Friday, 9 September 2016

Funding Circle call a halt to property loans - what will this mean for Verto Homes?


As we have been reporting, Funding Circle have been under the cosh over loans for the Verto Homes development at Towan Heights, Newquay.


Word on the FC forum is that they have now put a stop to any new loans to any future property developers. The Towan Heights development, featured prominently in the recent Crowdcube Verto Homes funding pitch, still has overdue loans outstanding. A fact that was never mentioned on the Verto Homes Crowdcube pitch.

One point which was hammered home in the pitch, was that Verto Homes were FC's largest property client. Well looks like they may have to find a new source from now on. 

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