Specialist lender launches in Australia
A Birmingham-based specialist peer-to-peer lending company for the property sector has launched in Australia.
CrowdProperty has expanded into the country to offer a non-bank lending alternative to the SME property development market.
The company has appointed David Ingram as CrowdProperty Australia’s CEO. UK CEO Mike Bristow will sit on the CrowdProperty Australia board.
Bristow said: “The model that we have proven with great success in the UK is a perfect fit for the Australian market. We’re a company founded by people who have long experience developing property and working in the finance sector, built entirely around the customer.
“We intimately know the pain developers experience when trying to fund projects and have built a lending business to deliver speed, ease and certainty of funding for these developers, who can spend up to a third of their time working to secure finance for their property projects. At the heart of the business is technology for efficiency and expertise for effectiveness, delivering a better deal for all – borrowers, lenders, under-supplied housing markets and spend in the country’s economy.
“Since launching in the UK in 2014, we’ve funded over £250m of property projects by SME developers, constructing over 1,400 homes in the UK, and delivered a 100% capital and interest payback to investors. CrowdProperty is the UK’s leading specialist property project lending platform and we see the same potential in Australia for CrowdProperty, underpinned with all that experience.”