There are all sorts of reasons why a P2P lending website may no longer be able to pay its bills. It might run out of start-up funding before it has started to earn enough money. It might succumb to better, more nimble competition. It might itself…
This week I received a newsletter from a popular money-saving tips website that said: “Peer-to-peer lending isn’t the only option for savers keen to earn more – there’s also investing to consider.” It was just yet another time that I’ve heard P2P being described as…
We’re not a P2P “industry news” site, but we do like to report news if it directly helps individual lenders to make better lending decisions, which is our entire raison d’être. A lot of news like this has occurred over the past six weeks or…
Some P2P lending sites have to make changes to satisfy the financial regulator, which could mean you sometimes have to wait weeks before all your money is lent. The Financial Conduct Authority has frowned upon pre-funded loans in some cases. “Pre-funded” means that either the…
Bad debt: that’s when a loan goes past just being “late” into what’s called “default” or “non-performing”, and even beyond – when not all that debt can be recovered and it is “written off”, never to be seen by lenders again. Bad debts are a fact…
The operators dealing with P2P lending in the Evolution SIPP, which is possibly the best pension for P2P lending, have just announced that they will not allow new P2P lending. In addition, other pension providers offering P2P lending might reduce or remove their services for non-advised…
If you’ve got a question for us, we always try to find time to give you a comprehensive answer, so please get in touch at contact@4thWay.co.uk Question from David, 4thWay user Wanting to know if I can open an ISA that will allow me to…
We at 4thWay are tough bordering on mean when we assess P2P lending companies. This is reflected in our recently upgraded P2P ratings. I want to tell you about these new PLUS Ratings, now shown in our comparison tables, so you know how you can use…
Assetz Capital has just introduced a new account allowing lenders like you and me to remove our money easily, called the Assetz Capital Quick Access account. The business and short-term property loans P2P lending website believes that this will enable us to exit loans within 24 hours…
This article is updated regularly. Last updated on 20 July 2015. Funding Circle is currently returning cashback to lenders on loans secured against property. There are currently four loans paying up to a record 10% interest and 2% cashback that Funding Circle grades as A+. (Scroll down to see them.)…
This article is updated as and when Lending Works changes its rates. Last updated on 20 July 2015. Lending Works* interest rates don’t change often, but it can be worth paying attention when they do. Today, the “super prime” personal loans P2P lending website has increased…
Today’s Budget does “just under half” of the £37 billion of cuts that Chancellor of the Exchequer George Osborne is attempting in order to clear the deficit. This tax-raising Budget puts pressure on both individuals and businesses: it’s more money going to pay old government debts…
RateSetter is going to pay up to £100 cashback to lenders who are signed up before 1 July 2015 – so if you’re not already registered but want to take part, you need to act now. The cashback offer will be on any money you…
Last update 25th June 2015. You thought that Zopa and RateSetter were the only P2P lending companies allowing you to lend to other people – rather than to businesses? Guess again. There are now 11 P2P lending companies (down from 12 due to TrustBuddy’s closure)…
Some Zopa news today, starting with the best bit: Zopa lenders are, on average, achieving higher rates than those projected by Zopa. Lenders exceeding targets Zopa removed its guaranteed rates at the beginning of this year, but its seems to be getting the hang of…
The Financial Conduct Authority – the UK body that regulates financial companies – has issued a warning that scammers are now operating in peer-to-peer. It writes, in its usually over-cautious way, that it “believes” that a company calling itself “Zopa Loans Reviews” is pretending to…
Wellesley & Co.*, a property bridging and development loans P2P lending website, is now reporting its first bad debt, although recovery prospects look good. Wellesley & Co., has matched money from individual lenders like you and me to borrowers in nearly 200 large property loans…
This is just a brief note to say that, this weekend, Wellesley & Co. has slightly dropped the interest rate on its 30-day notice account, which it calls its Easy Access account, from 3.66% to 3.55%. We wrote about Wellesley & Co’s other interest rate…
This article was updated on 2 May, to explain an additional interest rate change made by Wellesley on that day. Property P2P lending website Wellesley & Co. has increased interest rates on all its deals as of today, 1 May. Except for one deal which went…
Proplend has now launched a “secondary market”, which is where you can buy and sell existing loan parts. Previously, with Proplend, you could just lend your money at the start of a new loan and there was no secondary market where you could sell it…
