bigfoot12
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Post by bigfoot12 on Feb 5, 2015 11:05:28 GMT
www.ft.com/cms/s/0/8f9de5fa-ac46-11e4-9d32-00144feab7de.htmlWill take 18-24 months will offer borrowing and lending to its own customers and has been in discussion with some existing providers to offer their products on the same platfrom. “If only a small proportion of our customers take part, that could still make us the largest peer-to-peer lender by some considerable way,” said Mr Gorham. (HL have £49Bn under management.)
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Post by ranjeb on Feb 5, 2015 11:12:13 GMT
I just wonder if they will be able to find enough borrowers.
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c88dnf
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Post by c88dnf on Feb 5, 2015 11:19:13 GMT
I just wonder if they will be able to find enough borrowers. I assume they will target their large pool of existing investors (including me) for loans first.
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bigfoot12
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Post by bigfoot12 on Feb 5, 2015 12:32:15 GMT
Indeed they did say that in the first instance their own customers would be the borrowers and the lenders.
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Post by davee39 on Feb 5, 2015 12:38:56 GMT
Outstandingly good news. A latecomer with a very good IT platform and a large customer base of stockmarket investors will be able to add immediate scale, an area where the 'me too' tiny players have failed. I have been surprised that a large Building Society has not branched into P2P. Just as RS shook up Zopas market I would expect this move to keep RS on their toes. Platform risk has made me cautious of increasing my P2P holdings, but I will probably be going for their ISA whatever the rate. The logic is clearly P2P & stockmarket investments in the same ISA (or SIPP) wrapper.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 5, 2015 13:19:00 GMT
www.ft.com/cms/s/0/8f9de5fa-ac46-11e4-9d32-00144feab7de.htmlWill take 18-24 months will offer borrowing and lending to its own customers and has been in discussion with some existing providers to offer their products on the same platfrom. “If only a small proportion of our customers take part, that could still make us the largest peer-to-peer lender by some considerable way,” said Mr Gorham. (HL have £49Bn under management.) Not sure they will be the largest Peer to Peer lender to 2 years time. If clients decide to borrow against 2% of that £49bn, they will have P2P platform of c.£1Bn. I think FC will exceed £1Bn this year. In the meantime the introduction of P2P ISA's may reduce that £49Bn by 2%, and that will be going to Peer to Business lending like AC and TC as well as FC and others.
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