Despite the Covid-19 crisis, some peer-to-peer property lending platforms have thrived during this time, hitting several milestones.
From lending to repayment, here’s Peer2Peer Finance News’ top five milestones from property platforms so far this year.
Assetz Capital is not just the second P2P platform accredited to deliver the coronavirus business interruption loan scheme, but it is one of just two property lenders participating in the scheme – the other being OakNorth Bank.
This month the platform’s chief executive Stuart Law announced that the lender is working through a pipeline of “well over £300m” worth of development loans and commercial mortgage applications under the scheme.
At the end of October, P2P development lending platform CrowdProperty reached its £100m lending milestone.
Chief executive Mike Bristow highlighted the platform’s commitment to retail investors, as it targets £400m of annual lending by 2024.
This followed P2P commercial property lender Proplend hitting £100m in lending in September.
At the time the platform had funded £174m-worth of property and paid almost £10m of interest before fees and £45m of capital.
Back in February of this year, P2P bridging and development lender Kuflink hit its £75m investment milestone in cumulative lending since its launch in 2016.
More recently, this month the platform said that new investment has recovered to pre-Covid-19 levels, as the platform nears £95m in inflows. It currently stands at £93.18m.
Also in November, LandlordInvest surpassed its £10m lending milestone.
The platform revealed it has lent £10.1m across 55 bridging and buy-to-let loans at an average loan-to-value of 65.4 per cent without obtaining any capital losses.
Other notable mentions
More recently, in October prime property lender CapitalRise surpassed its £30m repayment milestone by paying more than £32m to investors since its 2016 launch.