Applying for a Lendwise Loan
Will applying for a loan with Lendwise affect my credit score?
When you initially provide your information to Lendwise, we conduct a “Quotation Search”. This will not impact your credit score. This search takes a “snapshot” of your credit history without leaving any footprints visible to other lenders when they look at your credit report. We then use this information to evaluate if we are able to offer you a loan that can be funded on the Lendwise platform. If we can, we will send you a loan proposal for your review and acceptance. Once you accept to proceed with the loan proposal, Lendwise will carry out a full search with a view to posting the loan on the Lendwise platform so that it can be funded. Please note: a “full search” will leave a visible footprint on your credit report, as would be the case with any provider.
What if I have defaults and/or arrears on my credit report?
One of the criteria to be eligible for a Lendwise Loan is to possess a clean credit record, so there should be no arrears, defaults, CCJs, etc. We see the existence of instances such as arrears and defaults as an inability to service one’s debt properly by a borrower, which is not great if you are asking to borrow more money! Although such an instance might have been a once-off incident in the past, as a responsible lender we have a duty towards the platform lenders to present them with high quality loans to fund as well as a duty of care to borrowers by not creating further indebtedness that could be detrimental to them.
Are tuition fees and study related/maintenance expenses covered by a Lendwise Loan?
Lendwise Loans are primarily for tuition fees, where we disburse the money directly to the university. However, in some cases we can include a small amount for maintenance in the loan which would be disbursed to the student when they start their course. If eligible for the government’s post-graduate loan also, it is our understanding that this is disbursed straight into the student’s bank account to be used for either tuition, maintenance, or other study related expenses.
Can I apply for a Lendwise Loan if I’m applying for a government loan and/or a, in receipt of scholarship/other funds.
The simple answer is yes! We lend to students with scholarships and/or government post-graduate loans. Lendwise can also lend to those with existing outstanding undergraduate student loans. Furthermore morally, and as a responsible lending platform, Lendwise does take into consideration the affordability of repayments for perspective students with outstanding loans.
Can I apply for a Lendwise Loan if I am not from the UK?
Our borrowers are primarily UK residents studying for a postgraduate degree or a professional qualification who require a loan to fund their studies. We also welcome applications from other European or International candidates with an offer from a UK university or other certain European universities and/or Business Schools. If you are not a UK resident you will need to provide us with your own local credit report which is dated in the last 30 days after submitting your application online. Please note your credit report should be the official document in PDF form and should contain your Credit Score as well as your account records and payment history. Please also note that we require your Credit Report to be in English – if the report is not provided in English, you will need to have this translated in English and provide the translator’s contact details.
How does Lendwise decide whether to process a loan application to the funding stage or not?
The data in your application is used in a sophisticated algorithm to produce your score which reflects our expectation of your repayment ability and affordability of the loan; depending on where the score lies, your application will be processed for funding, rejected or sent for further review by a senior underwriter.
What are the main factors I will be assessed against?
We believe in the potential created by education, therefore we place considerable emphasis on education related variables to evaluate your application. We compare this information against the latest statistical data to derive conclusions on employability and expected salary levels that reasonably impact on your ability to repay the loan. Such variables include:
- University/Institution standing
- Course standing
- Course duration
- Study mode
- Undergraduate degree university
At the same time, we recognize the importance of other, “hard” metrics to reach a more balanced, realistic score such as:
- Credit score
- Work experience
- Loan amount
- Own contribution to studies
- Other sources of income
Will I be disqualified from applying for a loan if I have a low credit score?
No, a low credit score does not disqualify you from applying for a loan. A good-excellent credit score on the other hand, enhances your overall Lendwise score thus increasing your probabilities of being eligible for funding. However, we recognize that in many cases the low credit score will be associated with the absence of financial commitments as a result of your young age. We will treat such cases with the utmost care and diligence by having a senior member of staff in the underwriting team thoroughly examining them before reaching a final decision.
Do I need a guarantor or co-signer before I am offered a Lendwise loan?
No, you do not require a guarantor or co-signer in order to be offered a loan with Lendwise. Remember, our student-friendly loans are tailored to your personal circumstances and based on a holistic representation of your overall profile beyond just your financial profile.
How will Lendwise assess my application given I do not have any income from employment yet?
