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Proplend Loan Reviews [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on July 12, 2018

Updated July 12, 2018

Proplend reviews

Overall Rated: 4.2 / 5

Summary

Proplend was founded in 2014 and offers a P2P lending platform connecting borrowers and investors directly. Loans are usually secured against commercial property already producing an income within Wales and England. The peer-to-peer lender meets funding needs of those who require financing of £5 million and below.

Borrowing from Proplend requires that the company be incorporated within the UK or hold underwriter discretion if overseas and to show the ability to provide commercial property within the UK as required security.

Financial Conduct Authority regulated and authorised, Proplend Ltd accepts diverse commercial properties as security such as residential blocks, retail, leisure, industrial, business parks, office, and marinas to medical property across Wales and England. The lender does not lend to development projects or private residential properties. Proplend offers commercial property finance to buy property, refinance or raise capital of between £250,000 and £5 million for five years at a rate of 5.5% per year.

The lender also provides commercial property mortgages. Financing of up to five years and up to a total of £5 million. Commercial bridging loans are granted for 18 months and up to a total of £5 million at a monthly rate of 0.75%. Both commercial mortgages and bridging loans are the quickest from Proplend with decisions made in a matter of days and funding completed in weeks.

 

Trust & Reputation

Rated 4.2/5

Proplend Ltd and its operations are covered by the FSCS (Financial Services Compensation Scheme). The peer-to-peer lender is regulated and authorised by the Financial Conduct Authority and currently a member of NACFB (National Association of Commercial Finance Brokers) since 2017. Proplend has picked up a number of accolades and nominations such as the 2016 Acquisition International Magazine’s Most Outstanding Peer-to-Peer Lending platform. As well as this, Proplend were included on the shortlist for the 2017 Credit Strategy’s F5 Awards for the Alternative Best Peer to Peer Platform.

Expertise & knowledge

Rated 4.3/5

Proplend has been connecting investors and borrowers through a peer-to-peer arrangement since 2014. The ability to balance between investors seeking lending opportunities for a lucrative income and borrowers who need to fund their businesses without defaults or losses since inception speaks volumes about the lender’s expertise. Proplend’s knowledge base extends in various areas, including property value through the use of UK leading valuer, RICS and internal legal minds. To ensure investors are covered, investor help and information and all opportunities available for both borrowers and investors are provided. Their customer care experience for investors and borrowers is also convenient for those who like online loan enquiry or calling to talk to real people.

Customer Service

Rated 4.2/5

As both a lender and investment opportunity provider, Proplend has been able to maintain a right balance that works for both its clientele under a peer-to-peer arrangement. The P2P lender has a ‘Great’ rating on Trustpilot with an 8.5 TrustScore out of ten. Trustpilot reviewers love the good returns and straightforwardness of the company, including accolades on their easy and simple to use website and highly available, helpful staff.

We are independently reviewed by our verified customers and web users:
Rating: 4.2 / 4.2 with 1 votes

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