Clutching at straws here but this is a popular place and maybe someone will know or have experience of this..

My local non incorporated sports club urgently need to raise a substantial amount of cash to secure their premises.

I have been looking into the issue of a five year non interest payable bond. Offered to the membership (not compulsory) and with no benefits (for tax reasons).

Anyone had any experience of this or offer any kind of advice please?

I suggest you speak to finical advisor and get proper advice unless one of those happens to be on here and want to give the advie for free.

That sort of thing isnt really within an IFAs remit. Just need to know the rules and process on issueing a non interest bond, together with implications on the club.