Invest & Fund records record IFISA openings
Invest & Fund has reported record Innovative Finance ISA account openings.
The peer-to-peer lender said it is expecting further increases from Funding Circle IFISA transfers.
“Our applications for IFISA accounts hit all-time highs of late, which is an accurate indicator that the appetite for investing in property-backed risk-adjusted assets is higher now than it’s ever been,” Invest and Fund said in an update to Peer2Peer Finance News.
“This comes straight off the back of a record year for volume across the business.”
Read more: Invest & Fund achieves busiest few months
The platform reiterated its commitment to the retail P2P market following Zopa’s exit from the market last year and is now expecting more business after Funding Circle also left the sector.
“We expect to see further increases in new investor inquiries in the peak ISA season and welcome clients looking to transfer their IFISA from Funding Circle to continue receiving inflation-beating returns,” Invest & Fund said.
Read more: Invest & Fund IFISA set for best ever quarter
Invest & Fund said its investors have received all their capital and interest back so far.
The platform attributed this to a “top tier team cherry-picked from across the banking sector that specialises exclusively in residential development and understands this sector in a way that inspires confidence in both borrowers and lenders alike.”
Investors can get returns of between 6.75 per cent and 7.50 per cent with Invest & Fund.