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Peer2Peer Finance News | April 25, 2019

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FCA register confirms restrictions on Lendy’s activities

April 24, 2019 |

RUMOURS of restrictions on Lendy’s regulated activities have been confirmed by the Financial Conduct Authority (FCA).

An update to the City watchdog’s financial services register shows that it has imposed an asset restriction on the peer-to-peer property lending platform.

The … Read More

Nationwide selects winners of Open Banking for Good challenge

April 24, 2019 |

NATIONWIDE has selected seven fintechs to take part in its Open Banking for Good challenge, to develop apps for financially vulnerable people.

Openwrks, Ducit.ai, Trezeo, Flow, Toucan, Squad and Tully were chosen from more than 50 applicants, Nationwide said.

The … Read More

Consumer P2P loans weigh on P2PGI fund returns

April 24, 2019 |

P2P Global Investments (P2PGI) has warned that its legacy peer-to-peer lending portfolio continues to be more volatile than expected despite posting an improved net asset value (NAV) return for 2018.

P2PGI – the world’s first P2P-focused investment trust – revealed … Read More

Funding Circle lowers return projections

April 24, 2019 |

FUNDING Circle has revised down its annual return projections in the face of a weaker environment for consumer credit.

The peer-to-peer business lender now predicts investors in its Balanced portfolio will achieve a return of 4.5 to 6.5 per cent … Read More

LendingClub to refer small businesses to Funding Circle

April 23, 2019 |

LENDINGCLUB is planning to stop lending to small businesses and will instead refer prospective borrowers to Funding Circle US and Opportunity Fund.

The US peer-to-peer lending giant, whose core business is personal finance, said it provided loans to a “small … Read More

P2P lenders set to pay higher fees to City watchdog

April 23, 2019 |

PEER-TO-PEER lenders could see their regulatory fees increase by at least two per cent.

The Financial Conduct Authority (FCA) has released a consultation on its annual funding requirement for 2019/2020, revealing that it will need £558.5m from all regulated firms.

Read More

Growth Street sees lack of alternative finance awareness in Wales

April 23, 2019 |

GROWTH Street has warned that Welsh small- and medium-sized enterprises (SMEs) are limiting their finance options.

A poll by the peer-to-peer business lender has revealed that only 27 per cent of Welsh businesses have considered a source of business finance other … Read More

Buy-to-let landlords ‘should have sold three years ago’ as returns drop

April 23, 2019 |

BUY-TO-LET landlords have seen their returns decline in recent years and would fare better from investing in listed corporate landlords instead, new research has found.

A new index from direct lending investment manager BondMason has recorded the performance of residential property … 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