The Money Platform

a close button on the peer to peer lending UK page

Estimated reading time: 2 min

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

What are the key risks?

You could lose the money you invest
- Many peer-to-peer (P2P) loans are made to borrowers who can't borrow money from traditional lenders such as banks. These borrowers have a higher risk of not paying you back.
- Advertised rates of return aren't guaranteed. If a borrower doesn't pay you back as agreed, you could earn less money than expected. A higher advertised rate of return means a higher risk of losing your money.
- These investments can be held in an Innovative Finance ISA (IFISA). An IFISA does not reduce the risk of the investment or protect you from losses, so you can still lose all your money. It only means that any potential gains from your investment will be tax free.
You are unlikely to get your money back quickly
- Some P2P loans last for several years. You should be prepared to wait for your money to be returned even if the borrower repays on time.
- Some platforms may give you the opportunity to sell your investment early through a 'secondary market', but there is no guarantee you will be able to find someone willing to buy. .
- Even if your agreement is advertised as affording early access to your money, you will only get your money early if someone else wants to buy your loan(s). If no one wants to buy, it could take longer to get your money back.
Don't put all your eggs in one basket
- Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
The P2P platform could fail
- If the platform fails, it may be impossible for you to collect money on your loan. It could take years to get your money back, or you may not get it back at all. Even if the platform has plans in place to prevent this, they may not work in a disorderly failure
You are unlikely to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover investments in P2P loans. You may be able to claim if you received regulated advice to invest in P2P, and the adviser has since failed. Try the FSCS investment protection checker here.
- Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated platform, FOS may be able to consider it. Learn more about FOS protection here.

If you are interested in learning more about how to protect yourself, visit the FCA's website here.

For further information about investment-based crowdfunding, visit the FCA's website here.

Why are TMP
Making a difference?

Every day, people around the UK encounter unexpected expenses that they had not budgeted for, or have a large item to pay for like a holiday, and find they are unable to access traditional loans due to a poor credit score, or because they're young or maybe are a foreign national.

At TMP, we understand that credit scores are not perfect, so we’ve built our very own TMP scorecard, the TMP Score, to assess applications more fairly. In turn, we’re able to lend to borrowers who may have previously been rejected and allow them to access quick, safe, and reliable funds.

Frequently Asked Questions

What is peer-to-peer lending?

At The Money Platform, we connect creditworthy borrowers to individuals with funds to lend so people can borrow and lend money directly to one another. Peer-to-peer lending cuts out the middleman - the banks - and provides a transparent and efficient way for people to fund people.

What are the requirements to lend with The Money Platform?

Anyone can apply to lend with The Money Platform! All individuals or companies are required to complete our lender registration process including a suitability assessment and test. If successful, a minimum deposit is required to begin your investment journey.

Who can apply to borrow on The Money Platform and how do you make credit assessments?

Anyone is welcome to apply for a loan at The Money Platform and our credit assessment tools work to assess customers fairly, using cutting edge technology, not backwards looking credit scores.
Our leading Credit Assessment technology enables us to accept customers often excluded from mainstream credit - typically younger people and migrants in the UK who do not have a significant credit footprint.
The Money Platform is a recognised industry leader in developing new ways of credit assessing, building on insights developed over 7 years of lending and decades of collective experience. Our goal is to remove barriers to mainstream finance for the financially excluded. We have recently been named the winner of the annual Financial Inclusion award and shortlisted for Ethical Lender of the Year in the Peer-2-Peer Finance Awards.

I’m a Borrower - how quickly does my loan take to arrive?

Once your funds have been transferred you will get an email confirming the transfer. Following this email it can take 2-8 hours for them to arrive in your bank account. Transfers are made at 9am and 3pm on working days.

I’m thinking of Borrowing - what makes The Money Platform’s loans better?

At The Money Platform we are building a new way of lending, one which connects borrowers and lenders directly, stripping out costly middlemen - the banks. Our focus is on serving our customers - cutting costs and getting you the service you need, when you need it. We’ve developed new ways of credit assessing customers, meaning we can provide those looking with a loan with better rates than might be available elsewhere, enabling us to lend to customers often excluded from mainstream finance.Our work to deliver the best outcomes for our borrowers has been recognised with The Money Platform recently named the winner of the annual Financial Inclusion award and shortlisted for Ethical Lender of the Year in the Peer-2-Peer Finance Awards.

Using Data,

Lending Better

Emily

Liam

Delia Druantia

KK

EM VB

Invest

Borrow

Learn

Helping you achieve
your financial goals

Why are TMP
Making a difference?

35,000+ Users

Reviews & Testimonials

Emily

Liam

Delia Druantia

KK

EM VB

Partners Include:

Frequently Asked Questions

Important Links

Lender's Risk Summary

Estimated reading time: 2 min

You could lose the money you invest

You are unlikely to get your money back quickly

Don't put all your eggs in one basket

The P2P platform could fail

You are unlikely to be protected if something goes wrong

If you are interested in learning more about how to protect yourself, visit the FCA's website here. For further information about investment-based crowdfunding, visit the FCA's website here.

Lender's Risk Summary

You could lose the money you invest

You are unlikely to get your money back quickly

Don't put all your eggs in one basket

The P2P platform could fail

You are unlikely to be protected if something goes wrong

If you are interested in learning more about how to protect yourself, visit the FCA's website here. For further information about investment-based crowdfunding, visit the FCA's website here.

Using Data,

Lending Better

Delia Druantia

Invest

Borrow

Learn

Helping you achieveyour financial goals

Why are TMPMaking a difference?

35,000+ Users

Reviews & Testimonials

Delia Druantia

Partners Include:

Frequently Asked Questions

The Money Platform

Important Links

If you are interested in learning more about how to protect yourself, visit the FCA's website here.

For further information about investment-based crowdfunding, visit the FCA's website here.

If you are interested in learning more about how to protect yourself, visit the FCA's website here.

For further information about investment-based crowdfunding, visit the FCA's website here.

Helping you achieve
your financial goals

Why are TMP
Making a difference?