Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_309559970
October 12 2016

Folk2Folk to lower investment threshold for IFISAs

suzie10 Industry News, News Financial Conduct Authority, Folk2Folk, Innovative Finance ISAs, Jane Dumeresque, peer-to-peer lending, tax-free investment

FOLK2FOLK is planning on lowering its £25,000 minimum investment threshold once it can offer the Innovative Finance ISAs (IFISAs), Peer-to-Peer Finance News has learnt.

The peer-to-peer business lender, like many of its rivals, is still awaiting full authorisation from the Financial Conduct Authority so that it can apply to HMRC for ISA manager status. Then it can offer the tax-free wrapper around P2P investments – but the current ISA limit is £15,240 per year.

“We’ll make an exception to our minimum investment threshold for the IFISAs,” chief executive Jane Dumeresque said on the sidelines of the LendIt conference in London on Tuesday.

“We sent a note round to our customers and 20 per cent said they’d like to invest in them. It’s clearly a very attractive proposition.”

Dumeresque said that she was “feeling very optimistic” about FCA approval and that the Cornwall-headquartered business had reached the “final hurdle” in complying with the regulatory process.

Folk2Folk was set up in 2013 by the owners of law firm Parnalls of Launceston. It connects high-net-worth individuals with business borrowers and the loans are secured, usually against property.

Investors can choose who they lend to, giving them the option to invest in local businesses. Returns range between 5.5 per cent and 6.5 per cent.

The company has opened a number of high-street branches in select regions of the country in order to attract borrowers and lenders. On Monday it announced it will be opening a new office in Gloucestershire on 1 November after establishing a local demand.

LendIt conference ends with a win for LendingWell and a new fintech partnership UK SMEs less worried about accessing finance

Related Posts

nikhil-rathi-high-res

Industry News, News, Top 3

FCA boss defends appointment of new supervision and policy head

fca office

Industry News, News, Top 3

FCA pays FundingSecure investors due to delay in addressing complaints

Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Cryptocurrency, Industry News, News, Top 3

Aave’s marketplace surpasses $5bn in liquidity

Popular posts:

  • The House Crowd goes into administration
  • Sunak to announce stringent CBILS successor scheme
  • Octopus Choice has permanently closed
  • Metro Bank plans to offer RateSetter lending through…
  • RateSetter confident of growing Metro Bank’s…
  • FCA warns The House Crowd investors against using…
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by