Performance Statistics: November 2017

Performance Statistics: November 2017

Please see below for our repayment stats for November 2017.  These list total dividends, interest and any capital repayments made in that month covering our B2L investments, development and P2P loans, as well as the year’s returns to date. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

November 2017

  • Projects and loans paid out against = 40
  • Total value of dividends and interest paid = £187,702.60
  • Total value of capital repaid = £1,285,721.97
  • Total number of investors paid = 773

Total for 2017 So Far

  • Projects and loans paid out against = 283
  • Total value of dividends and interest paid = £1,366,486.51
  • Total value of capital repaid = £8,574,029.36
  • Total number of investors paid = 7,821

Cumulative (from January 2013)

  • Project paid out against = 717
  • Total value of dividends and interest paid = £2,502,111.51
  • Total value of capital repaid = £13,579,749.36
  • Total number of investors paid = 16,319

 


To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

Register Now for more Info

View our Property Investments

 

Development Update – December 2017

Please find below the latest updates on all our ongoing developments as of the end of November 2017.  There are also links to the latest images for earlier developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and units sold, and a number also have more than one round of funding, repayable at different stages of the build.  For information on the estimated repayment date of the phases of development loans you are invested in, please refer to the investment pack you downloaded when you invested, and to the Development Loans Payment Schedule, also available on the project status page on the website.

HCD16 – Parkside Phase

A notice for demolition has been received and work has started on the site .  Detailed work continues in the background.  We hope to have some site photos available for the next update.

HCD15 – Buckton View

Physical start on the site is scheduled for December 9th 2017.  The local authority are very short staffed which has led to delays in agreeing pre-start information.  However this has not affected the overall timescale of the programme, which remains the same.

A re-work of the house designs has been completed and can be viewed by clicking here.

HCD14 – Frodsham Old Library

The floor plans have been redesigned following a full measured survey of the building.  They can be viewed below.

The strip out of the building is almost complete and you can see images on the link below and a quick video overview.

Click here to view the new floor plans.

Click here to view the latest Frodsham Old Library photos.

Click here to view a quick video of the Frodsham old library site.

HCD13 – Coppenhall Way

We have received a Considerate Constructors Certificate of Compliance for this site which is excellent news – information on this is in the Dropbox area that all investors have access to.  There is also a comprehensive site report from December in this area.

Plots 1&2 are now first fixed mechanical & electrical, fully insulated and boarded, windows are fixed and brickwork is 50% complete, and will be finished the first week of December.

Plots 3 & 4 have staircase fixed, are largely first fixed and will have windows fixed this week (first week of December). Brickwork is 20% complete

Plots 5 & 6 foundations are completed, ready for the timber frame to be erected 2nd week of December.

Plots 7,8,9 & 10 frames are now completed, roof tiling is underway, and the stairs to plots 7&8 will be fitted first week of December.

Internal CGIs have been completed for the lounge and master bedroom, and the kitchens have been designed.  Images can be viewed by clicking here.

View Coppenhall way site photos

View Coppenhall way site video

HCD10 – Bollin Heights

Our contractor is currently still on target for handing over 50% of the development to us by 08/12/17. The building is looking amazing after all the hard work that has gone into it. This will hopefully result in the last 4 units being sold at an even higher price.

We expect at least 13 of these apartments to complete before Christmas and to handover keys to buyers just before the Christmas shut down. As you will see from the pictures the exterior of the building is now being changed by re-cladding the building to modernise its appearance and the internals of the building are a far cry from its former incarnation as an office block. The 2nd floor has moved on with apartments being fully formed, plastered and the balconies being clad. We have the final touches to go for this first handover, including the remaining communal flooring, entrance hall tiling, building of the bin store, finishing off the 2nd floor roof, external cladding etc, however everything is in hand and being internally snagged by our development team. We expect our first occupancy to be in the week beginning the 18/12/17 and we are still confident to be off site before Q2 next year.

Unless you advise us that you would prefer to stay on until the end and carry on earning interest, then investors in this development will be paid out on a first in first out basis as the units complete.  You will be emailed when it is their turn to be paid out.

