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Peer-to-Peer Lending shoots past the £1.5 Billion mark

Peer-to-Peer Lending shoots past the £1.5 Billion mark

“This comes as no surprise to us here at Redrock Commercial Finance, our bridging Loans team have been flat out providing solutions for borrowers.”

Gary Poulton, Partner at Redrock Commercial Finance, goes on to say…

The latest figures published by AltFi Data, show the peer-to-peer lending sector in the UK has grown 50% in just 5 months!

 

Bridging loans and other peer-to-peer lending is now beginning to take share from the traditional high street banks

This is phenomenal growth and illustrates, bridging loans and other peer-to-peer lending is now beginning to take share from the traditional high street banks.

The P2P segment of the Liberum AltFi Volume index, which tracks the volume of loans originated by UK P2P lenders, hit the £1.5bn mark over the long weekend and currently stands at £1,503,849,640. The staggering growth of the industry is highlighted by the fact that this cumulative volume figure only passed the £1bn pound mark in late December 2013, meaning that the industry has grown by 50% in just five months.

AltFi Data has been tracking the sector’s growth closely, and reported the news that the alternative finance sector as a whole had smashed through the billion pound barrier in Janaury. The latest figures indicate that the peer-to-peer sector’s growth rate continues to increase. If the rate of growth tracks along the same trajectory, AltFi Data estimate that the Liberum AltFi Volume index could reach £2.75bn by the end of the year, showing 175% growth.

Sam Griffiths, Managing Director of AltFi Data, commented:

"The £1.5bn headline figure is a major milestone for the rapidly growing P2P Lending industry in the UK, but perhaps more important is the fact that almost a third of those loans have been originated in 2014, underlining the phenomenal growth of the industry."


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