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Peer2Peer Finance News | July 24, 2019

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The House Crowd hits £100m milestone

The House Crowd hits £100m milestone
Suzie Neuwirth

THE HOUSE Crowd has announced that more than £100m has been channelled into its platform, as it prepares to offer pension scheme-eligible investment opportunities.

It has been a busy year for the peer-to-peer property lender, which launched its Innovative Finance ISA in March 2018 and an auto-invest product in November of that year.

The platform said on Wednesday that it will be able to offer small self-administered scheme (SSAS) and self-invested personal pension (SIPP) investments in its developments from April 2019.

“I’m overjoyed to pass the £100m milestone mark”, said Frazer Fearnhead, chief executive of The House Crowd. “It shows that our investors have confidence in our mission to deliver reliable, consistent returns on property backed investments – and it’s a sign of the progress we’ve made as a company over these last few years.

Read more: The House Crowd lowers minimum investment for ISA transfers

“It’s always been assumed that property investment has a high barrier to entry – but with P2P property lending, there’s ample opportunity for everyone to benefit from high returns with good security. The UK is in the midst of a housing crisis, and we are providing much needed housing, whilst helping people to build their financial futures effectively.”

The House Crowd started life offering bridging loans and expanded into the property development space last year. The House Crowd already had its own development arm, known as House Crowd Developments, which has been responsible for a number of high-spec housing projects within the North West.