The ascendant secured lending platform Wellesley & Co. has broken down its own record en route to funding the largest loan in peer-to-peer lending history.
The previous record loan size within peer-to-peer industry was £8.3m, set by Wellesley back in April. The rapidly growing platform has now outdone itself – notching a staggering £10.8m property loan. The mammoth loan is secured against Burwalls – a historic mansion situated alongside the Clifton Suspension Bridge and the Avon Gorge in Bristol. The money will be used by the property developer Kersfield in order to purchase and renovate the 142 year old building and grounds to create five new apartments, six build houses and a converted lodge.
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