Arya Taware

FutureBricks aims to build £100m loan book and expand into Germany

FutureBricks is aiming to achieve a loan book of £100m over the next two-and-a-half years and expand its operations into Germany.

The P2P lending platform went live last year and has already deployed almost £1m in funding for eight different projects.

FutureBricks currently offers three types of loans: site acquisition, development and short-term bridging.

In an exclusive interview with Development Finance Today, Arya Taware, CEO at FutureBricks (pictured above), explained that Germany had a “similar market” in which the country’s SME housebuilders faced the same problems as their UK counterparts.

On the subject of whether there are currently enough funding options for UK SME housebuilders, Arya said: “I think options are there, but it's about the quality of the options.

“[Banks don’t usually] lend towards site acquisition and even if they do, they'll take three-and-a-half months to deploy the capital — this is not how the real estate industry works.

“Every deal has its own timeline and pace, so I think that banks are just becoming an inefficient source of development finance.”

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