Fruitful wants to cut UK banks out of the saving and mortgage lending process
Jan09
Crowdsourcing pretty much anything is standard fare nowadays. At the end of last year, we brought you news of Crowdestates, a startup that wants to crowdfund the cash for people’s home improvements – before ultimately moving up to offering full mortgage amounts. Another new entrant in the peer-to-peer lending space is Liverpool-based Fruitful, a platform that’s promising around 6 percent interest rates on money people choose to invest with the platform. That money is then lent out to people wanting to take out investment, development or commercial mortgages against properties. It’s a pretty simple equation: lenders provide up to £1 million that borrowers can use to…
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