We're delighted that we have completed the biggest loan yet: a £740,741 bridging loan secured over a residential investment property in Wembley, Middlesex for a professional landlord with a substantial real estate portfolio.
It is the biggest loan yet to be completed by LandlordInvest, only eight months after we became one of the first P2P lending platforms to obtain a full FCA authorisation and launched one of the first property-backed Innovative Finance ISAs (IFISA).
A total of 56 investors, including retail investors and pensions schemes (SSAS/SIPP), fully funded the loan within the four days through a crowdfunding process, meaning that the average investment per investor was £13,227.5. Of the full loan amount, a total of £565,955 (76.4%) was contributed by Standard account holders, with £174,786 (23.6%) coming from IFISA account holders.
This latest loan means that around £2.0 million of mortgages have been completed on our lending platform since December 2016.
Filip Karadaghi, LandlordInvest’s Chief Executive said: “We are delighted to have completed the biggest loan yet on our lending platform. The borrower was in need to quickly refinance an existing loan, whilst arranging long-term financing with a high street lender, and it took less than a week for the loan to be funded and completed on our lending platform. It shows that P2P platforms, such as LandlordInvest, are becoming a viable alternative for professional landlords seeking financing in a quick, simple and efficient manner.”
For more information, please see the following press release.
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LandlordInvest Limited is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 660926). LandlordInvest Limited is not covered by the Financial Services Compensation Scheme (FSCS).
Loans provided to borrowers through LandlordInvest are provided solely for business purposes. Loans are therefore not regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974. You should seek independent legal advice if you are in any doubt as to the consequences of the loan not being a regulated agreement under those Acts.
LandlordInvest Limited (Company No. 09245725), registered office 330 High Holborn, London, WC2A 1HL
