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Lender Fees
Proplend passes on 100% of the interest paid by the Borrower to Lenders and then charges a fully transparent Lender fee.
We don’t hide our fees by charging the Borrower one interest rate and paying Lenders another. If you as a Lender are not receiving 100% of the interest being paid by the Borrower, no matter what the platforms says, you ARE paying a Lender fee!
Tax treatment of the income your earn depends on individual circumstances and may be subject to change in the future.
Proplend Lender Fee
The platform charges a Lender Fee equal to 10% of the gross interest that the Borrower pays to Lenders. These fees are deducted each time a Borrower makes an interest payment.
For example:
An investment of £1,000 at 7.5% pa gross interest would result in a monthly gross interest payment of £6.25.
The £6.25 is paid into Lenders Proplend Account after which the 10% fee of £0.625 would be debited.
The Lender Fee is applicable to regular interest, penalty interest, any pre-draw down interest and Early Redemption Charges (if applicable).
Loan Sale Fee
When selling active loan parts on the Proplend Loan Exchange (PLE) the selling Lender will pay a Fee of 0.5% of the outstanding face value of the loan part being sold.
This fee will only be deducted from the sale proceeds following a successful sale.
The fee to sell a £1,000 loan part is £5.
No ISA-specific charges
Unlike many ISA providers, there is no charge for account opening and no charge for the administration of ISA transfers in or out, nor a minimum amount you can transfer.
We do reserve the right to charge for extra admin caused by Investor breaches of ISA rules (‘Voids’), which will be advised on a case by case basis.