Please note: retail investor lending is no longer available for new customers. For more information, read here.

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Frequently Asked Questions

  1. What’s happening to my money? Is it still safe?

    Your money will continue to be looked after in the same way it always has been. This remains a top priority. To read more about how we manage risk, please click here

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  2. Will I keep earning interest?

    Yes. All funds remaining in your accounts that are currently loaned out will continue to earn interest the same way they do today.

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  3. What do I need to do?

    You don’t need to do anything. If you leave your account untouched, your funds will continue to earn interest and pay back as they do today. All settings on your account will remain untouched, however you may wish to log in to your account to check how these settings are working for you.

    If you want to invest in loans that other retail investors are selling via our secondary market, you can do so in your ‘Lender Settings’ in your Lending Works account, then selecting to ‘Automatically’ invest your money.

    If you do not want to invest in loans that other retail investors are selling via our secondary market, you should set your Lending Works account to automatically return your money to your bank account. You can do this by: 

    • Sign into your Lending Works account at
    • Once you have signed in, click on ‘Lending Settings’ in the top left of your Dashboard
    • On the Lending Settings page, in the first section click ‘Manually’, in the second section click ‘Withdraw repayments (income)’ and then choose to receive your money monthly or weekly in the third section. ”

    If you wish to remove your money from Lending Works, you may wish to check that your nominated bank account details are up to date, as this is the account you will be paid into. You can do this by signing into your Lending Works account at and reviewing your account details.

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  4. How can I get my money back?

    If you want to access your money early, you can use the Quick Withdraw feature. This will return your investment to your wallet straight away as long as there are sufficient funds sat in the lending queue. If you wish to access funds in your Classic account, you will be free to transfer money from your Wallet to your bank account manually or via Auto Income, as you can today.

    If you wish to Quick Withdraw from your ISA account this is possible, but the money will lose its ISA status. Please see the ISA section for more detail.

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  5. Can I sell all of my loans?

    All loans that you have invested in that remain up to date are eligible for sale through the Quick Withdraw functionality. However, any loans that have missed payments and are in arrears will not be immediately eligible for sale.
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  6. Will I be charged for this?

    All servicing of active investments will continue to be carried out for no fee. Quick Withdraw fees remain untouched and will work exactly as they do today. 
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  7. What if I want to keep lending?

    You can; however no new loans will be allocated to retail investors. If you choose to turn on the ‘auto-lend’ functionality in your account, your funds will be added to the lending queue, and will be matched against loans that have been sold using the Quick Withdraw functionality.
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  8. Can I deposit more money?

    No. As of today, we are not permitting customers to add funds to their retail investor accounts and they would not be used to fund loans. If you have any regular payments set up with your bank please ask your bank to cancel them.
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  9. What happens to my ISA?

    Customers who have an ISA with Lending Works and wish to retain this money within the ISA wrapper will be required to perform ISA transfers out to another provider when they transfer money away from Lending Works. Please note: funds subscribed in the current tax year (ending 5 April 2022) need to be transferred in full, along with any interest earned on those funds, whereas past years' ISAs can be transferred in parts.
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  10. What happens to my Lending Works loan?

    Nothing. All loan customers will continue to be serviced exactly as they are today.
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  11. What happens if a loan defaults?

    If a customer you are lending to misses a payment or defaults, The Shield will continue to act as a contingency fund, as it does today. For more information about how The Shield works, please click here.

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  12. Why are you doing this?

    Lending Works has been one of the UK’s most prominent peer-to-peer lenders, and it is with a heavy heart that we have decided to step away from this market. However, the dynamics of the peer-to-peer market have changed markedly in recent years, with retail investor participation steadily waning. This has been exacerbated by the Covid-19 pandemic. We now need to utilise alternative funding sources to ensure that we can provide our loan customers with the service they need.
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  13. Are there any additional risks?

    Throughout the run-off we will closely monitor the performance of our Loans book to ensure our retail investors continue to receive good outcomes. This will include monitoring the level of funds in the lending queue, which enables customers to use the Quick Withdraw functionality to access their money early by selling their loans to other willing investors.

    Based on the level of funding available, previous trends in this market and the fact customers will continue to be able to earn interest by reinvesting, we believe it to be unlikely that this lending queue will run out. If this changes, or if the number of investors reduces to the point that investments are less diversified, we will take action to reduce the risk to customers.

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