ASSETZ Capital has reached £500m of lending on its peer-to-peer platform, with recent funding driven by development finance.
Lending has doubled in each of the last two years, with more than £200m lent in 2017 alone, Assetz Capital said.
Stuart Law, chief executive of Assetz Capital, said half of all lending was used to fund building projects, and with the majority of that being for housing.
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The firm has helped to finance more than 1,700 new homes in the UK so far.
“We have seen truly remarkable growth in the P2P sector,” Stuart Law, chief executive at Assetz Capital, said.
“Following the financial crash, the availability of bank loans to small to medium businesses has reduced significantly, from around £200bn down to around £165bn.
“P2P funding has been a real lifeline for growing businesses, by providing flexible, secured loans to help plug this gap alongside the rest of the alternative finance industry.”
Law said he expected to see renewed governmental focus on housebuilding across the UK and a rise in demand for development in city centres and prime commuter belts, helping boost the platform’s pipeline.
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