Irish peer-to-peer lender Linked Finance has unveiled a five-year unsecured business loan for the country’s small- and medium sized enterprises (SMEs). The Dublin-based platform said loans of up to €300,000 (£252,000) can be made available within 24 hours with no requirements to provide collateral or arrange for a security. Rates for borrowers on the five-year […]
Growth Street backer Merian Chrysalis has halved the value of its investment in the peer-to-peer lender following two defaults at the platform. An annual results update by the investment company showed it has invested £12.5m of capital in Growth Street in January 2019, made up of £5m in shares and a £7.5m loan note. It […]
Funding Circle UK’s chief financial officer (CFO) Sean Glithero is to step down after almost two-and-a-half years in the role. Glithero joined the peer-to-peer lending platform from Auto Trader in September 2017 but will leave the board, and his role as CFO, later this year. “It has been an enormous privilege to have worked alongside […]
The House Crowd has appointed former FundingSecure director Carl Davies as chief operating officer. Davies (pictured) joined The House Crowd on 2 January and has been tasked with improving processes and systems at the peer-to-peer property development lender, with chief executive and founder Frazer Fearnhead moving into a more strategic role. While it is a […]
Administrator fees could fall under the regulatory spotlight as the cost of managing the books of collapsed P2P lenders continue to spiral, an insolvency practitioner has warned. P2P lender Collateral is approaching two years since it collapsed and is now in liquidation with the fees for its administrator BDO running close to £1m. Similarly, RSM, […]
The Financial Conduct Authority’s (FCA) executive director of strategy and competition Chris Woolard has been promoted to interim chief executive of the City watchdog until the Treasury names a full-time appointment. He replaces Andrew Bailey, who is now governor of the Bank of England. Woolard (pictured) joined the FCA’s predecessor, the Financial Services Authority, in […]
Proplend is predicting transfers into its Innovative Finance ISA (IFISA) will rise in the coming months, as the end of the tax year approaches. The first few months of the calendar year are traditionally known as ISA season when subscriptions into the tax wrapper spike ahead of 5 April. Brian Bartaby (pictured), chief executive of […]
ThinCats has told its customers that it is shutting down its ‘VIP forum’ with immediate effect and will close the accounts of all registered investors who do not hold assets on the platform by the end of the month. Peer2Peer Finance News understands that the ‘VIP forum’ was set up in the early days of […]
Assetz Capital has announced that more than £100m has now been invested through its Innovative Finance ISA (IFISA), making up 23 per cent of all invested funds on the peer-to-peer lending platform. Over 5,000 IFISA accounts have been opened with Assetz since it launched its tax-efficient product in 2017, with an average of more than […]
European investors have raised the alarm on Estonian peer-to-peer platform Envestio, which has seemingly shut down while still holding €33m (£27.87m) of lender funds. Over the past week, worried investors have taken to social media and P2P forums to complain that the company’s website is down, and their withdrawal requests have gone unanswered. It is […]
Funding Circle has maintained its projected return rates following its latest review. The peer-to-peer lending platform reviews the rates it has on offer each quarter by taking into account its assessment process, current returns and loan performance. The platform has held rates at 4.5 per cent to 6.5 per cent for its Balanced product and […]
The Pollen Street Secured Lending investment trust has backtracked on recommendations to increase its quarterly dividend. A December 2019 factsheet released yesterday (22 January) included a recommendation from the investment manager, Pollen Street Capital, to raise the quarterly dividend from 12p to 15p for the final three months of the year. However, the board later […]
A boutique commercial loan brokerage based in the City of London is launching its own peer-to-peer lending platform and an assurance bond service, which will be open to all P2P lenders. Charter HCP – which counts former Lendy head of originations Terry Pritchard as a director – will launch its P2P platform in March, while […]
Crypto-backed peer-to-peer platform ETHLend is no longer in operation, just weeks after parent company Aave launched its new ‘flash loans’ feature. The ETHLend website no longer allows visitors to browse its marketplace or access finance. “To all good things come an end. We are proud to say we have launched Aave. Aave is an easier […]
Former City minister Lord Myners has called for the government to publish aggregate data on the level of exposure the British Business Bank (BBB) has to defaulted peer-to-peer loans. The peer has submitted a written request, the first in this parliamentary session, asking why the default rates on loans the BBB invested in are “commercially […]