Just wondering if anyone is invested in this loan ? (#1396)
The original loan was for 244k , but a further 26k appears to have been added to it today , and right now it has reappeared on the list of available loans ??
So the original loan of 244k , is now a loan for 270k with a commensurately rather higher LTV to go with it. However, there does not appear to be any explanation offered within the loan particulars, which still indicate that it's a loan of 244k ??
Assuming you mean #1396, the additional advance appears to push the LTV up from 23% to a heady 25.5% (1st charge) so I guess BC felt it was of minor consequence!
Yes - it is indeed #1396.
I accept it's a low LTV , but surely BC can't just increase it without the express permission of the original borrowers ?
The way I see it, additional risk is just being dumped on to the existing borrowers whether they like it or not ! To be honest I haven't got the energy to wade through all the T&C's , but it's hard to believe that a P2P lender is allowed to do this ?
I think another loan changed 1390, a small new? loan available added to the original. It was 67% LTV originally now 70% (not a low LTV loan, but there is additional security). I wonder if that is interest being added to the loan or a slight re-negotiation. I would like to see these things clearly flagged up to original lenders, with the ability to cash in. Loan details still show the original values.