P2P platform Saving Stream expands with three senior appointments

Saving Stream, the peer-to-peer (“P2P”) lending platform, is pleased to announce the hiring of three new senior positions as it gears up for the next stage of its development. These are:

• Mark Whitburn, Head of Credit
• Robert Easterbrook, Head of Compliance
• Paul Riddell, Head of Marketing and Communications

Mark Whitburn joins as Head of Credit with over 35 years’ experience in the banking industry having been previously employed by HSBC Bank plc. Mark spent the last eight years as a specialist in Real Estate finance, following a number of roles including Group Audit Manager and Branch Manager. Mark is responsible for identifying and mitigating the risks of borrowing proposals and requests, and for monitoring credit policy procedures and processes.

Mark is an Associate of the Chartered Institute of Banks (ACIB), having qualified in 1987.

Robert Easterbrook joins as Head of Compliance, ensuring Saving Stream abides by the more stringent regulations the FCA is looking to bring in. Robert has specialised in Compliance and Investment Accounting within the financial services industry for over 30 years, bringing experience of working at major institutions including Citi and Aviva.

Robert is a Fellow of the Chartered Association of Certified Accountants (FCCA), a Member of the Chartered Institute for Securities & Investment (MCSI), and also holds the Certificate for Financial Advisers (CeFA).

Paul Riddell joins Saving Stream from AXA UK, where he was Head of Strategic Communications, managing brand and public relations for its wealth management arm. Prior to AXA UK, Paul has experience with major financial services businesses such as Sun Life Financial and Winterthur Group, part of Credit Suisse. As Head of Marketing and Communications, Paul is responsible for building the brand and enhancing the reputation of Saving Stream, taking ownership of its growth and brand evolution strategy.

Paul holds the Dip HE (Management) from The University of Reading, the DIP.PR (CAM) from the University of the Arts (UAL), and is a member of the Chartered Institute of Public Relations (CIPR).

Liam Brooke, Co-Founder of Saving Stream, says: “Mark’s experience in real estate investment brings obvious benefits to Saving Stream and its current and prospective clients, and will reinforce our industry leading credit and risk functions.”

“FCA approval is a target in the short to medium term for Saving Stream, and Robert’s expertise will be a vital asset in helping us achieving this goal. Gaining his experience with major institutions like HSBC and Citi is a major coup for us.”

“Paul is a fantastic addition to the Saving Stream team, and brings many years of knowledge gained within the financial services sector, which will be vital as we look to continue to grow. We have just broken £250m in total lending from over 13,000 members of our platform, and Paul’s expert influence will ensure we keep hitting those milestones.”

“These three appointments signal an exciting time for Saving Stream as we look to expand – and improve – our product.”

Saving Stream has also recently appointed:

• Head of Legal – Mehar Patel
• Development Finance Director – Alan Darling
• Business Development Managers – Harry Hodell, Sam Cousins, David Garbett
• Financial Controller – Neil Hockenhull
• Investment Director – Katharine Manderfield

ENDS

Notes to editors

Alternative finance providers, such as P2P and other crowdfunding platforms, are increasingly stepping into the gap created by banks’ withdrawal. They are giving developers the opportunity to get their projects off the ground in a sensible timeframe.

Peer-to-peer lending is beneficial for investors, as well as developers, and people are increasingly turning to peer-to-peer in order to a better yield from their investments in the current low interest rate environment.

For example, the average cash ISA at a bank now only offers annual returns of 0.74% (Bank of England). This level is extremely low and it is no surprise that people are looking for a better option.

The outlook for the property market is good. Despite banks withdrawal for lending, it is important that developers realise that there are other options available to them. P2P lending allows important development projects to go ahead, and is beneficial to individual investors.

About Saving Stream

Saving Stream is one of Europe’s largest P2P secured lenders, providing property finance and development loans. Since it was founded in 2012, it has grown to over 13,000 individual users. Investors on the Savings Stream platform have enjoyed an annual return of up to 12% and earned a total of £17.3 million. Since 2012 more than £250 million of funds has been provided for property investments.

All loans made through Saving Stream’s platform are secured by legal charge over UK property and loan amounts never exceed 70% of the properties’ Open Market Valuations undertaken by independent valuers; however, investor’s capital is at risk should a borrower default. Funds lent through a peer-to-peer website are not covered by the Financial Services Compensation Scheme (FSCS), although Saving Stream maintains a substantial discretionary provision fund to assist in making up any recovery shortfalls.

Whilst no Saving Stream investor has been subject to any loss of capital, past performance is not a guarantee of future performance. Please obtain independent advice if you are in any doubt as to whether this platform is suitable for you or if you require tax advice. Please see our full risk assessment. Unallocated investor funds are held in a segregated client money bank account.

Saving Stream is a trading name of Lendy Ltd, a company registered in England and Wales under number 8244913 with its registered office and principal place of business at Brankesmere House, Queens Crescent, Southsea PO5 3HT. Lendy Ltd is authorised and regulated by the Financial Conduct Authority (FCA), number 654326, and is registered with the Information Commissioner’s Office (ICO), number Z3404040.