Peer-to-peer lender to launch ‘People’s Mortgage’
A peer-to-peer lending platform has secured new funding to launch its 'People's Mortage' product later this year.
JustUs has announced that its second round of Crowdcube funding is open and has already reached its £1.3m target after three days.
It previously raised £1.2m after securing £600,000 through crowdfunding from private investors which was then matched in convertible loan notes from the British Business Bank through its future fund initiative.
JustUs already provides crowdfunded financial products for consumers with its JustUs ISA and is FCA approved to provide residential mortgages.
The People’s Mortgage is planned to launch in Q2 of this year, offering investors the opportunity to fund 2.5% fixed rate residential mortgages for homeowners, which are IFISA eligible.
JustUs also offers a bespoke loan service platform, SBILS.co.uk - built in conjunction with ‘Excluded UK’ - to offer alternative financial support to businesses excluded from Government loans and grants during the Covid pandemic.
Its parent company, eMoneyHub, also owns price comparison site Moneybrain and cryptocurrency BiPS.
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