LandlordInvest plots crowdfunding round to boost platform
LANDLORDINVEST is planning a crowdfunding round to raise money to scale up its operations.
The peer-to-peer property lender is set to unveil a listing on Crowdcube for the public to back the platform.
Last year the platform received an undisclosed amount of seed funding from London property investor Alan Gabbay, director of property investment firm O&H Properties.
O&H Properties currently runs a £1bn property portfolio in London.
It has been a busy period for LandlordInvest.
The platform recently amended its terms and conditions to let a borrower extend a loan rather than refinancing it.
The new clause gives the P2P property platform the ability to extend a loan facility agreement at its own discretion where it is believed to be in the best interest of the investor and borrower.
A lender will have to also agree to the extension.
Read more: LandlordInvest hits £5m lending milestone
The platform has also made a number of changes to the way its secondary market works.
Lenders will now be unable to list a loan on the secondary market if it is in arrears or has just one payment remaining.
Another new clause lets the platform suspend a loan from the secondary market if it becomes aware of information that could “significantly impact” a lender’s decision to purchase it.
LandlordInvest’s loanbook is currently at just over £5m.