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Peer2Peer Finance News | December 19, 2018

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Bank of England

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

Bank of England sounds £31bn risky loans warning

October 9, 2018 |

THE BANK of England has sounded a warning about £31bn in loans that have been made to companies with high levels of debt this year.

The Bank’s Financial Policy Committee (FPC) says it is concerned about this growth in lending to … Read More

Bank of England: Fintech ‘boosting UK’s financial resilience’

October 1, 2018 |

THE EMERGENCE of alternative finance and the growth of fintech have boosted the UK financial system’s resilience, according to the Bank of England’s deputy governor for markets and banking.

Speaking at the Society of Professional Economists’ annual conference on Friday, … Read More

New mortgage lending at a 10-year high as BTL slowdown continues

September 11, 2018 |

NEW mortgage lending reached its highest level since 2008 in the second quarter, statistics from the Bank of England reveal.

New commitments increased by 19.8 per cent from the first quarter to £72.2bn, while total gross advances increased by 6.4 … Read More