YES-secure: A Competitive P2P Personal Loans Market for Borrowers

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YES-secure has recently capped its maximum lending rates to encourage the flow of good quality borrowers to its unsecured loans marketplace.

YES-secure Logo

We would like to popularise the concept of peer lending and bring people the option to invest in social loans”, said Dr Chandra Patni, the YES-secure CEO.

YES-secure, the trusted social lending marketplace connecting borrowers and lenders through an online auction process, has recently lowered the lenders’ rates for its various 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. With its focus on the community angle, YES-secure aims to provide a fair platform and ensure that loans are offered at attractive rates to borrowers whilst presenting potential high returns to lenders.

YES-secure provides unsecured personal loans to borrowers from A* to E credit grades and has decided to introduce a more balanced lending rate on the platform by capping the lenders’ offered rate of interest to 18%, 19%, 21%, 23%, 25% and 27.5% in the A*, A, B, C, D and E borrower markets respectively. The latest rates are bound to encourage competitive bidding and offered rates to borrowers. As a routine, market forces drive the loan rates and YES-secure only intervenes to ensure that loans are not being offered at unfair rates.

As a responsible consumer loan marketplace, YES-secure has also considerably tightened the underwriting parameters over the last few months to establish a flow of credit-assessed good quality borrowers. Currently, requires the borrowers to have a credit score of at least 530 on the Gauge score by CallCredit (a UK credit reference agency) to get a loan, a credit history showing no defaults, no late payment delinquencies, no bankruptcies and no county court judgements (CCJ). In addition, the borrower’s income is verified through recent payslips and bank statements. We include a combination of Debt to Income (DTI), Net Disposable Income (NDI) and Total Obligation to Income (TOI) ratios in our underwriting procedures to vet the borrower’s repayment capacity. We aim to improve the potential default rate position quoted from Callcredit probabilities through detailed criteria for the benefit of our investors.

The unique feature of the YES-secure marketplace is that it encourages 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, lowering the interest rate further. And once the loan is partly funded thus, it might accelerate others lenders’ contribution to it. In the process it gets better rates for borrowers and higher returns for lenders than they would through FDs!

YES-secure is gearing up to create a large customer base for social loans in the UK P2P market. To spread the word about us, we have got our radio advert running on Magic FM as well as Smooth FM. We would like to popularise the concept of peer lending and bring people the option to invest in social loans”, said Dr Chandra Patni, the YES-secure CEO.

As a P2P lending marketplace, YES-secure is committed to provide competitive rates to borrowers while aiming at worthwhile returns to lenders. The capping of maximum lenders’ rates should work to factor in an effective risk-evaluated interest rate to attract and retain a suitable category of borrowers in order to maintain a low default rate – a happy situation for both lenders and borrowers. We hope and believe that our efforts will accelerate the activity on the platform and benefit both borrowers and lenders.

More information regarding YES-secure can be found at

For more information, please contact                        
Ms. Mala Chauhan
0871 221 9410 extension 5440 Limited
Checknet House
153 East Barnet Road

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Mala Chauhan
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