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Peer2Peer Finance News | August 19, 2019

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RateSetter to introduce stress testing to provision fund

August 13, 2019 |

RATESETTER is planning to introduce stress testing to its provision fund over the next financial year.

The ‘big three’ peer-to-peer lender’s provision fund is a buffer that protects investors against losses should any of its loans default. Borrowers pay cash … Read More

Blend Network calls for more P2P lending education to boost SIPP investment

August 12, 2019 |

A BETTER understanding of peer-to-peer lending risks and regulations could help boost the use of the product within self-invested personal pensions (SIPPs), research claims.

A survey of 1,000 pension investors, by P2P property lender Blend Network, found 25 per cent … Read More

LendInvest secures £200m institutional funding line

August 12, 2019 |

LENDINVEST has secured a £200m funding line from the National Australia Bank (NAB).

The alternative property lender said the institutional funding would help expand its buy-to-let product.

The platform has now raised more than £1.8bn of debt and equity from … Read More

Peer Funding closure due to lack of funding, not industry

August 9, 2019 |

PEER Funding’s compliance head has said that the peer-to-peer lending platform’s imminent closure should not reflect on the viability of the wider P2P industry.

In a call with Peer2Peer Finance News, Peer Funding’s risk and compliance director Roger Smith said … Read More

ThinCats: Younger SMEs shift to alternative finance

August 8, 2019 |

NEWLY established small and medium enterprises (SMEs) in the UK are increasingly looking to alternative financing to meet their funding needs, new research has revealed

According to the survey from business lender ThinCats, only 31 per cent of SMEs under … Read More

Lord Myners heaps further pressure on FCA over Lendy failings

July 24, 2019 |

FORMER City minister Lord Myners is keeping the pressure on the Financial Conduct Authority over its decision to authorise now-collapsed peer-to-peer lending platform Lendy.

A series of written parliamentary questions show Lord Myners is seeking answers on whether better regulation … Read More

Growth Street pledges £75m overdraft funding for East Anglia

July 24, 2019 |

GROWTH Street has pledged to commit £75m of overdraft-style financing to small- and medium-sized enterprises (SMEs) in East Anglia.

The peer-to-peer business lender, which provides a revolving credit facility for borrowers, said it is already 10 per cent towards its … Read More

New concerns emerge about FCA regulation of Lendy

July 22, 2019 |

LENDY investors have backed calls for an independent probe into the regulation of the peer-to-peer property lending platform prior to its collapse.

The latest administrator’s report on Lendy showed that the Financial Conduct Authority (FCA) had given full authorisation to … Read More

European banking watchdog calls for more domestic P2P regulations

July 19, 2019 |

THE European Banking Authority (EBA) has called for proposed cross border peer-to-peer lending and crowdfunding regulations to go further to protect consumers.

The European Parliament is currently considering proposals to create a single market-wide crowdfunding licence that will allow platforms … Read More

Property Partner unveils new chief exec and introduces account fee

July 17, 2019 |

PROPERTY Partner has appointed a new chief executive and has introduced new fees to the platform.

The peer-to-peer property investment platform, which crowdfunds projects and provides development loans, is now on its third chief executive in five years.

Chief financial … Read More