It’s been a busy start to the year at Blend Network and last week we had a smashing week, funding £1,000,000 in 30 minutes. That was a record for loans funded in a week at Blend Network. It shows our investors are hungry for the property-secured yield products we are offering: 8-12% return p.a. loans secured against first charge on properties in the UK.
On Tuesday, we listed our 10% return p.a. Dundonald deal, a £540,000 loan to finance the construction costs of 7 apartments in Dundonald, County Down. The loan was funded in less than a minute by 84 investors. On Wednesday, we listed our 8% return p.a. Factory Bridge deal, a £460,000 bridge loan to part finance the acquisition of a development site in Northamptonshire with planning to convert to 24 apartments. The loan was funded in 29 minutes by 70 investors.
Our origination and underwriting team are hard at work to bring you more great risk/reward loans soon. We are working on a number of projects that are currently undergoing due diligence, and if approved by our credit committee will be listed on www.blendnetwork.com throughout February. So, keep an eye for more loans coming soon!