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Frequently Asked Questions

GENERAL QUESTIONS

Q: Are you regulated?
Yes we are regulated under the Financial Conduct Authority (FCA) which took effect as of 1st April 2014.
Stratosphere Inc. Ltd. Is authorised and regulated by the Financial Conduct Authority (FCA) Reg No. 663814 and registered with the Information Commissioner’s Office (ICO) Reg. No. ZA037406.
It is important to note that peer to peer lending is not regulated by the Financial Services Compensation Scheme (FSCS).
However, you still have recourse to the Financial Ombudsman. This is currently being reviewed by the FCA and may be introduced in the near future with similar protection to the banks.
You will need to be resident in the UK, with a UK bank account and to be 18 or over. You also need to pass our Anti Money Laundering processes.
From £50,000 on a secured basis with no maximum.
Our loans are usually a minimum of six months to three years but can be adapted to suit your needs.
Yes, subject to a 30 day notice period.
When we discuss your application we will tell you what fees apply. As well as the capital and interest, there is an arrangement fee and administration fees. For secured lending, you will also be required to pay for our valuer to carry out a valuation of the asset. Some of the fees can be added to the loan amount so are not required to be paid upfront.
In order to lend at Stratosphere you must register as a Stratosphere investor, get approved and have funds ready for proposals we will present to you.
You can find more information on the Lenders page.
We apply a number of preliminary checks to any application. These include length of trading and experience (we generally do not lend to start-up projects) and the credit profile of the borrower.
For those applications that have passed our preliminary checks, we gather data both on the company and on the people behind it – the owners and managers of the business.

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