It has been well reported in industry press that economic conditions have been tough for developers, with interest rates increasing and demand for housebuilding weakening.
In spite of this, CrowdProperty continues to reliably support determined, quality property developers with their quality projects. The business has now funded 3,000 homes worth £680m, growing new facilities agreed by 55% in the last 12 months (and 76% excluding Q4 2022).
As a specialist property development finance lender, CrowdProperty is focused on supporting developers pursuing projects with a high likelihood of success – drawing on significant in-house property expertise and a strong network of sector partnerships to find, assess and fund projects. Key to this approach is providing quick decisions which enable developers to secure projects with speed or quickly cut projects which do not stack financially.
Finance is cited as a the single biggest barrier for small and medium sized developers to build more homes, often due to a lack of understanding of the specifics of property development among lenders. With over 400 projects completed to date, and 12,000 reviewed, CrowdProperty is well placed to guide developers in building their portfolios and growing their businesses.
Mike Bristow, CEO of CrowdProperty, commented: “With 43% of our lending with developers who have borrowed more than once, we can be certain that our proposition solves fundamental pains in the market and are we are rapidly scaling to help more developers realise their business goals. We continue to innovate our product offering to meet the changing needs of our clients and intermediary partners, whilst also delivering strong returns to our diverse and reliable sources of capital.”