FundingSecure: 13% Interest + 2% Bonus Tomorrow Only!

FundingSecure is a peer-to-peer lending company has been lending your money while securing it against valuable items, such as power boats and mansions.

Interest rates have been close to 13%, on average, but no lender has lost any money on loans gone bad.

FundingSecure has three outstanding loans. Once a loan is fully funded it is closed to new lenders; you can't offer a lower interest rate to under cut existing lenders.

Loan secured against a unique library of 15th-19th century Italian books

• Interest rate: 13% fixed. 15% (2% bonus) if you lend at least £10,000.
• Already funded: £140,000.
• Total loan amount: £165,000.
• Total loan amount when adding a previous FundingSecure loan: £1,125,000.
• Estimated value: £3,000,000 (although a more recent, more complete independent evaluation valued the books at £5,000,000).
• Loan size compared to : 37.5%

This loan is due to close tomorrow, 15 January.

Loan secured against a groundbreaking new power boat

This power boat is a 2014, one-of-a-kind, F1 design that is already being copied in the designs of some high-performance luxury yachts.

• Interest rate: 13% fixed.
• Already funded: £193,000.
• Total loan amount: £200,000.
• This boat also has another FundingSecure loan against it of £250,000. Both loans have equal priority.
• Estimated value of the boat, which can be sold if borrower doesn't pay: £800,000. This valuation is “heavily discounted” to allow for its lower, second-hand resale price.
• Total loan size compared to value of the power boat: 56%.

This loan was due to close on 27 December, but has been extended to tomorrow, 15 January.

Loan secured against a mansion (almost)

• Interest rate: 13% fixed. 15% (2% bonus) if you lend £25,000 or more.
• Already funded: £330,000.
• Total loan amount: £540,000.
• Estimated value of the property: £950,000.
• Loan size compared to property value: 57%.

This loan is due to close on 16 January.

Loan secured against large property

• Interest rate: 12% fixed.
• Already funded: £16,000.
• Total loan amount: £30,000, although there is another outstanding loan of £75,000.
• Estimated value of the property: £800,000.
• Loan size compared to property value: 13% (both loans).

This is the second loan against this property, a 5.6 acre estate in the County of Morayshire in Scotland. The other loan is for £75,000 on 4 December. The maximum the borrower is allowed to borrow is 34% of the property's valuation, which is £275,000. All loans are equally weighted when it comes to a default.

This loan is due to close on 16 January.

Commission: we don’t receive any commission from any of the P2P lending companies mentioned in this article for publishing their calculated 4thWay^® Risk Ratings and our editorially independent 4thWay^® Insight Reports, which are our own proprietary research products to help individual lenders like you make good investment decisions. We do not take commission for including P2P lending companies in our free comparison tables. All P2P lending companies will be included over the next few weeks. Learn How we earn money fairly with your help.