As they say, good things come to those who wait. But now the wait is over!

We have launched our Innovative Finance ISA (IFISA) which allows Lenders to lend through our tax-free wrapper. If you haven't head of the IFISA, our brief blogpost will give you an overview of it - What is the Innovative Finance ISA.

Our ISA works similarly to our regular lending product. All loans available on the platform are backed by security over the property and you have full control over which loans you invest your funds into. With returns now tax free!

The Relendex ISA is a non-flexible ISA as we have found that lenders who lend through the Relendex platform see us as a long term investment. They are committed to holding their loan parts for the long term, although we do have a Secondary Market, if they decide to sell early on. A non-flexible ISA suits this behaviour and allows us to offer the ISA without any fees.

While there is an annual limit (for tax year 2017/18) of £20,000 of new subscriptions across all ISAs, there is no limit to how much you can transfer over from existing ISAs. Transferring an existing ISA over to the Relendex IFISA is simple. You just need to fill in a Transfer Authority form and we'll do the rest! Have a look at the step-by-step process here.

A word from our founder and CEO, Michael Lynn on why the Relendex IFISA is a viable alternative to other ISA products on the market:

“Many people have built up a significant nest-egg in their tax-free ISA but in the low-interest environment Cash ISAs are only earning around 0.5% pa and Stocks & Share ISAs are potentially quite volatile and therefore investors’ capital is at risk. A secured lending P2P ISA is the best of both worlds. The yield is good at between 6 and 10% pa, tax-free and there is considerable capital protection in the form of security over independently-valued UK property assets. Of course property values can fall, but since our average Loan-to-Value is around 60%, the property concerned would need to fall 40% on average before any loss would result.

So if ISA investors are thinking of using this year’s Annual ISA Allowance or transferring existing ISA funds to a Relendex IFISA Account, they can build a diversified portfolio of good quality loans and achieve a good yield. They can also reinvest the gross interest, to achieve compound growth and build their capital.”

For an overview of our IFISA product - click here.

Register for an Innovative Finance ISA acount - click here.