Peer-to-peer financing involves lending your hard earned money straight to borrowers and like most investment your money are at danger. We just just take precautions with rigorous assessment procedures to make sure our borrowers are creditworthy individuals, but lending from the Money Platform continues to be a danger.
May be the cash Platform included in the Financial Services Compensation Scheme (FSCS)?
The Money Platform is certainly not a bank and thus, just as in all the other platforms that are peer-to-peer loan providers aren’t included in the FSCS.
Who can we be lending cash to?
All loans are unsecured loans that are personal to creditworthy borrowers who’ve been very carefully screened by The Money Platform. We perform credit, affordability, fraudulence and identification checks to make sure just the many borrowers that are suitable chosen. Our borrowers sign up for loans for many different reasons, generally speaking they’ve been useful for: house improvements, buying an automobile and something off activities such as for example investing in a vacation or wedding.