Proplend now plans to submit an application to HMRC to become an Isa manager – allowing it to offer the IFIsa.
The platform currently connects investors directly to creditworthy borrowers, enabling investors to earn attractive risk-adjusted returns and borrowers to gain access to funds that would not otherwise be available.
Brian Bartaby, founder and CEO of Proplend (pictured), said he was delighted the platform had reached this significant milestone.
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“The granting of full authorisation demonstrates to current and future investors that Proplend’s regulatory and operational infrastructure has met with the highest standards demanded by the FCA.”
Proplend offers lenders the chance to invest across up to three LTV-based tranches with all loans being supported with the security of a first legal charge over an income-producing commercial property.
“We believe that the rates of return offered in even our lowest risk Tranche A (0-50% LTV) will prove very attractive to Isa investors in the persisting low interest rate environment,” Brian added.
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