Generally, individual lenders get their money lent out swiftly. However, it doesn’t always work out that way. One 4thWay® reader wrote this month: “I recently opened an account with LendingWorks, but no money has so far been lent out. I did contact them and they said…
With additional reporting by Matthew Howard. The Budget today contained several direct effects on peer-to-peer lending: No tax deducted automatically from savings Over the passed few months, the Treasury has been umm-ing and ahh-ing over whether to ask P2P lending websites to automatically deduct basic-rate income tax…
Additional reporting by Neil Faulkner. Lending Works now allows lenders to receive their interest payments directly as a monthly income. This will start from 6 April, which is just in time for our next Lending Works pay checks. Lenders can also choose to receive a combination of interest…
Unbolted now has a bad-debt provision fund to cover at least the first part of your lending losses. The fund will operate as a trust in the same way as the other P2P lending companies. The new pawnbroking P2P lending company already offers lenders protection…
Lending Works has probably completed around 1,000 loans in over a year. Late payments are inevitable, as are bad debts, and yet, despite the high number of loans, it has only just now got its first late payments. Today, late payments rose from zero to…
Additional reporting by Matthew Howard The University of Cambridge is making a reputation for itself in analysis of P2P lending and other “alternative finance”. It’s focus so far has really very much been on statistics that are of interest to the P2P lending companies, but unfortunately…
P2P lending company Unbolted, a pawnbroking offering that we wrote about in New Peer-to-Peer Pawnbroker: Unbolted, has now got off the ground with four small loans and one very large one. I’ll just summarise these loans now, so that you can get an idea of…
Landbay has today revealed a few of its key statistics that help us to better understand the low-risk, BTL property P2P lending company. We can now see the average size of the BTL mortgages we’re lending in through Landbay, rental coverage and now, at last,…
Here are the latest high-rate loans that are open for you to bid on from rebuildingsociety, the P2P lending company that finances riskier loans to businesses. C grade loan to spa centre This spa, beauty and health centre wants to borrow £25,000 for five years. The loan is…
Hargreaves Lansdown, a stockbroker as well as the UK’s largest investment fund “supermarket”, has added even more credibility to the P2P movement by confirming it will offer the service to its 675,000 customers. (A fund supermarket is a service that gives you access to lots…
The Financial Conduct Authority published its first report since it took over regulation of P2P lending. It visited five of the larger P2P lending websites to “assess the governance, management and controls of five market participants to understand the risk that the sector poses to our statutory objectives.”…
This morning I took a look through the Financial Ombudsman‘s complaints data to see if customers were complaining about any specific peer-to-peer lending companies. I tried over a dozen of the biggest names, including Zopa, RateSetter, Funding Circle, LendInvest, Wellesley and more. I found no…
It sounds like a train service, but it’s the latest P2P lending company to offer you the opportunity to do property loans. First Great National is a new peer-to-peer lending company focuses on developer loans with a maximum loan-to-value of between 70% and 80%. First Great…
Possibly the safest peer-to-peer lending company of them all, Lending Works, is increasing the interest rates from Monday 26 January. Lenders will then earn 5%. This is up from 4.3%, so it’s a big jump. It’s the interest rate you can expect after fees and…
New pension rules coming into effect in April 2015 will already allow retirees to spend their life savings in one go, once they reach the minimum age specified in their pension policies, which is usually 55-65. Now, one peer-to-peer lending company is giving even earlier…
Some peer-to-peer lending companies have had zero losses to lenders. They all have funds set aside to cover expected bad debts. And they have other protections, such as lending against property that can be repossessed if necessary. Of those, the ones that have the best 4thWay®…
FundingSecure is a peer-to-peer lending company has been lending your money while securing it against valuable items, such as power boats and mansions. Interest rates have been close to 13%, on average, but no lender has lost any money on loans gone bad. FundingSecure has three outstanding…
If you lent your money for five years in 2014, you probably got richer. If you started lending for fives in the safer, lower-rate P2P lending companies last year, you should have made at least 4% and it wouldn’t have been much trouble to make around…
While eyes have been focused on the upcoming P2P ISAs (tax-free lending), individuals lending through peer-to-peer have been able to lend tax-free in pensions for six months already. The latest peer-to-peer lending company to allow lenders to lend through a pension is rebuildingsociety. The higher-risk, higher-potential return…
Here are the latest high-rate loans that are open for you to bid on from rebuildingsociety, the P2P lending company that finances riskier loans to businesses. Lending on rebuildingsociety over the next ten days could give you a pre-bad debt interest rate of 16% to…
