Peer-to-peer lending heralds mortgages without banks


crowdfunding By Chris Baraniuk | NewScientist

Crowdsourced loans and peer-to-peer lending are cutting banks out of the mortgage market – and this is just the start.

Need a mortgage? In the near future you may find yourself canvassing strangers online for a loan instead of your bank. The rise of a new kind of crowdfunding website is opening up the potential for everyone to take part in – and profit from – financial services, without a bank in sight.

Peer-to-peer (P2P) lending, which connects those who need money with those looking to grow their own, has enjoyed a dramatic rise in popularity in recent years, fuelled by a shortage of credit at one end and lacklustre interest rates at the other.

The trend began in earnest when sites like Zopa began helping people secure personal loans through crowdsourced funding. But now an increasing number of peer-to-peer investors are looking to get a slice of the property market.


Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories