Which P2P platforms offer holiday loans?
With borders reopening many people will presumably be looking to book the holiday of a lifetime, and could turn to peer-to-peer lending platforms for financing.
Consumer P2P platforms offer personal loans for a variety of reasons including for holidays.
Here Peer2Peer Finance News lists some of these, in alphabetical order.
Read more: Which P2P platforms offer wedding loans?
Connective Lending
Connective Lending offers personal loans secured against a range of luxury assets, such as watches, jewellery and cars.
The platform’s loans are fixed for a term of six months and have a minimum APR of 18.8 per cent and a maximum rate of 69.25 per cent.
Elfin Market
The Elfin Purse is a new type of credit card that allows consumers to borrow what they need, when they need it, at a representative APR of 5.8 per cent.
Elfin’s P2P lenders fund the Elfin Purse, and borrowers will only be approved for a loan if they meet the P2P consumer lending platform’s credit requirements. The funds can be used for any purpose including for holidays.
Read more: Which P2P platforms offer car finance?
Leap Lending
Consumer finance platform Leap Lending allows individuals to borrow up to £15,000, to be paid off within 12 to 60 months.
Interest rates are approximately eight per cent.
Lendable
Lendable is a P2P consumer lending platform that offers personal loans at 24.5 per cent representative APR.
It works with comparison sites and credit checking experts and uses technology to offer quick loans and quotes.
Read more: Which P2P lending platforms have their own apps?
Mintos
The European lending marketplace has a number of lending originators, such as Express and Vizia, offering consumer loans which can be used for a variety of reasons.
One originator – Evergreen Finance – advertises holidays or recreation as a reason borrowers could take out a loan.
Prosper
Prosper offers loans for holidays through its P2P lending marketplace, with vacation an option to put as a reason for taking out a loan when looking for a quote online.
The US-based platform said that it can potentially offer a better rate than credit cards and without forcing consumers to apply for a loan against their home.
Robo.cash
The European P2P platform offers consumer loans that can be used for a range of reasons from weddings and honeymoons to holidays.