Peer-to-Peer real estate lender Relendex has confirmed full authorisation from the Financial Conduct Authority (FCA). Law firm Howard Kennedy has advised Relendex on the process. The Howard Kennedy team was led by Daniel Tunkel, Partner and Head of Regulation, supported by Financial Regulation Associate David Gilinsky.
Daniel Galinksy said: “Peer-to-peer lenders have generally struggled to secure full FCA authorisation, thanks in part to an application process that the FCA has administered in a perhaps unnecessarily complex fashion. Many are even now operating under interim, or grandfather, permissions from the old days of the OFT. This is an important milestone for Relendex and a validation of its business model. We are delighted to have been part of this important development and Relendex’s ongoing success.”
“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 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 and – importantly – offering smaller retail lenders the chance for exposure to commercial real estate finance performance.”