Earn £25 with Funding Circle

February 28th, 2012
Funding Circle

Time has almost run out for the Funding Circle cashback offer which is due to expire on the 1st March.  It has been extended a few times but it may have now run its course.  The offer allows lenders to earn £25 of John Lewis vouchers if they have £1000 or more lent out on 31st March.  There are further cashback offers available for higher amounts of money on loan.  For details check the P2P Money Cashback site.

RateSetter expand their product range

February 23rd, 2012
RateSetter

With their latest upgrade, RateSetter have expanded their portfolio with a 5 year term product and a novel 1 year bond.  At the start of the year we predicted that there would be a new product and this bond certainly fits the bill.  RateSetter state on their website:

The 1 Year Bond is a fixed interest product with capital and interest paid at the end of the term. The 1 Year Bond is used in tandem with the Monthly Access market to create 18 and 24 month loans. We expect it to be popular with Lenders who are looking to realise an enhanced return with a lower level of access than the Monthly Access option.

I promised not to spill the beans yesterday when told the latest exciting news.  I believe this will certainly go a long way towards bringing P2P lending to individuals who are more familiar with standard saving products such as 1 year bonds.  Full marks to RateSetter, who again demonstrate they are a leader in the P2P arena.

More milestones

February 23rd, 2012

There have been a few more milestones achieved this month.  Funding Circle have just passed £25 million, and YES-secure (soon to be Encash) have passed £½ million, in loans.  Well done to both companies for achieving these milestones.  Later we hope to comment on some other exciting news in the P2P arena - watch this space.

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Fall in love with lending

February 14th, 2012

Okay lets admit it - banking and money has to be a pretty dull subject.  Contrast that to something like eBay where you are bidding on a item that you want and you are offering a fair price.  There is a certain amount of satisfaction when you win.

With the like of Funding Circle you are also in an auction.  You are (for example) offering £40 at 9.9% (before fees,tax and bad debt) and the deadline is approaching.  There is a frantic rush of lenders trying to undercut each other, knocking off higher rates one by one.  The auction closes and you find that you have "won" lending your £40 at 9.9% !

Not all peer-to-peer lenders operate the auction (listings) model, as some such as Zopa and RateSetter prefer to rely on a market, however there is still some excitment when you find out your lending offer has been successful.

Check out the latest rates on peer-to-peer lending to see how you can make your money work a bit harder.

YES-secure to rebrand as Encash

February 11th, 2012
Encash

Following on from the Funding Circle rebranding, and as we previously reported last year, YES-secure has announced that it is to rebrand as "Encash".  Here is their statement on their forum:

YES-secure is coming up with a transparent social lending platform with scintillating new look and easy-to-use UI, as "encash".
The enhancements are termed as the re-branding of YES-secure.
The Press launch date is 1st March 2012.
For more details on the launch visit the link below:
http://www.prweb.com/releases/2012/2/prweb9168177.htm

When we have any more information we'll let you know, but certainly the new logo is an improvement on the old one.