sapphire
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Post by sapphire on Dec 12, 2020 14:53:32 GMT
Whilst the FAQ on CP's website states "The standard borrower rate is 10% per annum interest", the CP borrower terms states "Rates range from between 7.5% and 10.5% per annum". (Schedule 1 of link www.crowdproperty.com/terms/download/borrower ) 1. Any idea approx. in what percentage of projects does the borrower pay a rate other than the 'standard' 10%? 2. Where the borrower rate is not the 'standard' 10%, do CP disclose this to the lenders? Where? On the project page on their web site? 3. Is the differential between the borrower rate and the lender rate always 2%?
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firedog
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Post by firedog on Dec 14, 2020 7:22:11 GMT
You can see most of this information on CrowdProperty's site. The average borrower contract rate in 2020 is 10%, while the average lender contract rate this year has been 7.9%. I don't think they specific borrower rate on each contract but you'd conclude that given the historical record it's lender rate +2%, with minor variances.
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metoo
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Post by metoo on Dec 14, 2020 15:50:56 GMT
It is an FCA requirement that they disclose the borrower rate to lenders, introduced in PS19/14. This information does not appear in the loan "Factsheet". You should at least be able to receive the information if you request it.
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