The House Crowd hits landmark £50m target
The House Crowd has smashed a £50m investment milestone after raising more than £15m in less than six months.
The project offered investors 8 per cent yield over a fixed six month period at 63.2 per cent loan-to-value.
“Today investors are facing uncertainty on an unprecedented scale,” said Frazer Fearnhead, CEO of The House Crowd.
“Traditional buy-to-let is now unviable for most individuals, interest rates are woefully low and look to stay low for considerable time. Also, the stock market is a gamble few can afford to take.
“No wonder people are turning to property crowdfunding to take control of their own finances, spreading their risk across a diverse range of investment products.
“This includes property-backed peer-to-peer loans that can provide fixed returns of 8-12 per cent in under 12 months.
“I have no doubt the confidence we’re seeing from investors in our service will continue to grow, as alternative finance takes the place of less attractive, traditional investment options.”
The company has recorded growth of over 100 per cent each year over the last two years and offers a range of investments secured against property tailored to different investor risk profiles and objectives.
Alongside this it has managed to pay out more than £10m in returns to investors, opened a new London office at Level 39, Canary Wharf, successfully funded 307 property investments, growen its website members to 15,000 and increased staff numbers from its original team of three to 24.