View latest Bollin Heights photos

HCD7 – Brundred Farm

We completed on the land purchase 30th November. We are currently waiting on the structural drawings to be sent to us before we can firm up a works programme and commit to build dates.  We should have these drawings by mid-December.

HCD5 – Bank Chambers

The development at Bank Chambers of the first 8 apartments is nearing completion.

The apartments are plaster boarded and the first 8 that will be handed over are either plastered or painted. Flat number 1 did have to go back on the market, however it has now been reserved again after a week back on the market for a £10,000 premium, which reflects the inflation in the market in Stockport. Unfortunately, due to a Christmas embargo in Stockport town centre we will not be able to get the required utilities connections between now and the 04/01/18, but we are pushing crown energy (Utilities partner) daily to get a final connection date.

Our designated contractors are working extremely hard to try and do what we can to get this over the line as quickly as possible.  At the moment we do not have firm dates for when the first units will be complete and ready to be sold as we are waiting on the utilities company to confirm installation dates. The field inspector from the utilities company is due to visit the site 2nd week in December, so post this meeting we should have a better idea of dates.

View latest Bank Chambers photos

HCD4 – Gratrix Park

By the end of the first week of December we will have completed on 50% of the properties at Gratrix Park. The last week of November 2017 we completed on 3 of the 4 apartments at Gratrix and as you can see from the attached pictures you can now get an idea of how the development will look when complete. Roby Close is 60% completed and the properties off Gratrix Lane are now at wall plate level.

The project management team are personally meeting buyers to handover keys and there are a number of pleased buyers, as we have managed to ensure they can move into their new homes before Christmas.

We will be completing on one or two further plots ahead of Christmas. We are still targeting to be completely off site by the end of February 2018, however the weather has been unfavourable to building work over the last month, so has slowed brick laying and roofing work on the remaining plots.

We have already paid out capital and interest to a number of the earlier investors in the Gratrix Park P1 loan, as we have completed on the property sales.  We will continue to pay out investors as the sales complete, and will email investors when it is their turn to be paid out.

View the latest Gratrix Park photos

HCD3 – The Woodlands

The development in Rotherham is making positive progress. As you will see from the images linked to below there are a number of properties that are completed externally. We are now moving into the internals of the properties and again things are coming together well. We are currently on target to finish the show house and complete on the first property by January.

Sales have started to progress, and we recently had a reservation for Plot 28. Further to this reservation, Plot 11’s mortgage has been approved, with the property being valued at £269,000, which makes it the most expensive property in the area. Our solicitors will be exchanging on this property sale the 2nd week of December.

Our appointed interior designers, David Phillips, will be visiting the show house the 2nd week of December to survey it for dressing and final finishes and our show home office is ready to be manned to aid sales. The development is starting to share up and come January 2018 we anticipate a number of reservations being made.

View the latest Woodlands photos

HCD2 – Alderley Edge

Our contractors have managed to resolve the issues with the roof design at Number 10, Congleton Road, so we have finally been able to order the correct steel for the complex roof and communal space window at the front of the building. The contractor and our architects, Howard and Seddon, have worked together in re-designing the roof to reduce the amount of steel in the build, so more of it can be made from timber, which should allow us to regain a couple of weeks back that we have previously lost.

The images below should show how the front elevation to Congleton road will look once complete, and also show the remainder of the brick work to the top floor of the building. The building itself is starting to look quite impressive and is being noticed for all the right reasons with sales enquiries high and prospective buyers making multiple site visits and meetings to discuss the purchase with our estate agent, Sebastian’s of Cheshire.

Our development team are currently progressing conversations with kitchen and bathroom suppliers, whilst taking continued advice from Keates interiors of Cheshire to ensure the entire scheme comes together as a whole and is appropriately designed for this high calibre building.

We have taken a view that we need more garage parking, following feedback from prospective buyers, so we have applied to amend our planning, specifically to give us 5/6 garage spaces instead of the 2 tandem garages that have currently been granted.

Our contractors have lined up all the necessary sub-contractors for the internal fit out, and we are aiming to hit the ground running in January once the roof is on.

Currently we are on schedule to have the site completed by April 2018, with hopefully all units sold.

See latest Alderley Edge images including proposed CGI kitchen image, and elevations and plans for Apartment 1.

