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.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS