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Peer2Peer Finance News | May 27, 2019

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Posts By Kathryn Gaw

LendingCrowd inks £18.75m funding deal with Scottish and Dutch investment banks

May 21, 2019 |

SCOTTISH lender LendingCrowd has announced a new funding deal worth £18.75m with the government-backed Scottish Investment Bank (SIB) and Dutch entrepreneurial bank NIBC.

The institutional funds will be lent via the peer-to-peer platform to UK small- and medium-sized enterprises (SMEs).

Read More

City watchdog rejects Mintos application

May 13, 2019 |

LATVIA-HEADQUARTERED peer-to-peer lender Mintos has been refused regulatory approval in the UK, three years after its initial application.

The Financial Conduct Authority (FCA) said that it was not satisfied that the platform had the appropriate resources to implement its proposed … Read More

Neil Woodford: It’s not us, it’s you

May 8, 2019 |

FALLEN STAR fund manager Neil Woodford has given up his stake in VPC Specialty Lending and P2P Global Investments – but it has nothing to do with the health of UK P2P

WHEN peer-to-peer lending first entered the alternative finance … Read More

Elfin Market to launch IFISA “within weeks”

May 3, 2019 |

NEW peer-to-peer consumer lender Elfin Market will begin offering an Innovative Finance ISA (IFISA) account “within weeks,” Peer2Peer Finance News has learned.

Elfin Market recently received ISA manager authorisation from HMRC and is now in the process of rolling out … Read More

VPC Specialty Lending’s NAV hits six-month high

May 3, 2019 |

VICTORY Park Capital Specialty Lending (VPC) reported its highest net asset value (NAV) return in six months, thanks to the improved performance of its balance sheet investments.

The alternative finance-focused investment trust reported a net revenue return of 0.73 per … Read More

Woodford offloads stakes in P2PGI and VPC

May 1, 2019 |

FUND MANAGER Neil Woodford has fully divested from peer-to-peer investment trusts P2P Global Investments (P2PGI) and VPC Specialty Lending (VPC).

Woodford’s investment management firm had previously held a 13 per cent stake in P2PGI and a 16.6 per cent share … Read More

Rise in personal insolvencies leads to calls for more oversight

April 30, 2019 |

A CONTINUED rise in personal insolvencies has led to calls for more stringent regulation of consumer debt.

New figures from the Office for National Statistics (ONS) have revealed that in the first quarter of 2019, the number of personal insolvencies … Read More

£1bn debt fund launched for UK non-bank lenders

April 30, 2019 |

EUROPEAN Risk Capital (ERG) has launched a £1bn multi-client debt programme for UK-based, mid-market non-bank lenders.

The programme – titled ‘CreditStream’ – has a minimum deal target size of £10m, making it primarily suited to mid-sized lenders including bridging and … Read More

RateSetter given Queen’s Award for Enterprise

April 23, 2019 |

RATESETTER has been given the Queen’s Award for Enterprise in recognition of its “excellence in innovation”.

The peer-to-peer lender will join the other recipients of the Queen’s Award at a reception in Buckingham Palace later this year. It will also … Read More

Defaults rise “significantly” on unsecured loans in first quarter of 2019

April 18, 2019 |

DEFAULT rates on unsecured loans increased “significantly” in the first quarter of 2019, according to the latest Bank of England credit conditions survey.

The rising default rate was largely driven by missed credit card payments among consumers and businesses.

Lenders … Read More