RateSetter in the press - October 2014
By James Tall | Mon 10 Nov 14
By James Tall | Mon 10 Nov 14
Landmark consultation on P2P ISAs launched
The Government published its eagerly anticipated consultation on how P2P loans will be included within ISAs.
This is a major move which highlight's the industry's shift from niche into mainstream.
Options being considered include P2P loans being held within the existing Stocks & Shares ISA or the exciting idea of a new third type of ISA - a P2P ISA.
In an interview with Financial Times, Rhydian said:
"The government has stated that it wants to encourage greater competition and choice in financial services and allowing peer-to-peer into Isas is part of that. The UK is a leader in peer-to-peer lending and inclusion in Isas will open up the benefits to more British savers and borrowers."
The consultation closes on 12 December 2014. You can access it and have your say by clicking here
Want a better return on your money?
In line with the ISA news, many publications reported on how P2P is giving Brits the chance to get a higher income from their money. The Telegraph outlined how P2P is driving 'the hunt for yield', whilst The Observer also picked up on the theme and reported that there are now over 100,000 investors in P2P.
The Week highlighted how you can get returns of up to 6% with RateSetter whilst Your Money reported on how the platform is now seeing inflows of over £30m per month. The Guardian, The Scotsman, and BT.com also outlined the benefits of peer-to-peer lending.
MoneyWeek carried a feature on the attractive opportunities for investors on offer from the P2P sector.
In other news
This is Money profiled RateSetter's partnership with CommuterClub. The piece explored how the platform is teaming up with other companies to provide innovative consumer finance solutions.
"Peer-to-peer lending has massive potential to power a wide range of consumer services. We have therefore forged some exciting B2B partnerships with other disruptive companies."
"Our partnership with giffgaff, for example, is the first ever commercial partnership between a P2P platform and a mobile operator - and it has driven a dramatic increase in the number of people taking out peer-to-peer loans across the UK."
FT Adviser reported on RateSetter's ground-breaking platform for financial advisers - the only one of its kind within the P2P industry.
AltFi Data provided an overview on a record-breaking September for RateSetter:
"RateSetter capped off a big month that included a website and brand refresh as well as four triumphs at the AltFi Awards by posting a new monthly record for UK P2P lending."
"With £32.8m lent throughout September, RateSetter grew 21.9% on last month and has now posted new record volumes for each of the last 5 months - a highly impressive feat. The Platform also passed the £200m mark on year to date loan originations, the most of any UK P2P Platform."
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