People who lend money through peer-to-peer lenders will be protected from bad debt by new policies introduced in Wednesday’s Autumn Statement.
In an effort to make the UK a more attractive place for financial technology companies, the government revealed a plan to support P2P lending and crowdfunding platforms through a package of measures designed to remove regulatory and tax obstacles.
These include a new bad debt relief for lending through P2P platforms – allowing lenders to write off bad debt in a similar way to banks. This is something that has been lobbied for since rebuildingsociety first started, so we’re delighted about this. It makes investing much more efficient and we’ll be looking at ways to change our statements to reflect it.
It’s been just over a month since we launched our new lender classifications and appropriateness test as required to by the new FCA regulations. Having always had a focus on lender education and awareness building...
2019 was the year that shook the P2P lending industry. It’s been an interesting year, to say the least. It has been a strong year for us. We’ve innovated where others have rolled back usability...
Understanding the return you’re receiving, compared to the platform average net return and the general health of the full loan book helps you to appreciate our performance in the context of other p2p lending platforms and other...
As of the 9th December 2019 all regulated P2P platforms will be required to ensure that all lenders on their platforms complete an appropriateness test. Find out more about what this means for you. 2019...
