The Lending Hub demo site is now live with partial functionality so that users can start getting familiar with peer to peer lending. You can view information at the Help Centre, see likely loan repayment amounts our loan calculator and create a working user account and username.

Take a look around, create a username and get familiar! We'll be launching the fully functional site soon.

Lending Hub Team

Lending Hub has revealed its new design and homepage. Browse around the site to see the new face of Peer to Peer banking and lending in Australia.

Look out soon for when we launch the full site functionality!

Lending Hub Team

We have launched our blog on lending, borrowing, getting a loan in Australia and the peer to peer industry in general at  http://blog.lendinghub.com.au.

We'll be commenting each week on the progress of Lending Hub's progress behind the scenes and we'll also talk about a few of the topics that will impact Social Lending and peer to peer loans over the coming years.

Feel free to browse the blog anytime and stay tuned for ongoing developments!

Lending Hub Team

When looking for a personal loan at an Australian bank or other traditional lender you'll see that interest rates have risen significantly over the last few years. High interest rates affect all borrowers looking for funding and has made repaying a loan so much harder.

Lending Hub's Social Lending service brings a new product to the Australian market that brings lenders and borrowers together. For the first time ordinary borrowers can have several lenders bidding on their loan which can result in lower interest rates for the borrower.

Over time Peer to Peer lending will bring a new level of competition to the banks and give borrowers fairer and cheaper personal loans. The Lending Hub technology also brings online loans direct to borrowers in their homes, a new technology that the banks aren't able to offer yet.

If you are looking to borrow online for your personal loan to fund maybe a car, or a holiday or a new home extention then why not join Lending Hub and the peer to peer loan revolution!

Lending Hub uses a number of verification steps and cross checks to ensure that security is maximised for both borrowers and lenders. Borrower applications include a thorough credit history check and ID verification to ensure that lenders are able to choose which loans they would like to fund using up to date and useful borrower profiles.

All transactions are processed in an encrypted and security enabled mode with background and fraud-checking of identities, income and bank accounts. In addition Lending Hub uses a range of manual security and fraud detection mechanism to review all activity to maximise the lender and borrower experience online.

A peer to peer loan (also called P2P or person to person) is when an individual or group of individuals lend directly to a borrower. Traditionally banks allow lenders to do this by placing their spare funds in a bank account at a low interest rate. The bank will then aggregate the funds from a number of individuals and lend money to a borrower at a higher rate.

With P2P loans an online service (such as Lending Hub) will create a platform that allows borrowers to provide credit relevant information in a safe and secure environment and lenders will be able to bid on the amount they want to lend and at their selected interest rate. This unique lending model reduces the overheads (typical of larger banks) and provides a better rate for the borrower whilst ensuring decent returns for the lenders.