Proplend  Reviews 102

After posting a poor rating for Proplend two years ago and having stuck with them despite the rating I must now congratulate them on improving their service, reliability and credibility - thank you.

site very easy to use good range of interest rates depending on how much risk you want to take

Overall I'm very happy with Proplend.

Things to look out for are the paucity of investment opportunities (a few a month typically) and the speed with which they are snapped up. Also the minimum investment amount (£1000) is on the large side.

None of these bother me. I use the Auto-Lend facility to ensure a look-in when loans come up. Auto-Lend has priority over manual lenders and - for all but the smallest loans - guarantees you a bite of the cherry. However, it only works for Tranche A - which is what I'm going for.

I drip feed money into my (flexible ISA) account (on average a £1000 / month) as and when a loan that I want to invest in becomes available. It'll take maybe 2 years to get all the money I want invested - but that's fine - I'll be using the uninvested part for others things in the meantime.

Good range of property loans for investment, good returns with reasonably controlled risk. Especially good that that the investment can be in an ISA.

Great platform. Easy to use and some excellent yields to be had - often with low LTVs!

One reservation though: the minimum investment amount is 1,000.

@Proplend would you consider lowering the minimum investment amount? If not, why?

Thanks, T.

I’m an experienced P2P investor with a number of different sites over the last 6 years.
I’ve found this site to have a number of drawbacks and a quirky anomaly if you purchase on the secondary market with an income account.
I have an income account within an isa and the problem I experienced was caused by buying a loan on the secondary market for £1000 plus accrued interest of £4 . At the end of the month that accrued interest which was part of the purchase is paid back to my originating bank account. This can then create a problem as your total investment is effectively reduced by that accrued interest this results as in my case I then had insufficient funds to purchase my next loan as I had only £996 left instead of the £1,000 that I thought I had which stopped me from purchasing a loan until I topped my account back up .

I’ve suggested a simple solution to proplend , such as don’t pay back accrued interest on the secondary purchases , however they have had great difficulty in even recognising the problem which I found very disappointing and frustrating. If you can’t recognise a problem then you can’t fix it ?
The £1000 minimum for purchases is also a problem when trying to diversify trial sums.
It’s taken me 2 months to invest £5k in £1k loans , some loans have a minimum of £2k.
New loans are in short supply and often sell out very quickly with no way of reserving a purchase.
My other reservation is a number of loans are on the basis of retained interest payments sometimes for the loan period , this worries me as you then have no idea on the reliability of the borrower.
Time will tell if I invest further .

Transparent data on loans. Good reporting whilst loans are outstanding. Website easy to use. Interest rates attractive. Increasing number of new loans.

Great platform, professional team and good deal flow.

Been investing successfully for over a year and has worked much better than most of the other alternatives currently available in the market place.

I have invested via Proplend for over a year now and everything has been first class and very professional. The opportunities appear well researched and to date there have been no issues. Payment is very prompt and they are very responsive to any queries etc.

I have invested via Proplend for several months now and they have been very professional throughout and there have also been no problems with the loans or payment which is always prompt. In addition, they always respond very quickly with any questions I have etc. All in all very good.

Responsive customer service, easy to use website and the documentation on loans is very thorough. Would recommend highly, given the comparative security available in the lower-risk tranches. Proplend and Crowd2fund are my go-to IFISAs.

Don't worry if you don't see many loans in funding at any one time - more do come; just be ready for the 12pm next day notification and log on then to get a piece of the action. The Tranche C fills up quickly, but B and A aren't a problem to get in on.

Have been with Proplend for a few years. Never had a bad experience. Excellent website, first-rate customer service and most importantly have always felt that they can be trusted with my money.

The platform offers full transparency on the loans, which makes it a great way to invest. The website is also very clearly laid out.

It just needs more loans!

Easy to set up an account and constantly updated with offerings and investment news! Simple (and that's what I need!) dashboard with everything displayed where you want it. Good rates and plenty of information about all offerings even before they become available.
So far so good!!

I think this is an excellent place to invest part of your savings portfolio.

The new Proplend web interface makes it much easier to invest in loans and see what is happening to your account. The new web interface also seems much quicker. The Proplend team are very friendly and quick to respond to any questions, money sent across to the platform reaches your account very quickly.

Loans are security backed and Proplend keep back some loan interest and first legal charge of properties so that investor loans are as secure as they can make them.

I only have two minor niggles:
1. You can see new loans that are pending but have no idea when they will go into funding. You are then given less than 24 hours notice that the loan will go into funding at a specific time of the following day. If the loan is relatively small in value and you are not available at the chosen time of day then you will miss being able to invest.
2. Proplend work hard to build the loan pipeline but there are not a huge number of loans going live. Because of niggle 1 and because you have to be very lucky to spot when someone is selling down their loans on the Proplend Loan Exchange part of the website it is hard to build up a diversified loan portfolio.

Number of new loans limited, but those that do come to market and you are quick enough to invest in look good value.

Unclear how one gets information needed for tax return.

Easy company to deal with, with nothing hidden all crystal clear

Great ISA investment platform. Very impressive and easy to use.

Site is easy and everything seems to work. But unfortunately no new properties have been added in the 2 months since I joined