LandlordInvest’s profits and revenue soared in 2021

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Peer-to-peer lending platform LandlordInvest saw its profits and revenue surge last year, while the platform’s chief executive predicts further growth for 2022.

In the 12 months to December 31, 2021, LandlordInvest saw its profits rise to £67,040 from a profit of £1,809 the previous year.

The mortgage lender also saw its turnover increase by 91.3% in 2021 compared to 2020.

Read more: A dozen real estate IFISAs to watch for this tax year

Managing Director Filip Karadaghi said News Peer2Peer Finance that it expects profits and revenue to “at least” double again by the end of 2022.

The platform also increased the number of loans granted last year. In 2020, LandlordInvest saw its loan volumes fall by 30% as the pandemic temporarily paralyzed the real estate sector.

Earlier this year, LandlordInvest secured its first mezzanine loan with Octopus Real Estate to finance the development of a five-storey building in London.

Karadaghi recently said News Peer2Peer Finance that he plans to expand LandlordInvest’s operations beyond London, with Scotland, Northern Ireland and the Republic of Ireland being considered as possible destinations.

“We are one of the few P2P lenders that have ever made a profit,” Karadaghi said.

“We are happy with that. And as far as plans for 2022 go, we’re just continuing what we’ve been doing, although we’re aiming to grow a bit faster this year. Barring significant economic impact…we should be able to meet our targets.

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