Octopus Choice Approaching 50mn British Pounds in Loan Originations

Peer-to-peer platform Octopus Choice is estimating GBP50 million ($64.08 million) in loans in its first year of business; the platform offers loans secured on residential property with average returns of 4.2% and loan to value ratios of up to 70%; the firm’s loans have ranged from GBP95,000 ($121,744) to more than GBP5 million ($6.41 million); the firm has been fully authorized by the FCA and has received its HMRC approval to offer an IFISA. Source

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