theFIREstarter

I first heard of P2P lending a few years ago, very soon after I started on this journey to the land of FIRE. “This is for me!” I thought almost immediately, I really liked the idea of both savers and borrowers getting a better deal from these companies than they could do from high street banks.

Then I promptly did nothing about it for about 3 years.

The reasons I had were fair enough:

• I wanted to get some money into tax wrappers and in stocks and shares first of all
• I was only just starting out on building a portfolio of investments and it’s best not to keep more than a few percent of your diversified portfolio with any one P2P provider.
• Therefore I couldn’t see the point in only investing only a few hundred into one, it just didn’t seem worth the hassle.
• Also with the Santander 123 account paying out 3% interest on the first £20K and with no real risk it seemed pointless trying to take on more risk just for a couple of extra percent interest

Now I’ve been building some equity in tax wrappers over the years, pound by pound, so have been knocking on the door of being ready to put some of our funds into P2P, but have found it hard to pull the trigger, until very recently when this news from Santander came through the post:

Bit of a game changer, right?! And I’m sure many of you shrewgal ¹ folk out there in the FIRE community will be affected by this.

So it seemed like a great time to get involved with the Ratesetter £50 Bonus Offer ² which has been flying about for a while now. Here is some information you might be wanting to know about before you trust these guys with your hard earned moolah.

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