Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_1440520901
July 3 2019

JustUs courts advisory sector to back P2P residential mortgages

Marc Shoffman Industry News, News Financial Conduct Authority, JustUs, Lee Birkett, property, residential mortgages

JUSTUS is calling on family offices, discretionary funds and financial advisers to help back its impending peer-to-peer residential mortgage product launch.

The P2P lender has invited these groups to register their interest so they can offer the investments to their clients.

JustUs, which already provides bridging and buy-to-let loans, will offer residential mortgages for home purchase and remortgage alongside its existing products.

Retail investors will be able to invest alongside institutional backers such as pension funds and the loans will be offered over a five-year period.

The platform will use its chief executive Lee Birkett’s mortgage broking firm Moneybrain alongside a restricted network initially for distribution.

Read more: JustUs introduces auto-buy feature

Birkett said the product would help so-called mortgage prisoners, retired borrowers and the self-employed who he said are trapped by outdated rules, as well as first-time buyers who can’t raise the big deposits required.

Birkett said in June that the platform was two to three months away from launching its product after the Financial Conduct Authority (FCA) gave the green light for P2P lenders to offer residential mortgages by bringing providers in line with existing home finance regulations.

New rules on regulation of the P2P sector, published by FCA last month, said that “from 4 June 2019, [it is] applying the Mortgage and Home Finance Conduct of Business sourcebook (MCOB) and other Handbook requirements to P2P platforms that offer home finance products, where at least one of the investors is not an authorised home finance provider.”

Zopa plans £200m fundraise ahead of bank launch and IPO Relendex poaches Assetz Capital’s James Hodgson to boost business in North East

Related Posts

THP_7598 (1)

Global News, Industry News, News, Property, Top 3

Property Bridges launches auto-invest product

Person Flying Car Over Declining Stacked Coins

Industry News, News, Top 3

Second charge mortgage and car finance markets contract

woman using laptop, searching web, browsing information, having workplace at home  / soft focus picture / Vintage concept

Industry News, News, Top 3

Kuflink launches search feature for select invest deals

Popular posts:

  • JP Morgan chief predicts shift to non-bank lending
  • FCA has increased surveillance over last 12 months
  • P2P veteran joins bridging lender
  • Recovery loan scheme opens today
  • SMEs warned they could be excluded from recovery loan scheme
  • Every IFISA that is open for investment right now
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by