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ReBuildingSociety call for new lenders
ReBuildingSociety has been successful in attracting borrowers and demand has grown to such a level that the site has put out an appeal for new lenders to join, and take advantage of the excellent interest rates available. Activity on the site has been rising rapidly in the last two months, with over £500,000 advanced in September and October, taking its total to over £1.1million, but more funds are required to keep pace with businesses looking to borrow through its marketplace.
Nick Moules from rebuildingsociety.com said:
Our average gross return is up to 15.4% and lenders are now lending an average of £5,000 each. We’ve made a number of improvements to the user experience recently and our deal flow is increasing all the time. Now is definitely a good time to take advantage of these rates as they’re bound to drop over time.
There is no maximum investment in any one auction, with the minimum bid £10 and doesn’t charge lenders a management fee unlike some of the other peer-to-peer sites.