FOLK2FOLK has relaunched its product range with higher interest rates of up to 9% pa for investors and lower rates from 0.38% pcm for borrowers.
The P2P lending platform has increased LTV thresholds up to 60% market value and also abolished IFIsa annual arrangement fees to increase investor returns.
Giles Cross, CEO at FOLK2FOLK (pictured above), said: “FOLK2FOLK is maturing as a business and our new, improved product range is testament to that.
“Our new rates and range of LTV present an even more attractive proposition for both borrowers and investors.
“In today’s low interest rate environment, savers and investors alike are always looking to maximise their returns.”
Giles stated that the majority of FOLK2FOLK’s retail investors were at the retirement stage of life, where the interest they received on their capital was often life changing and he believed that the range of opportunities it would now be able to present to its investors would further bolster and reinforce that position, helping those who lend through it to lead and enjoy the best lives possible.
“The same applies to our borrower customers,” added Giles.
“With SMEs still struggling to access finance via traditional sources, our commonsense approach to lending continues to deliver value.
“By introducing some measured flexibility around our interest rates and required levels of security, we’re able to help even more credit-worthy businesses access the finance they need to grow, develop and thrive.”
FOLK2FOLK’s lenders have funded loans of more than £275m to UK business since the P2P lending platform’s inception in 2013.
Article written by Simon Thompson. Image and Article first appeared in Bridging & Commercial on March 12th 2019. (Image taken from the original article.)