View the latest Alderley Edge photos

HCP156 – Station Road, Marple

The sale is still on track, and we are sorting out various legal documents required for the due diligence.  We are aiming to have the sale exchanged on before Christmas.

 

The Ticking Retirement Timebomb & How To Protect Yourself

The Ticking Retirement Timebomb & How To Protect Yourself

On Monday 4th December Frazer presented a webinar entitled The Ticking Retirement Timebomb and How To Protect Yourself.

You can view a recording of his presentation here.

As promised on the night, we have collated all questions asked on the night and provided responses below.

If you have further questions please get in touch with our friendly member support team (Damian and Nigel) in the following ways:

Email: [email protected], or [email protected]

Call: 0161 667 4264

We are here to help 9-6 Monday-Friday. 

Questions and Answers…

“Do you have any statistics about how often your properties lose in value and the investors lose their money?”

There has been no loss of in any of our peer to peer loans or development deals. The only time our investors have ever lost money was in respect of one speculative off plan deal for a development in Sutton, Surrey. That particular deal was marketed as being high risk. It is something we offered as a one off and will not be offering again.

“When is The House Crowd going to get full FCA accreditation?”

Hopefully any time now. Our case manager has approved our application and we are just waiting for it to be signed off by the FCA. 

I am coming up 50 years old. Due to a combination of circumstances I have no retirement plan in place. I have fortunately paid off all my debts, but have a substantial mortgage. It feels that retirement planning or mortgage servicing are mutually exclusive?”

Unfortunately, we cannot offer financial advice so can’t offer an opinion on whether it’s best for you to pay your mortgage down quickly or look towards alternative investments.

What we can say is that, peer to peer lending generally offers higher interest, but does come with an element of risk. We do everything we can to mitigate these risks but the decision to invest is very much down to you, your personal circumstances and your appetite for risk (however small that risk actually is). 

“Can you explain what happens to my money if the person lending it doesn’t repay the loan on time?”

Re – Peer to peer lending – I have recently written explaining how our lending process works and what happens if a borrower doesn’t repay on time. You can read more here.

Re – Property development crowdfunding – Repayment is dependent on us selling the houses. If it takes longer to sell than estimated then you will be paid back later, but you will continue to earn interest until you are repaid.

“I was planning on investing a few months ago but found the sign-up process quite difficult. Can you help me with these steps?”

If you’re having any problems registering your account you can contact our Member Support team – Damian and Nigel. They can help you through the process and answer your questions. Our office hours are 9-6 Monday-Friday.

Also, you’ll be pleased to know we will be launching a brand-new website in early 2018. Over the past 12 months we have recruited an in-house tech team who have been working to make everything easier for our members. We’re pretty excited about this development and will send more details in the New Year.

“I like the idea of peer to peer lending but I don’t have the time to keep on top of everything you have to offer. Is there some way I can set up my account to invest in certain products automatically?”

We have exciting plans to develop new, easier ‘auto invest’ products in 2018. This means you can invest your funds into one product and we will spread them into a more diverse portfolio. You just earn a fixed rate and don’t have to do anything more.

In the meantime, you may be interested to know we offer free text alerts to notify people when we launch a new investment opportunity. You can join this free service by texting THC to 82228 (service applies to UK mobiles only).

“I filled in a form for the free info pack a while back but when I go to login at The House Crowd it doesn’t work. Please can you help?”

Due to the way our systems are set up at the moment if you downloaded a free information pack on our website you won’t automatically be registered as a House Crowd member.

Just click on this link to register your free account. Remember to complete your profile as well – this only takes a couple of minutes. Once done you’ll be able to view all our current investments in more detail and receive free email alerts when new investments are launched.

Do you charge any fees if I invest with you?”

No, the interest percentage on each product quoted is the amount paid to you, there are no deductions.

“I really enjoyed the webinar. Are you planning on doing more in the future?”

Thanks for your positive feedback! We are planning a new webinar explaining how our property development crowdfunded loans work in the New Year. We will send you an invite a week or two in advance of that one.

 

 

 

 

Frazer’s blog – Interest rate rises, latest House Crowd news and more…

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.

