Property-backed P2P Lending Platform has been named on a 4-strong shortlist for the Alternative Best P2P Platform at the Credit Strategy F5 Awards 2017. The winner will be announced on 31 October at a Hilton Bankside (London) ceremony.
Recognising the new pioneers within non-traditional finance, the F5 Future of Finance Awards are billed as “… the only dedicated awards ceremony focused on the evolution of the alternative lending market.” Six months ago Proplend became one of the first Peer to Peer Lending platforms to gain full Financial Conduct Authority authorisation and launch an Innovative Finance ISA.
Unlike most ISAs Proplend’s IFISA is flexible, enabling ‘Lenders’ to withdraw funds from their ISA and ‘return’ them by the end of the current tax year without it being counted as new subscriptions. Both new ISA subscriptions and ISA transfers including previous year subscriptions can be withdrawn and returned in this way with no limits or fees imposed on transfers in or out.
Earlier in 2017 Proplend also introduced an online portal for advisers and wealth managers enabling them to register, monitor and provide advice to their clients on the specific loan investments on the platform.
Established in early 2014, Proplend pioneered the Peer to Peer Loan Tranche Model enabling Lenders to choose between up to three loan to value based investments in each of their loans – which ever they feel comfortable with. To date there have been no arrears or defaults and no Lenders had suffered any losses on the Proplend platform.
