‘Good News to End a Tough Week’
In this ‘week of weeks’, we paid back £686,124.19 to our investors!
What a week it has been for all of us! A lot has happened in a very short space of time, not least the rather sobering address made by our Prime Minister earlier this week enforcing tighter restrictions on our day-to-day activities and our leaving the home.
You may or may not have received a text message this week from GOV.UK insisting you must stay at home, protect the NHS and save lives. This is very important, and we must follow the guidelines and act responsibly. Equally as a business we need to act responsibly, not only for our own health, but for all the contractors and sub-contractors we engage with and of course for you our investors and your money.
We have been executing our remote working plan of action for over a week now so you can rest assured that The House Crowd team have been working in self-isolation, very successfully even before the PM’s historic announcement. We conducted our first team meeting remotely, Tuesday 17th March with our Heads of Department via Microsoft ‘Teams’ and collectively we pulled together a comprehensive plan to ensure that our members and investors have access to the most up to date advice and support to help you through these challenging times.
Whilst these are worrying times for us all from a health perspective, we must not panic economically! These are unprecedented times and we are putting unprecedented measures in place to protect your investment. Do not forget that all monies invested are secured against the property or developer’s project.
History tells us that investors reach their goals if they remain invested, even if they invest shortly before a fall. At The House Crowd we believe you should look positively to the future and avoid magnifying the importance of short-term stock market falls.
If this situation passes as quickly as the government and scientists predict, the underlying economy will bounce back strongly and swiftly. Demand for affordable housing (in which you are invested) will still exceed supply in economically vibrant geographies, reinforcing the viability of these projects.
Inevitably some of our developments will be delayed until we are able to get contractors back on site, but these developments will be finished, will sell and investor’s money will be returned.
All of this brings me nicely on to some good news which is a refreshing break from the current norm!
This week we have paid back £686,124.19 in investor capital and interest, summaries of which can be seen below:
- Investor Capital returned £583,000
- Total interest paid £35,111.78
- Total term of loan 212 days – redeemed 62 days early, original term was due to be 274 days
- Average interest paid 10.37%
- Interest ranged from 9% to 11%
HCF189 Mill Road
- Investor Capital returned £63,000
- Total interest paid £5,012.41
- Total term of loan 311 days – 276 standard term days and 35 default days
- Average interest paid 9.34%*
- Target interest rate 9% achieved
In the immortal words of Rudyard Kipling, “when all around us are losing their heads”, stay calm, evaluate and make informed not panic decisions. Use this period of global pandemonium caused by Covid-19 to your advantage. See it as an opportunity to take stock and review not only your personal finances and investments but your future.
Let’s use the power of the Crowd to pull together and beat this! Please stay safe and thank you for your continued support.
*Uplift of 3% on the 35 defaulted days.