Basset and Gold, the investment company that provides financing to marketplace lending platforms and direct loans, has announced the launch of its new Innovative Finance ISA (IFISA).
The IFISA, which launched on Friday March 17th, has already created traction with consumers and the industry, especially VCs looking to create bespoke investments. The new ISA gives consumers key benefits in interest and capital gains that are generated tax free.
“Our ISA will be at fixed rate interest for our investors, which will give them a tax free investment product with high levels of interest. At the moment, individuals can invest all or some of their ISA allowance into the IFISA, and it works exactly how our current bonds do”, says Daniel Smith, Director of Relationship Management at Basset and Gold, exclusively to PaymentEye.
Smith also states that getting ahead of April 5th ISA deadline was crucial to enable tax-free ISAs and provide financing to marketplace lending platforms and direct loans.
Though Basset and Gold is best known for its fixed monthly income bonds, the new ISA is set to showcase the company’s approach to providing market solutions for investors and those in the UK savings market looking to get ahead with personal finances. The thinking behind creating the innovative ISA is to create investment opportunities that are easy to understand, transparent, and that continuously control risk, while maintaining market-leading fixed returns that meet customers’ investment goals.
New opportunities for investors
“We look to provide the everyday investor with the opportunities to take advantage of an offer that was once only reserved for either institutions or high-network investors”, Smith confirms.
“The rationale behind launching now is the April 5th deadline, and bringing a new approach to the UK savings market. We’ve seen a lot of traction with the product already. We believe that consumers, especially those looking to save, have been waiting for fixed rate returns from the ISAs which were being delivered to the industry.
“There has been a huge amount of anticipation around the IFISA, and we are proud to be among the first in the UK to offer our own product in this space. The ISA has long been the hero product of the UK savings market, and we are delighted that Basset & Gold can now make its mark on this space at the forefront of the introduction of the IFISA.”
“Tired of complex low interest rate products, consumer demand is soaring for new and innovative forms of finance. Having access to a product that can give you tax-free returns at security levels such as ours is one of the most exciting recent developments in UK finance.”
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