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Peer2Peer Finance News | May 24, 2018

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Welendus named among top 100 UK startups

May 22, 2018 |

WELENDUS has been named as the only peer-to-peer platform on a list of the top 100 Startups.

The Startups 100, compiled by small business websites Startups.co.uk, ranks the “most awe-inspiring and fast growth potential” businesses that have launched in the … Read More

High Court approves BDO as new Collateral administrator

May 8, 2018 |

BDO has been named as the new administrator of collapsed peer-to-peer lender Collateral after a High Court approved the City regulator’s request to change practitioner.

The Financial Conduct Authority (FCA) issued proceedings in the High Court last month as it said … Read More

Borrowers unaware of how to check loan providers as scams increase

April 25, 2018 |

A THIRD of personal loan applicants have admitted they weren’t confident about how to check if their provider was legitimate, the Financial Conduct Authority (FCA) has revealed.

Research by the City watchdog found 36 per cent of those who took … Read More

Is P2P lending here to stay or is it just a wolf in sheep’s clothing?

April 24, 2018 |

Nicola Horlick, chief executive of Money&Co and Lauren Lee, managing associate on the finance litigation team at law firm Addleshaw Goddard, assess the future of peer-to-peer lending

Prior to the economic crash in 2008, the vast majority (estimated at 91 … Read More

FCA issues warning about Funding Circle clone

April 11, 2018 |

THE CITY watchdog has issued a warning to consumers about a clone of peer-to-peer lender Funding Circle.

The clone, Funding Circle Loans, had set up a website purporting to be the P2P platform.

Its website, http://fundingcircle.bravesites.com, has since been suspended.

Read … Read More

FCA reveals it intervened in Collateral administration to protect investors

April 4, 2018 |

THE FINANCIAL Conduct Authority (FCA) has revealed that it intervened in the administration of Collateral because the peer-to-peer lender failed to seek its approval when it appointed an insolvency practitioner.

Wigan-based Refresh Recovery was selected by Collateral when the company … Read More

ISA countdown: The latest IFISAs on the market

April 4, 2018 |

AS THE countdown to the deadline for using this year’s tax-free investment allowance has ticked away, new Innovative Finance ISAs (IFISA) have continued to launch on the market.

March saw the introduction of tax wrappers from peer-to-peer property platforms The … Read More

Collateral administration stalls as FCA seeks to appoint own administrator

April 3, 2018 |

THE ADMINISTRATION of peer-to-peer lender Collateral has been held up after the Financial Conduct Authority (FCA) intervened in an attempt to appoint its own practitioner.

A progress report, seen by Peer2Peer Finance News, shows Refresh Recovery – which was appointed … Read More

Welendus goes live with interest-free loan offer

March 20, 2018 |

PEER-TO-PEER payday lender Welendus has launched its first product, offering borrowers an interest-free loan if the debt is repaid in one day.

Individuals can borrow up to £500 using the new facility, which is aimed at those faced with unexpected … Read More

Chancellor to announce new UK government fintech strategy

March 19, 2018 |

CHANCELLOR Philip Hammond is expected this week to unveil two large scale projects to boost Britain’s fintech sector, with blockchain technology and international cooperation high on the agenda.

Hammond (pictured), will launch a new fintech strategy at an international conference … Read More