It consists of six projects across Dorset, Somerset, Lancashire and Greater Manchester, totalling 89 residential units.

The loans will be opened for funding later this week.

Sourced Capital provides asset-backed property development investment opportunities to high-net worth, corporate and institutional investors.

It offers funding for development projects from Sourced Franchise, its exclusive network of property developers, with a specific focus on sustainable housing.

The P2P investment platform expects to lend approximately £50m by the end of 2022.

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Derek Pratt, commercial director at Sourced Capital (pictured above), said: “Our pipeline is growing quickly, and we are lending to support a wide range of property transactions including ground-up developments, conversions, and refurbishments. 

“While our sweet spot for lending is typically between £250,000 and £3m, we always assess each proposal on its individual merits, with the current pipeline clearly demonstrating our willingness to support quality transactions both above and below this range if they provide the right calibre of opportunities for our investors.

“This type of investment is not appropriate for everyone, but considering the combined benefits of first-charge property security, the capability to use ISA allowances or pension funds for tax-free interest returns, and robust ongoing credit management, it is understandable why we are seeing more investors approaching us to join our investment platform.”