Panel of Peers’ Powers And Responsibilities

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The members on the Panel of Peers are responsible to themselves and other lending peers like you for checking the following items three times per year each:

Comparison pages

  • Are the comparison tables complete? (OK, they're not finished yet, so that's a No right now).
  • Are the comparison results sorted correctly? (They should sort by 4thWay® PLUS Rating, where there is one available, and by interest rate.)
  • Is the information in the tables being kept accurate and up-to-date?
  • Are any risk warnings that we show fairly worded and clear?

Articles, guides and blogs

  • Are our reports truthful and the whole truth?
  • Are we reporting on the negative aspects of P2P proportionately, i.e. often enough and prominently enough based on the scale of the problem?
  • It's difficult to censor an opinion, because that could lead to us having to report the opinions of the Panel in our opinion articles, rather than our own. But the Panel could at least ask: are our opinions clearly being biased?

Commercial

We expect panel members to understand that 4thWay® has to be able to sell something! But that doesn't mean we can't be open and honest about it:

  • Is it clear what our commercial products are?
  • Is it clear how we make money?
  • Do we tell users often enough, and in the right places, how we make money?
  • Are marketing messages, articles, blogs or sponsored messages from P2P lending companies (if any) clearly labelled as such?
  • Are adverts (if any) clearly labelled as such?

Pointing out issues and forcing 4thWay to make changes

For all the above questions, individual panel members point out any issues to us that you observe that bother you personally.

If 4thWay® responds that we don't think it's an issue, and you don't like the reason we give, the Panel (once it has grown to a sufficient size) discusses the issue and can then agree to vote whether to force us to make a change.

If it votes to make us change it, and if it doesn't like our change, it can then discuss with us different changes and even vote to force us to make a specific change of the Panel's choosing. (Subject to the change not being too costly to implement. There's always a cheap solution.)

Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers “bonds”. Unlike its P2P lending service, its bonds don’t allow you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

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Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers two “bonds”, one of which is available as an ISA.

Unlike its P2P lending service, neither of these bonds allows you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

Got it

×

Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers two “bonds”, one of which is available as an ISA.

Unlike its P2P lending service, neither of these bonds allows you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

Got it

×

Why are Orchard’s interest rates different?

Orchard’s lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Orchard’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Got it

×

Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers “bonds”. Unlike its P2P lending service, its bonds don’t allow you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

Got it

×
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