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 the ISA 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 incur this fee if you sell a loan investment before the end of the loan term.