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Peer2Peer Finance News | June 21, 2018

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wholesale lending

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

RateSetter provides update on wholesale lending

March 24, 2017 |

RATESETTER has said it is in close contact with the Financial Conduct Authority (FCA) as it transitions to new arrangements with its existing wholesale partners, “which may take a few months to conclude”.

The peer-to-peer lender stopped taking on … Read More

Basset & Gold launches fixed-rate IFISA

March 22, 2017 |

THE INNOVATIVE Finance ISA club is growing at full speed as fixed-income specialist Basset & Gold became the third player to unveil its tax-free wrapper on Tuesday.

The firm, which provides finance both to marketplace lending platforms and direct borrowers, … Read More