Proplend analysis reveals that Proplend is a UK-based p2p lending platform that focuses on corporate loans backed by Income Generating Commercial Property. Proplend's loans start at £150,000 and may reach £1 million. Since its inception, this site has supported loans of more than £23 million and none of them has defaulted.

Proplend Ltd is approved and supervised by the Financial Conduct Authority and entered in the Financial Services Register under company registration number 726646. The platform was introduced by a team of experts in 2014. The CEO is Brian Bartaby, who has a very good experience in financial products and real estate investment. IFISA was launched by Proplend in 2017.

Key Facts


  • User-friendly website interface and investor dashboard
  • Relatively high ROI on the UK market
  • Transparency
  • Higher number of loans in the secondary market


  • Long process of registration
  • No live support offered
  • More formal registration process for foreign investors

What does Proplend do?

Proplend handles real estate lending in the United Kingdom, usually to owners of residential properties or commercial properties such as restaurants, business parks and hotels.

It also allows for some short-term (bridging) loans, such as loans for the acquisition of land for real estate development. It does not, however, make loans to actually develop property.

Returns for lenders of 8.55 percent are projected for lenders following bad debts.

When did Proplend get started?

Proplend first funded a loan in 2014 and has issued 95 million pounds in loans.

What are the interesting or special things about Proplend?

Proplend's greatest strength lies in the protection that borrowers provide to lenders.

Often, borrowers also receive rent on their real estate, which is more than the monthly payment of the loan.

More than that, borrowers are always strictly limited in how much they can borrow when opposed to the valuation of the property.

Lenders are in a position to choose the level of risk and reward they want, on the basis of deciding in advance whether they will come first, second or third in the queue to recover their money if the loan turns out to be bad.

For most of the last six years, Proplend has had a good record of allowing lenders to withdraw early – before the borrower repays. Although Proplend will not always manage to assist you exit early, its average exit times compare favorably with many other P2P and IFISA providers.

Proplend review: how does Proplend operate?


Proplend and the Coronavirus

It was quite hard for Proplend, but it helped lead its borrowers through the pandemic, and most borrowers paid interest where it was due. Most of the loans have an interest fund, which covered the difference, and there are still significant reserves remaining. A number of loans have been postponed, but the plan to nudge each of these loans back to normal looks really promising. I don't expect any lender losses, particularly if lenders have taken measures to spread their money through loans.

As of the end of June 2020, significantly fewer Proplend loans with 4thWay PLUS Scores are either late or poor than we had expected in our rating models for a severe recession and property crash. This ensures that there still tends to be a very wide margin of protection for lenders.

Proplend Review: How good are the loans?

Lenders in Proplend's "Tranche A" loans are covered by a property security interest that is at least twice the size of the loan. It is extremely strong liability management for lenders. If the loan turns out to be wrong, any forced selling of the property will have to return less than half the price of the property to the lender before you lose a part of your initial loan.

Lenders in tranches B and C tend to take riskier means of loans, with a greater risk of defaults in the event that the loan is poor. Lenders should combine all tranches with a different risk-reward balance.

Proplend's Loans to Rental Property

Many loans – of all tranches – are secured against assets that collect rent. The combination of rent and real-estate protection significantly reduces the inherent risks as it reduces the chances of bad loans and increases the chances of bad debt recovery.

In terms of its tranche A loans, the inherent risk of lending is half the value of property, and receiving rent is lower than any other form of P2P property lending currently available in the United Kingdom and, indeed, any other type of non-property lending.

Proplend's Short-term Loans for Land

Proplend has started to build a good record of complete repayments of its short-term (bridging) non-rental property loans over the last few years. They make up about one-quarter of all the loans.

When these loans were subject to late repayment, Proplend has so far turned them around quickly. The lenders got all their money back, plus interest.

Don't forget the last point. This is common for a large proportion of the bridging loans - to fall late when they are paid off. What is crucial is a strong record of speeding up late repayment, and doing this is an significant sign of quality for these types of loans.

Proplend's Refinancing of Loans

Proplend allows borrowers to re-borrow ('refinance') when the loan comes to the end of its duration, although this has not been allowed very frequently, which is encouraging. (The proliferation of refinancing would possibly have meant that issues with debts were purposely thrown out of the way.)

Proplend needs to build a refinanced loan record before we can see how it works. It's too early to tell for now. Lenders can resist the temptation to lend in too many refinances for now, certainly in tranches B and C. For example, four bridging loans have been refinanced, and three of them are now late, even though they are paying interest. This may well be a temporary, pandemic-related setback, but you should still consider restricting the amount of refinanced bridging loans.

