Target return
4.8%–5.8%
Target · not guaranteed
Minimum investment
No account minimum
ISA transfers
Accepted
Access
Withdrawal facility
- IFISA
- ISA transfers
- Daily automatic diversification
Fees
No standard platform fee · Exit / resale fee may apply
Invest
Innovative Finance ISA (IFISA)
Compare UK Innovative Finance ISA providers by underlying investments, minimum investment, ISA transfers, diversification, access and investor fees.
An IFISA can shelter qualifying investment returns from UK tax, but it does not reduce the risk of the underlying investment. Capital is at risk.
Tax wrapper
Qualifying returns can be held within an ISA wrapper.
Capital at risk
Underlying investments can fall in value or default.
Access varies
ISA transfers and investment withdrawals can take time.
£20,000 ISA allowance
Subject to current ISA rules and your personal circumstances.
Eligible investments
What can an IFISA hold?
Eligibility under ISA rules does not mean every IFISA provider offers every eligible asset type.
Peer-to-peer loans
Eligible P2P loans to consumers or businesses arranged through qualifying platforms.
Crowdfunding debt / debentures
Certain eligible crowdfunded debt securities and qualifying debentures.
Alternative finance arrangements
Certain qualifying alternative-finance structures permitted under ISA rules.
Less-liquid qualifying investments
Certain investments that meet IFISA rules where liquidity can fall outside standard Stocks & Shares ISA requirements.
Qualifying cryptoasset ETNs
Qualifying UK cryptoasset exchange-traded notes can be held in an IFISA where the manager supports them and regulatory requirements are met.
Cash
Cash can be held temporarily within the IFISA where permitted by the provider and ISA rules.
Eligibility under ISA rules does not mean every IFISA provider offers every eligible asset type.
Cryptoasset ETNs remain high-risk investments and should not be presented as equivalent to cash or diversified mainstream investments.
Compare IFISAs
Compare Innovative Finance ISA providers
Compare more than headline target returns. The underlying investment, fees, diversification, ISA-transfer rules and access arrangements can materially affect your experience.
12 IFISA providers
12 accept ISA transfers · 8 offer automatic diversification · 10 offer resale/access functionality
Target return
Live product rates vary by term and inv…
Target · not guaranteed
Minimum investment
£100
ISA transfers
Accepted
Access
Secondary Market
- IFISA
- ISA transfers
- Auto-Invest / Auto IF-ISA
Fees
No standard platform fee · Exit / resale fee may apply
Target return
8.5%
Target · not guaranteed
Minimum investment
£20,000
ISA transfers
Accepted
Access
Secondary Market
- IFISA
- ISA transfers
- Manual selection
Fees
No standard platform fee · Exit / resale fee may apply
Target return
9.5%
Target · not guaranteed
Minimum investment
£500
ISA transfers
Accepted
Access
Conditional access*
- IFISA
- ISA transfers
- AutoInvest
Fees
No standard platform fee
Target return
6.5%
Target · not guaranteed
Minimum investment
£2,500
ISA transfers
Accepted
Access
Resale Marketplace
- IFISA
- ISA transfers
- Auto-Lend
Fees
Verify current fee schedule · Verify current fee schedule
Target return
6.1%
Target · not guaranteed
Minimum investment
£10
ISA transfers
Accepted
Access
Secondary market · Withdrawal facility
- IFISA
- ISA transfers
- Flexible IFISA / platform automation features
Fees
Verify current fee schedule · Verify current fee schedule
Target return
Loan and tranche-specific target rates
Target · not guaranteed
Minimum investment
£1,000
ISA transfers
Accepted
Access
Loan Exchange · Flexible ISA*
- IFISA
- ISA transfers
- Auto-Lend
Fees
No standard platform fee · 10% of interest received
Target return
Loan-specific target rates; not guaranteed
Target · not guaranteed
Minimum investment
£1,000
ISA transfers
Accepted
Access
Secondary Market
- IFISA
- ISA transfers
- AutoLend
Fees
No standard platform fee · Exit / resale fee may apply
Target return
Deal-specific
Target · not guaranteed
Minimum investment
£100
ISA transfers
Accepted
Access
Secondary / resale process where available
- IFISA
- ISA transfers
- Manual selection
Fees
£0 IFISA opening fee · £0 annual IFISA fee
Target return
12%–18%
Target · not guaranteed
Minimum investment
£100
ISA transfers
Accepted
Access
The Exchange · Withdrawal facility
- IFISA
- ISA transfers
- Smart-Invest
Fees
1% intermediary / repayment fee · 1% intermediary / repayme…
Target return
7%
Target · not guaranteed
Minimum investment
£1,000
ISA transfers
Accepted
Access
Loan market
- IFISA
- ISA transfers
- Manual selection
Fees
No standard platform fee · 1% annual lender fee
Target return
Deal-specific
Target · not guaranteed
Minimum investment
£1,000
ISA transfers
Accepted
Access
Conditional access*
- IFISA
- ISA transfers
- Manual selection
Fees
No standard platform fee
IFISA basics
What is an Innovative Finance ISA?
