Peer to peer property lender, CrowdProperty, is reporting that it has now lent more than £50 million after closing on the 121st loan today during a “record month” of lending £5 million.
CrowdProperty says it has supported the development of over £120 million of property and 700 homes, enabling over £40 million being driven into the UK economy.
Of note, CrowdProperty states that it has a 100% capital and interest payback track record through 5 years of lending, paying back over £18 million to date.
Mike Bristow, CEO of CrowdProperty, said these milestones are indicative of his platform solving fundamental pain points for both lenders and borrowers – as well as the UK housing market:
“Property professionals come to CrowdProperty not because it’s a peer-to-peer lender but because we’re building the best property project lending business in the market to service their needs best – as expert property people offering property finance,” said Bristow. “The business is underpinned by technology for speed and efficiency as well as deep expertise for effectiveness, becoming the lender of first resort for quality property projects being undertaken by quality property professionals, curated from £1.7 billion of funding applications per year.”
Bristow explains that CrowdProperty projects have been funding in a matter of minutes. The performance of the platform is due in part to the 100% capital and interest payback track record:
“We have a strong pipeline of projects ahead, all meeting our specialist property team’s exacting standards – which have only ever tightened through 5 years of lending and seeing a material proportion of the market apply for finance from CrowdProperty. As Neil Faulkner, co-founder and chief executive of 4th Way, a leading independent peer-to-peer lending market commentator, said: ‘The key people at CrowdProperty have clearly demonstrated the talent and deep experience needed to properly assess complex development projects, monitor them, keep them on track, and take steps when things go wrong. I believe they are fanatical about maintaining quality.'”