Ahead of the Financial Conduct Authority ( FCA ) launch of Innovative Finance ISAs ( IF ISAs ) on 6 April , it appears that at least seven of the major British peer - to - peer ( P2P ) lenders are still waiting for authorisation to launch the new products . Funding Circle , Landbay , Lending Circle , LendInvest , ThinCats , Ratesetter and Zopa , which collectively account for around 90 % of the British P2P market , will not be able to give savers tax - free returns on their loans until their applications are completed , and according a report in Your Money , none of them are currently able to give a time frame for that completion . ’s Peer to Peer Lending guide for more information.) An agency spokesperson said : “ We have received a very high number of applications from P2P firms , which together with recent regulatory changes , has created particular pressures on our approval process … we are working hard to get as many firms that meet our standards authorised as we can by 6 April . ”
Ahead of the Financial Conduct Authority ( FCA ) launch of Innovative Finance ISAs ( IF ISAs ) on 6 April , it appears that at least seven of the major British peer - to - peer ( P2P ) lenders are still waiting for authorisation to launch the new products . Funding Circle , Landbay , Lending Circle , LendInvest , ThinCats , Ratesetter and Zopa , which collectively account for around 90 % of the British P2P market , will not be able to give savers tax - free returns on their loans until their applications are completed , and according a report in Your Money , none of them are currently able to give a time frame for that completion . An agency spokesperson said : “ We have received a very high number of applications from P2P firms , which together with recent regulatory changes , has created particular pressures on our approval process … we are working hard to get as many firms that meet our standards authorised as we can by 6 April . ”