What is an Innovative Finance ISA (IFISA)?   An Individual Savings Account (“ISA”) is a special type of account which acts as a “tax wrapper” around certain investments which allows any income and profits from those investments within the ISA to be free of income tax and capital gains tax.   There are six types of ISA available to consumers in the UK: a Cash ISA, a Stocks & Shares ISA, a Help to Buy ISA, a Junior ISA, a lifetime ISA and an Innovative Finance ISA.    Every tax year, you can split your £20,000 ISA allowance into some, or all, of the three main types of IS ..read more

When it comes to P2P, it’s a surprisingly optimistic time to be investing.    Even though the rest of the financial market is extremely volatile, hit hard by coronavirus and the lockdown, the P2P market remains mostly unaffected.    With high-quality portfolios or borrowers looking to improve their finances, and in-turn their financial wellbeing, investing in peer-to-peer allows you to confidently invest in people.    What Is Financial Wellbeing?  Financial wellbeing by definition is how your financial situation impacts or governs your quality of life.  ..read more

Whatever your financial status, COVID-19 has forced everyone to adapt to a new way of life.   Whether you’ve never cared about financial planning before, or you’ve lost a substantial amount of your income from being furloughed, there’s no better time to take control of your finances.    Take a look at our tips on how to reshape your budget - cover yourself now and protect your future finances.    Double check your outgoings   For the majority of people, the outgoings you normally pay on a monthly basis will have changed dramatically with the new rules of working f ..read more

Home Improvements in Lockdown  In 2020, we’ve found ourselves spending a surplus amount of time at home.   Thanks to the lockdown we’re able to dedicate time to those tasks we’ve left at the bottom of the DIY to-do list. And if you’ve got a few home improvement projects up your sleeve, then you wouldn’t be alone.    Two in five (38%) Brits have undertaken DIY or home improvement projects during lockdown.    Gardening was the most popular DIY activity  (57%) during lockdown, followed by spring cleaning (47%) and then (34%) painting or wallpapering rooms.   ..read more

  The impact of COVID-19 on the financial industry has been unprecedented. And investment portfolios across the board have taken a massive hit during this time.    However, our peer-to-peer platform has remained relatively untouched by the crisis. As investments in P2P rely on repayments from people and not on the market as a whole, Leap has remained stable during this incredibly volatile time.    The Peer-To-Peer Market During Coronavirus  Peer-to-peer platforms invest the lender's money to fund parts of multiple loans.    The interest accrued relies o ..read more

Investing may seem complicated or complex, but with a basic understanding you’ll be armed with the tools to take control of your future finances.   If you’re looking at saving for the long-term, investing your money could be an efficient and fruitful way to work towards your financial goals.   The best thing about investing is you don’t have to be an expert or know everything to get started. So, let’s explore the basics of investing in 2019.   What Are Investments? Investments are something put money into or buy to get a return.   The main types of investment include share ..read more

What Is Open Banking? Open Banking is the result of new rules that asked UK-regulated banks to easily and readily be able to share the transactional data of its customers.    Basically, banks have to be able to share the data to allow their customers to make more informed and better decisions about their finances. Although, it is entirely up to the customer whether their data is shared or not. Your bank cannot share your information without your permission.    The idea of the financial reform is to inspire competition and innovation in the FinTech sector. Since the rise of ..read more

From credit cards to personal loans, when you borrow money the amount you pay back will always be driven by the interest rate.   Interest rates can also be applied to savings and investments but instead you earn interest on your money.     Understanding how interest rates work will help you make better financial decisions and take control of how your money is working for you. In this guide we explore the following:   What is an interest rate? Interest rates for investors Compound interest Interest rates for borrowers   What Is An Interest Rate? For borrowers, the in ..read more

No matter what your employment situation is currently, it’s more than likely that COVID-19 has had an impact on that. And, perhaps more importantly, your finances.    Maybe you’ve found yourself furloughed and earning only 80% of what you were earning previously.    Perhaps you’re self employed and waiting to find out if you’re eligible for the income support scheme set up by the government in the wake of coronavirus.    If you’re sick, you may need to take time off work and will need to rely on statutory sick pay to keep your bills paid.    If you work ..read more

We’re all in this together. But we’re not, not really. Every single one of us is living through a different coronavirus lockdown experience, with different levels of financial security and employment.    Although, as we keep being told, coronavirus does not discriminate, but the coronavirus ‘lock down’ does. Any hint of financial trouble is exacerbated in these trying times.    Leap, as a responsible lender, believes that getting a loan from a P2P lender is not always the best alternative. As financial pressure mounts, getting a loan can impact your financial resilience by ..read more