Launceston-based Peer-to-Peer lender (P2P), Folk2Folk, has announced plans to team up with the legal profession with its launch of a national Legal Panel.

The creation of a national Legal Panel will enable Folk2Folk to expand nationally while maintaining its “traditional values and local focus” through a network of local law firms.

Panel law firms will carry out the legal work necessary to complete loans in their locality and provide Folk2Folk with local knowledge as part of the security process.

Folk2Folk’s CEO, Jane Dumeresque, explained: “Local lawyers are a crucial part of the effective workings of Folk2Folk’s business model.

“As we expand nationally, we are committed to maintaining our unique local focus.  Local community knowledge and expertise is paramount to the success we have seen so far throughout the south west and we are looking forward to teaming up with local law firms to continue that success across the country.”