We are delighted to announce that Blend Network recently repaid £2,282,000 to lenders who had invested in 6 loans: the Charterhouse loan, the Image House loan 1 and the Crown House loans 1, 2, 3 and 4. Lenders on all those loans earned 8-10% return p.a.
Yann Murciano, CEO, commented: ‘We are very pleased that all our lenders on these six loans got repaid well ahead of maturity. This is a testament to the high quality of loans on the Blend Network platform and to the experience of borrowers who are able to deliver the projects even in the current Covid19 pandemic’.
Roxana Mohammadian-Molina, CSO, commented: ‘We are very grateful to all lenders on Blend Network for the trust and confidence they have deposited in us and our team. We are working extremely hard to continue building an enviable track-record’.
The 10% return p.a. Image House loan 1 was taken in October 2019 to finance the acquisition and redevelopment of an office building in Stafford into 23 residential apartments. The 24-months loan was funded by 103 investors who got repaid last week, well ahead of maturity, as the borrower has been able to get additional planning for 4 more apartments (a total of 27 now) and we recently refinanced the borrower.
The 8% return p.a. Charterhouse loan was taken in November 2019 to finance the acquisition and conversion of a two-bedroom, two-story terraced house into a 5-bedroom House of Multiple Occupancy (HMO) in Coventry. The 18-months loan was funded by 40 investors who got repaid last week, well ahead of maturity, as the borrower has completed the project and refinanced.
The 10% return p.a. Crown House loans 1, 2, 3 and 4 were taken to complete Phase 1 of the conversion of an existing office building in Great Yarmouth into 15 residential apartments. We are delighted to inform you that these apartments have been completed, adding much needed housing to this coastal town in Norfolk. The apartments are now being marketed in the market. Please see a link to them on Rightmove.
Join our community now and start lending with Blend Network. Keep an eye on our upcoming loans and invest from £1,000. You can earn 8-12% on our property-secured loans.