Crowd Property introduces iDIP

25 Apr 2024

Platform-based property development finance provider, CrowdProperty, has launch “instant” Decisions in Principle (iDIP).

With CrowdProperty’s new iDIP feature, the firm says applicants can get an immediate response, underpinned by 10 years’ of data, more than 15,000 funding applications and over £15 billion in funding requests.

Damon Walford, chief commercial Oofficer at CrowdProperty, said: “The arrival of our iDIP proposition is a game-changer, providing property developers with the all-important responses they need, when they need them. Property transactions can be time-sensitive, so every minute that can be saved matters, particularly when you are competing for a site or negotiating with a vendor. During a recent pilot exercise, numerous property developers submitted multiple applications due to the exceptionally speedy response.

“We’re focused on accelerating funding provision, enhancing transparency and fostering long-lasting relationships with our clients. Our new iDIP leverages our extensive wealth of data insight and technological expertise, and the benefits for developers are a big stride forward within the overall property development finance market.”

CrowdProperty’s iDIPs are powered by Building Underwriting Intelligent Lending Decisions (BUILD), an in-house automated deal appraisal system that taps into the bank of data and analytics collated by the company over the last decade.

Walford added: “BUILD offers an unbiased and accurate appraisal of project risk, enabling us to swiftly provide indicative pricing and progress funding applications with certainty from the outset.”