Our friends at P2P Finance News offer another report on the important difference Innovative Finance ISAs are making to peer-to-peer (P2P) lending. The developments relayed here certainly accord with our own experience at Money&Co., with a healthy flow of ISA transfers and new cash coming in in significant amounts.
“INNOVATIVE Finance ISA (IFISA) investors are placing double the amount in the tax-free wrapper than in regular peer-to-peer accounts, Landbay has revealed.
“Julian Cork, chief operating officer of Landbay, said the average IFISA account size on the property lending platform was £14,000, double that of the regular accounts.
“The Landbay IFISA was launched in February and offers a return of 3.75 per cent.”
Money&Co. average loan return over 9.18 per cent
We’ve done some more sums, and can announce that the latest average return achieved by Money&Co. lenders is just over 9.18 per cent – before deduction of our one per cent fee – in the three years and nearly £10 million of loans facilitated on our platform. More new offerings will be announced next week.
In addition to new loan offerings, our secondary loan market, offering existing loans for sale by lenders, is available to registered Money&Co. users. All loans can be held, tax-free, in an Innovative Finance Individual Savings Account, or Innovative Finance ISA.
If you haven’t made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment. Capital is at risk, once loaned.