LANDLORDINVEST has almost doubled the size of its loanbook in the first five months of 2018, the platform’s latest data shows.
The peer-to-peer buy-to-let lender has released its latest loanbook statistics, for the period between the start of January and the beginning of May.
It showed that investors have funded £4.4m of loans, which is up from the £2.7m revealed in December 2017.
The average loan size is £202,589, with an average loan-to-value of 64.6 per cent.
Investors are also receiving average interest rates of 12.9 per cent, the loanbook showed.
The largest loan amounted to £740,741 for a £950,000 semi-detached house in London, paying an interest rate of 9.5 per cent.
In contrast, another landlord in Warwickshire has borrowed £66,133 for a £420,000 bungalow, offering investor interest at 19.2 per cent.
The platform will have been boosted by its Innovative Finance ISA (IFISA).
It raised more than £2m in subscriptions for its IFISA in the last tax year.
The company opened 121 new IFISA accounts in the 2017-18 tax year with total subscriptions reaching £1.65m, alongside £536,404 of ISA transfers.
This was more than double the 68 accounts opened in the 2016-17 tax year and was a substantial 292.5 per cent increase on the £419,385 of subscriptions made in the first year of the IFISA.