UK Peer To Peer Lending Reaches Significant Milestone
The UK peer to peer industry reached a significant milestone during the first half of 2017 as historical P2P lending topped £10bn. This according to independent data, research and analysis provider Orca Money who report that over £2bn of this has come in 2017 to date.
To mark the continuing growth and diversification of peer to peer lending, Orca have produced an infographic that gives a snapshot of the current UK alternative lending landscape featuring P2P property lending platform, Proplend.
Orca CEO Iain Niblock explained: “Individual retail investors have benefited from the risk-adjusted returns that P2P offers. By creating efficient lending marketplaces, borrowers gain quick lending decisions and lenders receive fair rates of returns.”
As well as being a record year to date for the UK industry as a whole, it’s also been a record first 6 months for Proplend. With all loan investments secured against income producing commercial property and no defaults in their three and a half year history, the platform is considered one of the lowest risk platforms available.
Thanks in part to the recent launch of its Innovative Finance ISA (IFISA) and introduction of an Online Portal for Advisers and Wealth Managers earlier in the year, Proplend 2017 volumes have already surpassed those for the whole of 2016.
This includes a significant increase in SIPP (and SSAS) pension investment, with wider availability of the ISA and more loan investments in the pipeline likely to bolster these record numbers in the second half of 2017.