Property investment platform Crowd With Us has completed its first deal under a new lending model, after it lost its status as an appointed representative of ShareIn.
The deal – for a property on Thornton Heath – was fully funded within 48 hours.
Prior to 26 June 2020, Crowd With Us operated as an appointed representative of ShareIn, but this relationship came to an end for undisclosed reasons.
Crowd With Us has sought legal advice on the move, and acted quickly to move its finance-raising operation to a new model so that it could exist lawfully outside regulation.
“We are very pleased to have completed a first deal under the new structure and the very positive response we’ve seen from both lenders and property developers,” said Rob Wilkinson, co-founder of Crowd With Us.
“Neither group will really see much change in how we do business, and we will continue to operate in a broadly similar manner as before – providing developers with short-term, secured finance and outstanding opportunities to our investors, and continue to focus on offering great service and transparency to all of our customers.
“If anything, the new model will allow us to be more efficient and we are confident that the new model will bring some new opportunities and longer-term benefits to our customers.”
The platform added that existing investors will still be able to access all of their previous investments and Crowd with Us will continue to oversee all the property investments previously funded on the platform.