Mike Bristow

CrowdProperty funds development of 600 British homes

CrowdProperty has revealed that it has now funded the development of 600 British homes worth over £100m.

The P2P lender has now provided almost £40m of funding.

CrowdProperty has now paid back a total of more than £13m back to lenders.

It recently announced that it had secured £100m of capital backing from a financial institution and will deploy the funds in the next 12–24 months.

Mike Bristow, CEO at CrowdProperty (pictured above), said: “These landmarks are testament to the pains we are solving for both lenders and borrowers and also the wider need for housing supply in the UK. 

“Since 2014, we have relentlessly focused on solving these pains and have built deep expertise-led and tech-enabled robust systems and processes, disrupting the traditional property funding value chain to a unique extent. 

“This means we highly efficiently and highly effectively originate, match and secure the supply and demand of capital for quality property projects.”

He added that these landmarks were just the start. 

“In light of recent market developments, we believe it’s imperative to see increasing regulatory requirements coming into the P2P lending sector as it matures, furthering the UK's global leadership in this exciting sector.

“The spectrum of operating rigour will be forced to close, meaning many will need to significantly improve or exit, leaving the best practitioners to continue to shine on a global stage.”

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