P2P lending doubles in six months
New figures released today by the P2PFA show that peer-to-peer lenders lent over £500million of new money in the first half of 2014 alone, demonstrating a further acceleration in the growth rate of this important new sector.
The aggregate rate of flow of funds through P2P platforms has doubled over the last 6 months.
Christine Farnish, Chair of the P2PFA, said:
“Peer to peer lending is consolidating its position as a good value and reliable form of funding for credit worthy consumers and small businesses, and more and more consumers are turning to P2P lending as a good way of putting their spare cash to work. As we continue to grow we are committed to maintaining the highest standards of business conduct and are working with the FCA to ensure a smooth transition to statutory regulation.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: Nationwide
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn