Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
Michael Bristow W Medium Square
September 6 2018

CrowdProperty doubles lending as loanbook hits £20m

Marc Shoffman Industry News, News Crowdproperty, Innovative Finance Isa, Mike Bristow, p2p, property

CROWDPROPERTY’S loanbook has passed the £20m milestone, doubling its lending since raising almost £1m through crowdfunding to expand the business last year.

The peer-to-peer property lender funded its 47th project this week, taking its loanbook to £20.56m, backing the development of 307 homse.

Across 23 projects, £9.17m has neen returned, including £791,000 of interest.

Of the 24 active loans, none are overdue.

CrowdProperty launched in 2014 but raised £907,467 via Seedrs in November 2017 to expand its proposition.

“Fundamentally, we are solving major pains being experienced on both sides of our marketplace,” Mike Bristow (pictured), chief executive of CrowdProperty, said.

“On the one hand, property professionals are receiving appalling service from traditional funding providers, especially in terms of ease, speed, expertise and access to decision makers, all of which are pivotal to our proposition.

“On the other hand the general public are mostly getting sub-inflation returns on their savings.”

Read more: CrowdProperty appoints Mike Bristow as CEO

He said the platform could offer high returns of around eight per cent due to its low structural costs.

“We don’t have the high cost bases of traditional lenders, which include, for instance, their branch networks, origination costs and legacy IT systems and if we introduce interest rate changes, it is always applied to both sides of the marketplace,” Bristow added.

“We attract high quality funding applications giving our lenders an excellent range of opportunities on first charge secured returns.

“The CrowdProperty Innovative Finance ISA then adds a tax-free cherry on top of the cake.”

Read more: Want to invest in property? Then take a look at these peer-to-peer platforms

Landlords split over future of traditional buy-to-let P2PFA members confirm plans for loanbook data

Related Posts

magnifier

Industry News, News, Top 3

Trade association calls for more FCA scrutiny

FOLK2FOLK - Roy Warren MD - head crop (col)

Industry News, News, Top 3

Folk2Folk eyes £100m from institutions as it expands nationally

the acronym fca for Financial Conduct Authority concept represented by wooden letter tiles

Industry News, News, Top 3

FCA to publish initial supervisory work on consumer credit guidance

Popular posts:

  • Chancellor unveils recovery loan scheme
  • Budget outlines plans for £15bn of green bonds in 2021
  • FCA warns The House Crowd investors against using…
  • Government to launch replacement future fund scheme
  • BBB sets out further details on recovery loan scheme
  • Cyan Finance launches IFISA to help investors go green
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by