We’ve updated our terms to reflect the recent changes to our investor product. Specifically, we have made these changes to reflect:
- the FCA’s new rules for peer-to-peer platforms which come into effect on 9th December 2019. Under these new rules, peer-to-peer platforms must ask their new investors to select an investor profile and complete an appropriateness assessment before they can invest on the platform;
- the implementation of our new selling tool which changes how loan parts are sold on the secondary market;
- the introduction of a 1.25% transfer payment which is applied automatically to all loan part sales to another investor on the secondary market, to the benefit of the buyers of those loan parts; and
- other smaller changes which do not have an impact on our investor product offering. We have also made some small, related changes to the Loan Conditions.
The full Terms and Conditions can be found at: https://www.fundingcircle.com/uk/legal/investor-terms-and-conditions/