So far this year, we have funded the construction of 164 residential units, a mix of flats, houses and HMO units. This represents an 11% increase compared to the number of residential units we funded in the whole of 2020 and a 156% increase from the units we funded in 2019.
We are very proud of being able to support SME property developers and small construction companies who are working hard to build the homes the UK needs. As we all know, the UK has long suffered from a shortage of affordable housing[i]. Estimates have put the number of new homes needed in England at up to 345,000 per year, accounting for new household formation and a backlog of existing need for suitable housing. In 2019/20, the total housing stock in England increased by around 244,000 homes. This around 1% higher than the year before but is still lower than estimated need[ii]. So, we are very pleased to be able to put a small dent in the housing crisis by funding the construction of more much-needed homes.
If you’d like to find out more about how you can become an investor and invest in property-secured loans to SME property developers, please visit www.blendnetwork.com today or give us a call at 020 3409 3300. We’d be delighted to guide you through questions you may have.
Your capital is at risk if you lend to businesses. P2P lending is not covered by the Financial Services Compensation Scheme. Investments are illiquid (the inability to sell assets quickly or without substantial loss in value). Past performance is not a reliable indicator of future results.
BLEND Loan Network Limited is authorised and regulated by the Financial Conduct Authority (Reg No: 913456).
[i] Source: https://bit.ly/2VWdl3m
[ii] Source: https://bit.ly/2VWdl3m