Peer-to-peer lenders have questioned the fairness and accuracy of financial product review website Defaqto’s star rating system. A number of P2P lenders have queried why they have been given low ratings when they have had little contact with the website. Defaqto reviews and rates a range of financial products including P2P lenders, to help consumers […]
Peer-to-peer lenders are unconcerned that local lockdown restrictions will create a repeat of the investor and borrower uncertainty that hit the sector when the coronavirus outbreak first hit in March. The government announced local lockdown restrictions in the north west of England on Thursday evening (31 July). The restrictions are mainly around socialising with other […]
Abundance is urging low risk investors to consider the community municipal investments (CMIs) offered on its platforms as an alternative to NS&I products. The crowd bonds platform is arguing that CMIs provide a lower risk investment that can be a better alternative to keeping money in poorly paying cash savings or products with NS&I accounts. […]
Lockdown restrictions have been eased across most of the country and peer-to-peer lenders who suspended activity at the height of the pandemic in March have returned to work in different ways. Some such as RateSetter and Assetz Capital queued withdrawal requests and have been more cautious with lending. But others went further by stopping lending […]
Funding Circle is set to celebrate its 10-year anniversary this August, having initially launched to support the small businesses that were underserved by high street banks following the financial crisis. 10 years on, small businesses are now facing another crisis of mammoth proportions, but Funding Circle is still poised to support them, as UK managing […]
Mintos has hailed a record year for new investors and the number of loans in its 2019 annual results. The European peer-to-peer consumer lender attracted 150 per cent more investors last year, with 136,310 backing loans. In total, it funded €2.8bn (£2.5bn) of loans through its platform, which is more than all its previous years […]
Goldman Sachs Merchant Banking Division (MBD) is reported to be seeking up to $17bn (£13.6bn) for private credit investments for senior debt financings and special situations transactions. According to Reuters, documents from Connecticut’s state pension plan reveal that MBD is targeting $7bn for Broad Street Loan Partners IV and between $5bn and $10bn for West […]
Peer-to-peer investors are ready to increase their portfolios as economies begin to reopen, research claims. A survey conducted by European P2P lending platform Robo.cash found 68 per are ready to increase their P2P portfolios in what it describes as the post-crisis period in the aftermath of the coronavirus crunch. Another 37 per cent of respondents […]
CEX.IO, one of the largest international exchanges on the cryptocurrency market, announces support for a new USDT/GBP trading pair on its exchange platform. As a result and amid rising interest in the stablecoin on the cryptocurrency exchange platform, UK citizens can now use their national fiat currency to purchase USDT conveniently on CEX.IO to benefit […]
European peer-to-peer lenders are to be ordered to create appropriateness assessments for non-sophisticated investors as the prospect of harmonised regulation across the continent moves closer. The European Capital Markets Union (ECMU), part of the European Council, has compiled a crowdfunding directive that now needs to be ratified by the European Parliament. The new rules state […]
Zopa has unveiled a range of exclusive savings rates for existing investors ahead of its banking brand officially opening for business later this year, but how does it compare to the rest of the market? There is little incentive for banks to providing attractive savings rates at the moment. The Bank of England base rate […]
Growth Street is anticipating that five per cent of its remaining loanbook could be in default as it prepares to wind-down its peer-to-peer lending platform. The business lender announced last week that it would enter a “solvent wind-down” once its resolution event – the process of getting its loanbook repaid – is complete. The platform’s […]
The conditions of the coronavirus business interruption loan scheme (CBILS) have been expanded to allow more small- and medium-sized enterprises (SMEs) to access government-backed funding. From today (30 July), businesses which have been classed as having ‘undertakings in difficulty’ will be allowed to apply for CBILS loans of up to £5m. This includes businesses with […]
Peer-to-peer lending platforms have welcomed the regulator’s guidance on vulnerability and said platforms need to ‘wake up’ in order to protect lenders and borrowers. The Financial Conduct Authority (FCA) said that firms should do more to ensure that vulnerable consumers are helped. The City watchdog has issued guidance on allowing all of its regulated firms […]
Millions of shoppers are turning their backs on larger chains in an effort to support local small- and medium-sized enterprises (SMEs) during the coronavirus pandemic, a new Funding Circle survey has revealed. 80 per cent of respondents told the peer-to-peer lending platform that they have chosen to buy from independent businesses rather than larger chain […]