ASSETZ Capital has announced that it has recorded a “seven-figure pre-tax profit” in its latest half-year results. The secured business and property peer-to-peer lender said on Tuesday that it remained in the black in the six months to September 2017, in-keeping with the profitability recorded for the entire 2016/17 financial year. From April to September 2017, more […]
THE UK’S oldest peer-to-peer lender is getting set to withdraw its provision fund but there are still platforms that investors can choose if they feel more comfortable with a safety net in place. Zopa has announced it will wind down its Safeguard fund from December, which will result in higher returns. The move means that […]
A FINTECH platform that helps business owners value their enterprise and access funding opportunities is in talks with peer-to-peer lenders to bring them on board. Pomanda, which provides valuation tools, local market intelligence and information on access to funding, has told Peer2Peer Finance News that it is in discussions with a number of P2P platforms […]
RATESETTER has said that a forecast interest rate rise on Thursday would have limited positive effects on savers and moved to reassure investors that its business model would thrive in a higher interest rate environment. The ‘big three’ peer-to-peer lender said that an increase to the base rate from its historic low of 0.25 per […]
NEARLY seven in every 10 British millennials are now managing their money on the go, by using their mobile phone. That’s according to the latest digital payments study from Visa, which surveyed thousands of people on their attitudes towards alternative forms of payment and money management. Around 69 per cent of millennials – those aged […]
THE BANK of mum and dad may be renowned for funding mortgage deposits, but now it is running savings and investment portfolios for its children as well. Research by Investec’s online investment platform Click & Invest found only 52 per cent of parents believe it is important for family members to make their own way […]
THE AMOUNT of investor money covered by Zopa’s provision fund has fallen from almost half to just a quarter in less than six months. The peer-to-peer lender announced in May that it would be winding down its Safeguard fund to allow investors to access higher returns. At the time the platform said 46 per cent […]
ASSET and wealth managers will need to seek investment opportunities in niche areas such as peer-to-peer lending if they are to prosper, PwC has claimed. In a new report, titled ‘Asset & Wealth Management Revolution: Embracing Exponential Change’, the accountancy firm noted that the industry has remained fundamentally the same since the 1990s, but warned […]
NEW figures from the Bank of England have revealed that consumer lending rose 9.9 per cent in September compared to the same month last year. Data from the central bank, released on Monday, showed that net consumer credit increased by £1.6bn last month, above the average monthly increase of £1.5bn over the past six months. […]
P2P GLOBAL Investments (P2PGI) has been given a new buy recommendation from broker Numis thanks to the latest securitisation of Zopa loans in its portfolio. Numis said it has put P2PGI on its buy list again, after its share price fell 10 per cent in the third quarter of 2017. The investment trust is currently […]
AN INTEREST rate hike could leave over-leveraged households short of money, S&P Global Ratings has warned. A report by the credit ratings and research agency found consumer lending across the world’s developed countries reached $29.6trn (£22.6trn) at the end of the first quarter of 2017, about $2trn greater than around the start of the financial […]
LENDINGCROWD has been ranked as an alternative to Funding Circle for investors looking to continue with manual lending, as they both offer similar interest rates and borrower profiles. Peer-to-peer analyst Orca said that before Funding Circle shifted to manual lending last month, 27 per cent of investors used the manual option, suggesting there is demand […]
LANDLORDINVEST is expecting its Innovative Finance ISA (IFISA) intake to double this tax year. The property peer-to-peer platform, which launched its IFISA in January, said it attracted £419,385 in the previous tax year and was hoping to see that double to nearer £1m. Filip Karadaghi, chief executive of LandlordInvest, said he expects the entry of […]
THE PEER-TO-PEER Finance Association (P2PFA) has announced that insolvency practitioner Quantuma has joined as an associate member. Quantuma, a corporate recovery and business advisory firm, already works with peer-to-peer lending platforms to help manage borrower defaults and improve collection and recovery rates, as well as advising on risk and default processes. “We welcome the opportunity to […]
TWO THIRDS of business leaders say they lack government support, a new survey claims. The latest enterprise index research by accountancy firm Smith & Williamson questioned nearly 200 business leaders and entrepreneurs about the political climate for small- and medium-sized enterprises (SMEs). 74 per cent of respondents said that political uncertainty is negatively impacting their […]