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Peer2Peer Finance News | August 19, 2019

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Ex-RateSetter business finance head launches new P2P platform

August 14, 2019 |

RATESETTER alumni Brian Cartwright has launched new alternative property lender Nexa Finance, with a focus on the East Midlands.

Cartwright (pictured), managing director at Nexa, previously worked as head of business finance at ‘big three’ peer-to-peer lender RateSetter.

His new … Read More

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

Tisa creates guide to appropriateness tests for P2P platforms

August 1, 2019 |

INVESTMENT and savings trade body Tisa has published a guide to appropriateness tests for peer-to-peer lending platforms to help them comply with new investor marketing rules.

The guide advises P2P firms on how to identify appropriate investors and how to warn clients … Read More

Platforms may be forced to favour high net worths due to incoming 10pc rule

August 1, 2019 |

RETAIL investors are at risk of being shut out of the peer-to-peer lending sector due to the so-called 10 per cent rule that will come into force this December.

The rule change is part of investor marketing restrictions introduced by … Read More

Former RateSetter executive to launch new P2P platform

July 30, 2019 |

RATESETTER’S former chief technology officer John Gillespie is preparing to launch a “next generation” peer-to-peer consumer lending platform.

After raising money from family and friends, SquareDeal.Finance has opened pre-registration for a funding round on equity crowdfunding platform Seedrs.

Gillespie has … Read More

RateSetter pushes back legacy wholesale lending repayment date

July 23, 2019 |

RATESETTER’S exposure to its discontinued wholesale lending portfolio will take longer to be repaid than first anticipated, the peer-to-peer lender has revealed.

The platform discontinued wholesale lending at the end of 2016 and acquired three companies associated with a former … Read More

What will the appropriateness test actually look like?

July 17, 2019 |

IT’S OFFICIAL – the Financial Conduct Authority (FCA) will soon make it mandatory for all peer-to-peer platforms to introduce an “appropriateness test” for new investors.

The purpose of the test will be to weed out any unsuitable lenders, and any … Read More

What is P2P car finance?

July 15, 2019 |

PEER-TO-PEER car finance has been on the rise in recent years, but in a sector where investors are more used to investing in business or property loans, what can car finance loans do differently?

P2P car finance is a fast-growing … Read More

Could the 10pc rule bring £6.9bn into P2P sector each year?

July 11, 2019 |

WHEN the Financial Conduct Authority (FCA) rolled out a new raft of rules for the peer-to-peer lending sector, there was one requirement which received decidedly mixed reviews. In an effort to promote diversification and risk awareness, the regulator announced plans … Read More

RateSetter chief welcomes 10 per cent investor limit

July 5, 2019 |

RATESETTER’S chief executive Rhydian Lewis (pictured) has welcomed incoming rules that limit everyday investors to putting no more than 10 per cent of their portfolio into peer-to-peer loans.

The new Financial Conduct Authority (FCA) regulations bring P2P lending into line with … Read More