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.
Lending Works takes glory at Moneywise CS Awards…AGAIN!
Lending Works’ love affair with the Moneywise Customer Service Awards continued on Thursday evening, as we once again saw off some strong competition to scoop the ‘Best Peer-to-Peer Platform for Savers’ award for 2017 – making it the second year in succession that we have collected this prize.
Given that these Customer Service Awards – which pay homage to the country’s most trusted and best-respected financial services companies - are generally referred to as the Oscars of personal finance, and the ‘ultimate stamp of approval by the UK consumer’, the gong effectively confirms Lending Works’ place at the top of the tree in terms of P2P investment options for Brits.
But the plaudits didn’t end there, as we were later awarded the runner-up acknowledgement of ‘Highly Commended’ in the ‘Most Trusted Personal Loan Provider’ category – an honour which Lending Works has now received for the third year in a row.
This year, just under 50,000 consumers offered their feedback on banks, insurance firms and peer-to-peer lending platforms, making it the largest survey of its kind within the realm of financial services. Lending Works was shortlisted in two of the 29 categories on the night, and once again came away with coveted prizes in each. For that, we’d just like to say a huge thank you to our customers, and all those who took the time to vote for us.
Our founder and CEO Nick Harding, who was understandably pleased following the evening’s results, reflected with great pride on our platform’s achievements:
“It is always an honour to just be nominated at an occasion as prestigious as the Moneywise Customer Service Awards, but to be recognised as the best peer-to-peer lending platform for savers for a second time exceeds even our lofty expectations.
“The past year has been a difficult one for savers across the board, but every member of our dedicated team has been motivated to counter this trend by embracing innovation, world-class customer service, and other new initiatives to provide consumers with a market-leading alternative. This award serves as great reward for their efforts, and I sit here a very proud CEO.
“We’d like to thank all our customers for voting for us, and delivering such positive feedback. We have, and always will, put the customer first, which is the key driving force as we look to take things to new levels within P2P lending, and indeed the wider personal finance sector. Hopefully that will include winning the Most Trusted Personal Loan Provider award next year too!”
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.
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.
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 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.
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.