AltFi.com uses cookies on this website. They help us to know a little bit about how you use our website, which improves the browsing experience and marketing - both for you and for others. They are stored locally on your device. By continuing to use this site you accept this use of cookies. Go to the Privacy and Cookies page for more information. You'll see this message only once.
Not signed in. Log in here.

Your daily download of all things alternative finance and fintech, from us at AltFi


 

Lending Review




By Sukhwinder Shoker on 29th January 2016


 

 

The Liberum AltFi Volume Index (UK) has climbed to in £5.7bn in cumulative lending. The annualized growth for the combined loan volume origination of the top 5 UK platforms is 100%. This is in line with the annual growth of the wider peer to peer lending sector.

RateSetter has become the third platform in the UK to surpass £1bn in cumulative origination lending and, according to the Liberum AltFi Volume Index (UK) has become the fastest UK platform to hit the mark. Monthly volume origination has been growing steadily since the platform’s inception and this month RateSetter is on course to go beyond the record £53.5m it facilitated in December 2015, underlining a strong start to 2016.

RateSetter have also added fields earlier this month to their publicly available loanbook providing greater depth and transparency for consumers. Some highlights of RateSetter’s loanbook exploration include:

  • 1,949 days to achieve £1bn in cumulative lending, half the time Zopa took.
  • In the last 20 months, weighted gross interest rates have fluctuated between 6.8%-8.5%.
  • 30% of monthly origination is attributed in loans of less than 13 months.
  • Diversification through 10 loan purpose categories. 20% of quarterly lending may be attributed to partnerships that were engaged by RateSetter with companies such as GiffGaff and Commuter Club.

Comments


Enter your name:

Enter a comment in the box below:

More like this:

The Different Business Models of Crowdfunding
8th July 2016
Lisa Walls-Hester
Lending Review - Funding Circle Surpass Industry Record
3rd December 2015
Sukhwinder Shoker
Understanding the enterprise finance cycle
14th July 2016
Lisa Walls-Hester