An Innovative Finance ISA is an ISA wrapper that can hold certain qualifying investments, including eligible peer-to-peer loans and some qualifying debt investments.
The ISA wrapper can change the tax treatment of qualifying returns. It does not change the underlying investment risk.
Step 1
Underlying investment
Step 2
IFISA wrapper
Step 3
Qualifying returns held within ISA rules
IFISA vs Cash ISA
| Feature | IFISA | Cash ISA |
|---|---|---|
| Underlying investments | High-risk investments / lending | Cash deposit |
| Return | Target or investment-dependent | Stated savings interest rate |
| Capital | At risk | Eligible bank/building-society deposits generally lower risk |
| Access | Can be restricted | Depends on account terms |
| FSCS | Do not assume investment losses are covered | Eligible deposits can receive deposit protection subject to FSCS rules |
| Tax | Qualifying returns held in ISA wrapper | Savings interest sheltered within ISA |
An IFISA is not a high-interest savings account. The underlying risk is materially different.
IFISA vs Stocks & Shares ISA
| Feature | IFISA | Stocks & Shares ISA |
|---|---|---|
| Typical underlying assets | P2P loans, property-backed lending, qualifying debt | Funds, shares, ETFs, bonds and other eligible investments |
| Risk source | Borrower/default, security and platform risk | Market price movements and fund/issuer risk |
| Diversification | Often loan-book / deal dependent | Often fund or portfolio based |
| Liquidity | May rely on repayment, secondary markets or queues | Depends on holdings; listed assets may be more readily sellable |
| Pricing | Target returns / deal terms — not market-marked in the same way | Market or fund unit prices |
| Income | Interest / lending returns where available | Dividends / interest depending on holdings |
| Capital growth | Not the usual objective of loan-based IFISAs | May be a primary objective |
| ISA transfers | Provider-specific; often cash transfers | Cash or in-specie options can vary by provider |
| Fees | Platform, ongoing, exit and recovery costs may apply | Platform, fund and dealing charges may apply |
Neither wrapper determines whether an investment is suitable. The underlying assets and your circumstances matter.
ISA transfers
Can you transfer another ISA into an IFISA?
Many IFISA providers accept transfers from existing Cash ISAs, Stocks & Shares ISAs and other IFISAs, but rules, minimum amounts and processing times vary.
Cash ISA
Usually transferred as cash through the official ISA-transfer process.
Stocks & Shares ISA
Investments may need to be sold before cash is transferred, depending on the providers involved.
Existing IFISA
Transfer procedures depend on the investments and provider terms.
Do not withdraw ISA money yourself if your intention is to preserve its ISA status. Use the provider's official ISA-transfer process.
ISA transfer comparison
IFISA provider transfer support
Transfer minimums and fees can differ from ordinary investment minimums. Check provider terms before starting a transfer.
| Provider | Transfer in? | Cash ISA? | Stocks & Shares? | IFISA? | Minimum transfer | Transfer-in fee | Transfer out |
|---|---|---|---|---|---|---|---|
| Loanpad | Yes | Yes | Yes | Yes | £500 | £0 charged by Loanpad for transfer in | Supported |
| Kuflink | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| FOLK2FOLK | Yes | Yes | Yes | Yes | £20,000 | No transfer-in fee identified | Supported |
| CrowdProperty | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| Invest & Fund | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| Rebuilding Society | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| Proplend | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| BLEND Network | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| Crowdstacker | Yes | Yes | Yes | Yes | £100 | £0 transfer-in fee | Supported |
| Crowd2Fund | Yes | Yes | Yes | Yes | — | Verify current transfer-in fee | Supported |
| Money&Co. | Yes | Yes | Yes | Yes | £1,000 | Verify current transfer-in fee | Supported |
| CapitalRise | Yes | Yes | Yes | Yes | — | £0 IFISA opening fee; existing provider may charge transfer-out | Supported |
Investment minimum shown separately on provider cards (for example Loanpad: No account minimum). Transfer figures above are ISA-transfer minimums only.
What does a flexible IFISA mean?
ISA flexibility generally relates to whether certain withdrawals can be replaced without using additional ISA allowance, subject to ISA and provider rules.
Flexible ISA does not mean the underlying investment is easy access.
