LandlordInvest launches property-backed IFISA
LandlordInvest, recently approved as an ISA manger by HM Revenue & Customs, has launched the first peer-to-peer lending platform to offer a property-backed Innovative Finance ISA (IFISA).
LandlordInvest’s IFISA lets savers invest up to GBP15,240 in the current tax year (rising to GBP20,000 in the next tax year) in peer-to-peer loans secured by residential property, and with the ability to earn tax-free returns between 5-12 per cent per annum.
It is the first property-backed IFISA made available to UK savers.
Filip Karadaghi, LandlordInvest’s chief executive, says: “This is an historic moment for LandlordInvest and UK savers. Our property-backed IFISA provides savers with the first opportunity to access one of the UK’s best performing asset classes, residential property, held in a tax-free wrapper. Our property-backed IFISA may offer savers higher returns than offered by cash ISAs, and without exposure to or correlation with the volatile stock markets. We believe that the property-backed IFISA will broaden the appeal for peer-to-peer lending and advance it towards becoming a mainstream asset class.”