CrowdProperty Has Supported £600 Million of Funding Following “Record Month”

Real estate crowdfunding platform CrowdProperty says it has topped £600 million in property projects, after a “record-breaking” September. During the month, CrowdProperty lent £14.3 million to enable the construction of residential property developments by small and medium-sized developers across the UK. When comparing the same quarter in 2021, Q3 improved by 93%.

CrowdProperty reports that it has now supported the construction of a total of over 2,700 homes with £330 million of facilities while lending more than £260 million to date. The platform estimates that their activity has supported over £250 million of economic activity as funding has been spent on labour, materials and services in the UK economy.

The investment platform allows individual investors to participate in loans originated online. Currently, CrowdProperty reports that investors may generate up to an 8% return with all loans secured by a registered legal charge against property in the UK. Most loans are for about one year. Since inception, CrowdProperty does not indicate any capital losses on the financing.

CrowdProperty CEO Mike Bristow commented on the report:

“I’m incredibly proud of the team for the effort and determination that has gone into achieving our latest milestones: Q3 2022 has seen fantastic, record-setting performance from the business as a whole, in terms of both lending and new facilities started on both volume and value bases. We’ve originated more than £130m in the last 12 months – and our conversion-weighted pipeline is now double what it was this time last year, as we continue to reliably support our customers to build more homes through diverse capital sources and deep property expertise. Together we build.”

Sponsored
Sponsored Links by DQ Promote

 

 

Send this to a friend