Lending Works Account Information

Lending Works Account Information

 

Excerpt From The Full February 2020 Monthly Update

 

Lending Works

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Lending Works Account Screenshot 1 - Feb 2020 P2P Lending Update

 

After increasing my account value to £20k, we’ll hopefully see Lending Works income continue to increase. Unfortunately at the end of last year, not only did I decide to reduce my exposure to many lending accounts (Lending Works included), but Lending Works were also one of the lenders which reduced their return rates. They were paying 6.5% on the long term account, for almost 2 years, but then it came down to 5.4% in December 2019. This of course will reflect on the income level as much as anything.

Lending Works XIRR held steady in February at 5.55%, which is around where I expect it to stay. Not a bad rate for the level of safety and liquidity Lending Works offer. I had just been spoiled with the 6.5% for so long 🙁 

 

Lending Works Signup & Cashback Offers

£50 cashback for investing £1000.

Use this link to signup & qualify for the Lending Works cashback >>>

 

 

Excerpt From The Full January 2020 Monthly Update

 

Lending Works

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Lending Works Screenshot 1 - January 2020 Update

 

Old reliable Lending Works keeps delivering the income. Unfortunately not only did they reduce their returns in December last year, but I also halved my account value as I rebalanced and diversified my portfolio. So now income from Lending Works has shrunk down significantly.  Oh well 🙁

Lending Works XIRR decreased again from 5.58% in December to 5.55% in January,  which is around where I expect it to stay. 

 

Lending Works Signup & Cashback Offers

£50 cashback for investing £1000.

Use this link to signup & qualify for the Lending Works cashback >>>

Excerpt From The December 2019 Monthly Update

 

Lending Works

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Lending Works Account Screenshot for December 2019 P2P Lending Update

 

I withdrew from Lending Works in December to meet my diversification targets. It was difficult to do so as they are about the safest lender out there in my eyes. Selling loans was quick and easy, it took just a couple of hours. I made the same mistake here as I did with a couple of other lenders by withdrawing the account down to £10k, then having to send £5k back when I realized diversification was going to be difficult at the £10k level. Lending Works then wouldn’t let me back in for 20 days because of the free sell out they did.

Because of this,  Lending Works XIRR decreased just a bit from 5.82% in November to 5.58% in December. This will obviously continue to decrease now due to the new, lower target number of 5.4%.

Lending Works Signup & Cashback Offers

If you decide to invest with Lending Works (which if you’re getting in to P2P, is a sensible idea as part of a diversified portfolio).

Use this link to get £50 cashback for investing just £1000 with Lending Works >>>

 

 

Excerpt from the Full November 2019 Monthly P2P Lending Update

 

November 2019 Monthly Update

 

Lending Works

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Lending Works, shocked the P2P lending market in November announcing that they are immediately dropping rates from 5% to 3.8% on their Flexible (easy access) account and from 6.5% to 5.4% on their Growth (long term investment) account. Although untimely, this actually makes a lot of sense for the safety and longevity of it’s investors.  I had been reading that the “Lending Works Shield” (provision fund) had been drawing down in recent weeks due to increased defaults. Nothing drastic or worth panicking about, but I was watching it. So decreasing the rates offered to investors in return for increasing the balance of the fund to protect their capital makes a lot of sense for the longer term view and safety of the company. Lending Works continues to be one of the safer lenders out there because of this in my opinion. These guys know what they are doing.

Free Withdrawals

The other thing Lending Works did (that other lenders could learn a lot from) is to offer their current investors free withdrawals from the Growth Account (usually costs 0.5%) for lenders wanting to withdraw because of the lower rates. I took advantage of this and started to sell down my account to the target £10k balance. The total sale happened in a couple of hours (£23k) and my money was ready to withdraw at no cost.

I’m REALLY sad to be moving capital from Lending Works but need to stick to the new diversification rules. I was trying to convince myself that Lending Works and Growth Street should be exceptions to the rules, but then what of Assetz Capital whom I consider to be just as safe? 18 months ago I would have put Funding Circle as being almost (but not quite) as safe as these other platforms, and look at what’s happening there. All due mainly to Funding Circle Executive’s dumb decisions rather than the economy or lending in general. Although I doubt it, I guess something similar could happen to any of the other lenders if Executives get greedy and make dumb decisions too. So better safe than sorry.

