Lets Get Started

Update on 30/11/2016. The offer below has now expired to new accounts although if you sign up via the link below you will still receive the £100 cashback ! Please read last weeks blog but there is the potential for the below deal to expire shortly so I have posted this blog first

Following on from last week I have made our first investment.

My first investment is in the Peer to Peer lender RateSetter. Ratesetter are one of the most popular peer to peer lenders and have regularly won industry awards in the lending market. Please review ratesetter yourself if you are unsure.

There are two reasons that I chose Ratesetter for my first investment as shown below;

  1. They have a set provision fund that tracks the amount on the market each day and provides a buffer for any loans defaulted. Currently they are considered one of the most reliable peer to peer lenders given the track record and therefore I feel comfortable investing a portion of my savings with them.
  2. Secondly and most importantly for my strategy, they offer you £100 for signing up and keeping £1,000 in your account for 12 months.

I have given a code below for anybody that wishes to sign up via Ratesetter and take advantage of the initial cashback offer of £100. If you sign up on the website directly you will not access the free £100 so please use the link below.


For full disclosure, by signing up with the above link I will automatically receive £50 to my account as a refer a friend bonus. I cannot find a simple way of returning this value to anybody individually so instead I will run a competition and pick an individual at random who will receive 25% of all the sign up bonuses that week.

By offering £100 cashback on £1,000 of savings and also offering approx 4% interest on savings this generates year one income of 14%. If you review the market comparison sites for highest paying interest accounts nothing comes close to this. Once investment has been made I would advise making a note of the date of the investment so in 12 months time the monies can be withdrawn and reinvested in a similar way with another lender.

My Earnings calculation above is made up of two elements.

  1. £8.33 a month will be the £100 I will receive after 12 months. I have no intentions of withdrawing money so feel I can recognise these earnings now.
  2. £2.60 a month interest on the account.

Let me know if you have any queries regarding the above or regarding ratesetter itself. Join me next week for the second offering and investment that I make.