The House Crowd has made a play for peer-to-peer investors using ThinCats and Landbay who will be seeking a new home for their Innovative Finance ISA (IFISA) money.
A newsletter from The House Crowd, aimed at these investors, highlights its IFISA offering and commitment to the retail market.
“Neither company will be accepting any more investment through their IFISA and will be paying back their clients’ investments,” Rob Price, head of ISA development for The House Crowd, said.
“The House Crowd have always been, and still are, committed to the retail market and we are still offering our IFISA, which gives a target interest rate of up to seven per cent a year.”
The platform also offers a free transfer process for amounts below £5,000. There is a £50 admin charge for values above that.
The development and bridging lender shifted to an auto-invest model last week, which it said would boost platform liquidity and improve the investor experience.
Under the new model, investors can choose from classic, balanced and adventurous products targeting rates of 5.5 per cent, seven per cent and eight per cent respectively.