Landlordinvest is developing a lending platform with the aim of being the UK’s first near prime property peer-to-peer lender.
The platform, will target professional buy-to-let and bridging loan borrowers with a near perfect credit score, that are having difficulties with obtaining loans from traditional lenders, due to a one off adverse credit event in the last five years.
Filip Karadaghi, LandlordInvest’s chief executive, said: “We will be the first P2P lender that is looking to bridge the gap between near prime property borrowers and a lending market which last year stood at around £30bn.
“We do not believe that it is fair or rational that borrowers, with nearly perfect finances, are unable to borrow because of missing a single payment years ago, caused by an unexpected life event such as a divorce or illness.
“Our retail and institutional lenders will be able to obtain higher returns than offered through other P2P lending platforms, as they will be providing financing to an unserved borrower market.”
LandlordInvest is currently running an equity fund raising campaign on Seedrs and expects to have authorisation from the Financial Conduct Authority over the coming weeks.
Borrowers will be able to access loans between £30,000 and £300,000 for up to five years on a buy-to-let basis. They will also be able to raise short-term financing, bridging loans with a maximum term of 18 months.