People Making Business Decisions

'Right to withdraw' periods

The peer-to-peer lending sector is regulated by the Financial Conduct Authority (FCA). The FCA rules include mandating all peer-to-peer lending platforms to offer borrowers a 14-day 'right to withdraw' period, during which they can withdraw from their agreements without penalty if they change their minds.

Here at Lending Works we are fully supportive of the FCA regulation, and in particular anything which allows consumers to make more informed financial decisions. In fact, Lending Works already provided its borrowers with a 14-day right to withdraw period before the FCA rules were even in place. We hope this mandatory right to withdraw period will encourage more people to consider using peer-to-peer lending platforms over traditional financial institutions.

How it works

Once loan agreements have been formed, borrowers have 14 calendar days from the start date of their agreement during which they can cancel without penalty. They can do this in any one of the following ways:

  • Email us at
  • Call our Customer Services team on 020 7096 8512
  • Write to us at 60 Gray's Inn Road, London WC1X 8AQ

Once we receive notice that you wish to cancel your agreement, we will ask for amounts borrowed to be returned to us. Once we receive the funds our system will automatically unwind your contracts - lenders will automatically receive back all amounts lent and we will reimburse any fees charged.

Did you know?

Legally, lenders are allowed to charge interest from the start of your agreement up to the date notice is given by you to cancel your agreement. The vast majority of lenders will do this, however Lending Works will not charge interest during this period and all fees will be reimbursed by us so that no one is out of pocket. We believe this is fair for everyone.

Need more information?

If you would like further information please do not hesitate to get in touch with us using the contact details provided in the Contact Us section at the top of this page.

Our website offers information about saving, investing, tax and other financial matters, but not personal advice. If you're not sure whether peer-to-peer lending is right for you, please seek independent financial advice, and if you decide to invest with Lending Works, please read our Key Lender Information PDF first.

As with all investments, your capital is at risk.