YES-secure, the reliable social lending market place connecting borrowers and banks thru an internet auction process, has recently lowered the lenders’ rates for its varied markets to attract borrowers with better credit profiles to the platform. Launched in June 2010, YES-secure provides personal loans to all credit grades in the Uk consumer loans space. YES-secure provides unsecured personal loans to borrowers from A* to E credit grades and has decided to introduce a rather more balanced lending rate on the platform by capping the lenders’ offered interest rate to 18%, 19%, 21%, 23%, 25 percent and 27.5% in the A*, A, B, C, D and E borrower markets respectively.
The latest rates are bound to inspire competitive bidding and offered rates to borrowers. As a routine, market forces drive the loan rates and YES-secure only intermediates to make certain that loans are not being offered at unfair rates. Now, YES-secure requires the borrowers to have a credit report of more than 530 on the Gauge score by CallCredit (a UK credit reference agency) to get a loan, a credit score showing no defaults, no late payment delinquencies, no bankruptcies and no county court judgements (CCJ). In addition, the borrower’s income is verified through contemporary payslips and bank records. We aim to improve the potential default rate position quoted from Callcredit probabilities through detailed criteria for the benefit of our backers. The unprecedented feature of the YES-secure market-place is that it inspires the borrowers to invite their friends, family, and colleagues to join their YES-secure connections and bid on their loan listing up to 15% of the loan request at the rate they choose, bringing down the interest rate further.
And once the loan is partly subsidized thus, it might accelerate others lenders’ contribution to it. To spread the news about us, we have got our radio advert running on Sorcery FM as well as Smooth FM. As a P2P lending market-place, YES-secure has a commitment to provide competitive rates to borrowers while aiming at profitable returns to banks. More information pertaining to YES-secure can be discovered at yes-secure media release distribution For more information, please contact . Ms. Call charges from other networks may vary.