Q&A with a Crowdahouse Member

We were recently asked some good questions by a new Crowdahouse Member which I thought would be useful to share with you here. Although detailed answers can be found in our FAQs, we realise that you may not have the time to read through them all. So here are your fellow Member’s questions and my answers.

How safe are the Crowdahouse Borrowers?

The Borrower must be a limited company or High Net Worth Individual (HNWI), and provide a property as security in the form of a first charge. The Borrower must also provide answers to a lengthy application form, after which all the information is thoroughly checked by us and the solicitors representing the crowd of Lenders. We turn down all projects that do not meet our strict requirements or that we regard as risky and unsuitable for our Members. And in the unlikely event that the Borrower misses a payment or defaults on the loan, then our proprietary Lenders’ protection system called Crowdasafe™ steps in to administer the property on behalf of you and your fellow Lenders. Any property income is diverted to pay your interest, or if necessary the property will be sold on your behalf to recover your money and any costs.

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Priestman Rd Loan Project Completed Today

Funded in One Day

Today one of our Borrowers, Lindsay Naylor, completed on a purchase of a 2 bed mid-terrace in Darlington, Co Durham using funds raised entirely by Crowdahouse® Members.

Lindsay had already entered into an option agreement to purchase the property, but decided to raise money via Crowdahouse to buy out the seller early. The loan was relatively small at £59,500 and was pledged within a few hours of the project going live and completed within a few short weeks during which the Borrower undertook standard purchaser’s conveyancing.

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How Do You Lend Money Via Crowdahouse?

The Crowdahouse Process – It’s Simple

At Crowdahouse, we try to explain our simple lending process as clearly as possible. We want you to fully understand both the risks as well as benefits of lending so that you can make an informed decision. If you’re new to peer-to-peer (P2P) lending and crowdfunding, sometimes it’s easier to just see the whole process in a diagram.

So here’s one we’ve created for you. From here, you can go to our Lenders section of the website and of course our FAQs for a more in-depth level of understanding.

And as always please contact us here if you have any questions at all.

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What Are The Different Types of Crowdfunding?

What is crowdfunding?

Crowdfunding is a means of raising money to fund a business or project by using small amounts of money from many individuals (the crowd) rather than large amounts from just a few investors, as was the traditional way.

In my last post How Safe is Peer-to-Peer Lending?, I mentioned that there are different types of crowdfunding. These are often not clearly explained by the media because crowdfunding is a new and fast moving industry, and a result this can lead to some confusion among the public.

The 4 Types of Crowdfunding

There are 4 main types of crowdfunding.

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How safe is peer-to-peer lending?

Is P2P Lending Really Safe?

Since we started crowdfunding in 2012 Crowdahouse have always been on the lookout for media coverage of crowdfunding. The industry has grown exponentially over the last few years and now practically everyone has heard of crowdfunding, whether or not they fully understand it. It’s hard not to have heard of it, as we’re constantly bombarded with multiple TV ads, print ads, giant billboards on London Underground platforms and yet more advertising on tube trains. And that’s not including online coverage.

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