Are the interest rates fixed?
Yes, once your investment has commenced, the interest rate is fixed for the term of the investment.
General FAQs
What fees does Crowdstacker charge investors?
At Crowdstacker we do not charge fees to investors wherever possible. There are no fees to open a P2P Lending Account or an Innovative Finance ISA Account and we do not charge any fees for investing in our Peer to Peer loans, Bonds or Loan Notesinvestments, so every penny you invest earns interest. Here is a breakdown of our fees:
Innovative Finance ISA fees:
How does the Crowdstacker Innovative Finance ISA work?
The Innovative Finance ISA works in a simple and straightforward way. Basically you put your money into your Innovative Finance ISA account. You then choose business(es) to lend to via either bonds, loan notes or peer to peer loans from those available on the Crowdstacker platform. The business(es) pay you an agreed rate of interest throughout the term. Your investment is then repaid by the business(es) into your Innovative Finance ISA account at the end of the term.
How much interest will I receive with the Crowdstacker Innovative Finance ISA?
In order to earn interest on your Innovative Finance ISA money you will need to lend your money to one or more of the business(es) listed, either online though the Crowdstacker platform or via post by completing the relevant application forms, and hold these investments in your Innovative Finance ISA.
Does Crowdstacker charge any fees to open an Innovative Finance ISA?
It’s completely free to open an Innovative Finance ISA account with Crowdstacker.
Crowdstacker does not charge any fees to transfer ISA funds from previous or current tax years into your Innovative Finance ISA.
What happens to the investment under an ISA if a lender passes away?
An ISA ceases on the death of the investor. Any interest or gains in respect of investments in his or her ISA that arise (which in general terms means ‘paid’) after the date of death to the date of closure are not exempt from tax.
But there is no loss of exemption on interest, dividends or gains which arise before the date of death, including any gain treated as arising as a result of the death of the investor under the rules for investments in policies of life insurance.
Can I have an Innovative Finance ISA with more than one platform?
From 6 April 2024 investors have the flexibility to pay into the same type of ISA with different providers.
This removes the restriction on subscribing to only one ISA of each type per year, however all subscriptions must remain within the overall ISA subscription limit of £20,000.
What are the ISA limits?
The overall ISA limit of £20,000 can be split between a Cash ISA, a Stocks and Shares ISA, and an Innovative Finance ISA as the investor wishes.
Can I apply for an Innovative Finance ISA on behalf of someone else?
Strictly, all ISA applications must be made by the investor. But Crowdstacker may accept an application from someone holding a Lasting Power of Attorney (LPA) which has been registered with the Public Guardians Office and which gives the attorney the power to make the decision to open an ISA.
Crowdstacker will need to:
- see the LPA (or a certified copy of it) and retain a copy for their records in case the account is queried by HMRC auditors,
- check any restrictions on the LPA to see that it is broad enough to cover the opening of an ISA.
Can I make a withdrawal from my Innovative Finance ISA or P2P account?
When interest payments have been paid into your IFISA Account or your P2P account or you have un-invested money in your account, you are free to withdraw these cash funds at any time by going to ‘My Account’ and ‘My Investments’, and requesting a withdrawal by clicking on the ‘Withdraw Funds’ button related to your IFISA or P2P account.
Your funds will be paid out to your bank account within the next 8 business days.