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Proplend granted full FCA authorisation


Proplend has been granted full authorisation from the Financial Conduct Authority (FCA) for peer to peer (P2P) lending, paving the way for the launch of its Innovative Finance ISA.

The P2P lending platform connects investors directly to creditworthy borrowers.
Brian Bartaby, Proplend's founder and CEO, says: "After a comprehensive approval process, we are delighted to have reached this significant milestone. The granting of full authorisation demonstrates to current and future investors that Proplend's regulatory and operational infrastructure has met with the highest standards demanded by the FCA."
Proplend offers lenders the ability to invest across up to three loan to value based risk tranches – all loans supported with the security of a first legal charge over an income producing UK commercial property.
Bartaby adds: "We believe that the rates of return offered in even our lowest risk Tranche A (0-50 per cent LTV) will prove very attractive to ISA investors in the persisting low interest rate environment."
Proplend will now submit an application to HMRC to become an ISA manager and offer the Innovative Finance ISA (IF ISA) in due course.
Proplend specialises in sub GBP5 million, secured commercial property loans. 

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