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_602945495
March 21 2017

HNW Lending launches IFISA with va va vroom!

Marc Shoffman Industry News, News Ben Shaw, classic cars, FCA, HMRC, HNW Lending, IFISA, p2p

A PEER-TO-PEER platform specialising in loans for valuable assets such as classic cars has become the latest to launch an Innovative Finance ISA (IFISA).

HNW Lending, which lets investors fund loans of between £50,000 and £1m for collectors, is offering an IFISA with returns of between seven and 15 per cent a year.

The minimum investment is £5,000 and the rate will reflect the risk attached to the loans chosen by the investor.

Read more: The top IFISA rates

The platform, which launched in April 2014, has provided more than 150 loans against a range of assets including property, wine, jewellery, art and classic cars.

Examples include a £100,000 loan against a customised Mercedes Maybach, and a 1939 Lincoln Zephyr, and a £50,000 loan against two classic stunt planes.

HNW Lending assesses the value of a potential borrower’s valuable items and based on this will find a lender prepared to provide funds against the item or items.

Arrangements will then be made with the borrower for their items to be moved into safe storage or if it is a property, for a first or second charge to be registered.

Read more: IFISA investors to earn four times more than savers in a downturn

Ben Shaw, founder of HNW Lending, says the platform holds security over the assets or puts a charge on the borrower’s property to protect against any defaults.

“We are delighted to have received HMRC and FCA approval to offer IFISAs,” he said.

“We have a proven track record of providing strong returns to the investors who fund our loans, and we have not lost any capital or interest to date.”

Read more: Abundance receives £10m boost from IFISA

LendInvest funds Canary Wharf mega project RateSetter signs up to Women in Finance Charter

Related Posts

Dog at school

Industry News, News, Top 3

Five key takeaways from the fintech review

Closed sign

Industry News, News, Property, Top 3

The House Crowd goes into administration

investing

Industry News, News, Top 3

Government urged to modify EIS to promote lending

Popular posts:

  • The House Crowd goes into administration
  • RateSetter to stop investment withdrawals from 26 March
  • UK Finance calls for global fintech cooperation
  • Metro Bank plans to offer RateSetter lending through…
  • RateSetter confident of growing Metro Bank’s…
  • FCA puts the brakes on Buy2Let Cars
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