Brismo onboards P2PFA member CrowdProperty

By George Geddes on Monday 10 December 2018

Alternative Lending

CrowdProperty is the first bridging lender to join Brismo’s platform.

Peer-to-peer lender CrowdProperty becomes the first bridging lender to disclose its performance using the methodology of Brismo, the analytics provider formerly known as AltFi Data.

Brismo works with loan originators, providing like for like comparable performance metrics to investors seeking to deploy capital. The newly onboarded CrowdProperty is a bridging lender which means it issues short-term interest-only loans for those in need of immediate capital for buying property.

Brismo recently added a series of property specific metrics to its methodology allowing the firm to expand its reach into real estate. CrowdProperty is the second property lender to join Brismo’s platform  after buy-to-let mortgage provider Landbay went live in October.

Perhaps more tellingly, both CrowdProperty and Landbay are members of the Peer-to-Peer Finance Association (P2PFA). The self-regulatory body was formed in 2011 to educate and inform the market about the possible risks of P2P lending. A number of existing P2PFA platforms deliver standardised measures of performance using Brismo and the addition of further members might suggest that the industry body continues to encourage self-regulation when it comes to improving the quality of disclosure.

The Financial Conduct Authority (FCA) unveiled proposed rule changes for P2P lenders at the end of July. These proposals included a call for improved transparency, enabling investors to compare both risk and return between platforms. Brismo has repeatedly argued that meaningful comparison is impossible without the adoption of consistent measures of performance.

Commenting on the announcement Mike Bristow, CEO and Co-Founder of CrowdProperty said in a statement: “At CrowdProperty we support the FCA’s recent call for consistent disclosure in the peer to peer lending sector. Independently verified performance metrics bring efficiency to the investment process, support our segment-leading disclosure standards, validate our 100% track record and strong returns performance, and underline our commitment to be held accountable for the performance of every loan that we originate.”

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