Millennial investors have funded three quarters of Mintos’ loans, in a sign that younger investors are set to dominate alternative investing in loans. New data from the European alternative finance platform showed that more than 75 per cent of the platform’s 356,222 lenders were born between 1981 and 1996. Further analysis found that the majority […]
Retail investors can enjoy great returns from peer-to-peer lending, as long as they choose the right platform, as Kuflink explains… Small investors and their advisers, looking for alternatives to the poor returns available from traditional savings sources, are increasingly disillusioned with finding any form of vehicle that provides more than the lamentable offerings on display […]
Almost £1bn has been earmarked for 971 companies via the future fund, the British Business Bank (BBB) has revealed. £975.5m worth of convertible loans have been approved to date, across a diverse range of firms. The BBB reported that 39 per cent of funding has gone to companies outside of London. However, London-based companies have […]
The Financial Conduct Authority (FCA) has revealed the nine lessons that it has learned from the collapse of mini-bond provider London Capital & Finance (LCF) last year. Responding to an independent review of the regulation of LCF by Dame Elizabeth Gloster, the FCA said that it has accepted the recommendations directed solely at the regulator. […]
The Financial Conduct Authority (FCA) has apologised to investors in London Capital & Finance (LCF) after an independent review found that the regulator did not effectively supervise and regulate the minibond provider. Charles Randell, chair of the FCA, said he was “profoundly sorry for the mistakes we have made” and promised to implement a number […]
Chancellor Rishi Sunak is expected to announce a new extension of the three main government-backed coronavirus loan schemes. According to reporting by the Financial Times, Sunak is preparing to extend the application deadline for the coronavirus business interruption loan scheme (CBILS), coronavirus large business interruption loan scheme (CLBILS) and the bounce back loan scheme (BBLS) […]
RateSetter will close off its one-year market on 15 January 2021, following the sale of the peer-to-peer lending platform’s development finance loans to Shawbrook Bank. The one-year market was used primarily to fund property development loans. Its closure will mark RateSetter’s official exit from the development finance space. In a blog post on its website, […]
Two out of five investors in Europe have put at least €20,000 (£18,000) into peer-to-peer lending, while seven per cent have invested more than €100,000 in the P2P sector, a new survey has found. 12 per cent of investors said that they have P2P investments worth between €50,000 and €100,000, while 21 per cent have […]
Shawbrook Bank has acquired RateSetter’s £167m development finance portfolio for an undisclosed amount, in a deal that will also see the peer-to-peer lending platform’s development finance team move to the challenger bank. The acquisition will add more than 100 new active clients to Shawbrook’s existing development finance business, as well as increasing the bank’s capacity […]
More than half of the population got into debt this year, with one in four stating that their debt was a direct result of the Covid-19 pandemic. Meanwhile, one in ten people said that their new debt was directly caused by being put on furlough with a reduced income. According to money.co.uk’s newly-created Coronavirus Debt […]
ThinCats has revealed that it became profitable in the fourth quarter of this year, after its losses widened in 2019. The alternative business lender’s latest annual results, which are set to be filed with Companies House this week, reported a loss of £9.385m in 2019 – up from a £8.177m loss in 2018. However, the […]
LendingClub has revealed that investor returns are recovering to pre-Covid levels, as the platform said that it is “cautiously optimistic” about 2021. However, the US-based peer-to-peer lending platform has warned that until a nationwide vaccine programme is rolled out in the US, economic recovery will remain slow. In a blog on its website, LendingClub said […]
P2P Investing Summit 2021 Date: 28 January 2021 Venue: Online The P2P Investing Summit – how to generate income in the current climate This is an exclusive event for IFAs, Wealth Managers and Investors. Click here to send us an email and we will send you a ticket. We are working with AngelNews to bring […]
Investors do not have to wait for a government bond to go green with their money, thanks to a raft of alternative finance opportunities supporting renewable energy projects. Chancellor Rishi Sunak unveiled plans last month to issue the UK’s first ever sovereign green bond to help the UK meet its 2050 net zero target and […]
The Financial Conduct Authority (FCA) has temporarily lifted a ban on trading for cryptoasset firms before new regulations will force the closure of unregulated firms. The newly-established temporary registration regime allows cryptoasset firms to resume trading until 10 January 2021, or face enforcement action. However, firms which have not submitted an application to the FCA by […]