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Peer2Peer Finance News | August 19, 2019

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Posts By Marc Shoffman

Lendy investors must undergo new AML checks

August 19, 2019 |

LENDY investors will have to go through anti-money laundering (AML) checks again before they receive any money back.

RSM, which was appointed administrator of the collapsed peer-to-peer lender in May, said it has uncovered “certain deficiencies” in Lendy’s AML procedures.

Read More

Unbolted adds bonus rates to dealer loans

August 16, 2019 |

UNBOLTED investors can now access a bonus rate of interest on loans for dealers of luxury assets.

The peer-to-peer pawnbroker is best-known for providing loans secured on personal assets such as watches or secured business finance, but it has also … Read More

Blend Network calls for more P2P lending education to boost SIPP investment

August 12, 2019 |

A BETTER understanding of peer-to-peer lending risks and regulations could help boost the use of the product within self-invested personal pensions (SIPPs), research claims.

A survey of 1,000 pension investors, by P2P property lender Blend Network, found 25 per cent … Read More

Lendy administrator reveals creditors committee members

August 12, 2019 |

TWO founders of the Lendy Action Group (LAG) have been named on the creditors committee for the collapsed peer-to-peer property lending platform.

Lendy’s administrator, RSM, has appointed five people to the committee to help it oversee its work, including Bruce … Read More

LendInvest secures £200m institutional funding line

August 12, 2019 |

LENDINVEST has secured a £200m funding line from the National Australia Bank (NAB).

The alternative property lender said the institutional funding would help expand its buy-to-let product.

The platform has now raised more than £1.8bn of debt and equity from … Read More

Auditors under scrutiny after investment firm failures

August 6, 2019 |

THE FINANCIAL Conduct Authority and the Treasury Select Committee have been urged to investigate the role of auditors as concerns grow about accounts being signed off for companies that are nearing collapse.

The UK Crowdfunding Association (UKCFA), which represents a … Read More

Rising number of cash ISA providers blocking IFISA transfers

August 2, 2019 |

INVESTORS are being prevented from transferring money from investment ISAs into some cash ISAs, with experts warning that this could result in them taking unwanted risks.

Analysis from Moneyfacts shows that there are 55 fixed-rate cash ISA products, out of … Read More

Platforms may be forced to favour high net worths due to incoming 10pc rule

August 1, 2019 |

RETAIL investors are at risk of being shut out of the peer-to-peer lending sector due to the so-called 10 per cent rule that will come into force this December.

The rule change is part of investor marketing restrictions introduced by … Read More

Honeycomb Investment Trust premium under threat from Woodford sell-off

July 26, 2019 |

HONEYCOMB Investment Trust’s premium could be under threat due to pressure on one of its biggest shareholders, Neil Woodford, to sell off assets.

The former star fund manager dramatically suspended trading in his Equity Income Fund last month, following a … Read More

ThinCats: Alternative lenders are more ‘revolutionary’ than challenger banks

July 26, 2019 |

CHALLENGER banks are not necessarily a panacea for small- and medium-sized enterprise (SME) lending, ThinCats has warned.

The peer-to-peer business lender said that challenger banks may be held up as an innovative alternative to high street banks, but are still … Read More