VICTORY Park Capital (VPC) Specialty Lending Investments saw net returns fall by 1.47 per cent during the fourth quarter of 2016, due to its underperforming peer-to-peer loan portfolio. The London-listed fund, which makes P2P and balance sheet investments, posted a net revenue return of 1.67 per cent over the last three months of the year. However, […]
Peer-to-peer lenders have already made headway in consumer and business loans, could they help solve the housing crisis? Housing is a perennial feature of any political manifesto and various governments, lobby groups and charities have tried but regularly failed to tackle the shortage of stock in the UK. The government has even set itself an […]
First they got the FCA approval, then they got ISA manager status. But the IFISA is just part of Landbay’s plans for growth this year, as chief executive John Goodall tells Peer-to-Peer Finance News… Congratulations are in order for Landbay, which gained full approval from the Financial Conduct Authority (FCA) in the week before Christmas […]
A NEW property lender has launched, connecting retail investors with professional real estate developers. Credit Peers, which defines itself as an online “peer to business” lending platform, allows individuals to lend from £500 upwards to fund property deals. Its borrowers are professional property investors and developers who must invest a minimum of 15 per cent […]
MARKETINVOICE and Funding Circle executives are among the industry experts selected for the Treasury-backed fintech delivery panel, which will aim to maintain the UK’s position as a global fintech hub. Anil Stocker (pictured), chief executive of MarketInvoice and Martin Cook, general counsel at Funding Circle, are the only peer-to-peer lending professionals making part of the 24-strong […]
A NEW peer-to-peer platform connecting listed companies with investors has launched, aiming to open up private fundraisings to a larger investor base. I-Dealcorp officially launched in December and its mobile site went live late last month. The online platform connects junior-listed companies, such as those on London’s Aim, with institutional and sophisticated investors. “Private and institutional […]
HIGH-GROWTH businesses are springing up all over the country, but those outside of London are struggling to obtain finance, research has claimed. A report by the Institute for Public Policy Research (IPPR) said that there are 12,000 high-growth enterprises all over the UK – which it defines as companies with more than 10 employees and an employee or turnover growth rate of […]
THE MONEY Platform has hired RateSetter’s first-ever chief risk officer Kevin Allen (pictured) to head up its credit decision processes and grow its borrower base. Allen joined the recently-launched peer-to-peer payday lender on Monday 23 January, after three-and-a-half years at RateSetter. Joshua Graham, co-founder of The Money Platform, told Peer-to-Peer Finance News that Allen is “entirely responsible for […]
PEER-TO-PEER lenders are among the 100 finance providers already signed up to FinancemyBusinessonline, a new platform to help small businesses find funding. The platform, which launched yesterday, was founded by Adam Tyler (pictured), former chief executive of the National Association of Commercial Finance Brokers. Read more: NACFB chief Adam Tyler to step down after 11 […]
RATESETTER has published updated lender terms as it prepares to tweak its provision fund. The new terms have been published on Thursday, one month ahead of the changes to the fund to address concerns that it is too “binary.” Under previous rules, if the provision fund were no longer able to cover expected defaults, all loans […]
INTEREST rates have been held at their record low by the Bank of England, leaving little sign of a boost for savers with money languishing in traditional products. The Bank of England’s monetary policy committee held the base rate at 0.25 per cent on Thursday and separately predicted inflation would hit its two per cent target this year, 2.7 […]
MONEYTHING is focusing on growing its borrower base over the next 12 months as it says it is overfunded. The peer-to-peer business lender, which is headquartered in London but has an office in the Isle of Man, has lent out £38m since its launch in February 2015. It offers investors secured loans with average annual […]
P2P aggregators are a growing trend, offering consumers access to multiple platforms at the click of a button. But is there a real need for this service or is it moving away from the essence of P2P? For savvy consumers, shopping around for the best deal is a key part of the decision-making process. The […]
THE TAX Incentivised Savings Association (TISA) has appointed a former adviser to the government and regulators to support its work on fintech. Andrew Churchill, who has advised politicians, academics and industry on policy such as cybercrime, digital services and identity, will lead the financial services trade body’s work on the digitalisation of UK financial services. TISA’s director-general David […]
PEER-TO-PEER lending platform Flender has hired credit report service Equifax to support the underwriting of its loans. Equifax will supply real-time consumer and commercial data to automate the underwriting process and help Flender better assess applications for loans from small- and medium-sized enterprises (SMEs). It comes after Flender, which lets borrowers share campaigns directly with their […]