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

Peer-to-peer investments to be offered on adviser platforms

Written by:
Consumers will be able to invest in peer-to-peer (P2P) loans via leading wealth management platforms for the first time, following an agreement between P2P provider RateSetter and technology firm FNZ.

The tie-up will mean clients of FNZ-powered wealth management platforms  – including AXA, Friends Life, HSBC, UBS and Zurich – will be able to invest in four RateSetter P2P products.

The move, which is set to be introduced early next year, will open up the P2P lending space to millions of new investors.

P2P, also known as crowd-lending, is a relatively new financial product that matches lenders with individual borrowers. Money can be borrowed at lower rates, and savers can secure better rates of return than those offered by mainstream banks.

In July’s Emergency Budget, Chancellor George Osborne confirmed that a new type of ISA will be brought in next April, allowing peer-to-peer investors to earn interest tax -free.

Ceri Williams, business development manager at RateSetter, said: “Peer-to-peer lending continues to grow in popularity – our current investors include everyone from retail consumers who might lend a few thousand pounds, to the Government, which has lent £10m using our platform via the British Business Bank vehicle. This agreement will allow some of the biggest investment platforms in the UK to offer peer-to-peer investments to their adviser client base – the end user will benefit from having even more access to attractive interest rates on currently underperforming deposits.”

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