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Lend money stress free to people you know
Loaning money to friends & family can be awkward and risky. We add security to social loans and take all the stress away.
3 steps to affordable finance
Begin by talking about the loan with your friend or family member, discuss the terms of the loan openly and decide what will be affordable for you both.
Build a loan agreement on Punk Money in seconds, then send to the other person for them to review.
If everyone is happy with the terms, just sign the agreement and connect your bank account and our platform will do the rest.
A new type of social lending platform.
It feels great to help the people you care about. But lending to friends & family has never been easy. We're putting an end to this. Helping you set up social loans in seconds. Taking care of all the heavy lifting. So you can give the people you love affordable loans without any of the stress.
Lend your money with security.
Add a layer of security when loaning your money to friends & family with a formal loan contract. Putting an end to the worries about losing your money for good.
No more awkward conversations.
Everyone hates awkward money conversations. Take these away with automated repayments. Once the loan is set up watch your money be repaid without lifting a finger.
We've got you covered
Punk Money has been designed to make borrowing and lending money between friends and family simple, fair and transparent - keeping your relationships intact.
Friends and family can be the most affordable and flexible source of finance for personal loans. But the awkwardness involved and the negative effect they can have on relationships push people towards more expensive banks, credit cards and high-cost lenders.
We are the solution - in just a few minutes, you and your friend or family member can create a loan and sign a legally binding contract.
Borrowing or lending money between people you know isn’t easy. You have to agree on the terms, keep up with the payments and rely on the trust you have.
We take the hassle out of the loans, giving you your time back and keeping things more secure.
Here are some of the reasons you should use us:
- It takes the hassle out of lending to people you know
- We handle all the paperwork, creating you a legally binding contract
- Skip the long applications (no credit checks)
- Improves your credit score
We never touch your money. We just facilitate the contract between the lender and the borrower.
Whether you want to borrow £20 for a cash top up or £10,000 for something more substantial, Punk Money has got your back.
Punk Money wants to make borrowing and lending money between friends and family as affordable as possible and accessible for everyone.
Lenders and borrowers can set the rates for the their own loans, adding interest if they wish from 0% - 10% Apr on their loans.
We allow people to add interest to their loans in order to make lending to people you know easier and more beneficial to both parties.
For example, if you need to take money out of savings in order to lend it to someone, it would be nice if you weren't out of pocket by the time they paid you back and in times of inflation, it might be nice to keep up.
Additionally if you're asking to borrow money, it might be nice to offer to sweeten the deal by adding a little interest to make lending to you more attractive than keeping their money in low earning savings.
Punk Money is designed to help people set up fair and affordable loans with their Friends and Family.
That's why we're keeping our fees as low as possible with a clear and simple pricing structure.
All loans are the same - it's a 1% arrangement fee and £1 a month connection fee for the term of the loan, plus Vat.
These fees cover the administrative and technical processes involved in setting up, maintaining and reporting on the loans.
Check out our full FAQs for more information
Remove the hassle from friends & family loans.
Automated Repayments
Make repayments without the awkward conversation. Putting an end to awkward convos.
Loan Contract
The easiest way to create a loan contract to add a layer of security to your friendly loans.
Build Credit
Removing the barriers to building your credit score. Helping everyone get on the credit ladder.
Easily add interest
Ditch the calculator. Add interest to friendly loans in one click.
Manage all in one app
Put the spreadsheet away. See the upcoming payments in one easy view.
Get started in minutes
No long applications to get started, Just enter a few details and confirm your ID.
Unsure where to start. Pick up some tips from our blog.
© All rights reserved Punk Money 2022.
Disclaimer
Punk Money Friend & Family lending is not an FCA regulated activity. Lenders and borrowers define and agree to the terms of their loans and should be comfortable with the affordability of the loan before making an agreement. Lending and borrowing cannot be done by way of business. Lenders’ capital is at risk. Funds are not protected by the Financial Services Compensation Scheme. Punk Money Limited (FRN 971343) is an Appointed Representative of CLEARFC LTD (FRN 938464) which is authorised and regulated by the Financial Conduct Authority. Punk Money and Punk.Money are registered trademarks and registered trading names of Punk Money Limited: company number 11333365, with registered address: 2nd Floor, National House, 60-66 Wardour Street, London, United Kingdom, W1F 0TA. Late and missed payments can cause you serious money problems, you should talk to the lender about the loan before it becomes an issue. If you have financial problems there is guidance available at moneyadviceservice.org.uk.