Following a record month of lending in April, we’re not resting on our laurels as summer approaches. We plan to more than double our lending this year, bringing more investing opportunities for you. Read on for more news from LendingCrowd!
Investing for the big day
Royal weddings don’t come cheap – the security alone for the 2011 nuptials of Prince William and Kate Middleton cost more than £6 million, including almost £3m in police overtime.
Prince Harry and Meghan Markle’s ceremony was on a smaller scale, but the bill still dwarfed the average UK wedding budget, which stands at over £27,000. That’s a lot of money if you aren’t royalty, so most people planning their big day will have to budget carefully and build up a wedding fund.
You could opt for a regular savings account or Cash ISA, but with interest rates failing to keep pace with inflation, your money would actually be falling in value over time. Investing in shares has long been seen as a way of seeking higher returns than cash, but recent volatility has highlighted how quickly sentiment can change in the markets.
Peer-to-peer lending could be the answer for those seeking an alternative. Our Growth Account, which automatically invests in a diverse portfolio of business loans, targets a return of 6%* a year. As with all our accounts, it can be held in our ISA wrapper for tax-free returns**.
*Capital at risk. Target rate is variable, net of ongoing repayment fees and bad debt and before the 1% capital withdrawal fee.
**Tax treatment depends on the individual circumstances of each investor and may be subject to change in future.
Investors like you are the reason businesses turn to LendingCrowd for their funding needs. Find out how Flint Holiday Home Management planned to use its loan to expand in Cornwall, where it manages more than 100 properties for holiday lets and longer-term stays.
LendingCrowd CEO Stuart Lunn said the Bank of England’s decision to keep interest rates on hold would “maintain the strain felt by hard-pressed savers … It’s time to think outside the bank.”