Peer to peer property lender, CrowdProperty say they have now repaid over £10,000,000 to lenders. The online lender reports they continue to hold a 100% capital and interest payback track record.
According to CrowdProperty CEO, Mike Bristow, the £10,088,967 paid back includes £9,221,876 capital and £867,091 interest. The returns have been generated from the financing of 423 UK homes. In total, CrowdProperty has lent just shy of £24 million.
While the number may seem small in comparison to the overall UK property market, it is better to have a platform that selects quality over quantity. Maintaining a 100% payback record is impressive as it is typical to see defaults in the property lending sector. CrowdProperty investments also include a “1st legal charge” which provides added protection. This gives CrowdProperty the legal right to take ownership of a property in the event that a property defaults on their loan repayments. CrowdProperty states they “have 1st legal charge on every project listed on our platform. This is an essential, non-negotiable criterion to ensure your funds are safe.”
CrowdProperty states they have a “very strong project pipeline for the remainder of 2018 and beyond.”
“‘We have always had a single-minded focus on being brilliant at efficiently matching and securing capital in the property development sector, providing a better deal for both property professionals and lenders. We have built robust systems and processes over many years and continue to develop the business for this sole purpose, forever building stronger and deeper expertise. This focus is paying off with our 100% track record and a pipeline of quality projects for our growing lender base that has never been stronger,” stated Bristow.