Fund Ourselves

Why borrow with a peer to peer lender over another lender

Why borrow with a peer to peer lender over another lender

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Representative 533.24% APR
There are many reasons why borrowers are attracted to peer-to-peer lending over other traditional lenders and banks. This includes:In this guide, we take a closer look at each of the above points to explain the advantages of choosing a peer-to-peer lender over other types of lending.


Peer-to-peer lending platforms appeal to many due to the flexibility they provide to borrowers. Depending on the lender, you can borrow for a few weeks, months or years – which can be useful depending on your requirements.
With Fund Ourselves, we offer a unique propositions as a peer-to-peer lender where you can extend the loan for up to 12 months without it impacting your credit rating.
By comparison, other mainstream products such as payday loans or personal loans, can come with penalties or added interest for delayed repayment or extending your loan.
Fund Ourselves also allows you to repay your loan early, at any point, and there are no fees for doing so.

Lower costs

Peer-to-peer lenders typically charge lower rates of interest than other financial products in the UK.
Peer-to-peer lending platforms can offer lower rates since they work as marketplaces, connecting you to others who are willing to lend money to borrowers at a slightly lower rate than usual.
The benefits are clear for investors too, as those lending money to borrowers can expect to receive a strong return on investment (see high interest ISAs). However, this requires the borrower to repay the money within the agreed time frame and for the investor to keep their money invested for the duration of the loan.

All credit histories considered

Peer-to-peer lending platforms like Fund Ourselves also consider those with bad credit histories, unlike many other kinds of high street or traditional lending.
For example, with most types of personal loans advertised, you will need to have a good or fair credit score in order to be accepted. Meanwhile, for those with bad credit histories, you risk paying exorbitant interest rates through payday loans or using secured loans, where your collateral is at risk.
The reason that peer-to-peer lending is able to consider bad credit histories is because there are investors on the other side of the portal who are willing to lend to riskier credit profiles – in the aim that they will earn a higher interest rate than a typical ISA.
The ability to offer affordable finance to both good credit and bad credit customers makes peer-to-peer loans a very accessible and attractive proposition for a lot of people.

Why choose Fund Ourselves?

  • - 5 minutes application / instant decision
  • - Money in account in the same day
  • - Flexible repayments
  • - No early payment fees
  • - No hidden costs / No hidden fees
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Warning: Late repayment can cause you serious money problems. For help, go to