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|P2P lender ThinCats gears up for the launch of its Innovative Finance ISA|
|Monday, 07 March 2016|
ThinCats, Europe’s largest secured SME peer to peer lending platform, today sets out its plans for the Innovative Finance ISA which should be available in April, subject to achieving full FCA regulation.
While most peer to peer platforms are expected to move towards homogenised savings products, ThinCats will retain its popular auction approach, allowing investors to select their own ISA investments from a wide range of different business types and bid for the interest rate they want to earn.
A survey of ThinCats members has revealed strong demand for the ThinCats ISA, with 98% planning to take advantage of the scheme, and two thirds (68%) saying they will be committing their full ISA allowance.
Kevin Caley, Founder and Chairman of ThinCats, commented: “2016 is going to be a landmark year for the peer to peer industry. The huge influx of ISA money will more than double the size of the market within a few months and make this unique asset class a must-have component of any well balanced investment portfolio.
“Growth at such a rate is a serious but welcome challenge for the peer to peer sector and will require careful management to maintain loan quality and platform stability. The ThinCats ISA will be available to all UK taxpayers, but existing ThinCats members will be given priority if demand is very high.”
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