Proplend launches its IFISA to existing platform Lenders
Proplend was in the news on Wednesday (31st May) with Peer2Peer Finance News reporting on the successful launch of the platform’s Innovative Finance ISA (IFISA), initially to existing registered Lenders only.
Chief Executive Brian Bartaby, is quoted saying; “We decided to make the ISA flexible, which made it more complicated and delayed the launch.” The option of withdrawing funds from the ISA and returning them (before the end of the same tax year) cited as a significant benefit for all ISA investors.
Referring to the initial availability of the IFISA, Brian explained; “We’re giving priority to people who previously registered … We will see how it goes for the next month and then open the ISA out to more pre-registered investors.”
The article touches on a record year to date for Proplend with 2017 volumes on its secondary market (the Proplend Loan Exchange) already eclipsing those for the whole of 2016. There are also plans (to build on the launch of its IFISA and online portal for advisers and wealth managers) with an auto-select product later in the year.
Proplend’s IFISA offers Lenders the chance to invest in the same UK commercial loans, benefit from the same great security (including steps we’ve taken to minimise lending risk) and earn the same attractive rates of return – tax free. For more information about peer to peer lending through an Innovative Finance ISAs and Proplend’s IFISA, take a look at our comprehensive IFISA Guide.
Existing registered platform Lenders can open their IFISA by logging into their Proplend ‘Dashboard’ and clicking on the ‘Open ISA Account’ button. They’ll just need to provide their National Insurance Number and accept our IFISA Terms and Conditions and they’re ready to fund their ISA.
Interested in opening a Proplend IFISA but not currently a registered Lender? Sign up and register for IFISA updates to ensure you’re first to know when our product becomes available to new customers.