Our evaluation process caters for this possibility and resorts to assess your repayment ability and affordability based on statistical data produced by university alumni associations and other employment related agencies. This data associates employability and starting salary levels to the educational institution and course of attendance thus allowing us to replicate your expected salary levels following graduation.
Will my age affect the assessment?
The age factor is assessed in our model albeit not with a high weight. You must be at least 18 years old to be eligible to apply for a loan from our platform. As a post graduate education and professional qualification loans platform we expect most of our borrowers to be in the range of 25-35 which by reference to employability and income levels appears to be the optimum, however no application will be rejected on the merit of age provided it satisfies the minimum of 18 years.
What will happen if my application score is borderline?
If your application produces a lower or upper level borderline score we will not provide you with an immediate response. The application will be reviewed further by a senior underwriter who will exercise his/her professional judgement to decide on either processing the application further on not.
Will my loan application be successful?
Your loan application will be assessed by Lendwise once it is completed and submitted. We aim to provide you with a loan proposal that will be suitable for your education endeavours and within your projected loan repayment capabilities whilst being attractive to Lenders on a risk adjusted basis to provide loan offers. Sometimes it is not possible to match those objectives and rather than offering you a high burden debt that may potentially lead you to financial difficulties we will not proceed with a loan proposal. If this happens to be the case, we are truly sorry and hope that you are able to find alternative means to pursue your aspirations. Should you feel that your circumstances may have changed at a future date, we would encourage you to apply to Lendwise again.
*Please note that the terms “commitment fee”, “administration fee” and “origination fee” are often used interchangeably. This means that there might be instances where these terms are used to refer to the same concept. It’s important to understand that this phrasing does not indicate a preference for either term, but rather highlights the potential for their interchangeable use in various contexts.
Are interest rates the same for all loans or will I have a unique interest rate?
We do not have uniform interest rates, instead every borrower is charged a different rate commensurate to the specifics of their application. However, rates for loans in our platform tend to range between 7%-12% on average.
How is my interest rate calculated?
Interest rates quoted are a combination of three components namely term (duration) of the required loan, the general level of interest rates in the UK economy and the credit risk factor as this is determined by the scorecard result. As a general rule, shorter term loans with a low risk factor (i.e. high scorecard result) will be associated with lower interest rates.
What is an APR?
APR (Annual Percentage Rate) is an index which shows the annual % cost of a loan, in other words what it will cost you per year if you settle the loan as per the agreed repayment schedule. It takes into account any upfront fees paid by the borrower as well as the timing of repayments. It does not consider late payment fees. APR is a helpful tool as it allows you to compare the cost of similar products on a like to like basis.
How will I know the interest rate on my loan?
Once your application successfully passes the underwriting stage we will notify you by email. We will also send you our provisional loan offer with the details of the prospective loan including interest rate and APR information for your review and acceptance.
Will the interest rate on my loan change over time?
No, our interest rates are fixed. In this way you can easily budget your cash flows with regard to repayment over the term of the loan and expect no surprises following a sudden increase in the general level of interest rates in the economy.
When do I pay interest?
Interest is included in the monthly instalment as per the agreed loan schedule which you will get together with the loan agreement. Provided you pay your instalments according to plan you can expect interest to reduce gradually as time passes.
When do I start repaying my loan?
The date of the first repayment of your loan will be shown on your provisional offer details and on the loan agreement under the introductory section. You will also be able to view it under the loan repayment schedule on your Lendwise dashboard. In general, borrowers in full-time education will benefit from a grace period for the whole duration of the studies (and potentially a short period following completion of studies of up to 6 months). Repayments for borrowers in part-time education will, most of the times, commence the month after the signing of the loan agreement.
Will I have to incur any payments in relation to my loan during the period of my studies?
The period of your studies (and potentially a short period following completion of studies of up to 6 months) will be termed the “grace period”. This grace period is a period of time where no payments are expected to be made by you towards your loan, neither in relation to capital nor in relation to interest. During this grace period you will not incur any overdue interest, penalties or late fees. However, interest on your loan is calculated for throughout the whole of the grace period and added to the balance of the loan. Please note that grace periods apply to borrowers in full-time studies.
How do I know when and how much I have to pay?
The loan agreement specifies the exact date of the first and subsequent payments as well as the instalment amount payable. This information is also available on the provisional offer sent for your review and acceptance as well as by clicking on “View Payment schedule” on your dashboard following acceptance of the offer.
Where do I send the money?
