Chinese peer-to-peer lenders are venturing into mortgage loans in an effort to draw mainstream investors into an industry previously viewed as the domain of speculators and hucksters.
Several P2P platforms run by brand-name internet companies have partnered with real estate developers and other financial institutions to offer loans, helping homebuyers meet the 30 per cent downpayment required to obtain a commercial bank mortgage.
Even as scores of P2P companies have gone bust this year, the industry is booming, with loans poised to reach Rmb100bn ($16.3bn) by the year-end, up from Rmb5.6bn at the end of 2012, according to Online Lending House, a web portal that tracks the industry.
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