MIPIM UK 2015 – Summary
Proplend attended MIPIM UK (the only slightly less glamorous sister exhibition of MIPIM Cannes) for the second year in a row in 2015. As one of almost 350 exhibitors at the UK’s largest exhibition and conference for property professionals, it provides the perfect place for Proplend to meet both borrowers and investors with a keen interest in UK commercial property.
Of the many visitors to the Proplend stand the most unusual had to be Pebbles the Owl from NBC Bird & Pest Solutions!
MIPIM UK had a 3-day programme of speakers that this year included a panel discussion entitled: PropTech – Shaking up the Property Industry. The panel, made up of Dan Miller of Fundrise, Faisal Butt of PI Labs, and Claire Cockerton of ENTIQ, delivered an informative session on how the interaction between the property sector and technology is changing.
Our take home from this session included some well observed statements from all three panelists:
Faisal stated, “Users want transparency. Investors and consumers want to see the process.” At Proplend, we completely agree, which is why our platform is 100% transparent. Each loan request has a suite of documents uploaded which includes the valuation, the Report on Title, an example loan contract, the Loan Request document, and any other documents relevant to the loan request. These documents provide all of the necessary information to be able to form an educated opinion on the loan request and allows investors the opportunity to see the entire picture of the loan.
Dan stated, “It’s more than a platform; it’s investment banking that uses technology.” We agree with Dan on this stance. Proplend’s team has combined 60 plus years of experience in the property finance industry. Every loan listed on our platform has been analysed and underwritten by an experienced team of professionals. Many P2P platforms will input figures into a computer system that will then approve or deny the loan request based on a credit score. At Proplend, we rely on actual facts and verified income figures, valuations from RCIS Valuers, a Report on Title prepared by external solicitors. We also visit every property and meet with each Borrower. Proplend is allowing individuals the opportunity to invest into property loans via a secure and transparent platform, which is bringing a transparent investment banking model to the public domain.
The all American panel belied the fact that the UK is a world leader in Alternative Finance and PropTech, not least as Proplend is based here! This led to a question from the audience about the state of the UK PropTech scene. Luckily Proplend’s own CEO, Brian Bartaby, was there to answer from the floor.
The discussions we had during MIPIM UK 2015 further confirmed that traditional bank lending in the sub £5m sector remains scarce. There is a real gap in the market for borrowers with cash flowing properties who need to refinance. We look forward to continued success in connecting investors directly to borrowers via our simple, secure, and transparent platform.