P2P Money Blog

The peer-to-peer company Be The Lender has suspended trading.  A message has been posted on their website as follows:

Dear All,

Be The Lender has currently suspended trading.

If you have received repayment notification emails, then there may be a balance owing to you.  Please login to your account to see your dashboard and withdraw any available balance.

This is unfortunate for all concerned.  If Be The Lender were to cease trading, this would be the first company to do so since the FCA regulations were enacted in April.  It would remain to be seen if the company's contingency fund - a requirement of the new FCA regulations - would be sufficient to wind down the company and return lenders' funds.  We will certainly monitor the situation.