How this website works
Peer to Peer Lending – What is it?
Lots of people lend small amounts to a number of creditworthy borrowers and we manage the whole process from credit and ID checks to repayments and interest distribution.
Why Consider Peer to Peer Lending or Borrowing?
Technology enables us to be more efficient, which lowers costs, which we can pass on to our lenders and borrowers.
Make your money work harder, with a sensible balance of cost, risk and reward.
For creditworthy borrowers:
A fair environment for affordable borrowing.
Real people helping other real people to achieve their goals.
How does it work for Lenders?
- Read our Safety & Risks page first and then register as a Lender.
- Decide how much you’d like to invest and transfer funds for lending into your holding account.
- Choose your lending products – invest for 1 to 3 years or 3 to 5 years.
- The site will match your funds according to the lending products chosen.
Borrowers are creditworthy individuals, mainly A*-B range but we may include those at high end of C. Lenders may find they have a small slice of many loans or on occasions, larger slices may be allocated.
- Receive repayments (principal & interest) monthly, withdraw free of charge or automatically reinvest.
- Need your money back before the end of the loan term? Some of your loans will be sold to other lenders (small fee, see our fees page for details) and, subject to lenders being available to purchase them, the proceeds from the sale will be transferred to your holding account.
“Just a note to express my gratitude to all at Madiston for the excellent service you provide to lenders.” David from Tunbridge Wells
How does it work for creditworthy Borrowers?
- Start by getting your Personalised Quote. A ‘soft search’ leaves no footprint on your credit record and we tell you if you’re likely to get a loan and a guideline interest rate.
- If you want to go ahead, complete the registration process and create your loan request.
- ID verification and full credit scoring takes place and the actual loan APR% of your loan is calculated.
- The site will match your loan request with lenders’ funds.
- Accept or decline the loan. Once accepted, the Direct Debit for your repayments is set up.
- Speed of getting your loan into your bank account depends on lender funds being available at Step 4 but it could be less than 48 hours.
“straight forward and stress free” Geoff from Derbyshire
Our quest is to:
- Provide the best website for quickly matching creditworthy borrowers with lenders
- Have a safe lending site with low default rate
- Inform customers precisely what is happening at all times online or by email
- Execute secure & segregated client money facilities & speedy transfers
- Combine affordable fees with service excellence
- Constantly improve the site with enhancements, innovations, new products & markets
- Quickly & fairly solve any problems that may arise