CrowdProperty homes reach £100m milestone
PEER-TO-PEER property lender CrowdProperty has funded its 600th property development, bringing the total value of its UK-wide property portfolio to £100m.
The milestones were reached following the completion of the 92nd project on the CrowdProperty platform. The company has now lent almost £40m to property developments in the UK, with more than £13m returned to investors to date, and no losses.
CrowdProperty‘s chief executive Mike Bristow said that reaching these landmarks was “just the start”.
“These landmarks are testament to the pains we are solving for both lenders and borrowers and also the wider need for housing supply in the UK,” Bristow said.
“Since 2014 we have relentlessly focused on solving these pains and have built deep expertise-led and tech-enabled robust systems and processes, disrupting the traditional property funding value chain to a unique extent. This means we can highly efficiently and highly effectively originate, match and secure the supply and demand of capital for quality property projects.”
Of the £100m gross development value funded, more than £62m has directly added to the value of UK housing stock, while more than £30m has been spent in development costs.
“These landmarks are just the start,” added Bristow. “We are growing a long-term, sustainable business at CrowdProperty. We proudly align to the very best operating practices, including award-winning transparency, election to the top table of the sector in the P2PFA and our commitment to be held to account for the performance of every loan we originate through complete openness to independent third-party verification by Brismo, the market leading provider of lending performance data.
“Our expertise-led, high quality lending and strongly secured positioning will ensure we continue to stand out in delivering a better deal to lenders and borrowers alike for many years to come.”