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Peer2Peer Finance News | April 23, 2019

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Bank of England

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

P2P to have strong presence at Innovate Finance Global Summit

March 27, 2019 |

FOUNDERS of the ‘big three’ peer-to-peer lenders are among the confirmed speakers at Innovate Finance Global Summit (IFGS), which takes place next month at London’s Guildhall.

Giles Andrews of Zopa, Samir Desai of Funding Circle and Rhydian Lewis of RateSetter … Read More

Brexit blamed for slowdown in consumer lending

January 30, 2019 |

UNSECURED consumer lending has slowed to its lowest level since 2014, as Brits scale back their spending amid Brexit uncertainty.

The latest Bank of England Money and Credit statistics also found that the total number of mortgage approvals fell from … Read More

Consumer credit cools while mortgage approvals hit 9-month high

November 29, 2018 |

GROWTH in consumer credit slowed in October, while mortgage approvals hit a nine-month high, according to new Bank of England data.

The net amount of new consumer borrowing, excluding mortgages, came in at £0.9bn in October. This equated to a … Read More

Crypto-P2P platforms face tighter anti-money laundering rules

October 30, 2018 |

CRYPTO-BACKED peer-to-peer lending platforms could face more stringent anti-money laundering (AML) regulations, as the government mulls transferring compliance oversight to the City watchdog.

The government’s cryptoassets taskforce, which consists of the Treasury, the Financial Conduct Authority (FCA) and the Bank … Read More

Consumer credit growth hits three-year low

October 29, 2018 |

GROWTH in consumer credit has slowed to its lowest level in more than three years.

Bank of England data, released on Monday, showed that personal borrowing via loans and credit cards was up 7.7 per cent on an annualised basis … Read More

Bank of England launches fintech competition

October 22, 2018 |

THE BANK of England has launched a competition to explore ways to use financial technology to improve people’s lives.

The exact details of the challenge will be revealed on 12 November but the Bank said the competition is aimed at students, … Read More

Lower inflation could boost P2P investments

October 17, 2018 |

THE SURPRISE fall in the UK’s pace of inflation during September could boost investments through peer-to-peer platforms, according to lenders.

The annual rise in the consumer price index fell to 2.4 per cent from 2.7 per cent during the previous … Read More

Abundance launches tidal power project amid calls for more green finance

October 16, 2018 |

ABUNDANCE has launched a campaign to fund the world’s most powerful floating tidal turbine platform, one day after financial regulators called for more industry action to fight climate change.

The ethical P2P lender is offering a 30-month secured debenture in Orbital … Read More

Lenders report boom in demand for unsecured credit

October 11, 2018 |

LENDERS have reported a boom in demand for unsecured credit from households but have warned supply is dwindling due to tightening criteria.

The Bank of England’s third quarter credit conditions survey asked lenders about their opinion on credit conditions and … Read More