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Peer2Peer Finance News | August 21, 2019

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wholesale lending

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

Motor acquisitions drive RateSetter further into the red

December 11, 2018 |

RATESETTER has said it is making progress towards becoming “cash flow positive” after revealing a £26.7m loss in its latest annual results.

The peer-to-peer lender posted a 47 per cent rise in revenues to £34.3m for the year ended 31 March … Read More

Former RateSetter-backed lender ‘transforms’ new owner’s guarantor loans business

March 13, 2018 |

THE ACQUISITION of RateSetter’s former wholesale lending partner George Banco has made Non-Standard Finance “the clear number two in the UK guarantor loans market”, the consumer finance group has said.

Non-Standard Finance bought the guarantor loan provider last August for … Read More

RateSetter’s losses widen to £23.3m after wholesale lending write-off

December 6, 2017 |

RATESETTER reported record revenues in the last financial year but saw its losses increase after taking a one-off £14m hit on a borrower rather than exposing investors on its provision fund.

The peer-to-peer lender’s latest annual accounts for the 12 … Read More

RateSetter loan book hits £2bn milestone

July 28, 2017 |

RATESETTER is the last of the “big three” platforms to have passed the £2bn loans milestone.

Zopa and Funding Circle hit £2bn of cumulative lending in January and February of this year respectively and RateSetter’s total loan book passed that … Read More

RateSetter gives investors option to sell out free due to wholesale “interventions”

July 18, 2017 |

RATESETTER is giving all its lenders an option to sell out of their investment free of charges, as part of its wind-down of exposure to its wholesale lending portfolio.

The peer-to-peer platform wrote to investors on Tuesday to outline “interventions” … Read More

RateSetter decides not to lend to George Banco’s customers

June 2, 2017 |

RATESETTER has announced that it has decided not to lend directly to George Banco’s customers as there are “better uses of our development resources”.

The ‘big three’ peer-to-peer lender bought a stake in the guarantor loan provider, which was a … Read More

RateSetter clarifies types of lending

May 12, 2017 |

NEW MONEY invested through RateSetter’s platform may be matched to existing wholesale loans, the firm said on Friday.

The ‘big three’ peer-to-peer lender announced in late 2016 that it was winding down its wholesale loan book as the activity may … Read More

RateSetter buys former wholesale lending partners

May 2, 2017 |

RATESETTER has fully acquired two former wholesale lending partners and bought a stake in another, meaning it can still lend to the firms’ customers without flouting the City watchdog’s rules.

The Financial Conduct Authority recently confirmed that it was unhappy … Read More

Social P2P venture hindered by wholesale crackdown

April 18, 2017 |

THE FOUNDER of ThinCats has said that the regulator’s clampdown on wholesale lending will affect projects that can be funded through his social peer-to-peer lending platform Community Chest.

Kevin Caley (pictured) launched the social enterprise last year and it funded its … Read More