A new property crowdfunding platform named Propnology is set to launch after receiving full authorisation from the Financial Conduct Authority.
Like its competitors, Propnology is aiming to lower the barriers to entry traditionally associated with buy-to-let property investment.
It differs from existing property crowdfunding platforms by purchasing traditional buy-to-let investments and keeping them for between three and ten years rather than self-sourcing and renovating properties.
Propnology's minimum investment threshold is £500 and once a property starts generating rental income investors will receive 100% of the net income while profits will be distributed in the form of a dividend on a quarterly basis.
“Propnology have established strategic partnerships with key players who understand their local market and the value that crowdfunding brings. Our strong relationships with developers, estate agents, sourcing and investment companies provide unique access to opportunities that would otherwise be inaccessible,” says Paul Lamm, one of the site's co-founders.
“Our partner network is being continually developed to ensure we offer a geographically diverse choice of investments, across different property classes, to meet the individual investment objectives of our investors.”
CrowdLords and Property Partner are two property crowdfunding platforms to hit the headlines in recent months. The latter announced the launch of its first TV advertising campaign in September.
Propnology is ready to view and interested parties can register before its official launch on October 19.
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