With the regulatory changes by the Financial Conduct Authority (FCA), Landbay, a peer-to-peer lender backed by Zoopla could possibly face more regulations.
The City watchdog has released a consultation on improving transparency and disclosure in the peer-to-peer and crowdfunding sector.
One proposal is to expand mortgage regulation rules to P2P platforms offering home finance such as buy-to-let loans and development or bridging products.
This would impact alternative property lenders such as Landbay.
They would have to follow mortgage rules on fee and interest rate disclosure, treatment of customer arrears, provide transaction data to the FCA and apply tough affordability assessments used by mainstream lenders.
Read more here
Join us in Madrid from the 13th to the 16th of November for the Property Portal Watch Conference.