Helping you achieve 5% AER on your savings through our innovative Peer to Peer lending system.
Lending for a 2 Year term : Minimum £1,000 – Maximum £15,000
Lending for a 3 Year term : Minimum £1,000 – Maximum £25,000
Please be aware that we require all transactions to be entered into at our office in Burnley following a face-to-face interview. Please do not provide us with any cheques or cash in the post. No postal applications will be considered.
We are delighted to confirm that our 5% AER Waiting List will be reopening Monday the 24th of March 2014!
If you are interested in becoming a lender with Burnley Savings and Loans Ltd, please contact us on 01282 454 744 when the waiting list has reopened.
If you require any further information, please contact us here.
- 1. Lending Your Money to Achieve a Return
We act as a link between people who have some money and would like to make a decent return on it, and people looking for different types of loans. We put the two together and achieve a rate of 5% AER on the monies loaned onward to others. Crowd funding of this type, pooling the resources of a large number of people, creates financial fire power that can be used to make the returns better than those given by a high street bank (particularly because our overheads are low, relative to a high street bank). People can lend a minimum of £1000 and a maximum of £25,000. If you would like more information, please follow the link.
- 2. We structure your lending to Borrowers to provide for two options – an option to withdraw your lending after 2 years and an option to withdraw your lending after 3 years.
- 3. Terms of Borrowing and Lending
Card payment, cheques* and cash** accepted.
All we require you to provide is 1 proof of signature, such as a driver’s licence, passport or bank card, and 1 proof of address, such as a council tax or utility bill, dated within the last 60 days.
For legal reasons, this has to be structured as a form of direct lending to the people and businesses we help. To keep track administratively we operate a passbook type system which works like an account for the money you wish us to help you use.
What is the Burnley Savings and Loans Ltd NEW innovative Peer to Peer lending system?
The Burnley Savings and Loans Ltd Peer to Peer lending system is where, in effect, you lend your savings to a borrower, and that borrower then becomes responsible for the paying of the loans. Burnley Savings and Loans Ltd do the administration around this, and are responsible for vetting applicants for loans.
All your money is fully guaranteed, because if the borrower defaults on their finance agreement, there is a 100% guarantee from Mr David Fishwick in relation to this element of the loan.
Email us on our enquiries page if you would like any further information!
* Cheques to be made payable to Burnley Savings and Loans Ltd
** Maximum amount of cash accepted £2,000 per customer