Excellent p2p site

Davee.everyone has an opinion.Their rates are much much better than RS.Yes,they need exposure and I hope to see that soon.
Delve a little deeper and you will find good people behind this company.Yes,newish to the p2p scene but everyone has to start sometime.
I believe their vetting proceedure is exhaustive and the Compensation Fund ( although a cost ) will work in a similar way to eMoneyUnion ( another similar but much bigger company in the same ( ish) field.
This is only my personal opinion and I have been impressed with them thus far.
And no,I have not been paid to express my view nor incentivised in any way.

LendLoanInvest.co.uk 
This company is connected to Madiston 

To webbski9 - thank you for your kind words and I'm very glad that you like our site.

To davee39 - oh dear, that certainly wasn't the impression we were trying to give with our points scheme.  We set out to be a peer to peer lender that offers a fair and rewarding system for lenders and borrowers alike.  The points system was designed to thank people on our site for participating in all the activities that will, eventually, make our site buzz!  We hoped, as has been the case, that people would post on our forum to help others understand all the different features we have.  It works as a sort of cashback benefit to help lenders earn more and help borrowers to reduce their costs.  There were good, not dubious intentions behind it all!

Just for the record, we don't target high risk borrowers...even with our compensation scheme in place.  We target only A*, A and B credit ratings at present, however we will review that from time to time.  We operate a star system to help lenders' consider each borrower within our range. As of today we have over 400 registered users and our active lenders are getting an average return of over 8.5% after fees, annualised and assuming that our compensation fund covers any borrower defaults.

To bugs4me, thank you for taking a quick peep and yes, only one loan there today, precisely because we don't target high risk borrowers.  We are turning down around 95% of loan requests in our aim to present creditworthy borrowers to our lenders who may be willing to pay a little more in interest because they want to pay-off expensive credit card bills, for example.

I wish we had a magic wand to attract more of these quality borrowers instantly to our site (or the marketing budgets of some of our competitors!) but we certainly feel we are worth the dipping of the smallest toes (minimum lend £10) and hope one day, lots of lenders on this Forum will be paddling happily!  We will continue to work hard and make solid, steady progress, presenting interesting lending opportunities for you all to consider.

Thank you for all the comments, good and not so good!

Sally

Thank you too, nw99. I'm glad you like the site.
Sally

Hi Kaya


Yes, I do understand your first point: the thought of lending money to people you don’t know without security is an intriguing idea! It has been very effective for borrowers and lenders alike according to the recent Nesta Report: Understanding Alternative Finance 2014. Apparently some 92% of lenders would recommend Peer to Peer Consumer Lending. You may like to read our summaries of the relevant section of the report (there are links to the full report there too):


The lender view of Peer to Peer Consumer Lending:

www.lendloaninvest.co.uk/blog/14/entry


The borrower view of Peer to Peer Consumer borrowing:

www.lendloaninvest.co.uk/blog/13/entry

On your second point, we do acknowledge that, in the attempt to make a really fair and flexible site, we added too much complexity. Thank you for your thoughts on this, we are going to add a much more straightforward system very soon which will hopefully make the process easier for lenders.


Your point about compulsory – or optional – insurance: we do have a Compensation Scheme which is designed to help protect lenders against late or missed payments. It is not an insurance product and doesn’t guarantee that every default can be covered but it does help to protect against losses. You can read more about our Compensation Scheme here:

www.lendloaninvest.co.uk/faqs/how-it-works/compensation-scheme

I hope that helps to answer your questions and that you might look at us again soon. If you have any other thoughts or questions, please do let us know…it’s really helpful to know what we need to change to make our platform a compelling part of lenders’ portfolios.

Sally

Just registered. Have to say that this is the most complicated platform I have come across with a baffling array of fees to pay. Although the site is slick, and the registration process was fully automated I am left with a strange feeling that it has been abandoned by its human owners. There is no sign of any recent activity and I feel like I have landed on the Marie Celeste. Before I invest any money I would love to hear the experiences of any current lenders.