Category: Loans
The peer-to-peer property lender may already face millions of pounds of losses after two thirds of borrowers failed to repay their loans on time.
The panel will have four lenders: Funding Circle, iwoca, Whiteoak and Fleximise.
The letter was sent in the wake of complaints about a ‘chain’ of loans, where individuals take out one after another.
If it wasn’t Brexit it would have been something else so why not let the tide go out and see what the industry has been doing with itself since the credit crunch?
Cardiff based Optimum Credit was established in 2014 and has a second charge loan book of more than £450m.
Realrates.com is a venture from Stuart Glendinning, former managing director of moneysupermarket.com
The lender said it wanted to challenge the ‘financial blandscape’ and use branding to reflect the ‘lifestyle lending’ that the industry requires.
The products are a 1-year fix at 5.3% and a lifetime tracker at 4.4% above the Bank base rate, both to 75% loan-to-value.
It increased loan originations by 14% to £2.6bn over the period, up from £2.3bn in 2016.
Online secured loans distributor, Fluent Money Group has appointed Garry Taylor as chief technology officer to manage the next stages of developing a new IT system