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For Your Consideration This IFISA Season - Security, Access, Yield




It's that time of year again. After a relatively slow start for Innovative Finance Individual Savings Accounts (IFISAs - see an earlier News article on this topic) the awareness and popularity of the IFISA could be set to soar.It's important to balance risk against the good returns (Money&Co. lenders have achieved over 8 per cent gross returns over nearly £15 million facilitated on the platform).P2P Finance News reports on the issues below.

CHOOSING WHERE TO place your ISA allowance each year can be tough. A cash ISA provides a defined rate of interest but the best returns are typically below inflation.In contrast, investors can aim for higher returns by investing in the stock market with a stocks and shares ISA.But this brings stock market volatility and the risk of losing your money, alongside fees for the investment wrapper and for a financial adviser, if one is used.What if you could combine that fixed rate of interest with a little extra risk? Enter the Innovative Finance ISA (IFISA).The IFISA lets investors earn their peer-to-peer loan interest tax-free. Returns range from 3.54 per cent with Landbay or 4.5 per cent with Zopa to double figures with platforms such as LandlordInvest, Proplend and Ablrate.In contrast, the best rate on a cash ISA comes in at around two per cent."It may be tempting to open a basic cash savings ISA, but some savings goals are for the longer-term, so instead consumer

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P2P Portfolio Service Set To Spark Migration From Cash ISAs




Hello. The new year is in, and we welcome 2019 with renewed emphasis on Money&Co.'s just-launched Portfolio Innovative Finance Individual Savings Account, which is managed by Bramdean Asset Management (an FCA-regulated fund management business).This service has already attracted significant volumes of business (in the final quarter of 2018) – and the prospects look excellent, as savers and investors wake up to the advantages of tis offering.Consider, if you will, the alternatives on offer – the figures below are from HMRC's published data for the tax year to April 2108.

  • 10.8 million adults subscribed for ISAs in 2017/18 against 11.1 million in 2016/17 and 12.7 million in 2015/16. The number of Cash ISAs sold declined by 697,000, but 246,000 more Stocks & Shares ISAs were sold. Despite the decline in the number of Cash ISAs sold during 2017/18, 72 per cent of subscriptions were made to Cash ISAs. This figure was 77 per cent in 2016/17.
  • A total of £69 billion was subscribed to ISA accounts in 2017/18, a rise of £7 billion on the previous year.
  • The average UK subscription to an ISA was £6,409, an increase of 15 per cent (Money&Co. ISA account averages are much, much higher).
  • As at 5 April 2018, the value of all adult ISAs was £608 billion, a rise of 4 per cent on 2016/17. Cash ISAs represented 44 per cent of the total, a fall of 2 per cent on the previous year.
  • 22.1 million adults in the UK have an ISA. Lower income groups showed a preference for Cash ISAs.
  • 22 per cent of all subscribers invested the maximum in 2017/18

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Disclaimer: Money&Co.™ is the trading name of Denmark Square Limited, Company Number 08561817, registered in England & Wales, authorised and regulated by the Financial Conduct Authority (FCA). The company is identified on the Financial Services Register under Reference Number 727325. The registered office is 58 Glentham Road, Barnes, London, SW13 9JJ where the register of Directors may be inspected. Denmark Square Limited (ISA manager reference number Z1932) manages the Money&Co. Innovative Finance ISA.