CapitalRise receives over £3.3bn in loan applications in 2019

CapitalRise has revealed that it received more than £3.3bn in loan applications during 2019 and saw loan volumes more than treble compared with 2018.

The property investment platform aims to offer investors access to prime real estate opportunities, with tax-free returns which are available via its Innovative Finance Isa.

In an exclusive interview with Development Finance Today, Uma Rajah, co-founder and CEO at CapitalRise, suggested that the increase in loan volumes was due to the platform being “focused on a very specific niche”.

“We screened over £3.3bn in loan applications last year, which is a good barometer for [the] size of the market and the amount of finance that people are looking for.”

The majority of its book is currently made up of loans of between £1m and £10m, with 70% of it being development finance and 30% in bridging.

Uma claimed that despite the “decline” in the prime central London market since the end of 2014, CapitalRise has been actively lending in the space and redeeming on time.

“We attribute [this] to the fact we know what we're doing and we're lending in a part of the market we understand very well.

“It means that right now is a fantastic time for developers to acquire sites at really fantastic prices that enable them to then put together a project which will be incredibly profitable compared with two, three or four years ago.”

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