Grandin joined a panel of experts at the Crowd Invest Summit in Los Angeles last week to spread the word about what the UK mortgage market has to offer and build relations with US crowdfunding platforms in the process.
UK peer-to-peer could become ‘suffocated’ by regulation and investors in the US will take the mantle, predicts Lee Grandin, founder of Lend2Landlord, a firm linking peer-to-peer funders with developers and landlords.
Grandin joined a panel of experts at the Crowd Invest Summit in Los Angeles last week to spread the word about what the UK mortgage market has to offer and build relations with US crowdfunding platforms in the process.
Grandin said: “I was so impressed that we will be looking to originate funds from high net worth investors from USA as a priority over UK.
“While the UK leads the way in crowdfunding and peer-2-peer this will be suffocated by over regulation and the Americans will overtake us.
“I believe the US regulations are more dynamic moving forward.
“We are going feed US crowdfunding and peer-2-peer platforms with UK property.”
While Grandin was away he FCA proposed tightening up on crowdfunding, for example by extending mortgage lending standards to loan-based crowdfunding platforms.
As the UK plots its exit from the European Union Grandin made the tongue in cheek suggestion that the UK should become a “wholly owned subsidiary of the USA”.
He added: “Brits do not crave a European lifestyle – they crave an American lifestyle.
“The young Brits of today will be voters of tomorrow and they want Netflix, Instagram and the Kardashians so the more funds that flow from the USA to UK property the better.
“If UK property is owned directly or indirectly by Americans then tenants will be happy to have them as their landlords.
“They might have to throw in free Netflix though to keep them happy.”