Frazer

Development Update – November 2017

Please find below the latest updates on all our ongoing developments as of the end of October 2017.  There are also links to the latest images for earlier developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and units sold, and a number also have more than one round of funding, repayable at different stages of the build.  For information on the estimated repayment date of the phases of development loans you are invested in, please refer to the investment pack you downloaded when you invested, and to the Development Loans Payment Schedule, also available on the project status page on the website.

HCD17 – Parkside Phase 1

We completed the purchase of this site first week of November.  The main contractor has been appointed and a pre-start meeting was held 7th November.

Detailed design including new kitchen designs have been carried out in the background pre-purchase and a physical start on site is due November 21st.

HCD15 – Buckton View

We have completed the purchase of this site 6th October. Our nominated builders, CPUK, are now fully appointed, have discharged the pre-start planning conditions and start work on the site week commencing 13th November subject to Local Authority sign off.

A re-work of the house designs to make the interior space work better has been completed and can be viewed by clicking here.

HCD14 – Old Library, Frodsham

Work commenced on the site 7th November with a full measured survey and strip out of the existing building.  A more detailed programme of work is currently being prepared by the design team.

HCD13 – Coppenhall

After much discussion with the local council, this development is now officially called “Springfields”.  The postal address will be: 1-10 Springfields, Coppenhall Way, Sandbach. This name will be used in marketing material for the sale of the properties.

Works are progressing well at this development.  Our main contractors have reported a one-week delay (this was due to the engineer’s drawings and it is expected this time will be recovered).  We have received a detailed programme that shows handover of plots one & two pre-Christmas allowing us to present the show house before the end of January 2018 (this was originally projected for the end of March 2018).

Plots 1&2 have the roof completed, windows on site ready for install, and the staircases are in the process of being constructed.

Plots 3&4 are in the process of being roofed.

Plots 7,8,9&10 have foundations complete and are being concreted.  Timber frames have been produced and will be delivered to site week commencing 6th November.

View the latest Coppenhall photos

View latest site video

View the houses for sale on Rightmove

HCD10 – Bollin Heights

The development at Bollin Heights is entering into its final month before we anticipate being able to release the first set of apartments to buyers. The pictures attached to this update include the final windows and doors going into phase 1 and the decorated communal areas. We have some work to do on the external areas, including the entrance gates and parking areas, but our contractor has this all in hand. We are still very much targeting to serve practical completion notices for circa 15 apartments in December.

Our progress with the extension has been steady (see photos on the link below), as we were awaiting a re-design of steel work from our appointed structural engineers; however we now have all necessary information to finish the extension. We still anticipate that we will be completely off site by April 2018.

Sebastians (our estate agent) have continued to receive enquiries for the remaining plots and have had multiple viewings by the same buyers, so we hope to have further sales completed soon. Currently we have 23 out of 32 of the apartments either exchanged or reserved with exchange imminent.

Please note that investors will be repaid on a first in first out basis with phase 1 investors being repaid first.

View the latest Bollin Heights photos

HCD7 – Brundred Farm

We are currently raising investment for this project, as we plan to erect a new house on this site, plus demolish the old one and replace with a newer property. We are aiming to complete on the site purchase 24th November.

HCD5 – Bank Chambers

The Bank Chambers development is starting to shape up nicely, as you will see from the pictures linked to below.

The bathrooms are currently being tiled, kitchens are being fitted and doors are going on. Flats 2-7 are now about 80-90% finished and plots 8 & 9 are not far behind. We are currently progressing the necessary works to finish the communal spaces and flat 1. We are pushing our contractor to ensure the first set of purchasers can move in by Christmas, however we do not want to compromise on quality so we are mindful of this as wish to maintain the qualities of this lovely old building.

View the latest Bank Chambers pictures

HCD4 – Gratrix Park

We have now handed over a total of 5 properties at Gratrix Park. The owners of numbers 10 – 14 are all either moved in or are about to. We have scheduled another 5 properties to be handed over before Christmas including plots 1-4 and plot 16. Our project programme still has all contractors completely off site in February.

Our contractors are keeping in touch with buyers and ensuring their expectations are managed with regards to moving in dates. We have 14 properties exchanged on, 2 more are anticipated to exchange week commencing 14th November and the remaining plots are all reserved through either Jordan Fishwick and Sebastian’s estate agencies. We anticipate having all plots exchanged on by mid-December.

