Rates on Funding Circle start to rise

January 25th, 2012
Funding Circle

Lending rates on Funding Circle have started to rise as they now have 33 loan requests running for a total of £1.8 million.  I myself managed to get a loan rate of 13.8% for a B graded company only last week.  If that wasn't incentive enough for new lenders then (as mentioned previously) there are various cashback offers available for both new and current lenders.

Funding Circle offer £500 gift voucher

January 20th, 2012
Funding Circle

Funding Circle are running some more offers to lenders, both new and current.  Lend £5000 or more by 1st March and you will receive a £50 Virgin gift experience voucher.  Lend £10,000 or more by 1st March and you will receive a £150 Virgin gift experience voucher.  Lend £20,000 or more by 1st March and you will receive a £500 Virgin voucher.

However that isn't it.  New lenders are still able to sign-up through P2P Money Cashback and receive a £25 gift voucher if they have lent £1000 or more by 28th February in addition to the above rewards.  If that isn't a good idea to lend money with P2P then I don't know what is !

Good time to be a lender

January 13th, 2012

Following on from the previous post on the January rush, now is a good time to be a lender.  P2P Money would strongly encourage lenders to add a few pounds to RateSetter as rates have been rising to levels not seen since the summer.  RateSetter is the only major peer-lender with a provision fund which protects lenders from modest levels of bad debt.  You can see the effect of this by tweaking the bad debt multiplication factor on the comparison of lending rates and the net rate doesn't change until bad debt rises significantly.  Bad debt on RateSetter is 0.19% as of today and is well below their prediction of <1.4%.

Predictions for 2012

January 10th, 2012

P2P Money have now published their latest predictions for 2012.  They're not suggesting there will be tsunami, earthquakes, volcanoes, or the end of life as we know it.  They are however making some predictions on the future progress of peer-lending.  Take a read of the article and let us know what you think !

Zopa arrange £1.778million of loans in 4 days

January 6th, 2012

Zopa announced today that they have broken all of their daily and weekly records for peer-loans arranged through Zopa.  In only a 4 day week they have arranged a grand total of £1.778million in loans.  This is a further sign of the record growth and interest in peer-to-peer lending, and the January rush !

Zopa have remained competative by having the lowest borrowing rate for loans above £7,500.  P2P Money have now published an active summary of the borrowing fees as they can change daily.