Peer-to-peer funding has recently allowed a Northern Ireland-based property developer to complete a brownfield site project, following issues related to Brexit.
Developer Maillot Jaune had bank funding withdrawn following the Brexit vote, halting the project to build 11 flats on the seaside site in County Down in 2006.
In August 2016, the council granted Maillot Jaune’s revised application for eight, three-bedroomed terraced houses.
Keiran Trainor, director at Maillot Jaune, says that without F&P, the project would not have gone ahead at all.
He comments: “Compared to bank finance, it isn’t particularly cheap, but this project would not have got off the ground without its help and the P2P finance agreement it arranged.”
F&P kept Maillot Jaune up-to-date throughout the process and consistently worked quickly and efficiently.
Maillot Jaune is one of the many success stories within the F&P portfolio of more than 250 borrowers it has promoted, who have secured some £100 million lending to prosper and grow.
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