Lendwise collects repayments on behalf of the lenders through direct debit once a month. We will ask you to sign a direct debit mandate once the provisional offer is accepted whereby you will provide us with the details of your bank account to use in the direct debit procedure.
Can I repay my loan early?
What will happen if I miss a repayment?
If you miss a repayment, we will contact you the following day to collect the missed payment. We will try to establish contact with you by repeating the process within the next 90 days at frequent intervals but if we cannot agree on a repayment time plan or the situation persists, and you incur further missed payments, we may terminate your agreement and refer you to a collections agency and further charges could be levied on you. Missing a repayment may result to you being charged with additional charges as stipulated in the loan agreement. It may also negatively affect your credit rating.
What happens if I have difficulty keeping up with my repayments?
We advise you to contact us in advance if you envisage any difficulties in servicing your loan in line with the loan agreement. We will try to help you by working out a fair solution. Please contact us by email at email@example.com or by telephone at 0203 890 7270.
Lendwise does not offer financial advice but you can contact the following organisations which offer free, impartial, debt advice:
Can I change my monthly repayment/Direct Debit date?
If your circumstances have changed, for example, you have changed jobs, and you wish to change the date your monthly direct debit repayments are collected, you can email firstname.lastname@example.org with your request. We require at least 2 weeks’ notice before any amendments can be made, and will do our best to accommodate your requirements. Please note, changing the date on which your monthly repayment is collected, may effect the overall amount of interest accrued. In most cases your monthly repayment amount will stay the same and any adjustment will be reflected in the final monthly repayment of your loan. We will of course notify you of any changes once your date change is confirmed.
Late Payment Information
*Before we explain the different documents and communications you receive from us if your account falls into arrears, we would like to advise that it is important to keep in touch with us if your account is in arrears or if you think you will not be able to make an upcoming payment.
We are here to help you get back on track.
What happens when I miss a payment?
We will call you to settle your missed payment on the same day. A £12 late payment fee will be applied when your payment has not been received on the contractual payment date. There will also be a 2% default interest charge on the arrears amount owed every day until the arrears have been settled. An additional £60 charge will be applied to your account if a Letter Before Action is issued, and further legal costs may occur after that until the arrears are settled.
Lendwise is a Peer-to-Peer lending platform that connects investors with borrowers, which means we are collecting on behalf of the investor.
What is a credit file?
A credit file is a record of an individual’s financial history that includes information about credit accounts, loans, and credit card balances. It is maintained by credit reference agencies and used by lenders to assess an individual’s creditworthiness when they apply for credit.
Will my credit score be affected?
The impact of a late payment on a credit score will vary from person to person and is dependent on a few different factors. Your payment history does have an impact, and how many late payments you’ve made on any credit cards, loans, or mortgages will have a negative effect.
If you consistently make late payments or aren’t able to pay for a significant time (for example, longer than 30 days), this can mean that lenders feel you aren’t able to manage your credit agreements and the payments. If you have late payments on more than one agreement, this can also affect your score negatively.
What are the consequences of defaulting on a loan?
The consequences of defaulting on a loan can be significant and long-lasting. A default can have a negative impact on your credit score, making it more difficult and expensive to obtain credit in the future.
What regulatory communications do you receive while working with a Debt Management Company (DMC) or an Individual Voluntary Arrangement (AVA)?
As an FCA-approved entity, we are required to send you regulatory emails/documents as soon as they become due. An example of this would be a Notice of Sums in Arrears.
What is a first missed payment Letter?
A first missed payment letter is a communication sent to a borrower by a lender when a scheduled payment is not received on its due date. The letter typically serves as a reminder to the borrower of the missed payment and the importance of making payments on time.
The letter may also inform the borrower of any late fees or penalties that may be charged, as well as any potential consequences of continued missed payments, such as damage to their credit score.
What is a Notice of Default Sums?
A Notice of Default Sums is a notice to inform you that you have missed a payment and will be subject to additional charges and fees.
What is a Written Notice?
A Written Notice is a letter we send to the borrower to provide important information. It’s important to read and understand any notice and take appropriate action to avoid negative consequences.
What is a Letter Before Action?
A Letter Before Action is a letter from our legal department. An additional £60 charge will be applied to your account if a Letter Before Action is issued, and further legal costs may occur after that until the arrears are settled.
What is a Notice of Sums in Arrears (NOSIA)?
