|« P2P companies feature in "Most Trusted Loan Provider"||New forum for peer-to-peer lending and borrowing »|
Encash / YES-secure are still silent
In the recent interview on Money Box on Radio 4 (where Ian Gurney of P2P Money and an Encash / YES-secure lender also made some comments) Chandra Patni, director and founder of YES-secure admitted mistakes had been made and explained their rational in reducing the maximum lending rates.
However despite this, there has still been no response to the growing number of comments and questions from lenders on the Encash / YES-secure forum. This will probably run on for a while, and we wish Encash / YES-secure and their lenders the very best in resolving their troubles, but this story isn't helping the peer-to-peer industry in the UK where this is a good rapport between lenders and the companies themselves.
Perhaps the real story should be that default rates for the mainstream peer-to-peer companies in the UK - Zopa, Funding Circle, RateSetter and ThinCats - while showing small signs of increase, are still excellent compared with their estimates, especially in a time of recession. We passionately believe that peer-to-peer lending is still a good deal for both borrowers and lenders.