Lending Processes

In spite of the proliferation of applicants for loans, Proplend remained picky on the loans that he accepts, retaining high expectations. Approximately 10% of the loan applications are accepted.

The procedures for monitoring borrowers, their assets and their tenants are what we would expect for these types of loans. This peer-to-peer lending business tends to have clear procedures to prevent fraud, which is where property lending has created significant problems for less skilled lending firms.

It uses very clear but strict basic requirements to ensure that the loans it provides to borrowers are likely to be repaid in full and with interest.

Most importantly, Proplend has demonstrated speed and efficacy in its processes in responding rapidly to loans that fall late. Those loans have been entirely repaid, on average, in just three months. For more than five months, just three P2P loans have gone past the term.

How strong are the interest rates and poor debts at Proplend?

The outcomes of Proplend's loans against properties that earn rent are in line with expectations. Approximately 30 loans have been repaid and more than 40 are still operating and in good standing. At the moment, only two of them are late to be paid off, but all are paying interest.

There was just one poor debt. This debt took 11 months to go from being a little late to making a successful recovery. Most of the bad debt – including all of the A debt and a part of the rest – has been returned to the lenders, and rehabilitation efforts continue. There were no other poor debts on Proplend's P2P loans.

Combined with competitive interest rates for lenders, I conclude that the risks are very well-managed.

Proplend's tranche A loans find a sweet spot on the risk-reward scale, but its tranche B and C loans are both comfortably in a decent interest-rate range.

The outcomes of Proplend's newer bridging loans have so far been without bad debts. More time is required to see how the late bridging loans turn out. 7/25 of the bridging loans for specific assets are actually late to be repaid, but all of them are paying interest. In a positive early indication of these loans, the same amount had previously fallen late, but had eventually been repaid in full without turning bad. The turnaround in these loans was reassuringly fast. All of the bridging loans have already been repaid. Interest levels tend to be reasonable in all tranches, ranging from 8.5 percent to 23.5 percent.

Does Proplend offer a large safety margin?

This continues to demonstrate a very stable and wide margin of protection against losses. We periodically look at the performance of all its loans against rental assets, using international banking stress tests.

Our conservative version of these tests measures the predicted effects of a serious recession and property collapse, close to 2008. Our results strongly indicate that Proplend borrowers who take the time to spread their money over as many loans as possible have a wide margin of protection even under horrible economic conditions.

How much experience do the leading people at Proplend have?

Throughout the years, Proplend's lending team has expanded its related banking expertise through new hires as well as six years of internal experience. The two main decision-makers, Raj Raghwani and Matt Carson, need to approve all the loans handed over to them by their lending team.

Matt Carson has a lot of expertise in corporate financing and risk management. Raj Raghwani has not identified a large amount of experience and training in credit risk roles for such loans, but has been involved in and around property lending in other positions for a number of years. The two of them are backed up by other experienced people on their squad.

I would like to see some unique, external experience on the top team. But that would be a bonus, because I think some of Proplend's processes make it almost risk-free.

Has Proplend given adequate information to determine risks?

Proplend is very open, sharing the very comprehensive data that we need to use with bank risk modeling and investment techniques to evaluate its performance. It gives us access to its main people and answers our questions.

Is Proplend profitable?

As is still natural in the emerging P2P lending industry, Proplend is not yet profitable. It has a unique concept that is deserving of success, but without a big parent corporation behind Proplend, I shall keep an eye on its trajectory.

Is Proplend a good investment?

Proplend is a strong investment. Proplend is an convenient option for someone who can afford to pay a high minimum sum for each loan and be able to spread across a wide variety of loans to cover risks. I assume that it will continue to give lenders extremely acceptable and reliable returns most of the time.

What is the total loan sum of Proplend and how many loans can I lend?

The total amount you can lend to each individual borrower is £ 1,000.

At present, there are not a large amount of incentives to lend. So take a few months to allocate money to your Proplend account and build up your Proplend loan holdings. Don't forget to spread your money to several other P2P lending sites, as well.

Proplend Auto-lend spreads the money through all A tranche loans. If you want to pick loans manually, rather than use auto-loan, you may want to turn auto-loan on just before the loan you want to stay on goes live. This is because, often, the loan is sold directly to lenders using auto-lending before other lenders have a chance to take part. You will receive an email when the loan is about to go live.

Is Proplend getting an IFISA?

Proplend's loan items are available as IFISAs.

Proplend main features and highlights

Bottom line
Generally, Proplend does not have many open investment options at the same time, but such loans are typically larger than on other lending platforms. And investors don't lose the chance to invest.
Fees: -
Min Deposit: £1000
Target returns: Between 5% and 12 % annually
  • P2P Lending
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