The one-year or three-year fixed term ISA can be opened with a minimum investment of £100 and a maximum of up to £20,000 per annum, under current 2017/18 allowances. Capital is repaid at the end of the term and interest of between 4% and 5% is paid annually.
Kuflink, which is sister firm to short-term lender Kuflink Bridging, has also launched an investment option for both corporate and individual investors and relaunched its existing offering as Select-Invest.
With Select-Invest, investors can choose from a selection of properties and benefit from the 20% stake taken by Kuflink Bridging in each property investment. Interest of between 5% and 7.2% is paid monthly and capital is repaid at the end of the term. The product has a minimum investment and minimum top-up of £100, with no maximum.
The new Auto-Invest product involves investment in a pool of properties to spread the risk. The product benefits from the 5% stake taken by Kuflink Bridging in each property investment. As with the Select-Invest product, the minimum investment is £100 and there is no maximum. The terms are either one year or three years, with interest of between 4 and 5% paid annually.
Speaking about the new P2P products, Tarlochan Garcha, CEO at Kuflink said: “We are delighted to bring these three products to the market, particularly our new Innovative Finance ISA, which is one of a very small number of similar opportunities for investors to invest in P2P with all the tax-free advantages of an ISA wrapper. [These] products provide options for individual and corporate customers who want to see a return that is so much more competitive than leaving money on deposit.”
Kuflink Group founded its P2P platform in 2016 and received FCA authorisation in April this year.