Lending Works XIRR decreased just a bit from 5.86% in October to 5.82% in November. This will obviously continue to decrease now due to the new target number of 5.4%.

Lending Works Signup & Cashback Offers

If you decide to invest with Lending Works (which if you’re getting in to P2P, is a sensible idea as part of a diversified portfolio).

Use this link to get £50 cashback for investing just £1000 with Lending Works >>>

LendingWorks Account Screenshot for November 2019 P2P Lending Update1 LendingWorks Account Screenshot for November 2019 P2P Lending Update2

 

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October 2019 Monthly Update

 

Lending Works

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Lending Works, delivered again as they do every month. Definitely one of the best Peer to Peer platforms with 6.50% guaranteed returns from one of the safest lenders out there. 

XIRR increased once again from 5.83% in September to 5.86% in October.  Lending Works own target numbers for my account also increased one pip also to 6.23%. The reason for the discrepancy between XIRR and the target rate is that the 5 year target rate was only 6.00% when I first invested. Since then it’s grown to 6.5%, so my repayments are getting reinvested at the higher rate. But much of my original investment is still at the 6% rate so it will take a while for it to grow to the current 6.5% target.

You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield“. There’s a reason they are my largest GBP lending account now with over £33k invested, and I’m even thinking about adding some more. Just have to follow my diversification rules though.

 

Lending Works Signup & Cashback Offers

If you decide to invest with Lending Works (which if you’re getting in to P2P, is a sensible idea), they still have the 6.5% available on the 5 year investment for new customers.

Use this link to get £50 cashback for investing just £1000 with Lending Works >>>

 

Lending Works Account Screenshot 1 - October 2019 Update

Lending Works Account Screenshot 2 - October 2019 Update

 

 

September 2019 Monthly Update

 

Lending Works

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The more I invest with Lending Works, the more I would like to increase my investment to about 50% of my overall Peer to Peer lending capital and get a guaranteed 6.5% annual return. Unfortunately that wouldn’t’ be prudent, even though Lending Works are one of the safest lenders out there. Got to stick to the rules and diversify. 

XIRR increased a little more from 5.81% in August to 5.83% in September.  Lending Works own target numbers for my account also increased a bit to 6.22%. The reason for the discrepancy between XIRR and the target rate is that the 5 year target rate was only 6.00% when I first invested. Since then it’s grown to 6.5% so my repayments are getting reinvested at the higher rate. But much of my original investment is still at the 6% rate so it will take a while for it to grow to the current target.

You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield“. There’s a reason they are one of my largest lending accounts with almost £33k invested, and I’m even talking about adding some more.

 

Lending Works Signup & Cashback Offers

If you decide to invest with Lending Works (which if you’re getting in to P2P, is a sensible idea), they still have the 6.5% available on the 5 year investment.

Use this link to get £50 cashback for investing just £1000 with Lending Works >>>

Lending Works Account Screenshot - August 2019 Peer to Peer Lending Update 1

 

August 2019 Monthly Update

 

LENDING WORKS

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Lending Works Account Screenshot for Peer to Peer Lending Update - August 2019 1 Lending Works Account Screenshot for Peer to Peer Lending Update - August 2019 2

 

What is there to say about one of the safest lenders, Lending Works. Constantly deliver what they promise.  XIRR keeps slowly climbing from 5.60% last month to 5.81% in August. Lending Works own target numbers for my account stayed the same 6.21%. The reason for the discrepancy between XIRR and the target rate is that the 5 year target rate was only 6.00% when I first invested. Since then it’s grown to 6.5% so my repayments are getting reinvested at the higher rate. But much of my original investment is still at the 6% rate so it will take a while for it to grow to the current target.

You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield“. There’s a reason they are one of my largest lending accounts with almost £32k invested and I’m even considering adding some more.

 

If you decide to invest with Lending Works (which if you’re getting in to P2P, is a sensible idea), they still have the 6.5% available on the 5 year investment.

Use this link to get £50 cashback for investing just £1000 with Lending Works (for new investors).

 

 

 

 

July 2019 Monthly Update

 

LENDING WORKS

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Lending Works Account Screenshot for Peer to Peer Lending July 2019 Update 1

 

Lending Works is one of the lenders I am actually going to increase my investments with. Once I get the capital sold out from Funding Circle, I’ll likely be putting some here.

XIRR keeps slowly climbing from 5.49% last month to 5.60% in July. Lending Works own target numbers for my account rose a tiny bit once again from 6.20% to 6.21%.

