CrowdProperty to release more ‘quality loans’ to meet investor demand
CrowdProperty has more than £200m of projects either approved or undergoing due diligence as investor demand continues to outpace the number of live opportunities on the platform.
The peer-to-peer property lender has had a note on the investment page of its website for around six months that informs new and existing investors that the platform is experiencing “extremely high demand” and it may take longer to deploy funds.
Mike Bristow (pictured), chief executive of CrowdProperty, said this underlines the attraction and success of the platform’s lending record and also means investors are diversifying across more loans due to limits on how much can be placed in each project.
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Bristow told Peer2Peer Finance News that some of the demand will be satiated with £65m worth of projects that have been approved by CrowdProperty’s investment committee.
Another £156m is also undergoing detailed due diligence while another £347m is at the early stages of the loan pipeline.
“We get around £270m of applications for funding per month,” Bristow said.
“The pipeline is looking very strong and is ever-growing.
“There are a lot of investors joining and we want to enable as many people as we can to invest but the reality is we are tight in what we can approve and list.
“That has given us our perfect lending track record.
“Our duty is to find more projects of the quality we are willing to accept, that will never change.
“In the short to medium term we expect there will still be more investor demand.”
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