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March 25 2020

The House Crowd investors warned projects may be delayed by coronavirus

Marc Shoffman Industry News, News, Top 3 Carl Davies, coronavirus, property, The House Crowd

The House Crowd has urged investors to avoid “losing their heads” as the coronavirus pandemic plays havoc with market confidence.

Carl Davies, chief operating officer for the peer-to-peer lender, said some of its developments will be delayed but highlighted that money from loans is regularly coming in, with £618,000 of investor capital and interest repaid on a loan this week.

Davies highlighted that loans are secured on properties and projects to help protect investments.

Read more: Coronavirus could lead to platform closures

Read more: Analyst warns coronavirus will test P2P lenders

“History tells us that investors reach their goals if they remain invested, even if they invest shortly before a fall,” he said in a note to investors.

“At The House Crowd we believe you should look positively to the future and avoid magnifying the importance of short-term stock market falls.

“If this situation passes as quickly as the government and scientists predict, the underlying economy will bounce back strongly and swiftly.

“Demand for affordable housing, in which you are invested, will still exceed supply in economically vibrant geographies, reinforcing the viability of these projects.

“Inevitably some of our developments will be delayed until we are able to get contractors back on site, but these developments will be finished, will sell and investor’s money will be returned.”

Read more: How are P2P lenders responding to the coronavirus pandemic?

Davies added that this was an opportunity for people to take stock of their finances.

“When all around us are losing their heads, stay calm, evaluate and make informed not irrational decisions,” he added.

Linked Finance launches loan for businesses affected by Covid-19 Funding Circle tightens lending to mitigate Covid-19 economic uncertainty

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