LandlordInvest has received full Financial Conduct Authority (FCA) authorisation following a 24-month process. LandlordInvest is a peer to peer lending platform for buy-to-let and bridge loans. LandlordInvest stated it has also submitted an application to HMRC to become an ISA manager and intends on offering an Innovative Finance ISA or IFISA at some point in the future. LandlordInvest added that it expects to be approved by the HMRC as an ISA manager within a few weeks becoming one of a only a few P2P platforms to be able to offer the IFISA.
LandlordInvest provides secured borrowing to landlords seeking between £30,000 and £750,000. Lenders may invest with just £100.
Filip Karadaghi, LandlordInvest’s Chief Executive, stated;
“We have after a long and rigorous process finally been authorised by the FCA. We are delighted to have reached this important milestone, ahead of many larger peer-to-peer lending platforms, that are still operating under an interim permission. Full FCA authorisation means that we have proved to the regulator that we are able to meet its high threshold standards and have the appropriate regulatory and operational infrastructure in place.”
Karadaghi said their next milestone would be to offer the IFISA. LandlordInvest expects to offer tax-free returns between 5-10% per year with their IFSA.