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P2P lender JustUs secures £1.3m fund to launch mortgage offer

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  • 22/01/2021
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P2P lender JustUs secures £1.3m fund to launch mortgage offer
EMoneyHub, parent company of peer-to-peer lender JustUs, has reached its fundraising goal of £1.3m to launch its People’s Mortgage product in the second quarter of this year.

 

The target was reached in three days and sourced from 281 investors. 

This latest funding round adds to the £1.2m the lender has already secured with £600,000 coming from private investors and the rest from the British Business Bank. 

The money will also go towards developing JustUs compliance team in order to launch the mortgage products as well as EMoneyHub’s other services which include price comparison site MoneyBrain. 

The lender also already provides loans and ISAs.

The product will be a residential mortgage set at a fixed rate of 2.5 per cent for homeowners. Investors must be eligible for the innovative finance ISA to invest. 

JustUs gained approval from the Financial Conduct Authority to provide residential mortgages in June 2019 and plans to submit and application to amend its permissions to include mortgage administration. 

 

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