Peer-to-Peer Lending with Lending Works

With interest rates remaining low the question in savers' minds these days seems to be "How can I get more from my money?"

Cue Lending Works...

A peer-to-peer lending platform that allows you to earn up to 6.4% with market leading protection including default risk insurance. This means you can lend money to individuals and get a decent return in exchange.

After a quick search online the highest interest rate I could find was 3% and that was with extra restrictions on the amount of money allowed in the account. So if you're willing to lend your money you could earn more than double that available in regular savings accounts.

There are no fees for lending your money through Lending Works and the insurance covers against borrower defaults, fraud, and cybercrime. 

Your capital is at risk because it isn't covered by the Financial Services Compensation Scheme, which protects up to £85,000 per individual, per institution.

So how safe is lending money through Lending Works?

Well in 2014 the Actual Arrears was 0.02% with 0.21% actual defaults. In 2015 both those figures are zero; 0.00% actual arrears and 0.00% actual defaults.

Peer-to-peer lending is the new way to try and get the most from your money. 

Will you give it a try?

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