P2P lending grows faster than ever, figures show

The news follows last week’s Budget decision by Chancellor George Osborne that peer-to-peer loans will be covered by a new, third type of ISA from next April.
 
Commenting on the figures, Christine Farnish, Chair of the P2PFA said:
 
“We have passed yet another milestone with P2PFA members facilitating over half a billion pounds of new loans in the last six months. At this rate we may hit £4bn by the New Year.

“Strong growth continues across all parts of the market, reflecting the increasing trust that both lending consumers and borrowers have in P2P platforms. We expect that growth to be further stimulated by the very welcome changes on ISAs. This can only benefit both consumers and the wider economy.”