Over half of LandlordInvest loans funded in under five minutes

LandlordInvest has increased the proportion of loans that are funded on the platform in under five minutes from 2.7 percent to 55.1 per cent.

The peer-to-peer property lending platform has revealed that while more than three years ago only 2.7 per cent of loans were being funded in under five minutes, this has significantly increased for loans funded in the last three years.

An analysis of a sample of loans between 2017 and 2024 found that 38.6 percent of all loans were funded in less than five minutes and 42 per cent were funded in less than 10 minutes.

“The data confirms what we have anecdotally experienced in the office. Almost 40% of all loans have been funded in under 5 minutes and over half within an hour,” the group said in an update on its website.

In contrast, only 8.1 per cent of loans from before three years ago were funded within an hour.

LandlordInvest recently revamped its website and has started to “actively promote” its pensions account. The firm’s pensions account is for investors who want to lend Small Self-Administered Scheme (SSAS) or Self-Invested Personal Pension (SIPP) funds on the platform.

And in May it published the performance of its loans by risk rating, revealing that more than 50 per cent of B and C rated loans were paid either on time or early.

Read more: LandlordInvest investors earned 12.41pc last year