Post by CrowdProperty Representative on Apr 12, 2016 14:29:28 GMT
Hi all,
Firstly, I would like to apologise for the lack of presence on this forum to date - we have wanted to ensure that we are ready to listen and learn from the valuable feedback that we observe from the users.
By way of introduction, I am Simon Zutshi, the founder and CEO of CrowdProperty, and I’d like to give a short overview of our platform.
We are a small business made up of experienced property professionals, hence our focus. We place great priority on sourcing and rigorously assessing what we believe to be solid residential property projects from experienced property professionals with our required level of security (always first charge security on the subject property asset - just like a mortgage company would). We therefore provide our lenders what we believe in our professional opinions (and the opinions of our lenders to date) a strong and secured rate of return.
We don’t handle client money - our process asks our lenders to send money directly to our solicitors protected escrow account before drawdown of the loan. We acknowledge that we don’t have all the website features that the bigger platforms have, but as we grow we will continue to make improvements to our processes. We do not have a secondary market - our loans are shorter than many other platforms at 6-18 months with 12 months the most typical loan term, which is a typical period of time that we find many people plan their finances around. We are also focusing currently on getting lenders' money working more quickly for them which will happen as we increasingly fund projects in advance of fully funding them on the platform, and as overall lending capital on the platform increases. We have grown our cumulative lending to date by 90% in the first three months of 2016 and have a healthy pipeline of projects to come.
We would really value your questions and feedback and will always try to respond, however we can’t promise that we‘ll always be able to respond quickly. We will however be very watchful especially over the next 48 hours in case you have initial questions or feedback for us. We do also like to engage with our lenders on our webinars – each time we launch a new project we invite all our registered lenders to a webinar where we discuss the project in detail and answer any questions that people might have, including the opportunity to ask the developer questions about the project. We also have more general Q&A webinars on an ad-hoc basis.
We look forward to hearing from you and very much welcome your feedback so we can improve our service offering.
Kind regards,
Simon Zutshi
CEO, CrowdProperty
Firstly, I would like to apologise for the lack of presence on this forum to date - we have wanted to ensure that we are ready to listen and learn from the valuable feedback that we observe from the users.
By way of introduction, I am Simon Zutshi, the founder and CEO of CrowdProperty, and I’d like to give a short overview of our platform.
We are a small business made up of experienced property professionals, hence our focus. We place great priority on sourcing and rigorously assessing what we believe to be solid residential property projects from experienced property professionals with our required level of security (always first charge security on the subject property asset - just like a mortgage company would). We therefore provide our lenders what we believe in our professional opinions (and the opinions of our lenders to date) a strong and secured rate of return.
We don’t handle client money - our process asks our lenders to send money directly to our solicitors protected escrow account before drawdown of the loan. We acknowledge that we don’t have all the website features that the bigger platforms have, but as we grow we will continue to make improvements to our processes. We do not have a secondary market - our loans are shorter than many other platforms at 6-18 months with 12 months the most typical loan term, which is a typical period of time that we find many people plan their finances around. We are also focusing currently on getting lenders' money working more quickly for them which will happen as we increasingly fund projects in advance of fully funding them on the platform, and as overall lending capital on the platform increases. We have grown our cumulative lending to date by 90% in the first three months of 2016 and have a healthy pipeline of projects to come.
We would really value your questions and feedback and will always try to respond, however we can’t promise that we‘ll always be able to respond quickly. We will however be very watchful especially over the next 48 hours in case you have initial questions or feedback for us. We do also like to engage with our lenders on our webinars – each time we launch a new project we invite all our registered lenders to a webinar where we discuss the project in detail and answer any questions that people might have, including the opportunity to ask the developer questions about the project. We also have more general Q&A webinars on an ad-hoc basis.
We look forward to hearing from you and very much welcome your feedback so we can improve our service offering.
Kind regards,
Simon Zutshi
CEO, CrowdProperty
