What is an Innovative Finance ISA
The UK Government introduced the Innovative Finance ISA on 6th April 2016. The “IFISA” allows individuals to use some (or all) of their annual ISA investment allowance to lend funds through the growing Peer-to-Peer lending market, whilst receiving tax-free interest and capital gains.
Ablrate’s Innovative Finance ISA
Ablrate began offering their IFISA in August 2017. In the first few hours over 70 IFISAs were opened with over £250,000 deposited. The Ablrate IFISA has been designed specifically for Ablrate Lenders. It is a flexible IFISA which means you can withdraw money from your IFISA and put it back in in the same tax year without affecting your annual allowance.
Our borrowers are primarily UK based and all loans are asset backed. This means that your loan is secured by collateral (assets) provided by the borrower. We post full details of the borrowing company and the loan in a borrowing proposal. It is then up to you to choose whether you would like to invest or not.
We also have more flexible loan accounts, where you have quick access while there are lenders investing in and selling those loans. This gives you the flexibility not to tie up your money, but still get a great return. We call these loan ‘Portfolio Loans’. To find out more on the different portfolio loans we offer, visit our portfolio loans page.