London, UK (PRWeb UK) November 3, 2010
YES-secure.com, a social networking lending and borrowing marketplace in the UK, has decided to raise the maximum lending amount per bid on a loan from 2% to 5% of the requested loan amount. However, for lenders who are ‘connected’ to the borrower through the YES-secure community connections, the maximum amount per bid has been raised from 10% to 15% of the requested loan amount.
The YES-secure social lending platform was originally designed with the 2% bid cap to restrain inexperienced members from making large bids on a single loan request without adequately diversifying the risk. The change to enhance the bid amount to 5% comes into effect after consistent feedback from the lenders to hike up the maximum bid amount threshold in order to save time and efforts while committing larger sums on a loan request. However, the lenders always have the option to lend an amount which might be less than 5% of the requested loan amount as long as it is not less than £10 or is a multiple of £10.
All loan offers are made at the lenders’ own risk against defaults, and to diversify their risk, each loan offer bid is now pegged at a maximum of 5% of the loan listing amount to a borrower who is not part of their YES-secure community connections. If they are lending to one of their YES-secure community connections, each loan offer bid is limited to a maximum of 15%. The bids are restricted to diversify the risk by spreading your lending in small amounts to a large number of borrowers rather than bidding large amounts to very few borrowers.
YES-secure expects that this step will accelerate the lending activity on the YES-secure platform by enhancing liquidity and will go a long way in improving user experience.
More information regarding YES-secure can be found at http://www.yes-secure.com.
For more information, please contact
Ms. Mala Chauhan
0871 221 9410 extension 5440
153 East Barnet Road
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