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Peer2Peer Finance News | August 17, 2019

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Lending Works offers bonus of up to £200 to new and existing investors

Lending Works offers bonus of up to £200 to new and existing investors
Kathryn Gaw

LENDING Works is offering cash bonuses of up to £200 to new and existing investors for a limited time period.

The peer-to-peer consumer lender said that from Monday 24 July, investors will receive a £50 bonus for every £5,000 they invest. The offer expires on Sunday 20 August, meaning that customers could potentially earn up to £200, if they invest at least £5,000 in each of the four weeks.

Read more: Lending Works launches IFISA

The bonus scheme has been rolled out to celebrate Lending Works’ recent win at the Moneywise Customer Service Awards. The firm was named Best P2P Platform for Savers, beating off competition from RateSetter, Funding Circle, Assetz Capital, Zopa and Lendy.

Rising demand for Lending Works loans has increased interest rates for investors, the platform said. Returns are currently sitting at five per cent for five-year loans, and four per cent for three-year investment terms.

Read more: Household savings rate hits record low

“At a time when interest rates on savings are stubbornly low, and stock markets remain volatile, peer-to-peer lending continues to buck the trend with stable, inflation-beating returns as a midpoint between the two asset classes in terms of risk and reward,” said Lending Works’ chief executive Nick Harding (pictured).

“The fact that Lending Works’ rates of return have soared in recent times is testament to the exponential growth we have enjoyed in 2017, and our ability to attract a steady flow of prime consumer borrowers. For lenders, this means the benefits continue to swell, and we look forward to helping many investors significantly grow their wealth over the next month – and beyond.”

Read more: Lending Works gets £9m boost from IFISA activity