BWCE latest solar bond offer – Now Closed
Our latest Solar Bond Offer is now closed, having raised £720,000 with a number of ISA transfers still to process. We are delighted that we will now be able to replace the commercial debt from SSE with people powered investment.
For Your Information – Bond Details
The bond will be for £1 million with an initial term of 5 years. It will have an interest rate of 5% a year, payable annually.
The bond will be used to refinance an existing loan that was taken out to fund BWCE’s first tranche of projects on schools and community buildings and to provide a small fund for new projects.
This investment will be available via the new crowdfunding platform Mongoose Crowd. Mongoose Crowd is an appointed representative of Share In Ltd which is authorised and regulated by the Financial Conduct Authority (FCA).
Three Ways to invest in BWCE’s latest solar bond offer
1. Via the new Innovative Finance ISA
Being able to invest through the Innovative Finance ISA (IFISA) is a new departure for our Community Energy bonds. The IFISA is a new type of ISA you can use to invest in various financial products including BWCE’s Solar Bond. You can invest part, or the whole, of your annual ISA allowance of £20,000 into the BWCE Solar Bond IFISA. This means that all interest earned by IFISA investments will be tax free.
2. By transferring an existing ISA
If you have an existing cash ISA that is not performing as you would wish Mongoose Crowd has just launched a new service that will enable you to transfer your existing ISA to the BWCE Solar Bond, and hold it in an Innovative Finance ISA wrapper. By doing this you will be able to retain all the tax free benefits available to holders of ISAs. For more information on the implications and benefits of transferring ISAs click here.
3. Via a Solar Bond not in an ISA ‘wrapper’
If you have already used up your existing ISA allowance for the year and do not want to transfer any of your existing ISA’s you can take out an investment in BWCEs solar bond without using any of the ISA ‘wrappers’ . In other words it would look like the previous Solar Bond offers. The only difference to the previous BWCE offers is that the interest is paid net of 20% tax. If you are a non-taxpayer you can, of course, reclaim any tax paid.
Whichever method you choose you will need to register first with the Mongoose Crowd platform but the process is relatively simple. If you get stuck you can find more information on how to transfer here or get help by calling 0330 223 0062, or emailing Mongoose Crowd.
All the details of the offer and to download a Bond Offer document go to the Mongoose Crowd website.
If you have any questions about this investment do not hesitate to contact us by sending us an email
Note, that investing in the BWCE bond puts your capital at risk. This means that you may lose some or all of the money that you invest. Read the full offer document, understand the risks and agree with the terms before investing. To find out more about our bond offer go to www.mongoosecrowd.co.uk
Any financial promotion contained herein has been issued and approved by Sharein Limited; a firm authorised and regulated by the Financial Conduct Authority (“FCA”). It is for informational purposes and is not an Official confirmation of terms.