Assetz Capital has launched its Innovative Finance ISA today.
The business peer-to-peer (P2P) lender’s ISA is available as a wrapper on all of the automated investment accounts, with the Manual Lending Account also set to be allowed into the ISA in early 2018.
In a change with convention in the marketplace, this ISA is available to both new and existing investors on the Assetz Capital platform, with more than 10,000 investors already having registered interest in the ISA ahead of its launch. Users are able to use their £20,000 annual tax-free allowance on the Assetz Capital platform. They will also be able to transfer in past years’ ISA savings from their cash and shares ISAs.
It follows a successful year for Europe’s second largest P2P lender. As well as receiving full authorisation from the Financial Conduct Authority (FCA), its automated accounts now hold around £150million of investor money with a further £50m invested in manually selected loans. Since launch lenders have now earned over £32million in gross interest on the platform.
Stuart Law, CEO and founder of Assetz Capital, commented: “This has been a transformational year and we are ending on a high with a refreshed brand and website, new headquarters in Manchester and the launch of our ISA. This is the result of the fantastic work by our dedicated team and the huge support by our investors to help take peer-to-peer lending to the next level.”