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Credit Peers launches P2B commercial property lending platform

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Credit Peers has launched an online lending platform which allows individuals to lend from GBP500 upwards for property transactions that were previously only available to institutions and banks.

Credit Peers aims to speed up the process of property financing compared to the traditional model. After registering, a lender can begin to make loans within minutes, while a borrower could have access to finance within weeks.
 
The launch comes at a time when trust in banks and building societies remains low. Recent research undertaken by Credit Peers amongst 1,000 consumers found that 59 per cent trust their bank less than they did a year ago. In addition, 44 per cent of respondents are looking for the rate of return on their investment to be between 5-10 per cent.
 
Credit Peers is the latest business to launch in the alternative finance market and is one of the first peer-to-business (P2B) property lending platforms in the UK.
 
UK consumers are open to property as an investment option, with 65 per cent stating that they would like lenders to invest their money into property or real estate, almost double the next most popular options – stocks and shares (33 per cent) and commodities (33 per cent).
 
Credit Peers only deals with professional real estate investors and developers as borrowers, and implements strict lending criteria. Its borrowers are subject to rigorous due diligence and underwriting, and are required to invest a minimum of 15 per cent of the property value using their own equity into each transaction.
 
The company only matches funds to projects that are verified and managed by experienced and professional real estate investors and developers with successful track records, which offer significant security.
 
Current lending opportunities include an office building in Newcastle under Lyme and a commercial site forming part of a larger re-development on Stratford High Street, London.  
 
Credit Peers has been created by a team of five property financing experts with over 100 years combined experience in the sector within the top tier lending and investment banking community, including Credit Suisse and Goldman Sachs.
 
Torsten Hartmann, CEO of Credit Peers, says: “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. In the context of the uncertainty created by Brexit and the US election, we are confident in both the property and alternative finance markets. 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.
 
“Credit Peers deals with all types of property from multi-residential to office and retail, and accepts individual lenders, but we only deal with a special type of borrower. This is what sets us apart from the P2P lending market. We are passionate about the importance of P2B as a way to offer the public additional peace of mind that their loans are made to well-established borrowers in the property market. 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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