THE HOUSE Crowd is launching a new brand that allows people to invest small amounts into its peer-to-peer loans on a monthly basis.
The new product, called Money Mog, is targeting younger investors and offers annual returns of up to 5.5 per cent on P2P investments secured by UK property.
The deposit is just £100, with a minimum investment of £50 a month.
The interest rate starts at 3.5 per cent, with 0.5 per cent added for every investor referral, up to a maximum of four people, The House Crowd said.
“Money Mog allows you to invest in small amounts on a monthly basis and earn a higher rate of interest when you introduce your friends,” the firm said. “Created to tip the scales in the favour of young investors, Money Mog is the purrrfect way to invest in your future.”
The House Crowd started life offering bridging loans and expanded into the property development space last year. It announced last month that more than £100m has been invested via its platform and revealed that it is preparing to offer pension scheme-eligible investment opportunities.