Lending Works has revealed this week that there has been strong demand for the IFISA since its launch on April 6. In a survey sent out to their investors, Lending Works has revealed that 89% of customers currently using the site plan to take advantage of the new ISA when they are able to.
Like with the majority of peer-to-peer lenders, Lending Works is still waiting on full authorisation from the FCA which it hopes to achieve sometime later this year.
The site has also revealed that 31% of lenders are at least preliminarily interested in investing the top band £10,000 - £15,240 on an IFISA with 8% interested in investing up to £5,000.
The results will be a welcome throughout the industry as early signs of the IFISA take up were looking slow.
Lending Works CEO, Nick Harding, said: “Our lenders are clearly very excited about the prospect of our platform delivering the IFISA.
We’re now champing at the bit to get the go ahead from the FCA to make our IFISA a reality.
It is a huge vote of confidence in both our company and peer-to-peer lending as a whole to see so many investors willing to commit.”
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