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Peer2Peer Finance News | November 17, 2017

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British Bankers’ Association

Customer use of banking apps soared in 2016

June 29, 2017 |

PEER-TO-PEER lenders that have not developed a mobile app might be missing a trick, as new research shows that banking app transactions soared by 57 per cent last year.

A report released on Thursday by the British Bankers’ Association (BBA) … Read More

The great British credit boom: Bank lending soars in January

February 24, 2017 |

BANKS lent more to consumers and businesses in January and mortgage approvals hit a 12-month high, as historically low interest rates continue to fuel the credit boom.

Figures from the British Bankers Association (BBA) showed that total consumer borrowing … Read More

Businesses borrow less from banks due to Brexit fears

January 26, 2017 |

HIGH STREET banks lent less to businesses in December due to decreased demand, which economists attributed to Brexit-linked uncertainty dampening firms’ investment plans.

The latest figures from the British Bankers’ Association showed that while overall borrowing rose during the … Read More

UK consumer credit growth hits 11-year high

January 4, 2017 |

UK CONSUMER credit grew at its fastest rate in 11 years in November, but bank lending to businesses fell.

Data released by the Bank of England on Wednesday showed that unsecured consumer borrowing amounted to £1.9bn in November, its … Read More

BBA would welcome Zopa bank as a member

December 15, 2016 |

ZOPA could become a member of the British Bankers’ Association (BBA) once it receives its licence, the trade body for the country’s banking sector has said.

Last month, the UK’s largest and oldest peer-to-peer lending platform announced that it is … Read More

P2P shrugs off Brexit woes as Assetz becomes latest lender to break record

November 4, 2016 |

THE PEER-TO-PEER finance industry continues to shrug off Brexit concerns and hit new milestones in growth, as Assetz Capital becomes the latest lender to have a record-breaking month.

The Stockport-headquartered platform, which predominantly focuses on property lending, originated £26m of … Read More

Opportunity for P2P as banks tighten business lending

October 26, 2016 |

HIGH street banks lent £312m less to UK businesses in September, indicating new opportunities for the alternative lending sector.

Business lending by conventional banks saw its biggest slump since June, according to figures released on Wednesday by the British Bankers’ … Read More