When it comes to investing, there are numerous questions that need to be asked, and lots of things which need to be properly understood before committing your hard-earned money
Shellshock vulnerability - We are Shielded
Shellshock is a security vulnerability recently discovered by a team of security researchers. This bug affects the majority of computers connected directly or indirectly to the internet. Our IT experts reviewed our infrastructure and updated the servers as soon as a patch was made available.
Security is our priority at Lending Works. We will keep our eyes open for any new developments and will react accordingly.
If you would like to read more about the Shellshock vulnerability, please have a look here:
http://www.theguardian.com/technology/2014/sep/25/shellshock-bug-heartbleed
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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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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.
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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
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