Frequently Asked Questions
What type of ISA is being offered?
Please note that each individual is only allowed to invest in one Innovative Finance ISA in any tax year. However, you are allowed to transfer savings from other types of ISAs (Cash, Stocks and Shares) into an Innovative Finance ISA at any time.
What is my ISA allowance?
Is there a limit on the value of any transfers into an Innovative Finance ISA?
Is an ISA transfer a complicated process?
How do I set up or invest through the Choices ISA?
Is there a minimum level of investment?
This investment can be in the form of cash investment, transfers from existing ISAs or a combination of the two.
What are the set up and annual management fees?
The cost of managing the Choices ISA will be met by the borrowers and only after investors have had their 7% annual return. As such, Choices has its interests aligned with investors in the financial management and performance of the Choices ISA.
Is the 7% annual return net of fees?
How can I monitor my investment in the Choices ISA?
What is asset backed lending?
What this means is that the loan is secured upon the assets within that business. If for any reason the business cannot repay the loan the assets can ultimately be sold and the proceeds realised applied towards meeting debts.
From an investment perspective, having the ultimate loan asset backed is a way of minimising risk as you know that there are likely to be valuable assets within the business securing any loan issued.
Please note that the fact that the bond is asset backed would not guarantee that all capital would be repaid. This also means that there is a liquidity risk and there is likely to be a delay in repaying your capital should you request it.
Who holds the security for each loan?
The All Monies Debenture includes security over all of the loans advanced from the Bonds held by the Choice ISA Investors.
How long are commercial loan terms?
Do I own shares in Choices ISA or Choices or Choices Funding?
Am I exposed to currency fluctuations?
What does compound interest mean? Why is it important to me?
What if I want to take out my funds out of the bond early?
In the event of serious injury, serious ill health, or disability consideration may be given to early redemption by Choices in its absolute discretion and in each case having the circumstances evidenced to its satisfaction.
It is extremely unlikely in any other circumstance that Choices will allow the early redemption of an interest in bonds.
In the event that there is in the future a secondary market for the bond, you may be able to sell your interest, on the platform, without penalty. At this stage there is no secondary market.
How does the ultimate financing process work?
Choices will be ultimately responsible for the approval process and monitoring on-going performance.
How has the Choices bond been designed to reduce risk?
Financing Business Growth
*Please be aware when investing that your capital is at risk and the value of your investment can go down as well as up. You may get back less than you invested.
When referring to “Choices”, we are referencing the bond issuer who is Choices Seven A Limited. Registered in England and Wales, company number is 11201770 and registered office address is Nexus House, 4 Brindley Road, Old Trafford, Manchester, M16 9HQ.
This webpage has been issued by the Company and approved for the purposes of Section 21 of the FSMA by Northern Provident Investments Limited.
Choices Funding is a trading name of Choices Funding Group Ltd which is the parent company of Choices Funding Seven A Ltd. Registered in England and Wales, company number 11201805. Registered Office: Nexus House, 4 Brindley Road, Old Trafford, Manchester, M16 9HQ
Choices ISA is a trading name of Northern Provident Investments Limited which is Authorised and regulated by the Financial Conduct Authority (no. 647948). Registered in England and Wales (no. 08807099). Northern Provident Investments Limited is registered with the Office of the Information Commissioner no. ZA287335. Registered Office: Northern Provident Investments Limited, Barclay House, 35 Whitworth Street West, Manchester, M1 5NG | Tel: 0800 0884676 | Email: firstname.lastname@example.org