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Peer2Peer Finance News | August 24, 2019

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Property Partner launches IFISA for development loans

Property Partner launches IFISA for development loans
Marc Shoffman

PROPERTY Partner has launched an Innovative Finance ISA (IFISA) for investors backing its property development loans.

The property investment platform offers annual returns of up to 10 per cent and the interest and repayments can now be earned within the IFISA tax wrapper.

The account can sit alongside Property Partner’s standard account and is available for transfers.

Read more: A guide to buy-to-let IFISAs

“We’ve introduced the IFISA wrapper to enable our investors to maximise returns from the increasing number of loan opportunities we are bringing to our platform,” Marshall King, chief executive of Property Partner, said.

“It further broadens our appeal to active investors seeking strong returns from property backed investment opportunities.”

Property Partner entered the development loans market in August 2018 to complement its existing crowdfunding model.

It offers development loan bonds, secured against UK residential property developments, sourced by its specialist loan origination and management partner, Proseed Capital.

Loans are offered over terms of between six to 18 months and the platform is currently offering two projects paying investors 9.8 per cent and 10 per cent respectively.

Read more: George Osborne confident about IFISA success despite slow start

Read more: IFISA providers call for tailored HMRC submissions process

On the crowdfunding side, Property Partner invests in residential, student and commercial property and lets investors fund the purchase and share in interest payments from the rent paid.

More than 13,000 people have invested in property through Property Partner since its launch in 2015.

The platform manages over 900 tenanted units valued at over £133m.