The platform raised £50m in the last 100 days for property projects throughout the UK.
The platform raised £50m in the last 100 days for property projects throughout the UK.
As bank lending slows down, peer-to-peer investment is up. Lendy, a P2P property platform, has invested over £300m in the real estate market, with £50m raised in the last 100 days, the company announced Tuesday.
The firm’s 16,000 users have invested in a variety of bridging and property development projects, including commercial property, residential projects, and farmland.
The company says interest in its product is due to its quick turnaround and ability to fund a variety of projects. Some of its recent investments include the purchase and redevelopment of a commercial building in Marylebone, central London and the development of a major student accommodation complex in Huddersfield.
“We have developed a reputation for being able to do deals that other sources of finance can’t – and to get them done fast,” said Liam Brooke, co-founder of Lendy. “Our users’ ability to fund deals of £10m-plus means that property investors and developers can get the finance they need much faster than they could through a bank.”
The platform has also doubled the number of its investors in the last year, due to a loan-to-value ratio of a maximum of 70 per cent, and a 12 per cent annum return. Its investors have earned £23m in interest since the company was founded in 2012.
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