Referrals Links and Sign Up Bonuses

This page contains all the the referral links and sign bonuses I currently display throughout the Proptechfish blog.


Referral Link for Bricklane

This link provides a referral bonus of £225 when a new customer signs up and invests £5000 using the link (T&C’s apply). The bonus is split £125 to the new customer and £100 to, any bonuses received by this blog go towards the cost of maintaining an advert free blog and will be warmly appreciated.


Referral Link For Brickowner

This link provides a referral bonus of £100 when a new customer signs up and invests £1000 using the link (T&C’s apply). The bonus is split £50 to the new customer and £50 to, any bonuses received by this blog go towards the cost of maintaining an advert free blog and will be warmly appreciated. 


Referral Link For Funding Circle

This link provides a referral bonus of £100 Amazon gift card when a new customer signs up and invests £2000 for a full calendar month using the link (T&C’s apply). The bonus is split £50 gift card to the new customer and £50 gift card to Any bonuses received by this blog go towards the cost of maintaining an advert free blog and will be warmly appreciated.


Referral Link for Landbay

This link provides a referral bonus of £100 when a new customer signs up and invests £5000 using the link (T&C’s apply). The bonus is split £50 to the new customer and £50 to, any bonuses received by this blog go towards the cost of maintaining an advert free blog and will be warmly appreciated. 


Referral Link for Lending Works

This link provides a referral bonus of £100 when a new customer signs up and invests £1000 using the link (T&C’s apply). The bonus is split £50 to the new customer and £50 to, any bonuses received by this blog go towards the cost of maintaining an advert free blog and will be warmly appreciated.


The referral link for Lendy has been removed because I am no longer willing to lend on their platform. The other platforms I review that do not have a Referral Link/a Sign Up Bonus is because there is no Link/Bonus readily available for their platform at this the time.

Assetz Capital – 6 Month Results

6 Month Results (MLA Account With Cash Sweep to QAA Only)

The first 6 months results of investing through the Assetz Capital platform are as follows –

Expected ROI (Annualised) 8.75%
Actual ROI (Annualised) 5.66%

The ‘Expected ROI’ figure is taken from the dashboard readout as the average rate across all loans invested in. The ‘Actual ROI’ at 5.66% is a little underwhelming to say the least. In this 6 month period I would say Assetz have displayed one of the most impressive loan generation rates I have come across. Unfortunately though with volume of loans comes volume of late payments and problematic loans. I would say Assetz have displayed a considerable level of vigilance in dealing with problematic loans, despite carrying so many loans they have been very quick to suspend trading of loans when problems arise and for the most part late payments are rectified within a few weeks.

Cash drag has been a bit of an issue when assigning funds to loan offerings too. It can take anywhere from 12-36 hours for allocated funds to be accepted to an existing loan. A new loan can take longer as it needs to be filled before being activated. That said Assetz do operate a sweep function which ‘sweeps’ idle and awaiting allocation funds into the Quick Access Account (QAA) where in earns 4.10% pa. So it doesn’t really explain the deficit, even when considering the relative infancy (account rollup) of the account I still would have expected to see a rate closer to 7.00%.

The Assetz Capital platform also like to run ‘Cashback’ promotions and in this period they ran a promotion called the ‘Summer Holiday Cashback’. Essentially they offer an additional 1.00% cashback on newly lent funds either within a set deadline or to a set total pot of funds. As a big retailer might say ‘every little helps!’

A new Assetz Platform

Assetz Capital have announced the launch of a new platform, Assetz Exchange. The platform will focus on equity offerings in Buy to Let and Homes of Multiple Occupancy. Investors will buy shares in a property with a hope for future appreciation in the property/share price alongside receiving a rental dividend. The platform is due to launch in early 2019. I will publish more on this in due course.


I’m relatively happy with my experience of Assetz Capital so far, the company seems to be a professional, competent and well run outfit. The loan offerings are of a relatively higher quality then some other platforms. I’m a little mystified by the wide deficit in the ‘Expected’ and ‘Actual’ rates but it’s too early to draw any definite conclusion as to the cause. So Assetz will remain in my portfolio for now and I will look to increase my holding with them in the short term.

