Proplend, a UK based peer to peer lender in the property space, recently announced that its platform lending has surpassed 40 million. The company also noted that it also retains a maximum rating from specialist P2P lending rating agency, 4thWay. PropLend reported that 4thWay recently revised its platform rating system and now Proplend sits in the second position among all platforms rated on 4thWay’s Peer to Peer Lending comparison table.
“To put a 3 plus ‘Exceptional’ rating in perspective, Proplend is one of only 10 providers with the maximum rating – with other UK platforms rated, excellent, fair and a number ‘not rated’ (not passing 4thWay’s standard tests). Whilst any plus rating should be considered as a good investment on the new basis, the quality of Proplend’s security and excellent interest rates were cited as reasons for the 3 plus award for both their Classic account and tax-free Innovative Finance ISA.”
PropLend also explained that the top-rated P2P platforms were separated in the 4thWay comparison table by a corresponding risk score out of 10 – 1 being the lowest risk. Proplend’s “fantastically low” 3/10 score for its Tranche A, up to 50% LTV investments, only bettered in 4thWay’s opinion by one other Peer to Peer provider.
“Naturally, with higher loan to value exposure and correspondingly higher returns, Proplend Tranche B and C investments have a higher 7/10 risk score – the same as Zopa Plus but with significantly higher returns after bad debts are taken into account. Or as 4thWay put it – Proplend B and C loans “are still top-rated loans”, just not quite as impressive as Tranche A.”
PropLend then added:
“Whether scrutinised against Basel-style, severe recession and property crash test conditions, or simply compared to the traditional low-return or high volatility cash and stock market options, Peer to Peer lending and IFISA represent increasingly mainstream and proven investments. Proplend’s “fantastically good security” and choice of LTV-based investments continue to stand out from the crowd however 4thWay have evaluated its proposition. Why not take a few minutes to register for a Classic account or ISA today and evaluate our investment opportunities for yourself.”
Proplend introduced an online portal for advisers and wealth managers last year and at the beginning of 2017 received full authorization from the Financial Conduct Authority thus paving the way to launch an IFISA.