LendInvest have now completed a £4.12 million loan – the largest in the history of peer-to-peer lending.
LendInvest are a p2p mortgage platform that lends to businesses secured against property. The milestone loan has been extended to a property developer to fund the acquisition of two adjoining commercial buildings in Croydon, South London. This developer turned to LendInvest after failing to secure financial backing via traditional means. The deal is set to boost the supply of affordable housing in London, as well as supporting the regeneration of the Croydon area. The flats will be priced between £200,000 and £250,000.
“This is a big moment for the bourgeoning p2p industry, which is increasingly becoming a credible mainstream asset class for investors, as well as a source of funding for SMEs.
“Investors will secure a great rate of return and London will also benefit from an increasing amount of affordable housing. This deal is a real shot in the arm for the British alternative finance sector, which is fast emerging as a world leader.”
LendInvest, which was incubated by Montello Bridging Finance, has access to substantial deal-flow and a proven track record of lending without losing investor’s money. They are the only p2p lender to focus specifically on residential and commercial mortgage lending. Since launching in May 2013, the platform has facilitated £25 million worth of loans. In that time the platform has paid lenders an average rate of return of 10.4%. The news of this landmark loan deepens our belief that LendInvest is a rising star in the p2p space.
The UK's oldest and best-loved conference for fintech and alternative finance insiders returns for its sixth iteration at etc.venues. We'll showcase the best of the UK's digital banking, online lending and digital wealth sectors through a series of uniquely in-depth discussions and presentations. Open Banking will be in full flight, just over a year on from its launch, and will be a central theme at the event.