FOLK2FOLK is planning on lowering its £25,000 minimum investment threshold once it can offer the Innovative Finance ISAs (IFISAs), Peer-to-Peer Finance News has learnt. The peer-to-peer business lender, like many of its rivals, is still awaiting full authorisation from the Financial Conduct Authority so that it can apply to HMRC for ISA manager status. Then […]
ZOPA is planning to securitise more of its loans after its first issuance was oversubscribed, the peer-to-peer lender’s head of capital markets has said. “The deal was oversubscribed and there seemed to be a strong market appetite,” Jonathan Kramer told Peer-to-Peer Finance News on the sidelines of the LendIt conference in London. “It was a […]
THE GLOBAL peer-to-peer lending market grew by a whopping 271 per cent to more than $130bn (£106.4bn) last year, according to new research. The market was valued at $35bn in 2014, according to the joint study by accountancy firm KPMG and the Cambridge Centre for Alternative Finance. The whole alternative finance market – including equity-based […]
SALARIES in the finance and technology sectors are set to soar next year, as the rise of fintech and a growing focus on digitisation create a “war” for talent. According to the Robert Half 2017 Salary Guide, starting salaries for professional roles have risen by an average of 3.68 per cent over the past three years and are […]
CONSUMERS are more likely to take financial advice from a member of their family than from professional advisers, RateSetter has found. While almost half of people across the UK have never asked anyone for financial advice, 38 per cent have gone to family members for suggestions on how to invest their money and only 25 per […]
LENDINGWELL has been announced the winner of PitchIt @ LendIt, as the conference hosts announce a new global partnership with Hong Kong’s AMTD Group. UK peer-to-peer lending aggregator platform LendingWell beat off strong competition to win the top price at the inaugural PitchIt competition, which aims to find the future star of the fintech space. […]
FOLK2FOLK, the peer-to-peer business lender, has announced it will be opening a new branch in Gloucestershire on 1 November, as part of its national expansion plans. The Cornwall-headquartered business, which has a £25,000 minimum investment threshold, said on Monday that it had chosen Tewkesbury in Gloucestershire for the new branch as it had established that […]
MOST millennials can’t afford to save or invest due to the high cost of living and one fifth believe they will never be debt free. However, the older generation continues to save. According to a new survey from Investec Wealth & Investment, 37 per cent of people under 35 would rather spend now than save […]
GLI Finance’s chief executive thinks that the UK’s peer-to-peer finance industry could be heading towards a “car crash” of escalating default rates. Andrew Whelan, who heads up the alternative finance-focused investment firm, said on Monday that the current low level of defaulting loans “is the one thing that worries me at the moment”. “The platforms’ […]
THE PEER-TO-PEER finance industry’s arduous wait for full Financial Conduct Authority approval could be ending soon, the regulator hinted on Monday. Some of the biggest P2P platforms, which have interim permission from the City watchdog, have been awaiting full approval for more than a year. If approved, they can apply to HMRC for their ISA […]
THE GOVERNMENT is setting up a new financial advice body to help consumers make decisions on their debt, money and pensions. The organisation – which does not yet have a name or a launch date – will replace the Money Advice Service (MAS) as well as the Pensions Advisory Service (TPAS) and Pension Wise, combining all three […]
PEER-TO-PEER lending platforms are resilient enough to withstand a financial downturn, according to a major economic study into the sector. The new report, which was released on Sunday evening, was commissioned by the Peer-to-Peer Finance Association (P2PFA) and carried out by economic consulting firm Oxera. It said that P2P does not create systemic risk and […]
THE UK’S three biggest peer-to-peer platforms reached record-breaking milestones in September, as investors and borrowers flock to the sector in search of a better deal. Peer-to-Peer Finance News has learned that Zopa funded £67.8m in loans throughout the month, breaking its own previous record by more than £10m. Meanwhile, Funding Circle has announced that its […]
CHINA’s outstanding peer-to-peer loans reached a record high at the end of September, drawing the attention of would-be P2P clients across the world. But a similar situation “should never happen” in the UK, one adviser has told Peer-to-Peer Finance News. “The Chinese market was unregulated,” said Jay Tikam, managing director of fintech advisory firm Vedanvi. […]
LENDINVEST has unveiled a whopping 133 per cent rise in full-year revenue to £32m and profits of £3.4m, shrugging off fears that Brexit-induced uncertainty would detract investors from the sector. The peer-to-peer property lending platform, which also has its own investment funds, said on Friday that it had seen an 84 per cent increase in total […]