we don’t charge for transfers in – or for transfers out. There’s no charge for withdrawals of £50 or more but we will pass on bank charges (£0.55) for payments out of your IFISA under £50. We do reserve the right to charge for extra admin caused by Investor breaches of ISA rules (‘Voids’).

Summary of IFISA charges

  • ISA Opening                          No charge
  • ISA-Specific Fee                    No charge
  • Transfer Ins                            No charge
  • Transfer Outs                         No charge
  • Withdrawals £50+                 No charge
  • Withdrawals under £50        £0.55 bank charge for each
  • Voids incl. ‘repairs’                Up to £75 depending on the extra admin required

How we make our money

Proplend aligns itself with the interests of its Lenders by deducting a ‘Lender Fee’ equivalent to 10% of the monthly interest from all monthly gross interest payments – we get paid when you do. This is the same for both traditional Proplend investments and Proplend IFISA loan investments.

We also charge a 0.5% ‘Novation Fee’ for loan investments sold through the Proplend Loan Exchange (PLE). You will only incur this fee if you sell a loan investment before the end of the loan term.