Checklist

P2P platform risk checklist

Before you trust any platform with your money, run it through these checks. Tick what you can confirm, and treat anything you can't as a question to put to the platform.

Last reviewed May 2026 · by Gareth Hoyle

Due-diligence checklist

FCA-authorised to run a P2P platform (verified on the FCA Register)
Holds HMRC ISA manager status, if it offers an IFISA
Publishes its loan book, arrears and default history openly
Has lent through a downturn, not just good times
Loans are secured against assets, with a stated loan-to-value
Has a clear, documented wind-down plan if the platform fails
Offers a way to exit (e.g. secondary market) that you understand
Target rate is in line with the market, not suspiciously high
Risk warnings are upfront, not buried in the small print

You've confirmed 0 of 9.

Focus on the 9 you couldn't tick. Those are the questions to put directly to the platform before you invest. Even a full set of ticks reduces risk rather than removing it.

How to use it

This is a thinking aid, not a safety rating. A platform that ticks every box is better researched, but still carries real risk, your capital is always at risk and there is no FSCS cover for losses. For the reasoning behind each item, read how to spot a risky P2P platform and what happens if a platform goes bust.

Keep reading

Compare providers

Independent side-by-side comparison of UK IFISA providers: target rates, minimums, security and transfers.

If a platform goes bust

Wind-down plans, segregated loans and trustees: what is meant to happen to your money if a P2P platform fails, and the limits of it.

Spotting a risky platform

Warning signs and due-diligence questions to weigh before trusting any P2P platform with your money.