You are here: Home - Investing - Experienced Investor - News -

Funding Circle “on track” to meet expectations

0
Written by: Emma Lunn
21/10/2019
Peer-to-peer lender reports £3.7bn of lending despite turbulent year.

There has been some encouraging news for investors in peer-to-peer lender Funding Circle with the firm reporting that its loans under management hit a record £3.7bn in the past three months. The figure is up by almost a third on the same period last year.

The value of the loans it processed year-to-date (originations) rose to £1.8bn, up from £1.6bn compared to the same period last year. However, the value of the loans it processed in Q3 2019 fell 0.5 per cent to £561m, from £565m in Q3 2018.

The lender’s operational overview said projected annualised returns for 2019 continue to show an improvement over recent years and that its performance was on track to meet market expectations for 2019.

Samir Desai, Funding Circle CEO and co-founder, said: “In the third quarter, loans under management reached £3.7bn and projected returns for 2019 continued to show an improvement over recent years. In what remains an uncertain economic environment we continue to manage the business prudently, which we are confident is the right course of action for the long-term growth and development of our business.”

Funding Circle’s share price jumped from 103p to 120p on the news. However, the shares were worth as much as 410p back in March.

Which? reported earlier this month that Funding Circle investors were waiting an average of three months – but some much longer – to get their money out of the peer-to-peer lending platform. In order to access your money, the loans you have made must be sold to another investor.

Related Posts

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week