The UK peer-to-peer (P2P) lending market witnessed “rapid” growth in 2023 and is set to continue into 2024, according to an update from Sourced Capital.
Although the market is growing according to reports from certain industry participants, there are many platforms/firms that have exited the P2P sectors.
Despite this, Sourced Capital says it has harnessed their expertise in order to help clients “make informed investment decisions.”
Their Lender’s guide is said to be a testament to this, offering deep insights into Sourced Capital and their processes. Sourced Capital also claims they have a proven track record in P2P investments and they’re an FCA regulated platform. The firm says they provide comprehensive support and guidance via their investor team.
Last month, the firm had announced that Holdenby Close in Retford was set to launch Wednesday 27th December via the Sourced Capital platform.
The Project Overview:
The borrower requests funding to “assist with the purchase and renovation of a mid-terrace property in Retford. Once purchased, the borrower will undertake a full renovation, bringing the property to a modern standard.”
Following completion of the scheduled renovation, the property will “be presented to the market and sold.”
Investment Details
- Total Loan Amount: £87,000
- Gross Development Value (GDV): £132,000
- Loan To GDV (LTGDV): 65.9%
- Loan Term: 9 Months
- Investors Can Earn: Up to 12% pa
As covered recently, UK’s Sourced Capital recently noted that 2023 has been a great year for them.
Sourced Capital says they have had an “outstanding” year to date as indicated by their latest statistics, “raising £11.8 million for projects and repaying nearly £4 million in interest to our investors.”
Sourced Capital has shared some of their highlights:
In February of this year, Sourced Capital reportedly funded Taunton, “with a total loan amount of £5,055,000. The former office building will be converted to provide 55 x self-contained apartments, comprising of 42 x 1-bedroom & 13 x 2-bedroom.”
Works are well underway with this project and they “look forward to updating clients soon.”
High Demand Projects
In just 24 hours, Sourced Capital investors “raised a total of £405,000 to assist with the refurbishment of Golden Cross Lane.”
They also hosted a number of webinars. As noted by Sourced Capital, these webinars were hosted to help “educate investors on how they can build their wealth and transform their financial future through peer-to-peer lending.”
As covered, Sourced Capital claims it is “a leading innovator in property-backed, peer-to-peer lending, operating with a unique business model.”
The Sourced Group includes “a franchised network of over 200 property sector professionals.”
This established network of specialists exclusively fuels “the Sourced Capital P2P Platform with hand-picked investment opportunities.”