From demolition to delivery: you’ve helped build two new family homes
In November 2014, we visited Funding Circle borrower Medina Capital Investments at a demolition site in West London. Just over a year later we returned to the site, with Funding Circle CEO Samir Desai and investor Maureen, to see the final touches being made to two new family homes. The properties, which have just been signed off by building control, consist of one four bedroom and one five bedroom house and benefit from off-street parking.
Business owner Nidal Al-Khail, who has borrowed £1,690,000 since September 2014 to carry out the project, describes marketplace lending as “a breath of fresh air for his business.” He already has two parties interested in purchasing the properties.
Maureen has been lending to hundreds of UK businesses through the Funding Circle marketplace, including Medina, since 2012. While looking around the properties, Maureen said, “It feels like my investment has come to life.”
The Funding Circle property product was launched in April 2014, and has since facilitated over £100 million in loans to experienced property developers, helping to build over 600 new homes across the UK. Samir Desai commented “Funding Circle is making a big difference now in the UK in terms of new homes. It’s really pretty rewarding.”
In the short video below meet Nidal, look around the properties, and hear how, thanks to your lending, he’s been able to expand his business twofold in the past 8 months.
Property development loans were available between April 2014 and April 2017. If you work in the property industry and are looking for finance, we may still be able to help you with an unsecured loan up to £350,000 with a personal guarantee, or a secured loan up to £1 million.
Get an instant quote online or speak to our dedicated team today on 0800 048 8747.