Perhaps the word 'fanfare' would be overstating the recent response to an uptick in UK savings rates.
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The issue of social care – and, more specifically, funding the cost of this care – is one which has become a major concern for our society.
There is barely a week to go until the conclusion of the 2017/18 financial year, which means that, as ISA season begins to hot up, time is running out to take advantage of your ISA allowance.
Following their inception at the end of the twentieth century, the popularity of ISAs initially soared.
At the Summer Budget in 2015, George Osborne had multiple nuggets of good news for investors in peer-to-peer lending (P2P), most notably the announcement of the new Innovative Finance ISA (IFISA).
Lending Works Blog
Product updates, business news, and current affairs.
As 2018 draws to a close, with our bellies full of Christmas turkey, it's only natural to look back on the past 12 months and reflect. No doubt, it's been a turbulent one economically and politically, and not everyone has had it all their own way.
A recent study by Which? (published by Moneywise) has shone a spotlight on the practices of banks and other high-street financial institutions regarding the way savers and borrowers are treated.
With each passing day, savers are filled with hope that substantial and sustained increases to Bank of England (BoE) rates are on the cards.
This past week, Lending Works cemented its place as one of the UK’s biggest peer-to-peer lending platforms, surpassing the £100 million mark in terms of pounds lent.
It all started one rainy Sunday morning in a small Farringdon office back in January 2014.
We’re thrilled to announce that, as of Monday, our five-year lender rate is increasing to 5.5 per cent – the highest level it has reached since August 2016.
Peer to peer
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Anyone who keeps an eye on best buy tables may have noticed some encouraging shifts within the savings section.
In personal finance, there are few greater challenges than stashing away enough money to last for the duration of one's retirement.
The issue of self-employed workers has been something of a political football in the past.
Investing
As 2019 moves into full swing, a big priority for every household should be to get their finances into the best possible shape.
Clearly there is one story which is dominating the headlines at the moment: Brexit.
After nearly a decade without a rise in Bank of England rates, savers have finally had some relief in the form of two increases over the past year.
Debates over the inter-generational divide in the UK are ceaseless, and are particularly prevalent when it comes to property.
Away from the noise of Brexit drama and market turmoil, a fascinating study on attitudes to retirement in the UK was carried out this week by Rathbones Investment Management.
Budget 2018 racked up a couple of interesting statistics. With a duration of 72 minutes, it was the longest in 20 years.
Finance
The issue of personal data, and more specifically data protection, has become a burning one of late - not least in the wake of the Cambridge Analytica scandal.
As an economy, we're a collective of buyers and sellers. One thing both parties have in common is that they want the process of making a payment to be as quick, convenient and safe as possible.
As the world's dependence on technology escalates, so too do the twin threats of fraud and cybercrime. And Brits, in particular, seem to be affected, especially so by the latter.
This week, Bitcoin breached the $12,000 mark for the first time. The total value of all Bitcoins is now approaching $100bn.
Undoubtedly the biggest driver of change over the coming decades will be Artificial Intelligence (AI) – a much-publicised subject, but also one which is often poorly understood.
The word ‘disruption’ is often associated with fintech, and sporting a positive connotation to boot.
Technology
As the adage goes, every 5-7 years, people forget that a recession happens every 5-7 years.
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A couple of weeks ago, industry regulator Ofgem introduced a new cap on energy prices.
The decision to raise Bank of England (BoE) rates at the start of August was ostensibly one that would bring relief to hard-pressed savers.
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Economy
Britons' obsession with home ownership is somewhat unique, and it is fair to say that many of our friends on the Continent are left perplexed by the importance we attribute to making the step up onto the housing ladder.
There are a number of statistics which emphasise the growing generational wealth divide in the UK; such as the projection that so-called millennials will be the first in modern history to be poorer than their parents.
Current affairs
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The issue of social care – and, more specifically, funding the cost of this care – is one which has become a major concern for our society.
There is barely a week to go until the conclusion of the 2017/18 financial year, which means that, as ISA season begins to hot up, time is running out to take advantage of your ISA allowance.
Following their inception at the end of the twentieth century, the popularity of ISAs initially soared.
At the Summer Budget in 2015, George Osborne had multiple nuggets of good news for investors in peer-to-peer lending (P2P), most notably the announcement of the new Innovative Finance ISA (IFISA).
Featured
Over the last decade, there can be little dispute that the reputation of mainstream banks – and particularly the so-called ‘Big Four’ (HSBC, Barclays, Lloyds and RBS) – is at its lowest ebb.
The idea of peer-to-peer (P2P) lending is a simple one; you lend money to those who wish to borrow, with a view to receiving a great return for doing so.
The peer-to-peer (P2P) lending industry is now regulated by the Financial Conduct Authority (FCA). The regulatory framework has been designed to protect customers and promote effective competition.
Loan underwriting is the process that we undertake to analyse all of the information provided by each loan applicant and their credit file to assess whether or not that applicant meets our minimum loan criteria. As part of that process all data is verified, analysed and summarised to paint a picture of each applicant.
When you earn interest from a regular bank savings account, for example, the bank automatically deducts basic rate tax (currently 20%) before paying your interest. With interest earned from peer-to-peer lending, tax is not deducted automatically so lenders will need to declare their income to HMRC.
Most popular
Perhaps the word 'fanfare' would be overstating the recent response to an uptick in UK savings rates.
As 2019 moves into full swing, a big priority for every household should be to get their finances into the best possible shape.
Clearly there is one story which is dominating the headlines at the moment: Brexit.
As 2018 draws to a close, with our bellies full of Christmas turkey, it's only natural to look back on the past 12 months and reflect. No doubt, it's been a turbulent one economically and politically, and not everyone has had it all their own way.
As the adage goes, every 5-7 years, people forget that a recession happens every 5-7 years.