Ablrate Results – 6 Month Results

6 Month Results

The first 6 months results of investing through the Ablrate platform as as follows –

Expected ROI (Annualised) 12.50%
Actual ROI (Annualised) 5.32%

The ‘Expected ROI’ figure on this example is taken from Ablrate’s own marketing material (an average of 10-15%). The ‘Actual ROI’ looks bad but there are a few things to factor in, firstly I utilised the secondary market place for most of my buy-in’s to loan parts inataily. Ablrate offer a premium/discount secondary market place with a small transaction fee. Some of the loan parts were bought at small premium too when considering their relative position in the returns cycle. So the returns for the first couple of months of my account were actually negative. If I was to exclude those factors I think the the returns would be much closer to the ‘Expected ROI’ figure.

Also within the first 6 month period turbulence was experienced in respect to specific loan repayments. I’m not inclined to discus specific loans but the kind of turbulence experienced included, late payments, missed payments and ultimately a number of loans being suspended. While problems are to be expected with-in the P2P lending sector, what really matters is a platforms ability to remedy those problems. Over the period I would say 20.00% of my loan holdings have had problems but half of those were brought back on track, the other 10.00% have been adequately updated and are within weeks of a proposed remedy. 10.00% problematic loan parts are about in line with what to expect across the lending sector so not a major concern.

My only slight disappointment with Ablrate so far is that their loan origination is one of the slowest I have come across. Meaning minimal diversification (1% or lower in each loan) is neigh on impossible within a reasonable length of time. Unless you utilise the secondary market (which I did) but that costs returns upfront. Of course the positive spin is they are taking longer in offering decent quality loans, which I recognise. The loan offerings I have looked at seem to be a higher quality compared to some other higher volume platforms.

Company news

By the end of this period completed loans were in excess of £42’000’000, interest paid to borrowers was over £5’200’000. Ablrate announced the intention to launch a funding round via the CrowdCube equity platform at the start of 2019, more to follow on this in the next results update.


I really like Ablrate from what I have seen so far, they seem like a well run platform full of quality professionals who seem to take their responsibility for lenders money seriously. Loan generation is a bit of a let down but I accept it in exchange for an improved level due diligence and loan quality offering. As far as my portfolio goes the traditional parameters I apply of returns over time are restricting further deposits right now. So yes deposits will be increased but it’s just a case of when the realised returns are high enough to allow it.

Funding Secure – 12 Month Results

12 month results

The first full year results for lending through Funding Secure are as follows –

Expected ROI (Annualised) 12.00%
Actual ROI (Annualised) 3.08%

The ‘Expected ROI’ figure is taken from the average headline figure across each of the loan parts held over the last 12 months. The ‘Actual ROI’ has come in significantly lower at 3.08%. Now the first thing to say is any platform that offers 12.00 – 16.00% potential returns is inherently high risk as the borrower would paying an interest rate of 20.00 – 30.00%. Part of the reason the return figure is so low is because I’ve chosen to withdraw most of the repayments given a slightly skewed figure based on remaining problematic loans. That said approximately 50.00% of the loans I lent against are gone overdue some of these are in default with little prospect for recovery. Most of the income has been generated by selling the loan parts early at a discount which has also applied downward pressure on returns.

Funding Secure boasts total lending of in excess of £290,000,000 up to the end of these 12 months, with active investors (which it calls members) in excess of of 5000.


So although it looks bad I’m still refining my approach to lending with Funding Secure and I think an improved strategy could deliver  more worthwhile returns. For now Funding Secure will remain active in my portfolio in measured way while I continue to experiment, but i’m under no illusions it will be one the highest risk platforms in my portfolio.

Lendy – 18 Month Results

18 month review

I have got to 18 months lending through the Lendy platform and the results are follows –

Expected ROI (Annualised) 11.50%
Actual ROI (Annualised) 2.39%

In my previous Lendy review ( Lendy Results – 12 Month ) I was quite critical of Lendy and made clear that if things did not improve that they would not continue within in my portfolio. I’m afraid things have not only not improved they have got considerably worse.

