LandlordInvest has secured ISA manager approval from HM Revenue and Customs.

The FCA authorised peer-to-peer lending platform for buy-to-let and bridging loans can now offer the new Innovative Finance ISA (IFISA) to investors.

It claims to be the first peer-to-peer lending platform that is able to offer a property-backed IFISA, and is looking to do so over the next weeks.

“We are delighted that we have received ISA manager approval by HMRC. We believe that our IFISA will be sought after given the low rates offered by Cash ISAs, with an average rate of less than 1% per annum, whilst our property-secured IFISA will provide investors with the possibility to earn up to 12% per annum tax free,” said Filip Karadaghi, LandlordInvest’s chief executive.

“The ISA market is significant, around £500 billion, and we believe that the new IFISA that only became available this tax year, is a valuable addition to any well-diversified portfolio.”