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Social lending
Social lending is a recent internet-based financial phenomenon whereby people lend and borrow money from each other with no bank involvement whatsoever.
Lenders and borrowers are able to choose who, how much and at what rate they lend or borrow guaranteeing superior rates for both sides. Effectively an online financial marketplace,
social lending
, also known as person-to-person lending, is an attractive alternative to traditional savings accounts with banks that could provide you with far greater returns on your savings.However, it can be difficult to know what to look for and how to go about finding the best deal for you.
myfinances.co.uk is here to help by comparing internet social lending for you so you don’t have to, saving you time and finding you interest rates you previously thought unattainable. Check our
best buys table
for the best online social lending available in the UK.
Recommended ...
Use myfinances.co.uk's
savings account best buys
table to
compare UK savings account providers
for the best deals on offer.
Compare UK savings account providers
Search the UK savings account market with myfinances.co.uk and use our savings account best buys table to find the best deals on offer.
Related articles
Interest rate cut: What it means for savers
While borrowers are hoping the latest interest rate cut will mean cheaper repayments, savers are seeing their returns rapidly diminish.
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Interest rates forecast to fall to 1%
Analysts are expecting a one per cent cut in the interest rate today, a poll for
myfinances.co.uk
has shown.
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Savings and investment companies and offers
Abbey unveils 5% and 7% regular savings rates
Julius Baer: Bond fund defends against downturn
Anglo Irish Bank cuts bond rates
Leeds delivers inflation-busting savings
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