P2P Money Blog

Today YES-secure made a statement in response to the questions raised on the rebranding which was due on the 1st March but failed to materialise.

Hi All,

Sincere apologies for the delayed response. Due to some unavoidable technical & Design issues, new branding cannot be placed on 1st March 2012. We regret for not being able to comply with the date mentioned before. We would be applying the new release very soon.
Thanks For the cooperation and Support.

Best Regards
YES-secure Support Team

We will be eagily awaiting the rebranding, which hopefully will address some of the concerns with the current YES-secure web site, and try to draw a line under the bad debt issues that have plagued YES-secure since launch.  However we note that some of the communication issues still need some work !

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YES-secure were due to rebrand today as Encash, but the web site remains unchanged and there is no further news on the site.  Some questions were also raised on the forum.  Hopefully there will be more news coming out of YES-secure - or should that be Encash - tomorrow.

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Time has almost run out for the Funding Circle cashback offer which is due to expire on the 1st March.  It has been extended a few times but it may have now run its course.  The offer allows lenders to earn £25 of John Lewis vouchers if they have £1000 or more lent out on 31st March.  There are further cashback offers available for higher amounts of money on loan.  For details check the P2P Money Cashback site.

With their latest upgrade, RateSetter have expanded their portfolio with a 5 year term product and a novel 1 year bond.  At the start of the year we predicted that there would be a new product and this bond certainly fits the bill.  RateSetter state on their website:

The 1 Year Bond is a fixed interest product with capital and interest paid at the end of the term. The 1 Year Bond is used in tandem with the Monthly Access market to create 18 and 24 month loans. We expect it to be popular with Lenders who are looking to realise an enhanced return with a lower level of access than the Monthly Access option.

I promised not to spill the beans yesterday when told the latest exciting news.  I believe this will certainly go a long way towards bringing P2P lending to individuals who are more familiar with standard saving products such as 1 year bonds.  Full marks to RateSetter, who again demonstrate they are a leader in the P2P arena.

There have been a few more milestones achieved this month.  Funding Circle have just passed £25 million, and YES-secure (soon to be Encash) have passed £½ million, in loans.  Well done to both companies for achieving these milestones.  Later we hope to comment on some other exciting news in the P2P arena - watch this space.

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