What our customers say
After researching, Lending Works offered the best balance of competitive returns and credible protection to me.
Protecting your money
Of all the things to worry about in life, lending your money shouldn’t be one of them.
The Lending Works Shield includes a reserve fund to cover any missed loan repayments,
and unique insurance which helps protect against some of the key reasons for borrowers defaulting.
The result? Every penny of capital and interest has been returned to our lenders since we launched in 2014.
However, please remember that the Shield does not provide a guarantee against investment losses and your capital is at risk.
How lending works
Accessing your money
Choosing where to invest your money is a very personal choice, as is deciding how you'd like to access it. We give you total flexibility in both investing and accessing your money.
Need to access your money early?
For a small fee of 0.6% or £20, whichever is greater, you can take some – or all – of your money back early, provided we can find other lenders to step in and take over your loans.
Want to take a regular income?
Automatically set your loan repayments to be transferred directly to your bank account weekly or monthly. Alternatively, take the interest payments as a regular income and reinvest the capital. Totally hands-off and completely free.
“Lending Works has improved the protection given to investors by launching extended insurance for all its loans”
“It has been another fiercely competitive year, but the likes of Lending Works continue to bring something fresh and more rewarding to the table."
Frequently asked questions
Do you charge fees for lending?
What are the risks involved with peer-to-peer lending?
We've summarised the key risks involved and how we've mitigated them in a helpful guide: What are the risks involved with peer-to-peer lending. If you have any questions please feel free to give us a call on 020 7096 8512 and speak with one of our friendly team.
What happens if a borrower misses their payment or defaults on their loan?
If a borrower defaults on their loan, the process is the same. If possible, a claim will be made on one of the Shield's insurance policies. The insurance policies protect against some of the key reasons for borrowers defaulting such as loss of employment, sickness, accidents and death.
Can I get my money back when it is still on loan?
There is a small fee for using Quick Withdraw of 0.6% of amounts withdrawn or £20, whichever is greater, and if the interest rates have changed since your loan was made you may have to pay the additional cost derived from this rate change. These fees will be taken from the money that you are withdrawing and will be clearly stated at the time of request.
Will I have to pay tax on my P2P income?
Please note that the tax treatment of your income depends on your individual circumstances and may be subject to change in the future. Find out more in our Quick guide to paying tax on P2P income.
Peer-to-peer lending is also afforded certain tax exemptions courtesy of the Personal Savings Allowance, along with the Innovative Finance ISA.