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Zoopla introduces peer-to-peer property investor service

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  • 26/09/2016
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Zoopla introduces peer-to-peer property investor service
Zoopla has launched an 'invest' channel which allows consumers to buy into property for as little as £100.

In partnership with Landbay, the channel offers a peer-to-peer lending service and with another start-up Bricklane it offers a tax-efficient first online property ISA.

The services are direct to consumer, but Landbay said it will still value the experience and lending opportunities brokers have to offer for its borrowers.

All investors come directly to Landbay with the bulk of borrowers coming from brokers, though repeat borrowers are an exception.

Gray Stern, co-founder and CCO, Landbay, said: “Landbay lends exclusively to experienced and creditworthy borrowers, typically professional landlords. These borrowers will in most cases use a broker when seeking funding, so it makes sense for us to use a broker network to originate high quality lending opportunities. Our partner brokers help filter applications, identifying opportunities that meet our basic criteria as well as liaising with the borrower to help us make fast and responsive decisions.”

Earlier this month Zoopla joined forces with digital mortgage adviser Trussle, enabling house-hunters access to over 90 lenders and 11,000 mortgages.

On property investor channel, founder and CEO of Zoopla, Alex Chesterman said: “We are delighted to be launching this great opportunity for anyone to invest in the UK property market from as little as £100. Property investment has never been available to the masses before in this way and for those looking to get onto the property ladder or saving towards a property purchase, the ability to ensure that their investments keep pace with the property market is essential.”

Lawrence Hall, head of communications at Zoopla Property Group added: “Zoopla is constantly launching services, tools and products that provide consumers with the most useful resources when finding, moving or managing their home.”

 

 

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