The ‘Expected ROI’ is taken from the average headline return of the loan parts I hold. The ‘Actual ROI’ is what was achieved over the previous 12 months and at 2.39% theres is clearly something seriously wrong with this picture. It should be repeated that I only hold a remnant of ‘bad/unsellable’ loans with Lendy so the the returns should naturally be underwhelming, that said all of remaining loan parts are overdue payment some approaching three years. Total recovery on these problem loans has been less than 1.00% of balance over the last six months, which is pitiful.

Lendy and approximately 5000 lenders are now also facing legal action via one particular borrower for substantial damages, this is a live legal action so i can not comment on the merits of the claim, but all I would say is nobody saw this coming or even considered this a possibility. Further to this it would appear Lendy have actively attempted to manipulate review sites by not only removing even slightly negative reviews within minutes of posting but also replacing them with very dubious positive reviews that read as if the poster has little internal knowledge of the platform (ie.possibly paid for reviews), unfortunately this can’t be proved unequivocally without access to internal databases, which of course will never happen, but I think the damage to integrity with the lender base who are aware of this situation, has already been done.



It’s looking very bleak for Lendy and it’s difficult to see how it will ever turn things around and rebuild trust with it’s lender base. Lendy unfortunately seem to have viewed it’s lender base with absolute contempt over the last 12 months. I have made the firm decision to no longer invest with Lendy and as a result all referral links with-in this blog have been removed. Even if Lendy miraculously recover the outstanding funds and return to a double digit projected annual return over the next 3 months there is no-way I will return (at least under current management) as their integrity, in my eyes at least has been destroyed. I will still continue to report on Lendy every 6 months while a balance remains outstanding but only in the capacity of a recovery.

Funding Circle – 18 Month Results

18 Month Results

The results for lending through Funding Circle over the past 18 months are as follows –

Expected ROI (Annualised) 7.20%
Actual ROI (Annualised) 8.23%

The ‘Expected ROI’ is taken from Funding Circles own marketing material. The ‘Actual ROI’ has come in significantly higher. The ‘Expected’ figure takes into account a predicted level of defaults, I only had one loan part in the 18 months ‘downgraded’. This meant the loan part in question issued a warning of possible problems with repayments, despite this the loan part still made and is continuing to make repayments, so I think I have lucky with my account performing above average, which explains why I’m currently running over 1.00% above Funding Circles own predictions. This of course is likely to change as loan holdings mature and the likelihood of missed repayments increases.

The other big news for Funding Circle in this 6 month period since the last results, is the conformation of it’s IPO. Due to launch in October 2018 this IPO is highly anticipated as being the first P2P company to IPO in the UK. Other IPOs for P2P companies have previously taken place on the other side of the pond with concerning results. Lending Club IPOd in 2014 with it’s share price dropping 30% within weeks, in now trades (09/2018) at a huge 85.00% discount on IPO price. A similar pattern is being expected by many financial analyst for Funding Circle.


Funding Circle is doing more than enough in both terms ‘Actual Returns’ and future prospects of continued returns to maintain its position as an integral part of my portfolio.

Referral Link For Funding Circle

This link provides a referral bonus of £100 Amazon gift card when a new customer signs up and invests £2000 for a full calendar month using the link (T&C’s apply). The bonus is split £50 gift card to the new customer and £50 gift card to Any bonuses received by this blog go towards the cost of maintaining an advert free blog and will be warmly appreciated.

Portfolio Review – 2018

It’s been a mixed bag for my Investment Portfolio in 2018.

The losers

Collateral UK – announced it was entering administration in February 2018 following instruction by the UK regulator (FCA). It would appear Collateral UK were operating without the necessary regulatory permissions. The administration and wind up of this loan book continues at a frustrating slow pace. At this moment in time I’m still recording Collaterals balance within my portfolio as i am none the wiser on a possible recovery figure approaching 12 months after commencement of the administration. I have however revised any projected future (since February 2018) return on investment to zero. If recovery is anything close to zero it will put my overall portfolio at a serious loss.

Lendy – has had a really rough year with as much as 60.00% of it’s live loan book falling behind or in to default. This has given rise to an onslaught of lender anger towards the platform with many lenders choosing to withdraw all available balance and leave Lendy as a sore memory, including myself. This mass withdrawal has only exacerbated Lendy’s liquidity problem. Furthermore legal action is now under way by a borrower against approximately 5000 lenders and Lendy itself, a situation nobody predicted or even considered possible. This action has only further infuriated many lenders and is proving to be a further nail in the coffin for Lendy’s future. As well as this many Lenders decided to vent their frustrations via Trustpilot reviews only to have anything even slightly negative removed within minutes and replaced by what appeared to be entirely contrived and possibly paid for reviews, this further added fuel to the fire and ruined any integrity Lendy might have held with many lenders. Lendy attempted to end the year a note of humility by issuing a formal apology to all Lenders for the situation, I believe for the first time. However there may be a feeling of far too little too late, with a growing sentiment of not if Lendy go under but when. Obviously Lendy are no longer active within my portfolio going forward but I will continue to report every 6 months while funds remain outstanding on the platform.

Funding Secure – has also had problems with defaulting loans, dubious valuations, inadequate communication and poor levels of recovery. Now I’ve never really had the confidence in Funding Secure or received high enough returns to get significantly invested, so although I have reduced my holding to a handful of unsellable loan parts my return to date is not too bad and providing the remaining loan parts see some decent resolution over the next few months it’s possible Funding Secure may retain its place in my portfolio going forward, at least in a small way. I am however aware, and sympathetic of individuals who have been acutely and severely affected by losses thorough Funding Secure, so I remain unconvinced for now.

The stand out performers

Funding Circle – IPO’d back in October 2018 and it’s share price plummeted over the following weeks by as much as 45.00%. I have also heard of many bad experiences and criticisms particularly over a number of loans Funding Circle issued that subsequently defaulted prior to even a first repayment. To date I have only recently gained my 2nd downgraded (problematic/defaulting) loan part which makes up a small proportion of my overall return, in fact my rate of return for 2018 ended a little north of 8.50%. Funding Circle remained unprofitable in 2018 and no doubt the sizable drop in share price hurt a little but as a result of the IPO Funding Circle should be well funded for the next year and I would hope they return to a profit and reduce the need for an extensive market budget in 2019.

Money Thing – out performed any other platform with a return of over 10.00% in 2018. This is partly down to a few loans offering cash back and subsequently not filling or being relaunched meaning cashback was earned without the long term commitment of principle. Moneything has been one the fairest platforms in my experience in dealing with lenders in 2018, reaching out to it’s lender base for recommendations on how to get sizable loan offerings filled and actively engaging in feedback on how better to deliver it’s platform to the market. For me it’s still relatively early days on the platform and I’m yet to realise a default whereas others with much longer experiences of Moneything have and suffered sizable losses as a result. For that reason I don’t expect 2019 to deliver quite as impressive returns, but right now I really rate Moneything.

We Lend Us – soft launched in December 2017 and from nothing has grown it’s loan book to over £1.5 million by the end of 2018, made up of maximum loans of just £500. We Lend Us only offer short term, payday style loans so it’s offering is inherently risky coupled with it’s infancy so I’m still progressing very cautiously. That said with a 2018 return over 8.00% I can’t, not consider We Lend Us as standout performer. I have had some specific issues with communication but I can put that down to early day growing pains and I don’t see it as a major concern. For 2019 I’m expecting a further improved return as well as the platform maturing in to sizable force with in the short term lending P2P sector.

Unbolted – again delivering north of 8.00% in 2018 has to be considered a stand out performer. I would describe Unbolted as ‘a quite grafter’, it gets the job done as expected without much fuss, other than that there’s not really much more to say. I’m anticipating more of the same in 2019.

Ablrate –  is the newest of the standout performers in 2018 reaching over 8.00%  projected annual return on investment in just 8 months. It could be higher if I chose to utilise the secondary market place to buy up more discounted loan parts. Ablerate as a company seem to be a well run outfit able to attract a higher caliber of loan offeringing than some platforms. Again it’s still early days for me on Ablrate so I’m yet to experience any major issues with my loan holdings, although I have had late payments the speed (usually within a few weeks) these issues were resolved puts most other platforms to shame.


My outlook for 2019

Possible portfolio additions

I constantly look to strengthen and evolve my portfolio and one way of doing this is by adding new P2P platforms to the portfolio. I currently have 47 platforms (mostly P2P) listed at various stages of due diligence and review. 10 of these are short listed and maybe added in 2019. These include –

Propify – A UK property development loan P2P specialist that utilises blockchain technology, due to launch in early 2019 (I’m a minor shareholder).

Landlordinvest – A UK rental equality P2P platform with returns of up to 12.00% pa.

Kuflink – A UK short term P2P loan specialist dealing mainly with property, returns of 7.20% pa.

Relendex – A UK commercial property P2P lender, returns up to 10.00% pa.

Crowdstacker – A UK business P2P lender, returns up to 7.50% pa.

Lending Crowd – A UK business P2P lender, returns up to 6.00% pa.

Thincats – A UK business P2P lender, returns of up to 7.50% pa.

Crowdproperty –  A UK property specialist P2P lender, returns of up to 8.00% pa.

Crowd to Fund – A UK business P2P lender, returns up to 8.70% pa.

Linked Finance – An Irish business specialist P2P lender, returns up to 12.00% pa.

Expectations for my portfolio. 

As my portfolio continues to mature and I weed out under performers I would like to see a further stabilisation of monthly returns but with a backdrop of consistent growth in 2019. Although I managed growth in every month of 2018 a couple of months were very close to the wire. I’m fully anticipating one or two P2P platforms to call it a day or be forced to call it a day in 2019 for which I hope I am sufficiently positioned to not be too acutely affected.

The year ahead for the P2P industry.

For the P2P sector specifically, despite early signs of a movement of high street banks back in to the ‘risker’ areas of lending that P2P now operate in. I think P2P will continue to grow on a loyal lender base that high street banks have shunned for the last decade with negative interest rates (considering inflation). The stronger P2P platforms will thrive while the less well run will fold to increased competition. A longer term prediction in to 2020/2021 is we could well see acquisitions of P2P platforms by not only other P2P platforms but also established high street banks as they look consolide the competition.

There has been some talk of a tightening of regulation in the P2P sector, while I think further regulation is inevitable I think it’s a little late in day to see any major changes take effect in 2019, although we may see some more detailed proposals take shape.

I would say the most likely P2P platform to IPO next (out of those I review) would be Landbay, possibly within the next 3 years.

The UK Economy as a whole

I think the overriding theme for the economy as a whole will be uncertainty, while Brexit remains outstanding. The Bank Of England will seek to increase the base rate if the economy allows it. There may be a slight cooling (I think a 30% drop is ludicrous) of house prices across the country while persistent uncertainty encourages potential buyers to sit on their hands. I think London will be hit harder by a cooling in house prices because it has further to fall. I actively try to avoid investing in London because of this.

I think stock markets will continue to fall in both the US and the UK for the first quarter of 2019, with a possible stabilisation around mid 2019. I sold out of my stock funds some months ago but I’m anticipating a re-entry into a UK index tracker for around April 2019.


I started this blogg two years ago with little more intention of compiling a written record of my journey in to P2P lending, made public so as to introduce P2P and relevant various platforms to individuals who are quite frankly fed up of getting a raw deal from complacent high street banks offering negative returns (considering inflation) on their hard earned and saved money. I have been truly humbled with how this blog has grown in reach over the last 12 months with no formal marketing spend, visitors have increased by 70.00% year on a year while views have increased by an unbelievable 200.00%.

So I sincerely thank you for your unexpected but greatly appreciated support over these last two years and I will continue to review platforms, and report my experiences as frankly and honestly as I am able to. I wish you all a prosperous 2019 and may we all continue to grow for the better.