LendInvest’s world record breaking £4.1m peer to peer loan has now been repaid in full.
The loan, against a commercial building in Croydon, was taken out by a developer who was looking to acquire the building whilst planning issues were worked through.
The investors were paid a net return of 6%, for the six months in which their money was invested in the loan (ie 12% pa).
Christian Faes, co-founder of LendInvest, said: “As with any loan, it can only really be characterised as a good loan, when it is repaid.
“We are experienced lenders, and we have what we believe is the best deal-flow and underwriting experience in the secured P2P market.
“While some platforms are starting to see some hefty defaults and investor losses, LendInvest is able to exploit its experience and track record as a lender.
“Unfortunately, some platforms are going to learn that it is easy to lend money, the hard part is doing sound loans that get repaid.”
The project known as Green Dragon House, will facilitate over 120 new flats for the area, providing much needed new affordable housing in London.