ThinCats delays IFIsa launch

ThinCats has announced that it will now be launching its Innovative Finance Isa (IFIsa) early next year.

The peer-to-peer lending platform had hoped to launch its IFIsa by the end of this year and thanked investors for their patience.

It is currently building the new systems needed to handle the different aspects of accepting and administering Isa investments safely.

ThinCats will begin its Isa launch by accepting new subscriptions from lenders who have already registered an interest in the order that lenders signed up.

Shortly after this, it will be able to accept transfers of existing Isas into the ThinCats Isa on the same basis – as long as existing Isas can be converted into cash to transfer to ThinCats.

“We will write to those lenders who have registered their interest straight after the Christmas and new year break with details of how [they] will be able to open an account and issue regular updates from that point until the launch,” added ThinCats.

“The launch date itself will be confirmed as soon as we are confident that the new systems enhancements are ready to deploy.”

ThinCats will offer its Isa to new clients once existing lenders have all had the opportunity to open an Isa account.

The platform does not expect this to happen until the new tax year.

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