Interest rates went up, as we all know, by 0.25% and, whilst banks were quickly to change their mortgage rates, only some have passed on the increased rate to savings accounts – and only marginally at that. My view is we won’t see another rise for quite a while and despite its perceived security, the only thing certain about leaving your money in a bank account is it will be worth less next year than it is right now.
At The House Crowd, we had another excellent fundraising month and exceeded Lewis’s forecasts again.
We returned over £1.4 million to investors in capital and interest. If you missed my last email about processes and defaults on peer to peer loans you can access it here.
The first people moved into their homes in our Gratrix Park development and one of them has put theirs on the market for £90k more than they bought it for. We know we sold them for a good price but we think that’s a little optimistic. Still good luck to them.
We held an Open Day at the office last week. It was great to meet some local and some not so local investors. Big thanks to John from Nottingham, Alex from Wrexham and Jessica who came all the way from Margate (wow!) for braving the NW motorway system and making such an effort.
As well as meeting our team, attendees were given a sneak preview of the new website our in-house tech team have been working hard on developing. I am glad to say it got rave reviews from everybody and we are very excited to about its launch which should be mid-December.
David Roberts, our London based Investment Director, gave a well-received talk at The Investor Show in Olympia called The Billionaire’s Property Secret. If you would like to watch a webinar version of it, you can access it here
Talking of webinars, I am presenting a masterclass called ‘The Ticking Retirement TimeBomb And How You Can Protect Yourself’ on Monday 4th December at 7pm. Places are free but limited. Register here
That’s all folks.