For many, the prospect of retirement evokes images of rocking chairs, time spent in the garden, playing golf, and deservedly bearing the fruits of relaxation for 40-odd years' labour.
As a responsible lender, we take into account your personal circumstances when applying for a loan with us. To help us do this, applications are assessed using a process called credit scoring.
The peer-to-peer lending sector is regulated by the Financial Conduct Authority (FCA). The FCA rules mandate 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.
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.