For all the resilience the UK economy has shown, there is no doubt that this year's ISA season is set against a backdrop of uncertainty. Whatever the pros and cons, Brexit, and a lack of clarity on what our future economic relationship with the EU will look like, has left us at a crossroads.
Lending Works announces new bonus offer for lenders
It was with great pride that Lending Works collected the Best P2P Platform for Savers award at the Moneywise Customer Service Awards last month. The fact that these awards are generally referred to as ‘The Oscars’ of personal finance is a reflection of the esteem in which they are held, and it was very pleasing for us to have been given this stamp of approval by such a substantial pool of voters (50,000 across all 29 categories).
To celebrate this achievement, we’ve decided to reward all lenders – both new and existing – for investing their money with us courtesy of a lucrative new bonus scheme.
What does this bonus scheme entail, we hear you ask? Here are the details….
Starting on Monday 24 July, your Lending Works account will be credited with a £50 bonus for each calendar week in which you lend £5,000 or more through our platform. Given that this offer expires on Sunday 20 August, this means you can potentially earn a bonus of up to £200 for the four-week period, assuming you are able to lend out £5,000 or more in each of the four calendar weeks.
You can read the promotion Terms and Conditions by clicking here.
Rates are soaring too
However, in addition to this attractive incentive, you’ll also benefit from our outstanding rates of return. Due to our platform being able to unlock new channels of creditworthy borrowers, demand for Lending Works loans is higher than ever before. This, in turn, has seen our lender returns rocket to 5 per cent and 4 per cent for five and three-year investment terms respectively.
We must of course emphasise that, as with any investment, your capital is at risk, and not covered by the Financial Services Compensation Scheme. You will, however, be impressed with our excellent track record in returning every penny expected by lenders to them (on time, too), and with the protection afforded to you by the Lending Works Shield, we think this will bring you the peace of mind you need to take advantage of this exciting offer.
These were the thoughts of our CEO, Nick Harding, on how ‘The Best P2P Platform for Savers’ is leading the way in delivering a rewarding lender experience:
“On the back of our success at the Moneywise Customer Service Awards, we are very pleased to put forward this new incentive for lenders. At a time when interest rates on savings are stubbornly low, and stock markets remain volatile, peer-to-peer lending continues to buck the trend with stable, inflation-beating returns as a midpoint between the two asset classes in terms of risk and reward.
“The fact that Lending Works’ rates of return have soared in recent times is testament to the exponential growth we have enjoyed in 2017, and our ability to attract a steady flow of prime consumer borrowers. For lenders, this means the benefits continue to swell, and we look forward to helping many investors significantly grow their wealth over the next month – and beyond.”
Projected returns are not guaranteed. Lending Works is not covered by the Financial Services Compensation Scheme (FSCS).
AS WITH ALL FORMS OF INVESTMENT, YOUR CAPITAL IS AT RISK.
Related articles:
The housing crisis in the UK is widely mentioned in the media, but the extent of it is often underestimated.
The 2019 ISA season is now in full swing, and it's as good a time as any to focus on financial planning - and, within that, looking ahead to your retirement years to ensure financial security.
The Lifetime ISA (LISA), announced in 2016, would prove to be one of George Osborne’s last flagship gestures to UK savers and investors as Chancellor, eventually launching against a backdrop of anti-climax a year later in April 2017.
As the tax year end approaches, the financial services industry readies itself for a flurry of activity. That's in large part because, with just a couple of months to go, the so-called 'ISA season' is upon us.
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
On 13th January, the open banking era completed its first year in existence, so it represents a natural juncture to reflect upon the past 12 months
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.
