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Peer2Peer Finance News | April 25, 2019

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Initiative Ireland enters UK P2P market with corporate accounts

Initiative Ireland enters UK P2P market with corporate accounts
Marc Shoffman

IRISH peer-to-peer property lender Initiative Ireland has entered the UK market.

It will offer corporate lending accounts that let companies back its development projects through a new subsidiary called Initiative Financial Services UK.

The minimum investment for companies will be €10,000 (£8,640) per loan.

The lender has also unveiled the Initiative Financial Senior Credit Property Sub-Fund I for institutional investors with a minimum of €100,000.

This is a five-year closed ended fund designed to finance the construction of residential social, affordable and mid-market housing across Ireland on a senior, secured basis.

Read more: Initiative Ireland appoints investment director

Read more: Property underpins Ireland’s P2P sector

The P2P lending proposition will only be available for companies at first but director Brian Ó’Nualláin said there were plans to open it up to private investors.

“Amidst the uncertainty of Brexit, many UK property investors may be looking to diversify into alternative markets and lower volatility assets, such as property backed loans but they lack the local knowledge to navigate those markets,” Ó’Nualláin said.

“Initiative Ireland’s corporate lending account and the fund offer clients access to a property-backed asset classes while being able to leverage a highly experienced and credible team.

“In time we hope to expand our offering to also introduce personal direct investment to the platform but for now outside of Ireland investment it is limited to companies exclusively.”

Read more: Initiative Ireland calls for support for housebuilding