Once again, British banks are being criticised; this time for letting down property investors who have successfully bid at residential property auctions. It has been reported that these investors, many of whom are buy-to-let, are left scrambling to source other forms of finance as their auction deal often leaves them legally bound to complete within strict timeframes, usually just 28 days.
So where does this leave these property investors? With very little choice and often relying on short-term finance.
This is a property investment strategy we would certainly not recommend! Which is probably why weâ€™ve had so much interest since our launch, from those wanting to invest in property while avoiding issues such as these.
The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit http://thehousecrowd.com/thehousecrowd/how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their property investments (for more information about us, visit http://thehousecrowd.com/thehousecrowd/about/our-manifesto/). If youâ€™ve read enough and want to invest now, visit http://thehousecrowd.com/thehousecrowd/invest-in-property/).