Based on my entire loan book varying from being 6 to 26 months overdue, on what were advertised as 6 months loans, I would prefer to join Boris dead in a ditch before I invest my hard earned money in this.
The overall account is limited to £250,000 on a first come first served basis.
Individual investors can invest between £1-£10,000
If somebody sees the offer and decides, geez that looks good, FundingSecure have a history of returning money to investors in full and on time, let's do £10k....well they are very deluded. Wouldn't waste another pound on this platform. Ever.
I'll give them ten out of ten for optimism though!
Invest in loans I can do no diligence on with a platform with a reputation for incompetence and negligence and strong possibility they will not be in business much longer as more and more disasters line up one after the other.
Its is saying ""aim to offer a targeted rate of 5% per annum returned to the investor regardless of whether the loan defaults or not"", So as a black box you dont know what loans the money is in, performing, under performing, or defaulted, you can still withdraw. If thats the case I am not seeing a problem with it