Kuflink launches new ISA and investment options
Peer-to-peer platform Kuflink has launched two new investment products and an ISA.
The property-backed Innovative Finance ISA can be started with a minimum investment of £100 and under current 2017/18 allowances, up to £20,000 pa can be invested.
Terms are 1-year fixed or 3-years fixed, with capital repaid at the end of the term and interest paid annually. (Interest between 4% and 5%)
On the investment side the firm has launched the Select-Invest product which also has a minimum investment of £100 and minimum top up of £100 with no maximum.
As the name suggests the client (individual or corporate) chooses to invest from a selection of properties and benefits from the 20% stake taken by Kuflink Bridging in each property investment. Interest is paid monthly and capital is repaid at the end of the term. (Interest between 5% and 7.2%)
The second product is called Auto-Invest and is an investment in a pool of properties to spread risk and is open to individuals and corporates.
The product benefits from the 5% stake taken by Kuflink Bridging in each property investment. Minimum investment is £100 with no maximum. Terms are one and 3-years and interest is paid annually. (Interest between 4% and 5%)
Tarlochan Garcha, CEO at Kuflink, said: “We are delighted to bring these three products to the market, particularly our new Innovative Finance ISA, which is one of a very small number of similar opportunities for investors to invest in P2P with all the tax free advantages of an ISA wrapper.
“Our existing offering, now called Select-Invest, has been rebranded to differentiate it from the other products and along with the Auto-Invest product provide options for individual and corporate customers who want to see a return that is so much more competitive than leaving money on deposit.
“We are very proud of our offering as it caters for the widest variety of customers and particular needs and we are confident that it will be well received.”