On 19 May, we funded our second largest-ever loan, a 10% return p.a. £1,950,000 total loan facility. Given the appetite we saw from lenders who snapped up this loan in 2 business days, we decided to go bigger, and on 27 May we listed our largest-ever loan, a 10% return p.a. £2,250,000 loan. We are delighted to inform you that this loan was recently funded in 4 business days.
Crown House Phase II loan 1 was a loan to refinance the existing facility (Phase I) and complete the conversion of an existing office into 30 flats in Great Yarmouth. A total of 110 investors lent on this 10% return p.a., 20-months loan. At 59% Loan-To-Gross-Development-Value (LTGDV), this was a perfect example of the types of loans you can invest in at Blend Network, from only £1,000. The borrower, a very experienced property developer, has already completed Phase I of the project consisting of 15 apartments and now intends to start Phase II of the scheme.
Since we launched in January 2018, we have been working hard to build a solid reputation and an enviable track-record. Development Finance Today recently titled ‘Blend Network funds its second largest loan’ and ‘Blend Network funds first tranche of its largest-ever loan‘. Meanwhile P2P Finance News wrote ‘Investor appetite endures despite pandemic panic’.
Yet all this would not have been possible without you, the lenders who have supported us through this journey and earned an average 10.62% return as of 12 June 2020.
Join our community now and start lending with Blend Network. Keep an eye on our upcoming loans and invest from £1,000 to earn 8-12% on our property-secured loans.