British property lending business BondMason told investors it is pulling out of its core peer-to-peer business ahead of an expected downturn in performance, days after another property specialist collapsed in the sector’s largest failure to date.
In an email to customers on Wednesday the company said it would stop offering new investments and wind down its service after collecting on its existing loans.
BondMason allowed retail savers to invest in property-backed loans originated by a range of other peer-to-peer lenders, aiming to provide annual returns of around 6%.
