CrowdProperty passes £50,000,000 lent, funding the development of over £120,000,000 of property and 700 homes.
We’re delighted to announce that CrowdProperty has surpassed £50,000,000 lent after funding our 121st loan today in a record month of nearly £5,000,000 of lending. We’ve now funded the development of over £120,000,000 of property and 700 homes, enabling over £40m of spend on labour, materials and services in the UK economy whilst retaining our 100% capital and interest payback track record through 5 years of lending, paying back over £18m to date.
This news comes shortly after two market-first launches of dedicated funding products for Modern Methods of Construction and Development Joint Ventures, demonstrating that with market-leading authority and decades of hands-on property expertise in exactly the types of projects being lent towards, CrowdProperty is right on the pulse of the sector and continues to bring well structured, risk-managed funding solutions to market. Funding any property type, construction method, tenure type or deal structure across the full suite of short-term property project finance, CrowdProperty is unlocking much-needed housing supply and spend in the UK economy through enabling SME property professionals to deliver quality property projects.
Mike Bristow, CEO of CrowdProperty, commented: “These milestones validate the power of the CrowdProperty solution in solving the fundamental pains evident in the sector for both lenders and borrowers, as well as the wider 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. 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 £1.7bn of funding applications per year.
CrowdProperty projects have been funding in a matter of minutes - if not seconds - of late, due to the 100% capital and interest payback track record and trusted brand we have built over 5 years of quality lending supported by deep property expertise, rigorous due diligence, first charge security, best-in-class operating practices and market-leading transparency. 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.’”