LANDLORDINVEST has attracted more than half a million pounds into its Innovative Finance ISA (IFISA) since launch, the peer-to-peer platform has revealed.
Filip Karadaghi, chief executive of the buy-to-let specialist, said around 80 lenders have placed £548,035 into the property-backed IFISA since it was unveiled in January.
He said there are 155 registered accounts in total, so more money could be coming in.
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The figures come as the platform announced it is moving administration of the IFISA to back-office and software provider Goji.
“We are confident that this will further enhance our IFISA product to our customers and continue support the growth of this new type of ISA, an alternative to the low returns offered by cash ISAs and not as volatile as stocks and shares Isas,” Karadaghi said.
Goji already provides IFISA services for P2P platforms such as Landbay and Downing.
“We believe that our platform and operations team enables us to provide a first-class IFISA administration service to our clients enabling them to concentrate on providing excellent lending opportunities to their customers,” Rob Brown, chief operating officer of Goji, said.
“Goji is very pleased to be working with LandlordInvest and look forward to helping them to provide outstanding service to their IFISA customers.”
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