CrowdProperty reports record-breaking September
CrowdProperty has reported a record-breaking September, with more than £14.3m lent to fund property developments.
This means that the property lender has now supported the construction of at least 2,700 homes with £330m of facilities agreed.
To date, CrowdProperty has funded over £600m worth of property projects across the UK.
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The lender has also reported that lending volumes in the third quarter of 2022 were up by 90 per cent, year-on-year.
“I’m incredibly proud of the team for the effort and determination that has gone into achieving our latest milestones,” said Mike Bristow (pictured), chief executive of CrowdProperty.
“The third quarter of 2022 has seen fantastic, record-setting performance from the business as a whole, in terms of both lending and new facilities started on both volume and value bases.
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“We’ve originated more than £130m in the last 12 months – and our conversion-weighted pipeline is now double what it was this time last year, as we continue to reliably support our customers to build more homes through diverse capital sources and deep property expertise.”
Bristow told Peer2Peer Finance News that the platform is on track for its third consecutive profitable year for the year ending March 2023.
Over a three year horizon, he said that CrowdProperty has grown origination and lending by 319 per cent and 335 per cent, respectively, despite macro-economic challenges such as the Covid-19 pandemic.
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