Manchester-based The House Crowd has surpassed £100m of capital invested through its platform.
The peer-to-peer lending platform allows people to invest in secured property loans.
“I’m overjoyed to pass the £100m milestone mark”, said Frazer Fearnhead, CEO of The House Crowd. “It shows that our investors have confidence in our mission to deliver reliable, consistent returns on property-backed investments – and it’s a sign of the progress we’ve made as a company over these last few years.”
The House Crowd has recently launched several new investment products. It has also begun development on several large projects across the North West, including The Downs – a £15m development in Altrincham – and the Chapel Walks conversion in Manchester.
The Downs and the Chapel Walks conversion have a combined Gross Development Value of over £20m. The target ROI for investors is 10% p.a.
“These developments highlight how far we’ve come in just a short time”, said Frazer Fearnhead. “They’re the kind of projects that show exactly why it’s so important that platforms like ours exist.
“It’s always been assumed that property investment has a high barrier to entry – but with peer-to-peer property lending, there’s ample opportunity for everyone to benefit from high returns with good security. The UK is in the midst of a housing crisis, and we are providing much-needed housing, whilst helping people to build their financial futures effectively.
“Our investors have shown that there’s a strong will to invest in the North West compared to London and the rest of the country.”