The Manchester-based House Crowd has surpassed Â£ 100million in capital invested through its platform.
The peer-to-peer lending platform allows people to invest in secured home loans.
âI am delighted to cross the Â£ 100million mark,â said Frazer Fearnhead, CEO of The House Crowd. âThis shows that our investors have confidence in our mission to generate reliable and consistent returns on real estate investments – and it is a sign of the progress we have made as a company in recent years. “
The House Crowd recently launched several new investment products. He has also started development on several large projects in the North West, including The Downs – a Â£ 15million development in Altrincham – and the conversion of Chapel Walks in Manchester.
The conversion of Downs and Chapel Walks has a combined gross development value of over Â£ 20million. The target ROI for investors is 10% pa
âThese developments highlight how far we’ve come in a short period of time,â said Frazer Fearnhead. âThese are the kinds of projects that show exactly why it’s so important that platforms like ours exist.
âIt has always been assumed that real estate investing has a high barrier to entry – but with peer-to-peer mortgage loans, there is ample opportunity for everyone to enjoy high returns with good security. The UK is in the midst of a housing crisis, and we are providing much needed housing while helping people effectively build their financial futures.
“Our investors have shown that there is a strong willingness to invest in the North West compared to London and the rest of the country.”