Zopa lenders have so far lent £800 million and this week their grand total interest earned hit £50 million. That’s since Zopa launched in 2005. But over one-third of that interest has been paid to lenders in the past year alone, as Zopa grows rapidly in size. Zopa has an incredible record. It would have… Read more
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Zopa Lenders Have Made £50 Million
RateSetter Now In A Pension
Low-risk RateSetter* has overcome considerable regulatory barriers to become the first personal loans P2P lending website to allow its lenders to lend through a pension. Indeed, two pensions. Lending through a pension means you pay no tax on the income you earn. Pensions come with additional costs though, so anyone planning to lend only very… Read more
Tax On Bad Debts Ends in Five Days
Here’s a short, but certainly sweet, article. I just had to pull a recent 4thWay® article explaining how 13% earned interest and 6% bad debts could leave you with a profit of less than 2%, all because we are taxed on the bad debts that we suffer directly. (That’s as opposed to bad debts paid for by bad-debt provision… Read more
1% Bonus On Lending Works if You’re 55+
Lending Works, one of the safest P2P lending companies, has just made two new announcements that are quite interesting – but only if you’re 55 or older, because they just apply to you. 1% bonus interest for new lenders If you join Lending Works and offer your money to lend before 30 April, you’ll earn a… Read more
New £1,000 Tax Break When P2P Lending
Savers were given a new tax break in the Budget on Wednesday, but it wasn’t clear at the time whether that was going to extend to your P2P lending. Zopa has told us today that it just received confirmation from the Treasury that it does include P2P lending! The following changes take effect on 6 April… Read more
20% Off Virgin Trains For Funding Circle Lenders
P2P lending company Funding Circle is now offering 20% off Virgin Train travel to people lending their money through its service. Funding Circle is the fifth largest net lender to businesses in the UK and it offers a low risk, market beating opportunity to individual lenders like you and me. The train ticket discount is… Read more
How The Budget Affects Peer-to-Peer Lending
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 from the interest we earn, much like banks already do… Read more
Landbay: Lend Instantly, Spread Risk Automatically
We needed to fill a few gaps in Landbay’s data in our detailed comparison tables, so today I interviewed John Goodall, CEO. Landbay is one of the safest P2P lending websites, focusing on high-quality residential buy-to-let landlords and properties. It has clear, strict lines in the sand that it won’t cross when deciding to approve… Read more
Get A Regular Income From Lending Works
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 and repayments of the actual loan back on a monthly… Read more
FundingSecure: 13% Loans This Week
This article is updated regularly with the latest loan opportunities. FundingSecure is a secured loans peer-to-peer lending company that helps you lend your money while securing it against valuable items, such as power boats, yachts, fine art and mansions. Although interest rates have averaged nearly 13% and bad-debt rates are high, just £358 of lender money has… Read more