Tagged: ratesetter

RateSetter Withdraws From the UK Peer to Peer Finance Association [u]

On Friday, P2P lending platform RateSetter announced it has withdrawn from the Peer-to-Peer Finance Association (P2PFA). This news comes less than a month after the online lender was hit with a series of significant operational challenges as several large loans have struggled. RateSetter stated; “Following our… Read More

RateSetter Milestone: Investors Fund £2 Billion of Loans & Have Earned More Than £76 Million in Interest

RateSetter recently announced its lenders have now delivered more than £2 billion in loans to people and businesses across the UK and in doing so have earned over £76 million in interest. According to the online lender, 94% of its lenders are individuals looking for… Read More

RateSetter Upheaval: P2P Lender Shoulders Struggling Loans, Backs Away from Wholesale Lending

RateSetter has been hit with a series of significant operational challenges as several large loans have struggled.  The widely reported series of events have culminated in approximately £48 million worth of loans being taken over by the P2P Lender. This amount would have  outstripped the… Read More

RateSetter Update: Decides to Not Go Ahead With George Banco Partnership

Last month, RateSetter announced it was entering a partnership with George Banco and acquiring an equity stake in the personal loan provider company. Unfortunately, RateSetter revealed earlier this month that it has decided to pull out of the partnership after all. As previously reported, George Banco… Read More

RateSetter Grows: Online Lender Partners with George Banco, Acquires Two Motor Finance Businesses

RateSetter is expanding its footprint by entering into a strategic partnership with personal loan provider George Banco. RateSetter has also acquired an equity stake in the George Banco company. George Banco is one of the UK’s largest guarantor lending platforms. The partnership incorporated the acquisition… Read More

RateSetter Reports: Investors Have Lent More Than £400 Million to Small & Medium Sized UK Businesses

P2P lender RateSetter announced on Thursday its community of investors have lent more than £400 million to small and medium-sized businesses throughout the UK. The online lender revealed on Twitter the exciting milestone news. RateSetter investors have lent more than £400m to businesses across the UK, including… Read More

RateSetter Business Finance Adds Relationship Manager Amanda Sharp

  RateSetter has appointed Amanda Sharp as Regional Relationship Manager for London and the South East. Sharp previously spent 35 years with RBS Group. While at RBS, Sharp spent 20 years in the Business and Commercial division working with SMEs. Sharp has joined RateSetter to… Read More

Half of UK’s Financial Service Staff is Now Under the Women in Finance Charter

An additional 33 companies have registered for the UK’s Women in Finance Charter, the ground-breaking piece of legislature aimed to conquer gender inequality. This announcement arrives on the very first anniversary of the charter, which now includes 122 firms, over half a million people in… Read More

RateSetter Releases Performance Statistic Update

P2P lender RateSetter announced on Friday it has updated its performance statistics. According to the lending platform, a new set of fields on the Performance by year means investors may now view the amount lent by year, which is broken down by lending type. The… Read More

Final Spring Budget: Alternative Finance Provides Feedback on Chancellor of the Exchequer Philip Hammond’s Announcements [u]

Chancellor of the Exchequer Philip Hammond delivered the final Spring budget today. Many policy questions persist as the UK separates itself from the European Union: Will the UK be able to maintain its leading economic status in Europe? Will the UK hold onto its dominance… Read More

RateSetter Forms Partnership With Accountancy Advisor TaxAssist to Engage With SMEs

Online lender RateSetter has formed a partnership with accountancy advisor TaxAssist Accountants to help engage with small and medium-sized enterprises (SMEs). TaxAssist Accountant notably specializes in all businesses with a turnover of £2 million of less. It has more than 290 locations throughout the UK. While discussing the… Read More

RateSetter Borrowers Have Paid Back £1 Billion, Investors Have Earned £63 Million

Online lender RateSetter has said it has now collected £1 billion in capital repayments from borrowers since its first loan back in 2010. Overall, RateSetter has originated approximately £1.75 billion in loans while paying out £63 million in interest.  The average interest rate ranged between… Read More

RateSetter Announces Lender Term Updates

RateSetter, a leading UK peer-to-peer lending platform, announced this week it is updating its lender terms. This news comes just a few months after the company announced it was adding more flexibility into the Provision Fund. The RateSetter team announced: “We believe that a more flexible… Read More

P2P-Banking’s Lehmann: Predictions for 2017 (Infographic)

The following table from P2P-Banking.com shows loan originations in P2P lending marketplaces during December 2016, with Funding Circle (114.1M) significantly leading Ratesetter (68.2M euro), Zopa (60.2 M euro) and LendInvest (24.9M euro). Lendix reports an all time record month at 7.7 million euros in loan origination…. Read More

RateSetter Sells £2.1 Million of Non-Performing Debt to 1st Credit

  RateSetter, a leading UK peer to peer lending platform, has completed the sale of £2.1 million of non-performing debt. RateSetter sold the assets t 1st Credit, a debt purchaser.  Exact terms of the transaction were not revealed but RateSetter said it was the first… Read More

Former PayPal UK’s Chief Credit Risk Officer Joins RateSetter

On Monday, RateSetter announced it appointed Michael Hoare as its new Head of Risk Analytics and Retail Credit. Hoare notably joins from PayPal UK, where he was Chief Credit Risk Officer. Prior to PayPal UK, Hoare also worked at Capital One, where he held various positions… Read More

RateSetter Reports: Investors Have Now Pocketed £50M in Interest

RateSetter, one of the UK’s largest marketplace lenders, reported on Thursday that since its launch in 2010 investors have pocketed more than £50 million in interest, earning an average rate of 4.7%.  According to the lender, investors use its website to lend money to individuals,… Read More

Revenue Up 46% at RateSetter. Pre-Tax Loss Stands at £4.9 Million

RateSetter has released its accounts for 2015 – 2016.  According to their financial results, top line revenue increased 46% to £18.5 million from £12.6 million versus prior period. The increase in revenue was paired with a pre-tax loss of £4.9 million compared to a pre-tax… Read More

RateSetter’s New Milestone: Surpasses £100M in Auto Loans

Earlier this week, RateSetter announced it has surpassed 100 million in car financing. and is considered the first peer-to-peer lending platform to lend the amount through motor partnerships. Sharing details about the new milestone, head of RateSetter Motor Finance, Nick Elkan, reportedly stated: “These are exciting… Read More

Real Estate Agents Disrupted: PurpleBricks Expands into Australia

  Purplebricks Group (AIM: PURP), a UK-based hybrid estate agent providing a new way to buy, sell or let property, has launched its business in Australia, 28th August 2016, with an initial regional focus on Melbourne and Brisbane before rolling out nationally. CEO Michael Bruce… Read More