Tag: Alt Lending

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Alt Lending Week ended 17 September 2021

Johnson’s tax hikes makes raising rates difficult. A warning from the Bank of England that Johnson’s manifesto busting hikes in interest rates is significant enough to effect monetary policy. Well you can’t say he hasn’t been warned but he doesn’t seem interested in taking advice. Seriously though what are personal credit markets supposed to do…
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17 September 2021 0

Alt Lending week ending September 10th 2021

Overseas companies find British red tape a hindrance to doing business. I am not a great fan of the FCA and think they should perhaps take a leaf out of the medical professions book when nudging UK banks in one direction or another. “First do no harm” comes to mind. I have known for some…
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10 September 2021 0

Alt Lending week ended 3rd September 2021

Buy now pay later. (BNPL) Klarna leads the way, but to where? The world of buy now pay later is expanding at a rapid rate and Klarna is at the forefront with all of the necessary attributes of a Fintech start up. Rapid client expansion, a stellar market valuation and heavy and increasing losses. Nevertheless…
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3 September 2021 0

Alt Lending week ending 27th August 2021

Revolut to take on payday loans industry Revolut is certainly not averse to enter new areas and has recently announced that it is launching a new reason why workers should get their salaries paid into a Revolut account by essentially providing clients with the ability to draw them down in advance of payday. So what’s…
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27 August 2021 0

Alt Lending Week Ended 20th August 2021

Who are the regulators trying to protect? The strange story of Amigo continues. I have commented on this before. Amigo is a company that provide(s) (d) loans for individuals with poor credit rating so long as they can find someone to provide a sufficiently creditworthy guarantor. This idea always looked problematic to me. A Guarantee…
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20 August 2021 0

Alt Lending week ended 13th August 2021

Tesco Bank gives up the ghost. Who can blame them? Tesco Bank decided in December 2019 to stop offering current account services to new customers and followed up in July this year by confirming that existing customer accounts would be closed on  November 30th this year. Not surprisingly the 250,000 current account customers affected decided…
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13 August 2021 0

Alt Lending week ended 6th August 2021

Have mortgage lenders forgotten Deja vu? Lucy Burton a rather attractive young Telegraph reporter warns the banks to be honest with their clients and begs those self same clients to recognise that the UK mortgage market is overheating. One of the advantages of being old is that you tend to have seen history repeating itself…
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6 August 2021 0

Alt Lending week ending 30th July 2021

Criminal Case Review Commission (CCRC) takes another look at alleged LIBOR rigger Tom Hayes case. Tom Hayes has been fighting to clear his name ever since 2017 and despite not knowing the case intimately I feel a certain amount of sympathy for him. Once powerful institutions have decided that you must take the rap then…
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30 July 2021 0

Alt Lending Week 23rd July 2021

Bank of England signals concern over Cloud providers dominance in UK financial sector To be honest I am surprised that it has taken this long for this undoubted issue to surface. Let’s put it this way if all cloud companies were Chinese would we have tolerated the migrations we have had to date? Cloud computing…
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23 July 2021 0

Alt Lending week ended 16th July 2021

First of its kind LSE listing for Wise ought to be thought provoking? Not surprisingly, this story has been widely reported for a couple of reasons. Firstly because it is the first time a listing in London does not involve the issuance of new shares, thereby saving considerable underwriting costs and placement costs and secondly…
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16 July 2021 0