Loans & lending - what is available
In this section you will find information on lending and loans that are currently available on the site and how much/for how long you can lend or borrow, with indicative rates. New products will be added from time to time as we expand our offering.
When we have been running a while we will add website statistics, actual loan rates and actual returns on lending. All members of the Peer to Peer Finance Association have agreed to provide detailed annualised figures on arrears and defaults.
Term months From 2.00 To 22.00 in 3 month steps e.g. 12, 15, 18 Loan amount £ From 22.00 To 1 in £10 steps e.g. £1000, £1010, £1020 Rate nominal % From 4.2% To 8.1% based on market rates Rate APR % From 4.8% To 8.7% includes loan costs (not membership) Term months From 12,15,18,21,24,27,30,33,36,39,42,45,48,51,54,57,60 To in 3 month steps e.g. 12, 15, 18 Lend amount £ From £10 To no limit* in £10 steps e.g. £10, £20, £30 Rate nominal % From 4.3% To 6.1% based on market rates Ann. Rate % From 3.0% To 5.2% annualised rate incl fees & CS (not mem subs) Loans Description Total Number Total Value £ Confirmed Loans 21 44360 Matches 109 2600 Bids 1755 129800 Members Description Total Number Total Value Members 449 0 New Bidding Loan Requests 0 0
The above interest rates are based on typical rates available in the market after fees and assuming the Compensation fund covers any default and before tax.
We have only been operating a short while and these are our figures to date.
Year 2014 Actual arrears as a percentage of outstanding balances 0.0% The total of loan repayments more than 45 days late (but not defaulted) as a % of the outstanding amounts from loans made in the calendar year Expected lifetime defaults 1.5% Expected lifetime defaults amount as a percentage of total amount lent in the calendar year Actual default rate 0.0% Total defaulted loan amounts as a % of the total amount lent in the calendar year
All members of the Peer to Peer Finance Association have agreed to provide detailed annualised figures on arrears and defaults.