Finnygook Lane Loans, ISA eligible, P2P investment, offering 16% p.a. return, interest paid monthly.
Portwrinkle Developments and Hospitality Ltd would like to borrow a total of £272,500 via a PDL loan to finance the development of three detached houses on the coast in Portwrinkle, Cornwall. The Loan is classed as a PDL Develop product because the funding will be used to part finance the project through the construction phase of the project.
How investing in the Finnygook Lane P2P investment works
The investment offers 16% p.a. over a 18 month term with interest paid monthly and principal invested repaid at the end of the term. The funding will be mezzanine funding to top up senior lending from West One who are providing a total of £1,755,000. Together with the PDL Develop the Loan to Gross Development Value (LTGDV) is 75.09%.
Giving you better security on your investment
The investment benefits from multiple layers of security. First, a second ranking debenture over the assets, property, and undertaking of the Borrower.
Second, a second ranking legal charge over the Property of the Borrower.
Third, there will be a personal guarantee provided by the Guarantor(s).
Finally, the principal amount of the aggregate of all Loans and the loan advanced by the Senior Lender used to fund the development, is not greater than 75% of the Gross Development Value and 90% of the Loan to Cost of the property development.
So how much interest will I receive?
It’s simple – if you invest £1000 (for example) you receive £13.33 interest monthly and capital at the end of the 18 month loan term. Interest is paid directly into your account on the Crowdstacker P2P platform or your bank account. Take a look at our interest calculator below to work out what your specific investment could yield.
Can I hold my investment tax efficiently?
At Crowdstacker we offer two accounts which offer you tax efficient benefits:
Crowdstacker Innovative Finance ISA - pays interest gross and allows you to earn interest tax-free. You can invest up to £20,000 in this tax year 2023/24.*
Crowdstacker P2P Account - pays interest gross and is eligible for up to £1,000 tax-free interest under the Personal Savings Allowance.*
*Please note tax benefits are subject to your own personal tax status.
More about the development
The houses will each have four bedrooms, en-suite bathrooms, integrated garages and sea views from the upper floors. The houses will be very modern in design and there will be a first floor terrace and roof terrace incorporated into each house to make the most of the coastal views. Portwrinkle itself is a popular domestic tourism destination which offers much of what is expected from Cornish seaside holidays. Essentials such as supermarkets, GP surgeries and sports facilities can be found in nearby St Germans, Saltash and Torpoint. St Germans also has a railway station providing train access to Bristol, London and Cardiff.
More about Crowdstacker
Crowdstacker is an award-winning P2P investment and ISA provider, bringing you handpicked investments, many of which offer a social or community benefit.
Please note the target raise will be filled on a first come first-served basis.
Your capital is at risk when you lend to businesses.