LandlordInvest almost doubles loanbook thanks to IFISA boost
LANDLORDINVEST has almost doubled the size of its loanbook in the first five months of 2018, the platform’s latest data shows.
The peer-to-peer buy-to-let lender has released its latest loanbook statistics, for the period between the start of January and the beginning of May.
It showed that investors have funded £4.4m of loans, which is up from the £2.7m revealed in December 2017.
The average loan size is £202,589, with an average loan-to-value of 64.6 per cent.
Investors are also receiving average interest rates of 12.9 per cent, the loanbook showed.
The largest loan amounted to £740,741 for a £950,000 semi-detached house in London, paying an interest rate of 9.5 per cent.
In contrast, another landlord in Warwickshire has borrowed £66,133 for a £420,000 bungalow, offering investor interest at 19.2 per cent.
The platform will have been boosted by its Innovative Finance ISA (IFISA).
It raised more than £2m in subscriptions for its IFISA in the last tax year.
The company opened 121 new IFISA accounts in the 2017-18 tax year with total subscriptions reaching £1.65m, alongside £536,404 of ISA transfers.
This was more than double the 68 accounts opened in the 2016-17 tax year and was a substantial 292.5 per cent increase on the £419,385 of subscriptions made in the first year of the IFISA.