ISA flexibility
Tax-wrapper subscription treatment under applicable ISA rules.
Investment liquidity
Whether the underlying investment can actually be sold or repaid.
How easily can you access your money?
None of these mechanisms should be assumed to guarantee immediate access.
Loan repayment
Capital returned as borrowers repay.
Secondary market
You may be able to sell to another investor.
Withdrawal queue
Platform seeks available liquidity.
Notice account
Access after a set notice period.
Hold to maturity
Normally remain invested until repayment.
What fees should you compare?
A provider can charge no fee to open an IFISA while still charging ongoing, transfer, exit or recovery-related fees.
Platform / ISA fee
Charges to open or administer the IFISA wrapper.
Ongoing investor fee
Annual or percentage fees while money remains invested.
Secondary-market fee
Charges when selling or transferring an investment early.
Early-access fee
Fees linked to notice periods or accelerated withdrawal terms.
Transfer fee
Charges for transferring an ISA in or out.
Recovery / default costs
Costs that may reduce recoveries if borrowers default.
The IFISA is only the wrapper — understand the investment underneath
Do not assume these investment types have equivalent risk.
P2P business loans
Risk is driven by borrower creditworthiness and platform underwriting.
Property-backed loans
Security depends on property value, loan-to-value and enforcement outcomes.
Property-development loans
Construction, planning and sales risk can be higher than standing-asset lending.
Crowdfunding debt
Issuer and structure risk vary by security and ranking.
Alternative finance
Structures differ — read the specific investment documents.
Qualifying cETNs
Cryptoasset ETNs can be highly volatile and are restricted mass-market investments where available.
Cryptoasset ETNs can be highly volatile and are categorised as restricted mass-market investments. Availability inside an IFISA depends on the ISA manager and regulatory requirements.
What are the risks of an IFISA?
Tax treatment depends on individual circumstances and rules can change.
Capital loss
You could lose some or all of your money.
Borrower default
Borrowers or issuers may fail to repay.
Illiquidity
You may not be able to access funds when you want.
Platform failure
The provider or platform can fail.
Property / security risk
Security may not cover losses if values fall or enforcement is delayed.
Concentration
Exposure to few loans or sectors can magnify losses.
Target return risk
Target returns are not guaranteed.
Cryptoasset risk
Where cETNs are offered, volatility and product restrictions can be severe.
Tax-rule change
Tax treatment depends on individual circumstances and rules can change.
Does the FSCS protect an IFISA?
Do not assume the FSCS covers losses on the underlying investments held in an IFISA.
- The ISA wrapper itself is not an investment guarantee.
- Loss caused by borrower default or investment performance is different from claims that might arise against a failed regulated firm.
- Consumers should check the FSCS position for their exact circumstances.
Before choosing an IFISA
- What does the IFISA actually invest in?
- Could I lose all my capital?
- What is the minimum investment?
- Is there a separate minimum ISA transfer?
- What target return is shown?
- Is the target before or after fees?
- How is my money diversified?
- Can I select investments manually?
- How long are investments expected to run?
- Is there a secondary market?
- Is there a withdrawal queue?
- Does “flexible” refer only to the ISA wrapper?
- What investor fees apply?
- What exit fees apply?
- What happens if a borrower defaults?
- What happens if the platform fails?
- Does the provider accept ISA transfers?
- Which ISA types can I transfer?
- Who is the ISA manager?
- When was the information last verified?
- Can I afford to lose the money?
Common questions
Common questions about Innovative Finance ISAs
Our methodology
How we compare Innovative Finance ISAs
We do not rank IFISAs simply by the highest advertised target return. Commercial relationships do not determine factual provider information.
- Underlying investment
- Minimum investment
- Minimum ISA-transfer value
- Target return
- ISA transfer support
- Diversification
- Manual investment selection
- Access arrangements
- Secondary markets
- Flexibility
- Platform fees
- Ongoing fees
- Exit fees
- Investment terms
- FCA status
- ISA manager
- Regulatory restrictions
- Source freshness
Editorial trust
How we review IFISAs
Provider information last checked: 2026-08-10
- Fees checked
- 2026-08-10
- Transfer rules checked
- 2026-08-10
- Access terms checked
- 2026-08-10
- Regulatory status checked
- 2026-08-10
- Underlying investments checked
- Transfer rules checked
- Minimum investment checked
- Fees checked
- Access terms checked
- FCA / ISA-manager details checked
- Source date recorded
Official sources
GOV.UK — Individual Savings AccountsGOV.UK — Innovative Finance ISA investments for ISA managersFCA RegisterFSCSSpotted an error? Email contact@witfinancegroup.com
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