rebuildingsociety.com is a Leeds-based peer-to-peer lending platform focusing on finance for small and medium businesses. The company was launched in 2012.
Innovative Finance ISA
With this Innovative Finance ISA (IFISA), rebuildingsociety.com offers the opportunity to lend to your own businesses, without paying personal taxes on returns made. You can choose how much to lend, from £10 up to the legal annual limit of £20,000. Transfer to and from other ISAs as you wish, make your own decisions, and access your capital on the Secondary Marketplace. Simple and straightforward, the IFISA process requires the transferral of bank funds or ISA holdings, which can then be used as normal, through the rebuildingsociety.com marketplace.
As well as its Innovative Finance ISA, the company also offers pensions and business loans.
rebuildingsociety.com Reviews and Ratings
Online reviews for rebuildingsociety.com are fairly average. Those who have enjoyed using the company praise the efficient service and great return, stating that the app is very easy and intuitive to use. Others who have not had such a great experience complain that the website is slow, the due diligence and customer service is poor, and that the company is a small operator with very few clients and a very high default rate and therefore efforts on recovery are often non existent.
- Easy transfer from other ISAs
- Fast easy online setup
- Average Net Return: 6.9%
- Get setup in 40 minutes
- Earn up to 18.1% interest, commercial terms depend on credit score
- Minimum investment amount only £10
- Access your capital on the Secondary Marketplace
- A clear, easy to understand website
- Defaqto 5 Star rating
- FCA regulated
- Innovative Finance ISAs only
- Cash ISAs, Lifetime ISAs or other ISA products offered
- A lack of online support tools or downloadable help guides
- Some negative reviews from unhappy customers
- Some instances of poor due diligence and slow customer service
- Complaints of very high default rates and non existent recovery efforts