Online lender RateSetter has appointed Dave Bibby as its new Regional Property Manager. According to P2P Finance News, Bibby will be responsible for developing RateSetter’s property finance business across the North of England. He has over 30 years of experience in the banking sector and has held positions at Santander UK, Together-Loans, and Roma Finance.
“The property finance industry has seen tremendous change over the past few years, with modern sources of finance such as RateSetter offering incredibly fast drawdowns and personal service. I’m excited to play a part in its future growth.”
Neal Moy, RateSetter’s Head of Property Finance, added:
“We are delighted that Dave has joined our team. He brings decades of property finance experience and expertise which I am certain will help us expand our customer base in the North of England.”
Bibby’s appointment comes less than a month after RateSetter announced its departure from the Peer-to-Peer Finance Association (P2PFA). The online lender was hit with a series of significant operational challenges as several loans struggled. The peer to peer lender took over several loan pools including Vehicle Trading Group Limited, VSL and AdPod. The total came in at £48 million. RateSetter admitted that AdPod, a company that received £12 million in loans and had £8.5 million outstanding at last report, should not have cleared its internal credit policy.