Australian Broker launched a new poll this week asking brokers whether they have referred business to a peer-to-peer (P2P) lender.
P2P lending is a new and innovative form of lending which vows to challenge the traditional lending landscape and offer a viable alternative to the major banks – and it has quickly gained traction in the market since SocietyOne was the first P2P lender to launch in Australia in 2012.
P2P lending works by connecting individual investors with creditworthy borrowers through an online platform. By doing this, P2P lenders can often provide better rates and returns without the barriers and infrastructure cost and complexities that traditional banks have to deal with.
Whilst P2P lending is not offered in the residential mortgage market as yet – instead largely focussing on SME lending and personal lending – there are a number of them who operate in the third party channel and offer competitive commissions.
Have your say now by voting in our poll! Feel free to share and discuss your experiences further on Australian Broker’s exclusive LinkedIn group for brokers to collaborate, share and discuss ideas and trends affecting their businesses and the wider industry.
