RateSetter ISA to launch in February

January 2nd, 2018

RateSetter has announced details of their Innovative Finance ISA which will be launching in February.

Here is the email sent to existing lenders:

The RateSetter ISA will launch in February 2018 and will initially be exclusively available to existing RateSetter active investors. You will have until 5 April 2018 to invest your 2017-18 ISA allowance, up to £20,000, in a RateSetter ISA.

After April 2018, we will accept transfers of ISAs, which means that you will be able to transfer funds from all types of ISA accounts into your RateSetter ISA while retaining the benefit of the tax-free wrapper.

As a result of the launch of the RateSetter ISA, we will be making some changes to the Lender Terms to cover the new ISA product. We will let you know when the new terms go live and provide you with a copy.

There is still time for new customers join to RateSetter.  New customers can receive a £100 bonus when they invest £5000 or more.  Terms & conditions apply and this promotion ends 11th April 2018.  Capital is at risk.

RateSetter also provided an update of the composition of their loan portfolio.  The platform is best known for their personal loams which represent 71% of their total loan portfolio.  Business lending represents 12% of their loan portfolio, with property lending representing 13%.  Over the last 3 months property lending represented 32% of loans, which indicates that RateSetter has been increasing its property lending.

Preferred P2P Platform Award 2017

December 1st, 2017
Assetz Capital

We are pleased to announce the winners of the P2P money Preferred P2P platform award 2017, as voted for by members of the P2P Independent Forum. The winners are as follows:

WINNER: MoneyThing

RUNNERS-UP: Collateral, Assetz Capital

There is also a noteable mention for Unbolted, who showed the largest increase from the vote in 2016. Of the big three peer-to-peer platforms RateSetter and Funding Circle were fifth and nineth respectively, both rising from their vote in 2016. The highest place European platform was Mintos in eleventh.

The members of the P2P Independent Forum are some of the most knowledgeable individuals on peer-to-peer lending, and as such these awards should carry some weight. The winners of the P2P money awards 2016 were MoneyThing, Lendy (previously Saving Stream) and Assetz Capital.

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Vote for preferred P2P lending platform 2017

November 21st, 2017
P2P Independent Forum

There is still 2 weeks to go to vote for your preferred P2P lending platform!

The P2P money website is running another vote for the favourite peer-to-peer lending platform in 2017.  The winners of the vote in 2016 were MoneyThing, Saving Stream (now Lendy) and Assetz Capital.

As in previous years, we are running this vote on the P2P Independent Forum.  We chose the P2P Independent Forum as has the most experienced and knowledgeable peer-to-peer lenders anywhere, and therefore this award will carry some weight.

The poll will close at 6pm on the 1st December when the results will be announced.  The winners will receive a engraved trophy to add to their awards cabinets.

Latest cashback offers October 2017

October 17th, 2017

Over the last month we have seen a change in the peer-to-peer cashback offers available.  With Funding Circle pulling its cashback offer, RateSetter remains the only one of the big three to have an active cashback offer.  Technically Zopa still has a cashback offer but they are not accepting new lenders currently.

Zopa cashback

RateSetter, which obtained full authorisation from the FCA yesterday, changed its cashback offer in October from £50 cashback for investing £1000 to £100 cashback for investing £5000 within 30 days of opening an account.  They also set a sunset date for this offer as 11th April 2018.

The latest cashback offers include £25 with InvestUP and €55 with Flender.  There are a number of cashback offers for a smaller initial investment of £1000, including £50 with Landbay, £50 with Lending Works and £50 with Lendy.  For new lenders wanting to try out peer-to-peer lending there is £25 cashback with Rebuildingsociety just for signing up and verifying your identity.

It is important to remember that peer-to-peer lending isn't saving and your capital is at risk.  Terms and conditions apply to each of the aformentioned offers.

Flender convertible loan note cashback

October 3rd, 2017

Following Flender's successful launch in Ireland they are raising £2m for their launch in the UK.

Flender have put in place a €300,000 convertible loan with 12% interest rate and 20% discount on the conversion.  They are offering an opportunity to participate in the convertible loan note to their existing investors and larger lenders on our platform.

€150,000 of this loan note has been reserved for their existing equity investors and they are offering €150,000 to their customers.  In addition Flender are opening this to up to investors through the P2P money cashback website, where they will also earn €55 in cashback!  The minimum investment amount to participate in the loan note campaign is €5,000.

Investors should act fast as it is anticipated that this will fill quickly.