You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield“. There’s a reason they are one of my largest lending accounts with almost £32k invested and I’m even considering adding some more.

 

If you decide to invest with Lending Works (which if you’re getting in to P2P, is not a bad idea), they still have the 6.5% available.

Use this link to get £50 cashback for investing just £1000 with Lending Works (for new investors).

 

 

 

 

 

 

June 2019 Monthly Update

 

LENDING WORKS

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Lending Works Account Screenshot for June 2019 P2P Lending Update 1

 

 

Lending Works income was back on track this month after a small dip in May. June was the second highest month since the portfolio began at £180.82.

XIRR keeps slowly climbing from 5.33% last month to 5.49% in June. Even Lending Works own target numbers for my account rose a tiny bit once again from 6.19% to 6.20%.

You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield“. There’s a reason they are one of my largest lending accounts with almost £32k invested.

As you can see below in the screenshot, my repaid capital is being reinvested at the 6.5%. I initially got into Lending Works about a year ago at 6.0%, so it’s nice to see the rates climbing steadily as my reinvestment capital gets lent out at the higher rates.

Lending Works Account Screenshot for June 2019 P2P Lending Update 2

 

If you decide to invest with Lending Works (which if you’re getting in to P2P, you probably should consider), they still have the 6.5% available, so if you’re thinking of investing with them, consider doing it sooner rather than later. 

Remember, RateSetter was at 6.7% just a few months ago, now they’re at 5.4% 🙁  

Use this link to get £50 cashback for investing just £1000 with Lending Works (for new investors).

 

 

 

 

May 2019 Monthly Update

 

LENDING WORKS

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Lending Works Returns Account Screenshot for May 2019 Update 1

 

 

Lending Works income was a little less this month than last, but still on target at £153.55. XIRR keeps slowly climbing from 5.27% last month to 5.33% in May. Even Lending Works own target numbers for my account rose a tiny bit from 6.18% to 6.19%. You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield”.

You can see below that my repaid capital is being invested at the 6.5%. I initially got in to Lending Works about a year ago at 6.0%, so it’s nice to see the rates climbing steadily as my reinvestment get into loans at the higher rates.

 

Lending Works Peer to Peer Lender Account Screenshot for May 2019 Update 2

 

Lending Works still have the 6.5% available, so if you’re thinking of investing with them, consider doing it sooner rather than later. 

Remember, RateSetter was at 6.7% just a few months ago, now they’re at 5.1% 🙁  

Use this link to get £50 cashback for investing just £1000 with Lending Works (for new investors).

 

 

 

 

April 2019 Monthly Update

 

LENDING WORKS

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Lending Works Account Screenshot for April 2019 Update 1

 

 

Lending Works had its best month by far for income this month with £203.27 posted.  For a lender with this kind of safety (Lending Works Shield) on £30k initial investment, I can’t complain at all. 

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%.

 

Lending Works Account Screenshot for April 2019 Update 2 

 

 

 

March 2019 Monthly Update

 

LENDING WORKS

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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.

 

Lending Works Account Screenshot for March 2019 Update

 

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.

 

 

February 2019 Monthly Update

 

LENDING WORKS

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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.

Lending Works Account Screenshot for Feb 2019 Update

 

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.

 

 

 

January 2019 Monthly Update

 

LENDING WORKS

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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 Screenshot for Jan 19 Update 1 Lending Works Screenshot for Jan 19 Update 2

 

 

 

December 2018 Update

 

Lending Works

See Full Review

Lending Works Account Screenshot for Dec 2018 Update Lending Works Account Screenshot for Dec 2018 Update2

 

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.

 

 

 

November 2018 Update

 

Lending Works

See Full Review

Lending Works Account Screenshot for Nov 2018 Update

 

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.

 

 

 

October 2018 Monthly Update

 

Lending Works

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Lending Works Oct Update Account Screenshot 1

Lending Works Oct Update Account Screenshot 2

 

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 Email Screenshot for Oct Update

 

 

 

September 2018 Monthly Update

 

Lending Works

See Full Review

Lending Works Account Screenshot 1 Oct 2018

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.

Lending Works Account Screenshot 2 Oct 2018

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.

 

 

<<< Return to Full Review

 

 

Prior to September 2018, no screenshots were published, however you can still see the full updates below:

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