Octopus Choice launches Innovative Finance ISA
Octopus Choice, the peer-to-peer lending product, launched its Innovative Finance ISA (IFISA).
The Octopus Choice ISA allows investors to target a variable interest rate of around 4% per year, tax-free, on investments within their annual ISA allowance.
Sam Handfield-Jones, head of Octopus Choice, said: “I believe at a time of low interest rates, rising inflation and ever-present stock market instability, an alternative tax-efficient investment solution has never been more important or valuable.
“We expect today’s launch to bolster the impressive demand we have already witnessed for this product.”
Mario Berti (pictured), chief executive of Octopus Property, added: “We continue to see robust demand from high-quality borrowers across all areas of our business and have just completed our most comprehensive product review since we launched in 2009.
“We are confident that the Octopus Choice ISA provides an ever-widening investor group with access to this important asset class.”
Octopus Property has lent over £2.6bn since its launch in 2009.