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Funding Circle and RateSetter win awards
Funding Circle and RateSetter, two of the leading P2P companies in the UK, were winners in the CreditToday awards.
Funding Circle won the Alternative Lender of the Year (Commercial) and RateSetter the Alternative Lender of the Year (Consumer). This is further recognition that peer-to-peer lending is having a major impact in the finance, and is a driving force for better rates for both borrowers and lenders.
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This entry was posted on May 10th, 2013 at 10:39:00 am by easteregg and is filed under News, Lending, Borrowing.
Tags: funding circle, ratesetter
1 comment
Comment from: Barrie Lindsey [Visitor] 
Peer to Peer lending is not all its cracked up to be and the rates are misleading. If you lend £10,000 for 5 years at 5%, you will receive a fixed payment every month that consists of both capitol and interest. But as the capitol decreases you only get 5% interest on what is still owed. So month after month the fixed payment is more capitol repayment and less interest. Lending with Rate Setter, a £10,000 loan at 5% gives a Net return (after fees) of £11,296. A 5 year Fixed Rate Bond with interest at 2.44% AER will give the same return. The only way to beat these rates is to loan to the high risks borrowers. Not recommended!!
12/06/13 @ 21:24
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