Lending Works is a UK peer-to-peer lending platform based in London that seamlessly connects investors with borrowers to get a better deal for both.
Innovative Finance ISA
With Lending Works’ Innovative Finance ISA you can build a loan portfolio based on your individual investment style and access requirements. You will lend money to creditworthy borrowers, 100% tax-free, and you will maintain control so you can re-invest, draw income or withdraw early as you like. The maximum allowance to invest is £20,000. Your investment is automatically split across many loans which is diverse, and much less volatile than stocks and shares.
There are two products to choose from, you can select just one or else mix and match both. Both of these investment products are diversified across all loan terms, from 2 – 60 months:
With the Flexible ISA you can choose to reinvest repayments or withdraw income. There are no fees for early access. Start investing with £100 and earn a 4.0% p.a. projected return.
With the Growth ISA you can also choose to reinvest repayments or withdraw income, however there is a 0.5% fee for early access. Start investing with £100 and earn a 5.4% p.a. projected return.
Lending Works specialises in peer-to-peer lending, innovative finance and personal loans.
Lending Works Reviews and Ratings
Online reviews for Lending Works are very good in the main, with customers happy with the prompt, helpful, friendly and professional service they received, as well as the easy, no hassle process and clear breakdown of associated costs. Others however, have complained of poor customer service and negative interest rates; with one calling the company the ‘worst performing P2P platform there is’.
Trustpilot – 4.3/5 (based on 1,767 reviews)
- Specialist Innovative Finance ISAs
- Sign up in two minutes, then open your IFISA in one simple step
- Lending Works Shield provides first-loss cover across entire loan book
- Diverse investment opportunities split across many loans
- Flexible access options with fee-free early exit
- A clear, easy to understand website
- Some very good customer reviews
- Innovative Finance ISAs only
- Stocks and Shares, Cash ISAs, Lifetime ISAs and other ISA products not offered
- Some negative customer reviews
- Instances of poor customer service
- Complaints of negative interest rates and a poorly performing platform
Website: Lending Works