EasyMoney exceeds £250m worth of loans in five years

EasyMoney announced that it has lent out more than £250m to date, as it celebrates five years in business.

The peer-to-peer property lending platform was launched in February 2018 by Andrew de Candole under a licensing deal with EasyJet founder Stelios Haji-Ioannou.

It enables investors to invest from as little as £100 to unlimited sums for the purposes of funding residential and commercial property deals, typically for periods of between 12 and 24 months.

Read more: Easymoney: UK construction to grow by 3.9pc this year

EasyMoney has reported £255,305,000 in loans written and deployed, £105,722,000 in loans repaid and £18,303,122.21 in interest paid back to investors.

EasyMoney has seen an average yield to investors of 6.98 per cent per annum and said no investor has lost capital to date.

The platform has also recently increased its lowest target return rate to 4.53 per cent per annum.

Read more: EasyMoney hikes target rate across all accounts

“As a significant lender to property people and as an investment platform that’s returned over £18,000,000 to those that have entrusted us with their money, we are favoured as a valuable source of finance for property developers, HMO refurbs and for buy-to-let purchasers,” said EasyMoney chief executive Jason Ferrando.

“Despite less certain times of late we have gone from strength to strength and are deploying ever larger sums to the industry as well as providing historically above market returns to an expanding number of investors. The EasyMoney brand is now synonymous with success and trust on both sides of the peer-to-peer transaction.

“I now look forward to achieving our next milestone – £1bn in property loans written”.

 Read more: EasyMoney mulls Europe entry