The peer-to-peer lending industry has been going from strength to strength since its start in 2005. Last year, cumulative lending volumes throughout the industry pushed past the £7 billion mark. The rapid growth of the industry brings in a rapid increase of Lenders looking for higher returns on their cash in this low interest rate environment.
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It wasn’t too long ago that we announced that our Resale Marketplace hit £1 million worth of Loan Parts being traded. Now just a few months down the road we are delighted to see our Resale Marketplace cross the £2 million mark!
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At Relendex, we aim to secure first legal charge against the property for deals that we put up on the platform. Aside from first charge, there are occasions whereby we take a guarantee or additional collateral from the borrower.
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We’ve covered briefly why peer-to-peer lending is a viable alternative to banks when it comes to commercial property funding Peer-to-Peer Lending - An Alternative to Banks. As more borrowers come to us, we thought it would be good to have a brief case study of how we can help borrowers achieve more when it comes to commercial property projects.
Summary
The broker whom we have a strong relationship with initially approached Relendex knowing we would be able to work with an evolving set of circumstances.
A recent report by EY researched the adoption of FinTech across 20 markets and over 22,000 online interviews. While it should come as no surprise that FinTech adoption across the globe has been on the rise, the report delved into greater detail on the countries and industries that are driving FinTech adoption.
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Extract of an interview conducted earlier in the year with Michael Lynn CEO of Relendex.
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