Lending platform

New peer-to-business platform launches

A new peer-to-business (P2B) property lending platform has launched in the UK.

London-based Credit Peers allows individuals to lend from £500 upwards for commercial property transactions that were previously only available to institutions and banks.

The launch follows research conducted by the platform which found that 59% of respondents trust their bank less now than they did a year ago.

Torsten Hartmann, CEO of Credit Peers, said: “The current economic environment of low interest rates, volatile stock markets and high house prices offers very little to the average consumer looking to make a better return on their money.

“Add to this the current distrust of traditional investment vehicles, and the situation is bleak.

“We are setting out to revolutionise and democratise property financing by focusing on quality, speed, control and transparency.”

Credit Peers lends only to professional real estate investors and developers, and offers a minimum investment of 15% of the property value into each transaction.

The company – which offers fixed interest rates of between 5% and 10% per annum – was created by a team of five property financing experts with over 100 years combined experience in the sector, including stints at Goldman Sachs and Credit Suisse.

“In the context of the uncertainty created by Brexit and the US election, we are confident in both the property and alternative finance markets,” Torsten added.

“We want to allow everyone to benefit from the ongoing growth within the sector by helping them to lend funds against tangible assets that they can see, touch and feel.

“Our extensive experience in the sector means that we are perfectly placed to be able to facilitate the P2B lending revolution.”

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