FutureBricks

FutureBricks provides £375,000 funding for luxury property



P2P lending platform FutureBricks has provided £375,000 of commercial funding for the refinance of an office building in Camberwell, south London.

Funding for the property — which is currently valued at £1m and will be converted into a luxury residential property — was sourced in less than 10 days.

The interest rate is 10% with a first charge security on the property.

"The Camberwell project had only 37% LTV offering a double-digit interest rate of 10% gross per annum paid out monthly,” said Arya Taware, CEO at FutureBricks.

“We are proud to have such high-quality deal flow on our platform.”

FutureBricks recently announced plans to achieve a loan book of £100m over the next two-and-a-half years and also intends to expand its operations into Germany.


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