The UK Peer to Peer Finance Association have just release the data for Q2 of 2016 to show that lending currently stands at £5.8bn with around £658 Million lent in Q2. This shows a dip from Q1 which was a total of £715 Million. However the quantity of both lenders and borrowers increased and the figures show the market is still very active. There are now 150,376 lenders and 332,107 borrowers across the peer to peer platforms, showing it’s a big player as a financial lending product as well as investing.
Data sourced from P2PFA
We believe the total number of users will continue to increase as alternative finance continues to become more apparent and the visibility and education is increasing. There are lots of events and discovery days about the market and businesses are now becoming knowledgeable, as well as individuals, on what their options are. Although growth has slightly dropped, the figures still show the market is booming and performing. The impact of Brexit will have played a role but alternative finance providers will be dedicated to shifting in order to suit consumer’s needs. With new products and services on the horizon, such as the new IFISA’s, it’s a very exciting time.
Remember that investing into peer to peer lending has risks involved and your capital could be lost.
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