Quicksnap Q & A with Christian Faes: co-founder of LendInvest

Christian Faes cofounded LendInvest end of 2013 with Beijing Kunlun secure from Chinese investors, the platform will meet investors in real estate loans, and plans to hire at a rapid rate.

Faes sat with WSJ city to discuss down as the Proposed referendum on United Kingdom membership of the European Union vote has affected business, its international workforce and how his company is to pivot from retail to institutional investors.

What was the immediate impact of the Proposed referendum on United Kingdom membership of the European Union vote?

The day after the vote, I was expecting our customer service team camped that the phones hook and anticipating redemption calls ringing off would. But it was not the case. We actually have more calls to our Investor Services desk on the Bank of England cut interest rates than we did for [the] Proposed referendum on United Kingdom membership of the European Union [vote].

Some have that reflected in the fact that many of the people living on our investment platform outside of London, and so tuned well to leave the EU.

In addition, there have been a lot of people who were confused by the Proposed referendum on United Kingdom membership of the European Union vote, but the appetite for high-yielding investment products has dented not. We are in one of lower for longer interest rate environment and the people still want to find good places to invest their money in return for a competitive return.

In the first four months after the vote, the total investment in the form of loans on our platform by 50% higher than the same period last year. We are cautiously optimistic about keeping invest the strength of our good investment investors.

your staff seems young and internationally. As the voting has affected the morale of the workforce?

Approximately 40% of workers not from the UK. I am as Australians. In the days immediately after the vote, there were nerves. We held a “town hall” meeting in the office for people on the situation to talk and ask questions. But the nerves have calmed down since then. We have all recognized that the roof does not cave once did after the vote and work life has continued pretty normal. I am sure that the uncertainty will reappear when Article 50 is triggered, and it is very much wait and see.

One focus is now to ensure that we carry on getting access to Europe’s best talent. In general there is a lack of good tech talent. It is a competitive market and a good tech engineers and developers have a lot of options provides. It is to think worrying that London could suffer as a result of the Proposed referendum on United Kingdom membership of the European Union.

She wrote to the Proposed referendum on United Kingdom membership of the European Union vote which you tightened lending criteria. Has that changed?

Yes, we tightened up in the week after the Proposed referendum on United Kingdom membership of the European Union vote our lending criteria, in particular the maximum loan-to-value ratio, we would accept reduced. It was not a big change, but something that we thought reasonable, and we have a monitoring center for that. It was doing the right thing, and we have not had to continue to tighten. Fortunately, it is not business either slows. Lending [since the vote] was 29% higher compared to the same period last year.

But the real estate market is very much a under observation. It has been generally a difficult year for property investment. As a company, we felt it was prudent before we reduce our commitment in prime central London property several months [the] Proposed referendum on United Kingdom membership of the European Union [vote] rather than calmer, concentrating more standard residential property lending. We are glad we did it, and business has been as a result of sound. We had had the stamp duty rise in April, but also the impact that is still fully visible.

who are working in the property market, is right to be cautious at the moment. The short answer is, we do not know how that’ll play anything yet. Whether we get a hard or soft Proposed referendum on United Kingdom membership of the European Union, the British real estate market is generally robust, but. It come to the market situation as grim and disturbing as this in the past and it has always survived. While it how everything feels insecure, the driving forces for real estate investments have not changed: still the United Kingdom more houses for the people needs, real estate investors still companies have to run, and we are all still for a good return on investment Search we make.

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Our Source: http://www.efinancialnews.com/story/2016-10-17/q-and-a-with-christian-faes-lendinvest?mod=rss-fintech

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