PEER TO PEER LENDING

I don’t know a lot about it but it does seem to be becoming a bit of a new trend. From what I understand there are a few companies out there who are selling this option. Have a search for more info on the net.

Thanks for the advice I will most certainly have a look!

I have read about this too. From what I understand it works with you lending money to individuals in small amounts as if you were a bank. It seems that you can earn a return of about 6% or more.  Doesn’t sound bad to me!

Are there minimum or maximum amounts that you can lend then?

You are investing in other people and their goals but it doesn’t have to be large sums of money the money you invest can be split into amounts as small as £25 over various numbers of loans.

Couldn’t that get a bit confusing and messy with lending to so many people?

That’s why you do it via a company who has experience in organisation and paperwork. Many people believe that it’s a great alternative to the stock market.

Is it easy to get started then??

I haven’t actually tried it myself so I can only go on what I’ve read but it seems that it’s easy to sign up and get started and you can open an account with as little as £1000. The percentage you earn increases on the basis of how risky the loan is. For example you would get an average of 6% for safer loans and more for riskier loans.

Great I’m going to do some investigating as it seems like a really good option to be.

Glad to have helped.