Following the announcement that affordable housing developer Pocket has decided to extend its second mini bond on Crowdcube, the company not only celebrated that the initiative hit £1 million, it has also revealed that it is making a few changes to the bond as well.
As previously reported, Pocket aims to raise the funds as part of it helping even more middle-income Londoners get their foot on the housing ladder. The launch of the bonds comes on the heels of Government’s Help to Buy ISA launch, and the announcement of increased support for the intermediate housing market in London with the London Help to Buy scheme.
During a recent update, Pocket shared:
“We made changes to the bond following feedback from an investor event and this news gives us confidence that we did the right thing. The crowd told us they were looking for a punchier return, so we hiked the interest rate to 10% – and clearly this is an attractive offer. The reaction from the crowd has been overwhelmingly positive, and we are thrilled to welcome a number of new investors to Pocket. The bond still has 40 days to run, but we’re getting close to our target so we may reach our goal before the bond runs its course.
“If you’re still unsure about whether this is the right investment for you, do have a look through our forum questions. And if you have any other questions, feel free to ask via the forum – we aim to respond within 24 hours, and we welcome questions – our business can seem complicated, and being asked tricky questions helps us to become ever-clearer about our story.”
The campaign has so far secured over £1,250,000 with nearly a month and a half left to go.
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