Dragons aims to raise £12,000 loanstock by the end of 2020.
£3,000 to replace an existing investor and £9,000 new loanstock, offered at 2-4% to invest in essential roof improvements to the house. As custodians of a 400 year old build we are coming to terms with our long-term responsibilities to the building.
With bank rates at an historic low (< 1%), it has never been a better time to invest in the social economy. Borrowing money even from ethical banks is still expensive, they have to make their margin too, and as a small enterprise we can be charged up to 7% for new loans or 5% for a mortgage, so private investors can benefit from this disparity.
You may choose your own interest rate (up to 4%), to get this fantastic rate you are only required to commit for three years minimum. Withdrawal is by negotiation – the larger the sum to more notice is required. There is a fully legal contract supplied and your loan is secured against the value of the house, so it is risk free. The co-op is contracted to pay an annual interest payment, usually on the same day each year.
Contact us directly if you would like to know more about this great investment scheme!