Peer-to-peer lending promised 6%, but I’ve been left red-faced and in the red

James Patterson hoped his £1,000 investment in Funding Circle would reap returns 10 times more than his bank offered. But 18 months on, he’s losing moneyWhen James Patterson invested £1,000 in the peer-to-peer (P2P) lender Funding Circle back in 2015, his hope was that his money would grow a bit faster than the pitiful rates of interest offered by his bank. At the time, the relatively new lender was promising returns of 5-6% a year – 10 times more than his bank.However, a