A Notice of Sums in Arrears (NOSIA) is a regulatory document we issue when your account is in arrears of two contractual missed payments. We are required by law to provide you with this document, regardless of whether you have an agreement with us, are with a debt management company, or have entered into an Individual Voluntary Agreement.
What is a Letter Before Claim?
A Letter Before Claim is a letter that serves as a final warning before any legal action is taken to recover the debt.
What is Subsequent Notice of Sums in Arrears (SNOSIA)?
A Subsequent Notice of Sums in Arrears (SNOSIA) is a letter we must send you by law every six months after sending you a NOSIA until you’re up to date with your loan payment schedule.
What is a County Court Judgement?
A County Court Judgement, commonly referred to as a CCJ, is a legal mandate granted by a county court judge to recover a loan’s outstanding amount. Generally, a lender initiates legal proceedings against a borrower for non-payment of a debt, and if the court determines that the amount is indeed owed, a CCJ is issued.
The consequences of a CCJ can be detrimental to the borrower’s credit record, as it can persist on their credit file for six years and adversely affect their credit score. Furthermore, the borrower may be responsible for repaying the debt in full, along with any associated legal expenses.
What is Default?
Default refers to a situation where the borrower is unable to repay a loan as per the terms agreed with the lender. This could involve missing payments, failing to pay the due amount, or not adhering to the agreed-upon payment schedule. In the event of three missed contractual payments, Lendwise will inform TransUnion about the defaults.
Regardless of whether the borrower has paid the debt or not, a default will remain on their credit record for six years, beginning from the date of the default.
What happens when my Lendwise loan is in default?
If your Lendwise loan defaults, we may pursue different courses of action to recuperate the outstanding debt. These actions could include contacting you via phone, sending letters, initiating collection proceedings, and taking legal measures to collect the debt, which may involve a CCJ.
What penalties are imposed?
- Late Payment Fee
£12 applied when your payment ahs not been received on the contractual payment date.
- 2% default interest charged on arrears amount
This is charged on the arrears amount owing every day until arrears have been cleared.
- LBA Fee (Letter Before Action)
A charge of £60 will be added to your account should you not engage with us to cover legal proceeding costs.
What payment options are available?
In the event that you are unable to make a loan payment, it is crucial to communicate with us at the earliest opportunity. We can explore various payment alternatives for Lendwise customers who are experience difficulties repaying their loans.
These alternatives may include a payment plan, payment holiday, or loan deferment. It is worth noting that even if you opt for a reduce payment plan, interest and default interest will still be charged.
However, it is important to keep in mind that these options are not guaranteed and will be assessed for financial suitability.
How can I avoid defaulting on a loan?
To avoid defaulting on a loan, you should carefully review the terms and conditions of the loan agreement and make sure that you understand your obligations. You should also plan your finances carefully and make timely payments to avoid falling behind. If you are facing financial difficulties, contact us as soon as possible to discuss alternative repayment options.
You may also consider credit counselling or debt management programs to help you regain financial stability and improve your credit score.
The below companies/charities are there to help you
Universities We Support
Below is a list of universities/business schools we currently support for UK and international students.
Business Schools Lendwise supports for international (as well as UK) students
Here is a list of international Business Schools (and their courses) which Lendwise can accept applications from international students (non-UK citizens)
Alliance Manchester Business School, University of Manchester
– Global MBA
Chicago Booth Business School, University of Chicago
Columbia Business School, Columbia University
– Executive MBA
EDHEC Business School
– Global MBA
– Executive MBA
– Executive MBA Healthcare & Technology
Esade Business School
– Executive MBA
ESCP Business School
– Executive MBA
Essec Business School
– Global MBA
– Executive MBA
Harvard Business School, Harvard University
– Executive MBA
– Trium Global EMBA
IE Business School, IE University
– International MBA
– International MBA Bilingual
– Global Online MBA
– Executive MBA English
– Executive MBA in Spanish
– Global EMBA
– IE Brown Executive MBA
IESE Business School, University of Navarra
– Global EMBA
IMD Business School
Imperial College Business School, Imperial College
– Executive MBA
– Global MBA
– Global Executive MBA
– Tsinghua-INSEAD EMBA
– Executive Master in Finance
– Executive Master in Change
Judge Business School, University of Cambridge
– Cambridge Executive MBA
– Global Executive MBA
London Business School, University of London
– Executive MBA
– Global Masters in Management
– Sloan Masters in Leadership & Strategy
– EMBA London
– EMBA Dubai
– Global Executive MBA
MIT Sloan School of Management, Massachusetts Institute of Technology
Rotterdam School of Management, Erasmus University of Rotterdam
– International MBA
– Executive MBA
– Global EMBA
– Cologne-Rotterdam MBA
Saïd Business School, University of Oxford
– 1+1 MBA
– Executive MBA
SDA Bocconi School of Management, Universita Bocconi
– Executive MBA
– Global MBA
Warwick Business School, University of Warwick
WHU, Otto Beisheim School of Management
– Global Online MBA
Yale School of Management, Yale University
UK universities we support for UK residents
We support UK students wishing to study for their postgraduate education at all UK universities
Risk / Diversification
What are the risks involved with peer to peer lending?
