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Peer2Peer Finance News | July 20, 2018

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provision fund

Kuflink investors worry the platform has lost its USP

May 1, 2018 |

INVESTORS have expressed concern that peer-to-peer lender Kuflink has lost its unique selling point after ditching its policy of investing 20 per cent in all loans on the platform on a first-loss basis.

The P2P property platform announced last week … Read More

Assetz Capital repairs bug that caused missed payments

February 13, 2018 |

ASSETZ Capital has identified and corrected a software issue which had led to late or missed interest payments for some of its investors.

In a statement sent to customers of the site, the platform’s chief executive and co-founder Stuart Law … Read More

Provision funds are still alive and well in P2P

October 31, 2017 |

THE UK’S oldest peer-to-peer lender is getting set to withdraw its provision fund but there are still platforms that investors can choose if they feel more comfortable with a safety net in place.

Zopa has announced it will wind down … Read More

RateSetter’s new chairman heralds benefits of provision fund

July 17, 2017 |

RATESETTER’S new non-executive chairman Paul Manduca (pictured) has heralded the peer-to-peer lender’s “simplicity”, citing its provision fund as an example, on his first day in his new role.

The asset management veteran said that financial innovation can sometimes result in … Read More

RateSetter to launch hire purchase loans

July 5, 2017 |

RATESETTER has announced plans to start offering Hire-Purchase (HP) products for commercial and individual borrowers later this month.

While details on the interest rates and underwriting criteria are yet to be released, the company has confirmed that the HP loans … Read More

JustUs modifies ‘Rainyday’ fund to cover interest only

June 15, 2017 |

JUSTUS will no longer cover capital payments under the terms of its ‘Rainyday’ pot, in a remodelling of its provision fund.

Effective immediately, the firm will only cover the interest on unsecured loan payments and not capital. This applies to … Read More

Zopa clarifies coverage ratios ahead of Core account launch

June 9, 2017 |

ZOPA has clarified the expected implications of phasing out of its provision fund as it prepares to launch Zopa Core on Thursday, a new account which will not be backed by the fund.

On 15 June, the peer-to-peer platform’s target date … Read More

RateSetter continues to boost transparency with new expected losses committee

April 4, 2017 |

RATESETTER has set up a new committee on expected losses as part of a review of the way it monitors and reports on credit risk.

The panel, which will come into effect later this month, comprises the peer-to-peer lender’s chief … Read More

Allen: Most P2P lenders want comfort of provision fund

March 18, 2017 |

THE MAJORITY of lenders considering peer-to-peer would want the reassurance of a provision fund, according to P2P credit risk expert Kevin Allen (pictured).

The industry veteran, who was RateSetter’s first-ever chief risk officer, said that less engaged investors would be … Read More

P2P investing firm calls for end to provision funds

February 8, 2017 |

PEER-TO-PEER lenders should not use provision funds, a P2P investment manager has argued in a new report.

BondMason claims the funds, used by platforms such as Zopa and RateSetter, are just a tool to attract lenders.

The provision fund is a … Read More