Landbay a peer to peer lending platform has launched an Innovative Finance ISA (IFISA).

What is an Innovative Finance ISA?

The “IFISA” allows individuals to use some (or all) of their annual ISA investment allowance to lend funds through the growing Peer-to-Peer lending market, while receiving tax-free interest and capital gains.

More information here: https://innovativefinanceisa.org.uk/the-isa/

The structure of the LandBay IFISA is as follows:

• Interest rate 3.75%
• Minimum investment is £5,000
• No investment fees
• Automatic diversification
• Secured against British property
• It is only for Fixed Rate products

Quick stats on Landbay as of February 2017

Total lending completed: £43.34m
Total mortgages:  245

More stats here: https://landbay.co.uk/statistics

To Learn More on How land by work click here: https://landbay.co.uk/how-it-works