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Post by leap2020 on Nov 13, 2020 19:49:55 GMT
Hi everyone, A quick introduction to Leap, an unsecured loans focused P2P. Leap ( www.leaplending.co.uk) is fully authorised by the FCA and is also an IFISA manager. Leap started operations late 2019, and is one of the few P2P requiring open banking consent for borrowers as a condition to final approval and funding. Rates offered to lenders vary from 3% to 5%, with a promotion currently at 8%. Borrowers target is prime and upper range of near-prime. Loans are capped at £15,000 currently. Looking forward to exchanging in the forum. Dan |
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Post by Badly Drawn Stickman on Nov 13, 2020 21:23:31 GMT
Hi everyone, A quick introduction to Leap, an unsecured loans focused P2P. Leap ( www.leaplending.co.uk) is fully authorised by the FCA and is also an IFISA manager. Leap started operations late 2019, and is one of the few P2P requiring open banking consent for borrowers as a condition to final approval and funding. Rates offered to lenders vary from 3% to 5%, with a promotion currently at 8%. Borrowers target is prime and upper range of near-prime. Loans are capped at £15,000 currently. Looking forward to exchanging in the forum. Dan Hi Dan What is involved in your registration process? Logically that would seem to be necessary to find out much detail. Maybe if I offer a scenario of how I might wish to invest you could say how time scales (or indeed viability) might work. Lets say for instance I was interested in lending £500 on a preferred up to two year rolling term level, reinvesting returns. How long would that take to be invested, is it an option, do you have enough loan flow to avoid cash drag etc. Maybe throw in a reluctant payer from my initial round of loans.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 13, 2020 22:17:27 GMT
What!!!!  Gonna need a bigger spreadsheet 
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iRobot
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Post by iRobot on Nov 13, 2020 22:23:00 GMT
Can see why they offer a loan max of £15,000 - they must consider going beyond 1,500,000 lenders might be a bit of a struggle ...  |
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treeman
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Post by treeman on Nov 13, 2020 22:54:29 GMT
Quiet night. ilmoro comment got me curious enough to look.....
Home page. Our community. 'Reviews'/'recommendations' I guess. Unsurprisingly glowing.
'Gav|London' has a picture of a woman. 'Angie|Essex' has a picture of a bloke. For the hell of it a reverse image search throws up pages of results including unsplash.com/photos/aMr23XVkWos
Yeah right. Why? Bargepole.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 13, 2020 23:09:29 GMT
Quiet night. ilmoro comment got me curious enough to look.....
Home page. Our community. 'Reviews'/'recommendations' I guess. Unsurprisingly glowing.
'Gav|London' has a picture of a woman. 'Angie|Essex' has a picture of a bloke. For the hell of it a reverse image search throws up pages of results including unsplash.com/photos/aMr23XVkWos
Yeah right. Why? Bargepole.
Disappointing lack of endorsement by James Marshall (One for the old P2Pers - do a search)
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keystone
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Post by keystone on Nov 14, 2020 0:04:30 GMT
Hi everyone, A quick introduction to Leap, an unsecured loans focused P2P. Leap ( www.leaplending.co.uk) is fully authorised by the FCA Dan Well that means sweat FA, the Financial Criminals Agency is a trade body to allow its members to rip off investors whilst providing cover of respectability. Any financial organisation would have more success if they just stated they were backed by the mafia.
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Post by Ton ⓉⓞⓃ on Nov 14, 2020 11:47:05 GMT
What's the significance of this,
leap2020 Why it is important, how would we use it as lenders?
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michaelc
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Post by michaelc on Nov 15, 2020 16:42:28 GMT
What's the significance of this,
leap2020 Why it is important, how would we use it as lenders? Not sure I follow other than that company being the one running this venture ? Sorry if being thick as usual...
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michaelc
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Say No To T.D.S.
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Post by michaelc on Nov 15, 2020 16:46:41 GMT
Quiet night. ilmoro comment got me curious enough to look.....
Home page. Our community. 'Reviews'/'recommendations' I guess. Unsurprisingly glowing.
'Gav|London' has a picture of a woman. 'Angie|Essex' has a picture of a bloke. For the hell of it a reverse image search throws up pages of results including unsplash.com/photos/aMr23XVkWos
Yeah right. Why? Bargepole.
No doubt this will be removed soon so screentshots at the ready but never mind the asa, shouldn't the FCA take this kind of lie seriously ?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 17, 2020 15:11:01 GMT
As Leap is new and has presumably been launched to comply with the new P2P rules introduced in Dec thought an interesting exercise would be to look at these rules and see how easy it is to find the required information. Considering COBS 18.12 and specifically 18.12.24, (Operator role, loan risk & pricing);18.12.27, (rates, fees, loan info); 18.12.28 (winddown) I am struggling to find the information easily. Seems to be a lot of emphasis on lenders requesting policy documents rather than this information being provided onsite. |
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