Peer to peer lender Folk2Folk announced on Wednesday that it has appointed law firms across the UK to its new national Legal Panel. The platform revealed details about the new panel earlier this year.
According to Folk2Folk, a growing Legal Panel enables it to expand nationally while maintaining traditional values and local focus through the local networks of law firms. Panel law firms will carry out the legal work necessary to perfect security and complete loans in their locality whilst also providing the platform with local knowledge as part of the security process.
Three recently appointed firms include:
- Tanners based in Gloucestershire,
- Milne Moser based in Cumbria
- Wright Hassall based in Warwickshire
All of the firms reportedly have expertise in the rural and agricultural sectors. CEO of Folk2Folk, Jane Dumeresque, commented:
“These appointments are in areas where the Folk2Folk financial solution can make a real difference to businesses. All three firms embody what we are looking for in a Legal Panel firm namely: proactivity and responsiveness coupled with deep connections with their local area and into rural communities in particular.
“Milne Moser is a dynamic firm with an appetite for innovation and new business models and we saw striking synergies between us. While Wright Hassall is attractive to us because of its 170 year heritage and deep roots within the community and, in particular, the agricultural sector. Their abundant expertise in secured lending will ensure the quick commercial approach that we expect from our Legal Panel. And Tanners is a firm deeply embedded in their local community who are familiar with Private Mortgages and P2P lending so really understand the benefit of Folk2Folk’s offerings.”
Justine Allen, a Partner at Milne Moser, added:
“We are delighted to be working with Folk2Folk. Not only is their peer-to-peer lending facility an excellent alternative to standard bank borrowing, but it provides a great investment option for those who have money in the bank making little, or no return. The fact that Folk2Folk endeavour to match borrowers and lenders in the same geographical area and thereby keep money in the local community is commendable and something that we are very proud to be associated with.”