The pictures linked to below show the next set of finished kitchens and also the finished detached properties about a week before handover on plots 11 & 10.

We have already started paying out the earlier investors in this development, and will continue to do so on a first in first out basis as sales are completed.

View the latest Gratrix Park photos.

HCD3 – The Woodlands

We are now in our 6th month on the build and progress has been pleasingly steady. We now have all 28 foundations in for the houses and blockwork progressing well on the first 13 units.

The show house is now coming together windows have been installed this week, so it’s possible to see how the buildings will look when complete.

We plan to have a soft opening of the show house this side of Christmas and a grand opening in early January which we hope will progress off-plan sales. The new hoardings will soon be erected, which should help make the entire site a more appealing prospect.

We believe the internal specification will impress potential buyers when they can view the show home, and with Help to Buy as a marketing tool, and the houses starting at £172,000 in a gated development, we hope that these properties will be an attractive proposition for home buyers, especially as there is an undersupply of houses in this area.

Our preferred estate agent Sebastians has started to book in appointments for viewing the show house in January and there has been an encouraging amount of interest to date.

View the latest Woodlands site photos

View the latest CGIs of proposed buildings

HCD2 – Alderley Edge

Number 10 Alderley Edge has progressed well over the last month. We are now up to the final floor and as you can see from the pictures linked to below the views from the penthouse apartment are rather impressive (or would be if the weather wasn’t being particularly Manchester like on the day we took the photos). We have had to have the steel roof re-designed and our contractor is trying to expedite the fitting process of this by incorporating timber trusses into the roof and omitting some of the steel.

Our appointed interior designer has been carrying out some extremely impressive work on aiding us in the sourcing of kitchens, bathrooms and the overall finishing of the apartments, so we are confident they will surpass expectations.

Sebastians are still receiving regular enquiries for sales and we trust once the build has progress further there will be commitment to buy.

We are feeling quite excited about how the buildings will look when complete. The development is scheduled to be finished in March/April 2018.

View latest Alderley Edge photos

HCP156 – Station Road, Marple

We have had two offers on the property since our last update. We have accepted one of them. Solicitors and surveyors have been instructed.

 

Performance Statistics: October 2017

Performance Statistics: October 2017

Please see below for our repayment stats for October 2017.  These list total dividends, interest and any capital repayments made in that month covering our B2L investments, development and P2P loans, as well as the year’s returns to date. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

October 2017

  • Projects and loans paid out against = 30
  • Total value of dividends and interest paid = £153,220.52
  • Total value of capital repaid = £1,296,000.00
  • Total number of investors paid = 935

Total for 2017 So Far

  • Projects and loans paid out against = 243
  • Total value of dividends and interest paid = £1,178,783.91
  • Total value of capital repaid = £7,288,307.39
  • Total number of investors paid = 7,048

Cumulative (from January 2013)

  • Project paid out against = 677
  • Total value of dividends and interest paid = £2,314,408.91
  • Total value of capital repaid = £12,294,027.39
  • Total number of investors paid = 15,546

 


To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

Register Now for more Info

View our Property Investments

 

Performance Statistics: September 2017

Performance Statistics: September 2017

Please see below for our repayment stats for September 2017.  These list total dividends, interest and any capital repayments made in that month covering our B2L investments, development and P2P loans, as well as the year’s returns to date. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

September 2017

  • Projects and loans paid out against = 15
  • Total value of dividends and interest paid = £77,384.42
  • Total value of capital repaid = £400,000.00
  • Total number of investors paid = 407

Total for 2017 So Far

  • Projects and loans paid out against = 216
  • Total value of dividends and interest paid = £1,025,563.39
  • Total value of capital repaid = £5,592,307.39
  • Total number of investors paid = 6,113

Cumulative (from January 2013)

  • Project paid out against = 650
  • Total value of dividends and interest paid = £2,161,188.39
  • Total value of capital repaid = £10,998,027.39
  • Total number of investors paid = 14,611
  • Actual Default Rates 20.0%*

*Development and bridging data. Based on redeemed loans with a 8 week tolerance threshold.