Lendwise strives to minimise the risk involved with peer to peer lending. As with any form of investment, there are inherent risks and you may not get back your capital or interest. The main risk that you face as a Lender is the risk of non-repayment by borrowers. You can mitigate that risk significantly by diversifying your loan portfolio and your investment holdings in general. Other risks concern the non-liquid nature of peer to peer lending, which in simple terms means that you should not lend money that you may need prior to the maturity of a loan. Lenders could also face interest rate risk, which in simple terms means that interest rates in the economy could rise but the return on money that you have already invested remains fixed at a lower level.
Lendwise cannot advise you on the suitability of peer to peer lending for you and we suggest that if you are not sure of your risk tolerance or require advice to contact your authorised independent financial advisor.
For additional information, see Risks involved with peer-to-peer lending.
Diversify your portfolio – minimise your risk
Lendwise offers you a functional loan filtering tool, AutoLend functionality and personalised diversification statistics to enable you to diversify your portfolio and minimise your risk. For more information, check out Ways to diversify your Lending Portfolio.
Is my investment covered by the Financial Services Compensation Scheme (“FSCS”)?
It is important for our lenders to be aware that, like all P2P lending platforms, Lendwise is outside of the scope of the Financial Services Compensation Scheme (“FSCS”). This means that, should a P2P platform fail for any reason, those investing (lending) directly via the platform would not be able to claim compensation from the FSCS. The management of Lendwise is taking all necessary steps and precautions so that if such an event would take place, the money in your Lendwise account will be promptly returned to you (in compliance with FCA Client Money Rules) and the servicing of loans that you have made will continue until you have been fully repaid.
Is my capital protected and are my returns guaranteed?
Lending to Borrowers via the Lendwise platform is subject to risk and neither the amount of capital you lend nor the interest repayments are guaranteed. Your capital is at risk, and while we try our best to assess borrower applications to minimise the risk of non-repayment, you should be aware that returns are not guaranteed and use the filtering and AutoLend tools to diversify your lending portfolio and minimise the impact of any borrower not repaying.
What happens if a borrower misses their payment or defaults on their loan?
If a borrower misses (or does not pay in full) a monthly repayment we will contact the borrower to make the payment or explain their non-payment situation and will re-attempt to collect the outstanding payment. The loan will be classified as ‘in-arrears’ and we will continue our efforts to collect the payment from the borrower. Should a borrower be over 90 days in arrears we will classify the loan as ‘defaulted’ and you may face the risk of non-repayment from the specific loan. We will however, continue our efforts either internally or with the assistance of specialised agencies to recover the amounts due.
Lending with Lendwise
Why invest in education finance?
Education finance is perhaps unique in that it enables individual borrowers to achieve their academic and career aspirations and augments their probability of higher future income and repayment ability of the loans you make. As a form of Socially Responsible Investment it offers both a positive social impact and financial gain.
What are the criteria for lending with Lendwise?
To sign up with Lendwise as a Lender you must be over 18 years of age, have a UK bank account in your name and not be a lender by way of business. You must also read carefully and accept the Terms and Conditions, which detail the Lender eligibility criteria.
What are the Lender account options?
Lendwise offers lenders the ability to create a Classic or an ISA investor account. To learn more information about opening an ISA with Lendwise, please visit our IFISA key investor information.
Who are our borrowers?
Our borrowers are primarily UK residents studying for a postgraduate degree or professional qualification who require a loan to fund their studies. We also welcome applications from other European or International candidates with an offer from a Tier 1 UK university or any other top European or International university and/or Business School. Prospective borrowers complete a loan application online, which is assessed by our credit officers and credit scoring algorithm and if successful, their loan requests are presented to Lendwise Lenders for funding.
