LandlordInvest to launch property-backed IFIsa

LandlordInvest to launch property-backed IFIsa

Peer-to-peer (P2P) lending platform LandlordInvest has announced plans to launch a property-backed Innovative Finance Isa (IFIsa) after securing Isa manager approval from HM Revenue and Customs (HMRC).

The firm is set to offer the new product over the next few weeks and in doing so it claims it would become one of the first platforms of its kind to release a property-backed IFIsa.

Once live, investors will be able to earn up to 12% per annum tax free.

Filip Karadaghi, chief executive of LandlordInvest, said: “We are delighted that we have received Isa manager approval [from] HMRC.

“The Isa market is significant, around £500bn, and we believe that the new IFIsa, [which] only became available this tax year, is a valuable addition to any well-diversified portfolio.”

LandlordInvest is one of many P2P firms currently hoping to launch into the IFIsa market.

In January alone, P2P lenders Landbay and Octopus Choice both revealed plans to develop an IFIsa product after securing full authorisation from the Financial Conduct Authority.

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