Lendable.co.uk anyone heard of?

Bootneck21

Just seen lendable.co.uk appear in some loan comparisons websites however i think they started up only in October.
Tried doing a bit of reasearch but cannot find anything about lendable.

Anyone had any dealings good or bad

Regards

Grumpelstiltskin

Well they appear to operate from a flat in Bayswater, so think what you like.

Bootneck21

Thats the thing, no reviews, as there such a new company but everything ive checked, search etc seems legit, its just where they are new and starting up i guess.

Grumpelstiltskin

Personally I would be wary, I know everyone has to start somewhere but a loan from a company who are a few weeks old I feel has a lot of risks.


I wonder if they are going to ask for a fee up front? If so barge and pole come to mind.


No harm in looking into the loan further but under no circumstances pay any money of give them any card/bank details upfront.

dealer_wins

They are "supposedly" a P2P lending site, so dont expect to get a loan without a good/excellent credit history.

I am still undecided as to whether its a bogus/scam site at the moment though.

antrobus

It's a peer to peer lending business. Lendable is the trading name of Feather Media Ltd. It is authorised by the FCA.

Grumpelstiltskin wrote: »

Personally I would be wary, I know everyone has to start somewhere but a loan from a company who are a few weeks old I feel has a lot of risks.....

Lendable (or the underlying investor) are the one's taking the risk by lending to the OP. I'm not sure that the OP faces any risk by accepting the money.

Grumpelstiltskin wrote: »

...I wonder if they are going to ask for a fee up front? If so barge and pole come to mind. ...

They don't appear to ask for one. They do state that 'Our loan agreement will clearly set out the fees that will apply to your loan'

Grumpelstiltskin wrote: »

..No harm in looking into the loan further but under no circumstances pay any money of give them any card/bank details upfront.

It's a bit tricky that. Hard to get a loan from anyone unless you agree up-front to the repayment method.

Grumpelstiltskin

My worry is that if they are genuine P2P why is there nothing online asking for investors ( or at least I can't see anything ) Where are they getting their funds from?

forgotmyname

Tading names Alphalend?

antrobus

Grumpelstiltskin wrote: »

My worry is that if they are genuine P2P why is there nothing online asking for investors ( or at least I can't see anything ) Where are they getting their funds from?

To be eligible as an investor one of the following must apply to you:

• You are an investment professional
• You represent a company, partnership, or trust
• You are a self-certified sophisticated investor

You may contact us by emailing [EMAIL="invest@lendable.co.uk"]invest@lendable.co.uk[/EMAIL] so that we may establish whether you qualify as an investor in loans made by Lendable.

https://www.lendable.co.uk/terms

antrobus

forgotmyname wrote: »

Tading names Alphalend?

Apparently, yes. Feather Media Ltd previously traded as Alphalend.

Grumpelstiltskin

Antrobus OK but if you were in the market to invest in a P2P company the chances of you finding that are I guess small, why nothing in any financial publication? ( That I can see )


I am still not happy to either lend or borrow when the company appears to be run from someone's flat.


Even scammers come up with an office address.