One of the UK’s leading crowd-funded property lenders has today announced that it remains open for business and is in a position to continue to pay investors in the unprecedented business climate.
BridgeCrowd is a specialist property platform and bridging loan provider based in Didsbury, Greater Manchester.
Responding to the changing business environment as a result of Covid-19, the business has reassured its investors that the company continues to be well capitalised and is an extremely strong position to navigate and perform well in the short and long-term.
As one of the UK’s most established bridging lenders and longest standing property platforms, BridgeCrowd has an unblemished track-record, having suffered zero capital losses since its initial launch eight years ago and a 100% recovery rate for all loans.
BridgeCrowd MD, Louis Alexander, pictured, said:
“Our track-record of eight years of stable growth, and 100% recovery rate is excellent. This is due to our conservative and sensible lending criteria. Now, as always, our absolute priority as a business is to keep investments safe and ensure our clients are supported during this time.
We are using the same precise, methodical and knowledgeable recovery policy we are known for and applying it to this new and highly dynamic business context.
BridgeCrowd provides bridging loans at loan to values of up to 70% secured over residential properties and buy to lets. The average loan to value is 56%.
Louis Alexander continued:
“As surveyors, solicitors and banks naturally slow down; this will have a knock on effect and we anticipate a slow-down in loan redemptions.
However, our underlying loans are tied to the property market which has been robust in times like this and one which investors have profited from over the years. Our strategy is – and has always been – to provide our investors with the safest possible return and to plan and protect for long-term stability.”
BridgeCrowd has also assured investors and borrowers that service levels remain the same with staff fully equipped to work from home and that as a leading Fintech company its technology is prepared and protected given the expected demands on connectivity in the coming weeks. The company will continue to offer loan opportunities to investors in order to fund loans with borrowers, but it will naturally prioritise the safest loans at this present time.