ISA ChargesThe same Lender fee (10% of gross loan interest) that applies to our Classic account also applies to our ISA – there are no specific or additional charges for our ISA.
Unlike many ISA providers, we don’t charge for account opening and we don’t charge for transfers in – or for transfers out. There’s no charge for withdrawals of £50 or more but we will pass on bank charges (£0.40) for payments out of your IFISA under £50. We do reserve the right to charge for extra admin caused by Investor breaches of ISA rules (‘Voids’).
Summary of flexible ISA charges
- ISA Opening No charge
- ISA-Specific Fee No charge
- Transfer Ins No charge
- Transfer Outs No charge
- Withdrawals £50+ No charge
- Withdrawals under £50 £0.40 bank charge for each
- Voids incl. ‘repairs’ Up to £75 depending on the extra admin required
- Auto-Lend usage No charge
How we make our money
Proplend aligns itself with the interests of its Lenders by deducting a ‘Lender Fee’ equivalent to 10% of the monthly interest from all monthly gross interest payments – we get paid when you do. This is the same for both traditional Proplend investments and Proplend IFISA loan investments.
We also charge a 0.5% ‘Novation Fee’ for loan investments sold through the Proplend Loan Exchange (PLE). You will only incur this fee if you sell a loan investment before the end of the loan term.
————————————————–
