RateSetter Australia is considering an initial public offering (IPO) this year, with an estimated valuation of AUS$300m (£157.6m). The peer-to-peer lender, which is minority-owned by the eponymous ‘big three’ UK P2P firm, sent a request for proposal to several investment banks and brokers last year. It is believed to have hired Highbury Partnership as an […]
The UK economy is missing out on a vital boost with small- and medium-sized enterprises (SMEs) stockpiling £86bn of ‘dormant cash,’ research claims. Analysis by the Centre for Economic and Business Research (CEBR) on behalf of Shawbrook Bank found that SMEs are holding an average of 57 per cent of their total capital in current […]
Almost two thirds, 61 per cent, of property investors don’t expect the government to meet its target of building one million new homes by 2025. However, they largely back the new government’s proposed reforms to the property market. According to a new survey from London-based property introducers FJP Investment, 70 per cent of property investors […]
A social enterprise peer-to-peer lending platform launched by the founder of ThinCats has had to close due to the platform exiting the retail market. Thincats was launched in 2011 by Kevin Caley (pictured) before ESF Capital took a controlling stake in 2015. Caley started Community Chest in 2016 to fund social investment ventures through the […]
Former Irish rugby international Jamie Heaslip has joined Dublin-based peer-to-peer lender Flender as head of brand marketing, as the company aims to reach its €100m (£85.3m) lending milestone in 2020. Heaslip was captain of both the Leinster and Ireland rugby teams before he retired from the sport in 2017. He was one of the earliest […]
Small- and medium-sized businesses made four per cent fewer loan applications in the third quarter of last year and even lower figures are predicted for the fourth quarter, as investment activity remains “subdued”. According to UK Finance’s most recent Business Finance Review, more than 40,000 businesses have turned to invoice finance products over the past […]
Securitisations backed by loans originated under alternative lending models (ALMs) face heightened risks for investors, Moody’s has warned. Analysis by the credit ratings agency warned there can be a misalignment of interests between various transaction parties. Unlike in mainstream financial services, Moody’s warns, alternative lenders often have different people funding, assessing and underwriting a loan. […]
Landbay has partnered with the Financial Intermediary & Broker Association (FIBA) to provide brokers and their landlord clients with access to its specialist lending products. FIBA brokers will be able to access the alternative buy-to-let lending platform’s intermediary portal, which includes case tracking features and a property portfolio key. Read more: Landbay secures £1bn institutional funding […]
More than one million customers have made use of Open Banking technology in the two years since the tool came into effect. Open Banking was introduced in 2018 to allow bank accounts to be connected with trusted third parties. It can be used by peer-to-peer lenders to more easily assess borrower applications by accessing their […]
Peer2Peer Finance News was delighted to host the P2P Lending Zone at this year’s VCT & EIS Investor Forum, where an array of expert panelists enlightened the audience about the benefits of the P2P industry WHY ARE SOME financial advisers wary about recommending peer-to-peer lending? That is a question that many in the P2P industry […]
ShareIn, the investment platform software provider, has gained Shojin Property Partners as a new client. Peer-to-peer property lender Shojin’s move to ShareIn and re-launch of its website in December 2019 marks a consolidation of its previous various software providers into a single, unifying supplier, ShareIn said. Shojin is now using ShareIn’s direct investment technology, its […]
Funding Circle is getting set for the securitisation of a second portfolio of US loans. This will be the peer-to-peer business lender’s seventh securitisation of loans across all its markets. Ratings agency Moody’s has prepared a pre-sale report for the package, called the Small Business Lending Trust 2020-A. It will comprise 1,930 loans originated through […]
LendInvest has made changes to its lending criteria to facilitate larger loans and different types of projects. The specialist mortgage lender said that landlords can now borrow up to £2m at 70 per cent loan-to-value for standard properties and houses in multiple occupation (HMOs). The limit has been raised to £3m for larger HMOs and […]
Investor marketing restrictions have become a requirement for the peer-to-peer lending sector but new customers will have different experiences depending on which platform they choose. Under the new Financial Conduct Authority (FCA) regulations, which came into effect on 9 December, all new investors must complete an appropriateness test to ensure they understand the risks of […]
ZOPA’S winding-down safeguard fund is now covering just £75m of loans, as the peer-to-peer lender warns that provision funds create a “false sense of security”. Zopa closed its safeguard fund to new loans in December 2017 and said while there is just £1m to cover the old portion of its loanbook, it is still funded […]