The Ehtical ISA: ‘Ethical’ IFISA launches offering seven per cent returns

A new ‘ethical’ Innovative Finance ISA (IFISA) is offering seven per cent returns by investing in UK care homes.

The Barbican ISA will focus on improving and restructuring specialist care homes across the country in a bid to ease the country’s long-term care crisis.

It has been packaged as a three-year bond offering a fixed rate of up to seven per cent tax-free per annum with no opening or management fees. This means that investors could accumulate up to 21 per cent in interest payments by the end of the bond’s term.

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It has been billed as an ‘ethical’ ISA, due to its core focus on refurbishing existing care homes, all of which are owned by the Barbican Group, and are monitored and accredited by the UK Government Care Quality Commission.

According to a Barbican spokesperson, the IFISA will “make a real difference to some of the most vulnerable people in the country.”

“There is an alarming care home crisis in the UK, which is putting a strain on our NHS,” the spokesperson said.

“At The Barbican Group, we have always been passionate about helping and supporting those people in society that need it the most.

“Investing in The Barbican ISA will allow us to continue to improve the structure and quality of care within our care homes and give us the capacity to expand our portfolio of properties, refurbish existing homes and reach even more individuals.

“Our IFISA gives investors a refreshing alternative to many of the cash ISAs on the marketplace which have historically low interest rates.”

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The Barbican ISA is now open for investments, with a minimum deposit of £2,000.  Northern Provident Investments will manage the IFISA, which is both asset and property backed.

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Last updated: July 3rd, 2018

Kathryn Gaw

Kathryn Gaw is a financial journalist based in Belfast, Northern Ireland. She has been writing about personal finance and investment trends for more than a decade, and her work has been featured in the Financial Times, City A.M., the Press Association, and The Irish Independent, among many other publications.

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