To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

Register Now for more Info

View our Property Investments

 

Development Update – October 2017

Please find below the latest updates on all our ongoing developments as of the start of October 2017.  There are also links to the latest images for most of the developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and units sold, and a number also have more than one round of funding, repayable at different stages of the build.  For information on the estimated repayment date of the phases of development loans you are invested in, please refer to the investment pack you downloaded when you invested, and to the Development Loans Payment Schedule, also available on the project status page on the website.

HCD16 – Parkside Phase

Fund raise is well under way for acquisition.  In the interim we have been finalising specification, materials and programme with our Contractor and will be in a position to sign contracts as soon as we complete.

HCD15 – Buckton View

Completion of the site purchase occurred on Friday October 6th.  We have finalised the contract price and documents have been issued to our main contractor for execution.  Detailed design will commence next week with a start on site expected by the end of November.  In the interim we will be satisfying pre-start planning conditions, agreeing materials and placing orders for services.

HCD14 – Old Library, Frodsham

We have completed the purchase and also finalised the specification and appointed our main contractor.  A start on site is imminent and we will be able to provide a detailed programme during our next update.  Following local press coverage we have had strong interest in the project with three potential purchasers waiting to see a start on site.

HCD13 – Coppenhall

As of 4th October the first floor has been constructed for plots 1 & 2 with the roof expected to go on by the end of the week.  Plots 3 & 4 foundations are complete and the slab has been poured.  Timber frame will start erection next week!  Setting out of plots 7-10 has been done and foundations will be excavated next week.  We are aiming to have the show flats available Feb/Mar 2018.

View the houses for sale on Rightmove

View the latest Coppenhall photos

View latest site video

HCD10 – Bollin Heights

Bollin Heights phase 1 (the first 24 apartments) is now moving into its final programmed few months on the build. We currently have the roof off on apartments 26 and 27 and they will soon be back to being water tight. The extension is moving forward well (despite delays caused by brick laying contractors) after Kingstone found and appointed a new sub-contracting firm to build the super structure. The current programme shows the extension super structure being completed in November.

Legally we believed that we had a complete right of way to bring new services (Including water and electric) down into the building through the neighbouring property. This turns out to not be as black and white as we were advised, which now requires us to re-design a work around. We now will be using a water tank and pump system to service part of the building. This work should be complete within the next 5 weeks and we will then have all the essential services into the building ahead of first occupation. However, we are still negotiating the supply of fibre-optic broadband and removal of the bollards.

Sales have continued to progress and Sebastian’s estate agents are receiving plenty of enquiries; however they have suggested some fresh marketing would help to secure the sales of the final few properties, so we are currently arranging this.

See latest Bollin Heights photos

HCD7 – Brundred Farm

After considering all options we have decided that the best route is for us to develop the site ourselves into two luxury houses that local agents believe will sell for upwards of £1.3M each.

We are planning to launch the crowdfunding campaign for the project shortly.

HCD5 – Bank Chambers

We now believe we are into the last 8 – 10 weeks on site at Bank Chambers. We have just overcome a 6-month battle with Stockport building control over the initial notice for building regulations, which has now been approved. However, on top of this being a generally difficult build partially due to the listed status, this has caused a completely uncontrollable level of delay. We were also let down at the last minute by our preferred roofing contractor meaning we had to delay stripping off the roof and finishing the two attic flats.

On a more positive note we are starting to see the flats take shape and they are looking fantastic. The contractors are working extremely hard and being meticulous about the sensitive final finish for this listed building.

The below pictures show that this project is moving into the final stages.

See latest Bank Chambers photos

HCD4 – Gratrix Park

Two families have now moved into Gratrix Park and both have declared themselves extremely happy with their new homes. We are making an effort to now deliver plots 10, 11 & 14 within the next 3 weeks. We have revised the time frame on the remainder of the project, which will ensure we keep the same level of quality up with the new homes. Realistic time frame for this project will mean we will be off site by the end of February 2018.

The internal project team working on this development are doing a rigorous process of pre-snagging & checking of the final finishes post sign off from the building inspector and warranty provider.

The below pictures show another a mixture of plot 13 & 14, which are the first two semi-detached properties that will be completed.

View latest Gratrix Park photos

HCD3 – The Woodlands

The build programme is on schedule and the show house should be ready in early January. Due to the Building Control and Yorkshire water not accepting the initial design for the site drainage, we have had to re-design it, which has increased costs; however we believe this issue is now pretty much resolved, so shouldn’t further slow progress.

We have had our help to buy application accepted for these properties, and as before we are selling all houses freehold, which will hopefully attract further buyers. However, the key to the sales in Rotherham is the show house, which cannot be built until all utilities and services are in place.

View the latest Woodlands photos

HCD2 – Alderley Edge

The development at Alderley has stalled slightly over the last few weeks, as the steel work contractor we use for Alderley Edge was finishing off the roof at our Bollin Heights development, which has led to a delay of about two weeks with regards to Alderley Edge. However, the work is due to commence on Monday 9th October.

We have an application in for two garages to be added, which will make a total of four and we have the support of the local planning authority for this. The decision on this is due in 5 weeks. We have appointed an interior designer to assist with the finishing of the communal areas and also advise on kitchens and bathroom design.

The project is still on track and we do have significant sales interest, however our sales agent has advised that finishing the externals will be the key to securing the final sales.

One of the properties is currently reserved.

Those investors in Phase 1 and Phase 2 of this development who wished to exit the investment have been repaid their capital and interest.

The pictures below show the external progress.

View images of the Alderley Edge development

HCP156 – Station Road, Marple

We have had a few positive viewings, who gave good feedback on the house, but unfortunately they have only just put their properties on the market and until they receive an offer we cannot move forward with any of the potential buyers.

We are also looking at marketing the property with an online sales agency, on a no sell no fee option, and we will then attend the viewings to get a better understanding of buyer’s expectations/views.  This will also reduce agency costs.

Performance Statistics: August 2017

Performance Statistics: August 2017

Please see below for our repayment stats for August 2017.  These list total dividends, interest and any capital repayments made in that month covering our B2L investments, development and P2P loans, as well as the year’s returns to date. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

August 2017

  • Projects and loans paid out against = 36
  • Total value of dividends and interest paid = £115,288.91
  • Total value of capital repaid = £475,000.00
  • Total number of investors paid = 1,074

Total for 2017 So Far

  • Projects and loans paid out against = 201
  • Total value of dividends and interest paid = £948,178.97
  • Total value of capital repaid = £5,592,307.39
  • Total number of investors paid = 5,706

Cumulative (from January 2013)

  • Project paid out against = 635
  • Total value of dividends and interest paid = £2,083,803.97
  • Total value of capital repaid = £10,598,027.39
  • Total number of investors paid = 14,204

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Development Update – September 2017

Please find below the latest updates on all our ongoing developments as of the beginning of September 2017.  There are also links to the latest images for most of the developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and all units sold, and a number also have more than one round of funding, repayable at different stages of the build.  For information on the estimated repayment date of the phases of development loans you are invested in, please refer to the investment pack you downloaded when you invested, and to the Development Loans Payment Schedule, also available on the project status page on the website.

HCD14 – Old Library, Frodsham

There has been a slight delay with completion on purchasing this property due to lawyers (and the staff) being either on holiday or incapacitated. We expect to complete the acquisition by the end of this week (9th September). This hasn’t stopped us making good progress in the background; we have chosen our contractor and they have appointed both an architect and an engineer to progress the detailed design work and satisfy the pre-start conditions. We have also received a number of approaches from prospective purchasers for the finished units.

Once the property purchase is complete we will be able to advise all investors of their interest calculation start date.

HCD13 – Coppenhall

As you may already know, work commenced on August 14th, 2017. Following our last video – there will be another later this week – levels have been set for the plots, road and drainage.  Kerbs to the road are being set and foundations have been dug for plots 1 & 2.  The timber frame has been designed and off-site manufacture is underway. Art work for the hoardings has been finalised and Justin on our development team is meeting with Stephenson Browne this week to plan the launch of the scheme for sale (we already have a buyer that wishes to reserve).

