I don't know about you but I dream of a world free of bank managers... Life would be sweet, wouldn't it?
While it isn't entirely possible at present, there's hope on the horizon. Peer to peer lenders, also known as social lenders, are all the rage among those looking to reduce interest rates on their borrowing.
Rather than approach a bank with your loan request, you simply post it online - along with your affordability details and credit history - and investors can choose whether to invest in you.
What's more, the more investors who climb on board, the lower the interest rate you face.
To find out more about how this could work for you, check this article out.
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