CrowdProperty funds £600m of property development projects
Birmingham-based property development lending platform CrowdProperty has now funded more than £600m of property projects following a record-breaking September with over £14.3m lent to facilitate the construction of residential property developments by small and medium sized developers across the UK.
As a result of this performance, lending for the quarter finished up 90% on the same period in 2021.
CrowdProperty has now supported the construction of a total of over 2,700 homes with £330m of facilities agreed, as it said it is delivering on its mission to transform property finance to unlock the potential of small and medium sized property developers to build more homes, helping them to grow their businesses quicker and drive spend in the economy on labour, materials and services.
Mike Bristow, CEO of CrowdProperty, said: “I’m incredibly proud of the team for the effort and determination that has gone into achieving our latest milestones: Q3 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. 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. Together we build.”
