Relendex: peer-to-peer lending and borrowing
Find out if Relendex is the right peer-to-peer lending platform for you
Relendex is a peer-to-peer lending platform for lenders and borrowers to get together for mutually beneficial reasons. Borrowers get a competitive rate on their loan, and lenders get a competitive rate of interest on their money.
Who are Relendex?
Relendex are an online peer-to-peer lending platform that brings lenders and borrowers together to fund loans secured on UK commercial property.
How does it work?
As a lender, the process is fairly straightforward.
- Register: fill in some basic information for background checks.
- Transfer: once your account is approved, you need to transfer funds into your account.
- Lend: browse the auction marketplace and lend on live loans that suit your own criteria (e.g. size or risk)
- Grow: once a loan has been fully funded and drawndown you will start earning interest (paid out quarterly) on your funds.
As a borrower, the process is slightly more complicated.
- Criteria: you need to make sure you meet the lending criteria.
- Enquiry: once you are happy you meet the criteria, you can send off an enquiry.
- Bidding: after your enquiry is approved and all the necessary documentation processed, your loan will go live for auction.
- Borrow: once your auction reaches 100% and lawyers finalise your loan, the drawdown of funds is then arranged between solicitors.
- Repay: you will then need to repay your loan within the specified time frame.
Benefits to lenders
As a lender you can choose your own investment decisions and specify the interest rate they require. The bids you make can be from £500 to the full loan amount. The benefits include:
- Control of lending decisions.
- Decide the rate of interest and the amount to lend (from £500).
- Detailed information about the property and the borrower to help support your decision.
- Vetting, legal documentation, deal management and security.
- Risk is minimised by Relendex through careful vetting and taking security in every case.
- Lenders can manager risk by spreading across different loans.
- No membership fees and no commitment to make loans.
Benefits to borrowers
As a borrower you can get access to loans at competitive rates, the benefits include:
- Access to a highly experienced lending team.
- Online applications.
- Responsive and flexible service.
- Fixed interest rate loans.
- Can have ‘interest only’ loans if the risk allows it.
Is Relendex safe?
Yes, Relendex Limited is regulated in the United Kingdom by the Financial Conduct Authority (FCA) and entered on the Financial Services Register under FRN 723117 for Peer to Peer lenders.
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