LandLordInvest Milestones: Completes Biggest Loan Yet & Surpasses £1 Million in Lending

LandlordInvest, the peer-to-peer lending platform for residential and commercial mortgages, announced on Monday it has completed a £740,741 bridging loan secured over a residential investment property in Wembley, Middlesex for a professional landlord with a substantial real estate portfolio. This transaction is notably the online lender’s biggest loan yet and it was achieved only eight months after it became one of the first P2P lending platforms to obtain a full FCA authorisation and launched one of the first property-backed Innovative Finance ISAs (IFISA).

According to LandlordInvest, a total of 56 investors, including retail investors and pensions schemes (SSAS/SIPP), fully funded the loan within the four days through a crowdfunding process, with the average investment per investor being £13,227.5. Of the full loan amount, a total of £565,955 (76.4%) was reportedly contributed by Standard account holders, with £174,786 (23.6%) coming from IFISA account holders.

Filip Karadaghi, LandlordInvest’s Chief Executive stated:

“We are delighted to have completed the biggest loan yet on our lending platform. The borrower was in need to quickly refinance an existing loan, whilst arranging long-term financing with a high street lender, and it took less than a week for the loan to be funded and completed on our lending platform. It shows that P2P platforms, such as LandlordInvest, are becoming a viable alternative for professional landlords seeking financing in a quick, simple and efficient manner.”

LandlordInvest went on to add that this latest loan means that around £2.0 million of mortgages have been completed on LandlordInvest’s lending platform since December 2016. The news of LandlordInvest’s biggest investment comes just after the online lender surpassed its £1 million lending mark. 

Sponsored Links by DQ Promote

Send this to a friend