COLLATERAL is launching an app that it says will set it apart from other peer-to-peer lenders and help it compete better with banks. The peer-to-peer pawnbroker, which offers investors annual returns of up to 12 per cent, said that it will begin the beta testing phase in the coming weeks and will fully launch the […]
TWITTER is often a go-to source to build a crowd and communicate directly with consumers but does a big following necessarily mean more business? Of the Peer-to-Peer Finance Association (P2PFA) members, Funding Circle’s UK Twitter account has the largest number of followers at 33,400. The business P2P platform joined Twitter in February 2010, before it launched […]
SMALL- and medium-sized enterprises (SMEs) across the UK are suffering from credit constraints because of local councils’ long repayment timeframes, claims new research. The country’s slowest-paying local councils such as Peterborough and Richmond took on average 36 to 38 days to pay their suppliers last year, the Asset Based Finance Association (ABFA) warned on Monday. While […]
Atuksha Poonwassie, co-founder of property crowdfunding and peer-to-peer lending platform Simple Backing and director of the UK Crowdfunding Association, delves into the potential and pitfalls of the Innovative Finance ISA First of all, it should be noted that the introduction of Innovative Finance ISAs (IFISAs) into the marketplace is a huge endorsement of the peer-to-peer […]
Peer-to-peer property lenders have experienced stellar growth in recent years, but will tax and regulatory changes stop the sector in its tracks? Property lending makes up a significant part of the peer-to-peer finance sector, whether it be buy-to-let mortgages, bridging or property development funding. But tougher regulations, extra charges and predictions of a slowdown in property […]
PEER-TO-PEER investments have long been known for their superior returns to the mainstream markets but investors may have to settle for less with an Innovative Finance ISA (IFISA) in future tax years. Among the platforms that have already launched an IFISA, most charge rates similar to their mainstream products at the moment, but P2P property lender […]
ASSETZ Capital hit its fourth anniversary with £240m lent to date and a plan to double that figure over the next 12 months. The peer-to-peer lending platform, which channels funds to small- and medium-sized enterprises (SMEs) and small property developers, confirmed on Friday that it has returned over £20m of interest to investors since inception, yielding rates […]
MARKETINVOICE is launching a new commission structure for accountants, financial advisors and commercial finance brokers, stepping up its distribution efforts to hit the £2bn lending mark by the end of the year. The peer-to-peer invoice finance platform announced on Thursday it will offer distribution partners a 40 per cent share of the subscription fees it […]
GROWTH Street has attracted 600 investors in the five months since it started accepting retail money, the firm announced on Thursday. The alternative finance platform, which channels funds to small- and medium-sized enterprises, expanded its remit to individual lenders in December last year, after receiving regulatory permission. Since then, it has also been branded as […]
OCTOPUS Choice is set to have raised £50m within its first year of operation. The peer-to-peer platform, spun out of institutional investor Octopus Investments, began a pilot with retail investors at the end of April last year providing loans secured on residential property before an official launch at the end of September. A spokesman said Octopus […]
UPBEAT mortgage lending figures published on Thursday do not necessarily mean the UK housing market is off the hook, Landbay’s chief executive has warned. The Council of Mortgage Lenders reported a 19.4 per cent increase in mortgage origination in March, partly soothing fears that UK consumers’ purchasing power is being eroded by mounting inflationary pressures. “Mortgage lending held […]
MONEYTHING is in no rush to launch its Innovative Finance ISA (IFISA), as it is focusing on building its borrower base this year. The peer-to-peer lender gained Financial Conduct Authority (FCA) approval in March after a gruelling 18-month application process. If it wishes to offer the tax-free wrapper, it needs IFISA manager status from HMRC, […]
Former pharmaceuticals professional Phil Sloan (pictured), based in the Peak District, invests in over a dozen peer-to-peer lending platforms. He talks to Peer-to-Peer Finance News about when, how and why he become an enthusiastic advocate of the sector… Phil Sloan’s first foray into the world of investing was not his most successful. He put money […]
UK SMALL businesses’ funding appetite surged after the Spring Budget, the National Association of Commercial Finance Brokers (NACFB) said, as they rushed to shield their growth plans against rising business costs. The average value of funding enquiries via the NACFB’s “findSMEfinance” platform increased by more than £5,000 to over £85,700 in the four weeks after Chancellor […]
PEER-TO-PEER investor BondMason has unveiled changes to its minimum investment and charges after its previous format was “proving uneconomic”. BondMason, which targets an eight per cent gross return for investors by placing funds across various P2P platforms on their behalf, has raised the minimum investment from £1,000 to £5,000 for new investors, while the change […]