Do you charge fees for lending?
Lendwise applies a loan servicing fee that is chargeable on the interest paid by the borrower. We only apply the loan servicing fee after a borrower has paid thus aligning our objectives with your own. Lendwise does not earn fees from the lender unless the Lender receives their repayment.
Will I have to pay tax on my P2P income?
We will pay all returns to you gross, ie. without deducting any income tax. Your tax obligation will depend on your individual tax circumstances.
Lendwise will make available to you a statement of interest earned and losses suffered from bad debts in order to enable you to make the correct tax declarations and pay your taxes. For more information on Tax on peer to peer lending please visit www.gov.uk/guidance/peer-to-peer-lending
What is AutoLend?
AutoLend is a functionality of Lendwise enabling you to achieve diversification of your investments easily, which should minimise risk. It allows you to set customised lending criteria thus personalizing your lending strategy to be aligned with your desired investment objectives. For more information please see “How to Use AutoLend“
How do you ensure funds are used for their intended purpose?
Lendwise loans are primarily for tuition fees and these are usually paid directly to the academic institution involved. On certain occasions, where Lendwise’s credit assessment deems it acceptable, a small amount of study-related personal expenses may be included in the overall loan amount but the majority of the loan is usually always tuition fees.
Secondary Loan Marketplace
Can I receive funds for a loan or loans that I have made prior to their repayment?
Before committing funds to a loan, you should ensure that you are lending money that you will not need prior to the maturity of the loan. The first repayment start date and final maturity of the loan are displayed clearly on each loan listed for funding/sale on the Lendwise Platform and can also be selected as part of setting an Auto Lend portfolio.
Should you need to access the funds that you have lent before the contractual repayment dates for that loan, you have the option of selling your loan(s) through the Lendwise Platform. Loans can be made available for sale on the Lendwise Platform to other platform Lenders, and if such loans or loan parts are purchased the sale price (minus the administration fee) will be immediately credited to your Lendwise Account and be available for withdrawal or re-investment.
How do I use the Loan Sale function?
To sell your all or part of your loan or loans, you will need to submit an online application offering all or some of your loan or loans for sale (Secondary Loan Request) through the Loan Sale function. Your Secondary Loan Request will be made available for other Lenders to view on the Lendwise Platform. Lenders who wish to buy your Loan will make an offer (Secondary Loan Offer) in respect of your Secondary Loan Request. By completing a Secondary Loan Request, you are agreeing to Lendwise entering into a Transfer Agreement on your behalf. Once the Transfer Agreement is signed, Lendwise will arrange for the proceeds of the sale (minus the administration fee) to be paid into your Lendwise Account. Lendwise will notify you through the Lendwise Dashboard when your Secondary Loan Request has been accepted.
Why is the Loan Sale functionality disabled for some loans?
As soon as Lendwise is informed (or becomes aware) of arrears, defaults, payment difficulties or other adverse circumstances of a Lendwise Borrower, the loan(s) of that borrower will not be available for sale until such time as the issue has been resolved.
This is to protect Lenders from acquiring a loan without any knowledge of any potential repayment difficulties.
What is the price that I will receive for loans that I want to sell?
The sale price (which is equal to the purchase price) of any loan (or part of a loan) put up for sale is the sum of the principal outstanding for that loan (or part of a loan) plus any interest accrued up to (and including) the day before the point of sale. The amount that you will receive is the sale price minus an administration fee of 1% of the sale price (which is automatically deducted and paid to Lendwise). The price of a loan (or part of a loan) will therefore be updated on a daily basis.
What is the cost of selling loans?
An administration fee of 1% on the sale price for any loan (or part of a loan) will be charged to the seller. The platform Lender purchasing a loan (or part of a loan) will not incur any fees.
A loan that I want to sell has not been sold
For a loan (or loan part) that is listed for sale to be sold, another platform Lender needs to select (either directly or through the Auto lend function) to acquire it. Lendwise cannot make any inferences or assumptions as to either the likelihood or time required for the any sale to occur (if at all).
Can I withdraw a loan that I have put up for sale?
You can withdraw a loan that you have put up for sale (via a Secondary Loan Request) before the Transfer Agreement has been signed. Lendwise has the ability to withdraw a Secondary Loan Request that has been put up for sale at any stage and for any reason.