GreyWing is pleased to be linked with a new type of lending site, we call it ReLoan. It is a bit different from other lending sites out there because it clearly is a win win for borrowers and lenders.
We decided to use the new .uk platform for the site rather than stick it on the .co.uk like we would have a few years ago. As we have always said, .uk is the future and .co.uk is going to be the past in the coming years. As ReLoan won’t really be trying to compete in SEO stakes with other lenders, we can build our brand slowly and wait for the SEO benefit of .uk to increase with the search engines. For this, .uk suits our needs perfectly.
The basic business plan of the new site is to be an actual lender, we have had our lending license for many years and whilst the challenges of regulation are ever moving, we tend to survive and prosper through being competitive and innovative.
We know from research that the Guarantor Lending market is a growing sector. We know that borrowers are extremely motivated to make repayments on time because they also know that the effects of non repayment will result in a letter to their guarantor to ask for payment. We know that the returns are rewarding to lenders and that the risks are lower than other types of lending.
Our plans for ReLoan include testing the principles over the next 3 months, then bringing in investors to expand the lending platform and loan book. Hopefully our choice to launch on the .uk will turn out to be a winner, well we hope so because all of our new projects will be launched using the .co.uk to redirect traffic to the .uk domain.
Take a look over at ReLoan - Lending Through Competition
We managed to purchase Easy Loans back in the summer of 2011 and it was a nice addition to our lending portfolio.
The site is reasonably successful and over the last 4 years we have received a few offers to sell the name and the site from investors. We don't intend to sell the domain anytime soon and we are more than happy to keep it ticking along while we build our network a bit larger.
One problem with the lending industry at the moment is the constant barrage of nonsense from the FCA in the form of regulation and requests. Sometimes they even tell us where to put our contact details because they feel our visitors are so stupid they can't click on the "contact us" page and find them that way. If we don't do it they threaten to take our license from us.
Those of you that know us know that we don't tend to take ultimatums all that well and often respond in colourful language of our own. At the moment we have told them that we are not willing to comply unless we know exactly which rule it is they are relying on to request suck compliance. Currently they have failed to explain themselves and things maybe going legal pretty quick.