In line with our risk management framework, today we published our Q4 2019 performance update.
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.
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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.
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The Lending Works Shield does not give you a right to a payment so you may not receive a pay-out even if you suffer loss. The Lending Works Trustee has absolute discretion as to the amount that may be paid, including making no payment at all. Therefore, investors should not rely on possible pay-outs from the Lending Works Shield when considering whether or how much to invest. For more information click here.