New figures from the P2PFA show that P2P lending industry lent more than £459 million in the first quarter of 2015, taking cumulative lending to more than £2.6 billion. The data also shows an increase in lending on the previous quarter (Q4 2014) by almost a third (32.7 per cent) with net lending flow exceeding £255 million. These figures follow data by the P2PFA showing its members lent over £1.2 billion alone in 2014.
Commenting on the figures, Christine Farnish, Chair of the P2PFA said:
“These numbers are excellent and reflect the strong industry growth into 2015. We are continuing to see strong appetite in the consumer market and a significant increase in lending flow to businesses too.”
“The future decision around how peer-to-peer lending will work within the ISA wrapper remains crucial for the industry this year. It is important to ensure a separate ‘Lending ISA’ is created, a decision that will not only create greater consumer choice, but will avoid any confusion of placing peer-to-peer loans with stocks and shares, a completely different and riskier asset class.”
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