THE HOUSE Crowd has entered the property development space, offering investors double-digit returns.
The peer-to-peer property platform is now offering loans of between £500,000 and £5m to development firms in the North West of England.
Loans can be taken for a maximum of 24 months with interest rates starting from eight per cent.
Investors can back the loans with a minimum of £1,000 and earn 10 per cent a year.
The House Crowd already has its development arm, known as House Crowd Developments, which has been responsible for a number of high-spec housing projects within the region, the platform said.
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“We are excited to help like-minded property developers across the north west realise their ambitious projects, and to connect would-be investors with opportunities to earn reliable returns,” Charlotte Hall, business development manager at The House Crowd, said.
“Both developers and investors also benefit from helping, in a small way, to solve a very important and persistent problem: the lack of high-quality, affordable housing in the UK.”
“We will continue to expand our range of solutions for both borrowers and investors. While crowdfunding has always been at the heart of our business, we are now also rapidly growing our P2P lending capabilities, to help open up new ways for people invest in property development.”
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