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  • How much can I transfer in of my existing ISA(s)?

    A minimum of £20,000 in existing ISA money can be transferred from other ISA providers to your FOLK2FOLK IFISA, in multiples of £5,000.

  • I want to withdraw my IFISA funds, will they retain their tax-free status?

    Upon maturity (or early repayment) of the loan, your IFISA funds will be returned to the FOLK2FOLK client money account and you will be contacted to establish what you wish to do with these funds.

    You may want us to return them to you or retain them for reinvestment into another FOLK2FOLK loan. If you request to withdraw your IFISA funds and have them returned to you, they will lose their tax-free status from the date of closure/withdrawal.

    If you wish to have your IFISA transferred to another ISA provider (fees apply), ensuring this is completed using the transfer form supplied by the new ISA provider, then the ISA will retain its tax-free status.

    Note: Tax treatment depends upon your individual circumstances and may be subject to change in the future. If you are looking for specific financial or tax advice regarding your IFISA funds, contact an IFA or tax advisor.

  • Can I access my money early?

    If your funds are invested in a loan and you wish to withdraw or transfer to another ISA provider from the loan early, you can offer your investment loan for sale to other FOLK2FOLK Lenders via our secondary market (Hyperlink to Accessing Your Money page). Fees and conditions apply. 

    However, there is no guarantee that another Lender will purchase your loan investment. In this case, you will need to remain in the loan until the Borrower redeems.

  • How long does it take to begin earning interest with a loan investment?

    It is not possible to give an accurate wait time for a loan opportunity to be offered to Lenders as wait times depend on the following:

    • Supply of good quality Borrowers who are ready to get a peer to peer loan.
    • We are committed to matching our lenders with the best-suited Borrowers. As our borrower’s meet the highest level of standards, we invest as much time is needed during the matching process. This means we cannot provide you with a wait time for a loan to be offered to you.
    • Number of Lenders ahead of you in the queue.
    • From time to time a loan may fall through at the last minute and the Lenders who would have gone into that loan will remain at the top of the queue.
    • As loans are redeemed our Lenders often choose to reinvest and so are added to the queue.
    • Borrower demand can be seasonal.

  • Is there a fee to have an IFISA?

    Yes. We charge an Annual Administration fee that is 1% +VAT of the subscription amount and is payable annually.  The fee will be capped at a maximum of £1,000 +VAT per year and calculated on a pro-rata basis from the date your funds are received. 

  • How do I transfer my IFISA funds from FOLK2FOLK to another provider?

    If your funds are held in the client money account and not invested in a loan, you may transfer them to another ISA provider using the transfer form supplied by them. Before transferring your IFISA funds, review the associated fees, and see our Terms & Conditions for full details.