P2P Real Estate Lending Marketplace Relendex Reaches Milestone with Full FCA Authorisation
LONDON, March 28, 2017 /PRNewswire/ --
Relendex, a peer-to-peer (P2P) commercial real estate lending marketplace that directly connects creditworthy borrowers to investors, has reached a significant milestone with full authorisation from the Financial Conduct Authority (FCA). The regulation demonstrates the rigour and governance of the platform and will allow Relendex to launch its new Innovative Finance ISA giving retail investors unparalleled tax efficient lending to the U.K. commercial property market. Founder and Chief Executive Officer of Relendex Michael Lynn, said:
"FCA full authorisation marks a fantastic start to 2017 for the Relendex team and platform which will further encourage and facilitate investment in commercial property from both our UK and foreign investors. The appetite for P2P marketplace lending in the property sector continues to grow at an incredible rate with the advances in technology resulting in further market share being taken from the high street banks. Receiving full authorisation will further accelerate this growth and demonstrates that Relendex's robust operational infrastructure has met with the highest standards demanded by the FCA, bringing increased transparency and confidence to our customers."
(Photo: http://mma.prnewswire.com/media/482925/Relendex_Michael_Lynn.jpg )
Relendex, an early mover in security-backed commercial property lending for investors, specialises in innovative finance through its nimble P2P marketplace lending platform technology and ultimately improves accessibility of established and secure asset classes into the direct retail and institutional investor market. Their commercial approach and automated secondary market provides much needed liquidity to lenders. Relendex has sustained zero defaults on its loan book to date (http://www.relendex.com).
Reaching this important milestone in Relendex's real estate lending development with full FCA approval is testament to its commitment to support U.K. economic growth with fast and flexible financing options for Britain's commercial property businesses. Whilst providing creditworthy borrowers with access to much needed credit and at the same time providing investors attractive and secured returns that are delivered through Relendex's leading technology.
Obtaining ISA manager status on the back of this full FCA approval is the next step for Relendex allowing them to be one of the first movers in offering the Innovative Finance ISA to retail investors - the tax free wrapper and P2P investments that is forecast to propel the industry into the mainstream.
Notes to Editors
About Relendex
Since the launch of the platform in 2013, Relendex has provided funding for commercial real estate through their P2P online marketplace lending platform. They bring together many lenders; individuals, corporates and some small institutions. Using the latest technology with great functionality, they connect creditworthy borrowers to lenders to get the funding they need at a fair price. Relendex lenders' get the lion's share of the interest, usually between 7 and 10% a year.
Relendex Limited is fully authorised and regulated in the United Kingdom by the Financial Conduct Authority. Our permission number on the Financial Services Register is 723117.
SOURCE Relendex
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