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When questioned further if they would invest in P2P through their personal ISA allowance, 85 per cent said ‘yes’. Yet more than two-thirds of those same people were not aware that this option will soon become a reality when investment restrictions on ISAs are officially relaxed.
Not only will such investments have the potential to produce TAX FREE returns of 5-10 per cent per annum (subject, of course, to ISA limits and the absence of any bad debts) to interest-starved investors – benefits normally enjoyed only by powerful investment institutions – but could also release billions of pounds to SMEs in need of an alternative to the banks.
Commenting on the potential, Proplend’s founder and Managing Director Brian Bartaby said: “Just imagine, if 85 per cent of the people who put £40 billion into cash ISAs in 2012-13, switched to the P2P route it would generate £34 billion of precious funding for business. This would be a wall of retail money that looks and acts like institutional money.”
“Individuals in the current long term low interest rate situation can look to P2P lending as a means to generate much-needed income from cash reserves and balances. £1 billion has already been lent via P2P platforms this year.”
Formed in 2013, Proplend is a P2P lending platform that concentrates purely on secured loans to owners of income generating commercial property in the UK. Private investors can lend to property owners in the knowledge that their repayments are covered by rental income, with the added reassurance of a first charge over the property in the event of default.
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16 Dec 2014 14:02
12 Nov 2014 13:48
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