CrowdProperty (www.crowdproperty.com) is proud to announce a hat-trick of records in the month May. The business lent a total of £8,320,000, paid back a total of £7,520,000 and received a total of £285,000,000 of funding applications from SME property professionals in May, all of which are CrowdProperty monthly records.
CrowdProperty, the UK's leading specialist property project lending platform, has now funded the development of 1,438 homes worth over £270,000,000, originating over £160,000,000 of agreed facilities, lending £133,000,000, and unlocking over £120,000,000 of spend on labour, materials and services in the UK economy.
With perfect reliability of funding for property developers throughout Covid-19, CrowdProperty’s unique ‘Property Finance by Property People’ proposition and reputation as the best specialist property development lender in the market solidified, further step changing the volume of property project funding applications to cater for extremely high lending capital liquidity.
This news follows the announcement that CrowdProperty launched in Australia in May, to offer a non-bank lending alternative to the SME property development market there, which faces very similar pains to those being solved by CrowdProperty in the UK (although these records are solely related to the UK business).
Mike Bristow, CEO of CrowdProperty, commented:“These three records say a huge amount about the ongoing market-leading track record, current momentum of market traction and the future growth prospects for CrowdProperty. This will be very welcome news to our diverse sources of capital seeking more of the high-quality lending opportunities that CrowdProperty is known for. Investor liquidity is higher than ever due to the deep property expertise, high quality origination, 100% capital and interest payback track record and trusted brand built since 2014, attracting more and more institutional sources of capital looking to work with the most proven, highest quality players with deepest asset class expertise.
“We have built a very strong pipeline that currently stands at over £300m of progressed quality lending opportunities, putting us firmly on track to provide £400m+ of lending p.a. by 2024, underpinned by a highly scalable, in-house built, proprietary technology platform, scalable capital sources and deep expertise in exactly the asset class being lent against.
“At the heart of the achievements to date is a passionate team of 42 with a great culture and a shared cause to solve pains on both sides of the CrowdProperty marketplace. This is just the start of our mission to fully unlock the power of SME property developers in this country to build more homes and increase spend in the UK economy, and to ever more efficiently and effectively match the supply and demand of capital for the benefit of all."