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    • secretdebt
    • By secretdebt 19th May 17, 11:57 AM
    • 27Posts
    • 757Thanks
    secretdebt
    P2P lending question
    • #1
    • 19th May 17, 11:57 AM
    P2P lending question 19th May 17 at 11:57 AM
    Hi all

    Just something that came into my head, and not sure if this is the right place - I'm sure it is.

    Does anybody know of a site here you can lend money out at a rate that you determine? Reason being, say I wanted to lend money to a friend officially but only charge a small nominal interest rate (or even none at all). I know some of the p2p lenders have certain rates, but I am thinking more of being able to choose who you lend to and at what rate.

    I'm not sure if this would allow you to get around the need for a credit licence so probably not, but would be good to know if there was one.

    Thanks
Page 1
    • EdGasketTheSecond
    • By EdGasketTheSecond 19th May 17, 1:31 PM
    • 161 Posts
    • 80 Thanks
    EdGasketTheSecond
    • #2
    • 19th May 17, 1:31 PM
    • #2
    • 19th May 17, 1:31 PM
    If its a friend, why pay the middleman to set it up? Just write an agreement between the two of you.
    • secretdebt
    • By secretdebt 19th May 17, 1:44 PM
    • 27 Posts
    • 757 Thanks
    secretdebt
    • #3
    • 19th May 17, 1:44 PM
    • #3
    • 19th May 17, 1:44 PM
    Thanks - Agreed, and I understand that point.

    But...Specifically I am asking if there is a place? There is no friend in reality. Say I wanted to lend somebody some money out of the kindness of my heart.

    Again, the situation is hypothetical, but I more wondered if there is a site/product available that would mean that one person wouldn't need to go get a credit licence to lend their money out at a low/none interest rate.

    I know that people wouldn't, and I certainly wouldn't of course. But...is the option out there.
    • JohnRo
    • By JohnRo 19th May 17, 2:15 PM
    • 2,358 Posts
    • 2,087 Thanks
    JohnRo
    • #4
    • 19th May 17, 2:15 PM
    • #4
    • 19th May 17, 2:15 PM
    Have you considered contacting your local credit union?
    'We can't solve problems by using the same kind of thinking we used when we created them.' ― Albert Einstein
    'Facts do not cease to exist because they are ignored.' ― Aldous Huxley
    • bigadaj
    • By bigadaj 19th May 17, 10:17 PM
    • 9,363 Posts
    • 5,983 Thanks
    bigadaj
    • #5
    • 19th May 17, 10:17 PM
    • #5
    • 19th May 17, 10:17 PM
    Thanks - Agreed, and I understand that point.

    But...Specifically I am asking if there is a place? There is no friend in reality. Say I wanted to lend somebody some money out of the kindness of my heart.

    Again, the situation is hypothetical, but I more wondered if there is a site/product available that would mean that one person wouldn't need to go get a credit licence to lend their money out at a low/none interest rate.

    I know that people wouldn't, and I certainly wouldn't of course. But...is the option out there.
    Originally posted by secretdebt
    Not aware of such a site, many p2p lenders have specific loans to individual companies rather than the pooled options of the larger providers like Zopa and Ratesetter.

    You can also get a simple contract set up for a loan between individuals, stating terms, repayments, security etc either from templates or going to a solicitor.
    • Gambler101
    • By Gambler101 19th May 17, 10:28 PM
    • 416 Posts
    • 998 Thanks
    Gambler101
    • #6
    • 19th May 17, 10:28 PM
    • #6
    • 19th May 17, 10:28 PM
    If family or friends ask for financial assistance, and you want to help think of it as a gift, as its often not repaid.

    This way it doesnt break the relationship.

    If you are not happy to gift the amount, don't lend it, let them go to a proper lender.
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX
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