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.

Sign up to our newsletter to receive more news like this story

I accept that by joining the DFT mailing list, I will receive relevant news and promotional material via DFT on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.

Leave a comment