Lending Works Account Information
Updated May 1st 2019
Detailed Account Information & Screen Shots
First Investment – June 2018
Initial Investment – £30,000.00
Total Invested – £30,000.00
Total Return – £1,312.02
ROI% (per lender) – 6.18%
XIRR – 5.27%
My Lending Works Actual Account Growth & Income Charts
Each month I send out an update on all of my Peer to Peer lending accounts. Below are the excerpts specific to Lending Works. Click here for all lender updates
The only thing that could be better was if I could have entered the loans at the current rate of 6.5% instead of the 6% which was available when I initially invested.
Lending Works still have this 6.5% available so if you’re thinking of investing with them, don’t delay. Use this link to get £50 cashback for investing just £1000 with Lending Works (for new investors).
You’ll notice further down the review that RateSetter rates have plummeted over the last month, so it wouldn’t surprise me if that happened to some other lenders too (on the consumer loans side). Lending Works being one of them of course.
Even though I got into Lending Works at 6%, you can see below that repayments are being invested at the new 6.5% rate which is increasing my overall monthly return currently sitting at 6.18%.
March was the second best month so far for Lending Works. The safety of the Lending Works Shield along with 6.5% – 5 year returns is certainly worth a look and can easily be considered for part of an overall Peer to Peer investment portfolio. I think if I only wanted to spread my capital between 2 or 3 lenders (instead of 13 like now), Lending Works would be on the short-list.
Should you be looking for a safer place to put some of your capital with very good returns, then Lending Works have a great cashback offer of £50 for investing just £1000 with them for new investors. Click here for more information on the offer.
Lending Works are still pitching a 5 year target rate of 6.5% which is great for a hands off investment with the safety of their Lending Works Shield. Read my Lending Works Review for more info on how that works if you are not familiar with it.
If you’re looking for a safer place to put some of your capital, then Lending Works have a great cashback offer of £50 for investing just £1000 with them for new investors. Click here for more information on the offer.
Lending Works is really a pleasure to invest with. They are now paying an amazing 6.5% for a 5 year, hands off investment. This is covered by their excellent “Lending Works Shield” provision fund and diversification methodology. This makes them (in my mind) getting towards being almost as safe as Landbay, but with almost double the returns. Of course the real difference is that Landbay investments are all secured with property. So if the company went broke, we would still have asset security, not so with Lending Works as many of their loans are unsecured.
You can read more about how they work in my Lending Works Review. Under normal market conditions though, I consider Lending Works to be one of the safest lenders out there. On top of that, Lending Works have a great cashback offer of £50 for investing just £1000 with them for new investors. Click here for more information on the offer.
As well as the usual account screenshot below, I also posted a list of recent transactions so you can see what goes on automatically in the background.
Lending Works is as easy as a bank. Set it, forget it and enjoy your 6.0%+ returns with the safety of their “Lending Works Shield”. Definitely one of the best for reasonable returns with the best possible safety from a P2P lender. Click here for more info on opening an account with Lending Works.
Lending Works has to be one of the best investments out there. With their “Lending Works Shield” protection and higher returns; I really like their business model. Added to that, they just upped their 5 year investment return from 6% to 6.5% which is really great with the level of protection and hands-off investments they offer. XIRR is showing 4.08% but again, we need more data for a good read, and I really do expect LW’s calculations to be accurate once we get 12 months of investing data.
Lending Works continues to be an easy hands-off investment. Just set everything up, then leave it alone and the interest rolls in. There was a little bit of a bump this month (see growth chart above). I logged in and noticed that my account value had gone down. This shouldn’t happen with Lending Works as any defaults are taken care of by their Provision Fund (Lending Works Shield). I sent them an email basically saying WTF (in a nice way) and received an email back explaining that they had changed the way they display balances on lender accounts (see email below). So no big deal. Just a change in the way they display things. I’m happy they did this as I didn’t realize they were displaying a balance with accrued but not yet received interest in there.
Lending Works is another “set it and forget it” investment. Providing you have reinvestment set, everything is automatic after the initial deposit and offer to lend is initiated.
As you can see above, it’s possible to list the loans you’re invested in, but it really doesn’t matter as everything is managed by Lending Works. If there is a default you likely won’t even know about it as the “Lending Works Shield” comes in to play and everything is taken care of in the background. Click here for more info on opening an account with Lending Works.
Prior to September 2018, no screenshots were published, however you can still see the full updates below: