MoneyThing is a trading name of Capital Mortages Direct, Registered in England & Wales. The registered office is at 39 Church Crescent, Whetstone, London, N20 0JR (Company No. 05254797). Capital Mortgages Direct Limited is (interim) authorised and regulated by the Financial Conduct Authority (No. 562505).
Capital Mortgages Direct Limited is not covered by the Financial Services Compensation Scheme.
Interest will accumulate in your account after the first month’s anniversary of funding a loan and can be drawn down at any time via the platform from then on. Your loan capital can be drawn down at the end of the loan term, once the borrower has paid back all the capital and interest. You will be notified by email once the live loan is complete and all available funds will be shown in your account for you to either withdraw or reinvest in a new loan.
All funds that you deposit with MoneyThing are held in a non-interest bearing segregated client money account. All funds that you place into a loan are remitted to the borrower. During the term of the loan, interest is paid monthly into your MoneyThing account and at term, the capital is repaid into the same segregated client money account.
Once you have registered on the platform, you will be provided with simple guidance on funding your account. This can be done via bank transfer.
Once lenders have cleared funds onto their chosen loan(s) they will begin earning interest. This is because you are simply buying the loan already pre-financed directly by MoneyThing. This means you will be earning interest from the minute fund are invested in a loan.
We lend to a wide range of businesses. All our loans are added to the platform with a loan description, amount, and loan-to-value ratio. We will provide additional documentation such as an independent valuation report where appropriate. Please read our Risk Statement for further details of the risks of lending though MoneyThing.
Lenders can deposit from as little as £1. There is no maximum.
MoneyThing typically offer 1% per month interest. However, this varies depending on the type of loan and the level of risk. Loans that we deem to be a higher level of risk attract a higher rate. Loans that we deem to be a lower level of risk will be priced accordingly. It is your choice of course which loans you wish to invest in.
Loans on our platform can have a term time of anywhere between 3 to 36 months. Borrowers also have the ability to repay their loan early at any time.
When you invest in a loan you are committed for the term. MoneyThing does have a secondary market where you can sell your loan to other lenders if you wish to exit early. However, please be aware that you can only sell your loan subject to finding another lender to buy it.