CrowdProperty has only approved 2.7 per cent of applications for property finance made to the peer-to-peer lending platform - Peer-2-Peer Finance News, 5 February 2020: https://www.express.co.uk/life-style/property/1230609/house-prices-uk-rightmove-sale-index-news-latest

Chief executive Mike Bristow said the Birmingham-based firm has considered around £2.2bn of deals but only lent around £60m.

He said having such a large sample under consideration provides more data to learn, compare and contrast in order to make “superior decisions”.

Bristow said this makes using a professional to source properties better than doing it yourself.

“You need a brand that attracts strong deal flow,” he wrote in a LinkedIn post.

“That is what we have done uniquely – building a direct-to-developer brand that attracts billions of pounds of applications.

“We’ve seen £2bn of applications and funded just under £60m.

“That’s selective, plus we’re currently reviewing over £150m per month of directly originated applications, giving us more and more data every month to ensure that we are selecting the very best projects for the platform.

“This creates a virtuous circle, as a bigger universe of projects from which to originate provides more data to base our selection decisions on, which therefore have a higher probability of success.

“CrowdProperty consequently has a 100% capital and interest payback track record. That, in turn, means that more people want to bring us their projects. And so it goes – onwards and upwards.”


05 Feb 2020

Previous Post Next Post

TrustPilot 5 star rating
4thWay Excellent
BrickFunding
Cyber Essentials Security
Property Awards
Property Awards
AltFi
Growth Finance
Birmingham Post
Money Net Awards
spacer
P2P Finance News
Bridging and Commercial
UKBAA
Money Age
Money Age
spacer
UK CrowdFunding
peer2peer Finance Association
ECN Gold Member
Brismo Verified
spacer
UKPropTech Association
Trusted Land
Qandor
spacer
As featured in...
financial times
the times
City AM
Daily Mail
FT Weekend
The Sunday Times
Which?
Investors Cronicle
The is money
Business Life
Die welt
Forbes
Property Week
EG
Development Finane Today
Property Investors News
YPN
Property TV
Peer2Peer Finance News
altfi
PlaceTech
UKTN
Angel News
University of Cambridge - Judge Business School