More than 150,000 lenders have invested in over 321,000 loans related to platforms from the Peer-to-Peer Finance Association (P2PFA) during the second quarter of 2019. This is according to a report released by the UK P2PFA on Septemebr 18, 2019.
Between April and June 2019, P2PFA platforms facilitated £800 million in loans. During this period, more than 150,000 lenders invested in 321,483 loans linked to P2PFA platforms.
According to Robert Pettigrew, Director of the P2PFA, the record number of investors and borrowers in the P2P lending industry was attracted by the innovative and competitive offer provided by P2PFA platforms.
Pettigrew explained these platforms embrace high levels of transparency and demonstrate robust business practice. Moreover, P2PFA platforms have also secured demonstrable investor and borrower confidence.
The report released by the P2PFA explains the UK is becoming an attractive marketplace for loans that are accessible to a wide spectrum of investors and borrowers.
The P2PFA agency was established back in 2011 and it is the self-regulatory body for P2P lending in the UK.
As LearnBonds reported a few days ago, the United Kingdom is the third country in terms of P2P Lending volumes in 2019. The U.K registered £1,444 million, after the United States and China with £19,320 million and £46,954 million respectively.
Moreover, we have also reported the U.S. Canada and Europe registered the largest gross volumes in the U.K. lending marketplace accounting for a total of $36,016 million in the last 12 months.
Lending platforms offer users the possibility to request loans from private investors. Individuals would then place their funds in these initiatives according to their interests.
The United Kingdom is becoming a hub in Europe and the world for P2P lending activities with the P2PFA providing a legal framework for platforms to operate and offer services to lenders and borrowers.