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Lending Works launches two new Rate Locks

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Peer-to-peer lender Lending Works is launching two new interest rates in response to demand from high quality borrowers. Lenders will earn 5% on money lent for up to three years and 6% for money lent for up to five years.

Until 1 March 2015, customers who lend GBP10 or more will be locked in at these leading rates assuring the best returns available in the market now. On this basis, a Lending Works customer who lends GBP5,000 over 3 years can make outstanding returns of GBP250.03 in their first year and GBP788.24 over the whole term.
 
The 5% and 6% fixed rates offer is the first in a series of Rate Locks to be rolled out over the course of 2015. Rate Locks give lenders peace of mind, knowing they are securing some of the best rates in the market that won’t go down.
 
This offer is aimed at any customer seeking great value returns on their money. These special rates appeal to people who may have already exhausted their ISA allowances for the 2014/15 year and are looking for great alternative options to safely invest their money, or people looking at interesting ways to boost their pension income.
 
Nick Harding, founding CEO of Lending Works, says: “At Lending Works, we only lend money to the top 10% of creditworthy borrowers and it is from these people that we are seeing unprecedented demand for long-term loans. This makes it a great time for us to offer the sorts of interest rates you can’t find elsewhere to customers who have the funds available to lend to our high-quality borrowers.
 
“Lending Works lenders’ money is never idle. It is allocated across a portfolio of borrowers efficiently, meaning that the opportunity to benefit from these chart-topping rates begins immediately.
 
“Our first Rate Lock offer was launched to celebrate our first birthday. 2014 was an exceptional year for Lending Works. By continuing to offer top rates to UK lenders, 2015 looks set to be even better.”

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