Zopa has announced that it has over £150m in total outstanding in IFIsa loans since the P2P lending
This comes as HMRC revealed that there was a total of £290m invested in IFIsas in 2017/18, an increase on the £36m recorded in 2016/17. HMRC figures also showed that 31,000 IFIsas were opened in 2017/18, with an average subscription per account of £9,355. By comparison, only 5,000 such accounts were opened in 2016/17, with an average subscription of £7,200. Since January this year, 50% of new customer funding into Zopa has been made via its Isa. Its IFIsa product now allows transfers-in of Isas from other providers. Natasha Wear, head of investment products at Zopa (pictured above), said: “These figures are further evidence of [the] fact that people want a reliable alternative to lower-return cash savings products or the volatility associated with investing on the stock market.
