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Peer2Peer Finance News | October 20, 2017

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wholesale lending

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

Investors warned P2P regulatory approval isn’t “badge of trust”

March 3, 2017 |

FINANCIAL Conduct Authority (FCA) approval is no guarantee of quality, a peer-to-peer investment manager has warned.

BondMason, an investment firm aiming to get clients a seven per cent return by selecting P2P loans across approved platforms on their behalf, claims … Read More

FCA writes to P2P platforms to take action over wholesale lending

February 28, 2017 |

PEER-TO-PEER lending platforms that engage in wholesale lending may be breaching regulations and need to take action, the Financial Conduct Authority (FCA) has said.  

The City watchdog is writing to the chief executives of all the platforms to highlight … Read More