Peer To Peer: Invest In Financial Wellbeing with Leap
When it comes to P2P, it’s a surprisingly optimistic time to be investing.
Even though the rest of the financial market is extremely volatile, hit hard by coronavirus and the lockdown, the P2P market remains mostly unaffected.
With high-quality portfolios or borrowers looking to improve their finances, and in-turn their financial wellbeing, investing in peer-to-peer allows you to confidently invest in people.
What Is Financial Wellbeing?
Financial wellbeing by definition is how your financial situation impacts or governs your quality of life.
Having poor financial wellbeing can have an impact on mental health, physical health, your ability to work, your relationships and more. So it’s important for everyone, regardless of your financial situation, to continuously aim to improve financial wellbeing.
Debt plays a big part in poor financial wellbeing. With high-interest rates and poor credit checks, it’s not difficult for debt to spiral – especially when you throw in a financial crisis like COVID.
What Does P2P Have To Do With Financial Wellbeing?
Our loans are predominantly offered as a refinance loan, helping those who have amassed high-interest debts by paying off those debts at a lower interest rate.
They’ll pay less money over time and be able to clear their debts quicker. In fact, we don’t charge for early repayments or over-repayments to encourage our borrowers to clear their debts.
But some people won’t have any alternatives available to them.
So, we want to make sure we offer loans to those who we feel will improve their financial wellbeing.
Our thorough credit and affordability checks are our way of safeguarding our borrower’s financial situation whilst protecting our investor’s money.
What Are The Benefits Of Investing In P2P With Leap?
We’ve built a fair and transparent platform that allows both our borrowers and investors to thrive.
You can be confident when investing with Leap. We have built a process and integrated OpenBanking so we can make sure that the loans we offer to our borrowers are affordable.
If the borrower cannot repay or has to stretch their finances to make the repayment, this will have a negative impact on their quality of life. But this also means that an investors earnings will suffer from any defaults on repayments.
We have a robust and thorough vetting system in order to confidently offer loans that we know will help both our borrowers and investors reach their financial goals – not deter from them.
Another benefit of investing with our peer-to-peer platform is the interest rate we can offer. Based on your previous experience and risk level, we can offer up to 5% returns over 1-5 years.
Like all P2P platforms, your investment is not protected by the FSCS and your money is at risk. Find out more about how we manage the risks of investing in P2P.
Finally, you’ll be helping others improve their financial wellbeing. With peer-to-peer investing, your money will be going directly to a number of borrowers who are refinancing their debts and working towards a better financial future.
Now, more than ever, the importance of investing in community and financial wellbeing is great. You can feel comfortable knowing that your money is doing good in the world, whilst also helping you achieve your future financial goals.
See how much you can earn when you invest in people with our Interest Calculator.