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
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How The Budget Affects Peer-to-Peer Lending
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
10 Years of Zopa: 10 Times More Interest Than Losses
Zopa, the oldest P2P lending company in the world – the one that started it all, right here in the UK – turned 10 today. Let’s look into how well it has contained losses, even during the worst recession for nearly a century, and how well it has rewarded lenders compared to savings accounts. I’ll… Read more
Unbolted Gets a Bad-Debt Provision Fund
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 from losses with gold loans by fully insuring them against… Read more
FundingSecure Lenders Suffer First Losses
Until recently, FundingSecure has been bragging that no lenders have lost any of their starting money. But it had to happen eventually. Now, a small number of lenders have collectively lost £512 of their starting money. Presumably all those lenders are up overall, because FundingSecure has matched over £4.4 million of lenders’ money since July… Read more
How First Late Payments at Lending Works Will Affect You
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 0.01% as a proportion of all outstanding loans. So it’s… Read more
UK Leading the Way on P2P Lending
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 as yet it has produced little to help small investors… Read more
Loans On Unbolted, a P2P Pawnbroker
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 the sorts of loans the company is currently matching. The… Read more