View the latest Coppenhall photos

View the video filmed August 2017 showing the site

View the latest video of the site as of 6th Sept 2017

HCD10 – Bollin Heights

All planning is now in place and all work scheduled in to complete the project at Bollin Heights. We are confident about being off site by April 2018.

Sales have continued and we have 24 apartments sold, so only 8 left to sell on the entire development. Currently we have 9 apartments finished, 8 apartments are between 70 – 80% finished and 7 are 40% are the way there. The final 8 apartments in the extension will be delivered by April 2018.

The development is receiving a lot of attention from potential buyers, businesses and even local developers, so we do feel that despite any setbacks we have had we are now confident of selling all the remaining units, keeping the build on schedule and having 32 happy buyers!

Photos are available below, including 4 recently taken professional shots.

View Bollin Heights photos

HCD7 – Brundred Farm

The Brundred Farm planning appeal has been allowed which is excellent news.

We will now be considering how to move forward on this and either develop the site or sell to another developer with planning and take the profit.

HCD5 – Bank Chambers

The Bank Chambers development is steadily progressing, but over the last 4 weeks we are still having issues with building control agreeing to the layouts of the apartments and the level of fire protection required. This has had significant knock on effects, as we have not been able to close off apartments or finish the first fix electrics, as we weren’t sure if we would need to make changes to what had already been done. You will see from one of the images below we have been obliged to fit a sprinkler system, which was not an original requirement so was not in the budget. However, we have made progress and have negotiated a conditional exchange, based on:

  • Water calculation
  • Water consumption to be confirmed as max 125l/s per person
  • Pre-completion sound testing required
  • Confirmation that detection within kitchens is of the optical smoke type
  • Confirmation that water mist system is designed in accordance with relevant BS

Due to these delays, some of the sub-contractors we had lined up to carry out work have had to move on to other jobs and cannot fit us back in for a couple of weeks, thus our completion schedule has moved back. We are constantly updating the buyers and ensuring that despite the delays they kept up to date with what is happening.

You will be able to see in the images linked to below that we have now put the new stairs in and we are starting to form the attic apartments.

View the latest Bank Chambers photos

HCD4 – Gratrix Park

5 of the properties are now ready to complete on the sales as soon as the utilities are connected.  We are getting closer and closer to our first completion at Gratrix Park and currently we should be serving our first completion notice on Friday. The delay on the first plot was caused by an issue with getting the utilities connected that is now in the process of being resolved. Despite the issues caused by delays to the utilities being installed, we expect the buyer of Plot 12 to move in at some point the week beginning the 11th of September. Plot 12 will be quickly followed by plot 13, 14 and 11.

Our ground workers and landscapers have worked hard to make up time after the major delay that was caused by United Utilities on the sewer diversion, and the site is really taking shape. We now believe we are in a good place to be completely off site by February 2018 if not before.

View latest Gratrix Park photos

HCD3 – The Woodlands

The Rotherham site is moving at a good pace and we are about 6-8 weeks away from having the show house ready. Sales have slowed over the summer period, which is to be expected with the school holidays. Our estate agent Sebastian’s have indicated that the show home will increase the number of enquiries, so we believe this is key to sales continuing.

We will soon be starting the utilities connections for the site and laying the major site drainage, so we are still on course at the minute to have our first buyers in by Christmas.

View the latest Woodland images

HCD2 – Alderley Edge

Progress has been steady over the last month, but as the pictures linked to below will show we are now putting the final floor on this development and soon we will be doing the seal for the roof. You can almost see what an amazing panoramic view the penthouse will have of the Cheshire countryside. We are currently dealing with multiple kitchen and bathroom providers, plus taking advice from our interior designer to ensure we get the truly opulent look and feel that was originally planned.

As originally planned we were going to sell this apartments off plan and after 4 days of being live on Rightmove we have taken our first reservation for flat number 2 which has been sold for £899,999, substantially over the originally anticipated price. We have considerable amount of interest in the other flats and we have multiple viewings lined up.

We do still have one planning application going through for two additional garages, and we are confident of winning this.

All in all, a very positive month for Number 10, Congleton Road and we expect to have all units sold before the end of the build!

View the latest Alderley Edge pictures

HCD1 – Regent St.

All investors have now been repaid their capital and received their interest as all the properties have been sold subject to contract.