Debt trading platform lists £5.7m of bridging loans in two weeks

The listings have come from bridging lenders, were valued between £254,000 and £1.7m and were comprised from a mixture of development, residential, commercial and land.

The Racefields Credit Exchange (RCX) launched last month with the aim of becoming the PayPal of the bridging loan industry.

RCX has reported that it expects a steady stream of product to hit the platform, including more bridging loans, P2P loans and other types of assignable debt.

“We are thrilled with the launch of RCX in the UK,” said David Gammond, chairman of Racefields (pictured above).

“We expect investors to see the benefits of funding professional lenders and, therefore, will use the platform to source debt securities for their investment portfolio.

“Using RCX, these investors can select a portfolio of loans across many lenders that better matches their investment criteria.

“They end up backing the loans they want.

“That makes a lot more sense than backing all the good or bad loans initiated by a single lender.”

RCX is aiming to attract investors based in the UK and China who are keen to invest in asset-backed securities in the UK.