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Post by emoney on Jul 2, 2015 9:28:59 GMT
We have a new bridging loan listed at 4% LTV, yes 4% loan to value. The residential property, in central London is tenanted and the rent received easily covers the interest payments. www.emoneyunion.com/marketplace/ |
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Post by emoney on Jul 8, 2015 9:29:57 GMT
The loan is now 97% funded and likely to close over the next few hours, still time to participate.
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huxs
Member of DD Central
Posts: 300 
Likes: 218
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Post by huxs on Jul 10, 2015 8:14:30 GMT
Hi,
I know that this loan has closed but I have a general question on the LTV's quoted on second charge loans, do these LTV figure cover all loans on the property or just the one we are financing?
A 4% LTV is great but if the primary charge loan is for 95% then that is a very different situation.
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Post by emoney on Jul 10, 2015 13:41:33 GMT
Hi, I can confirm that the loan to value (LTV) figures quoted always include any existing borrowing and the 2nd charge loan requested.
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huxs
Member of DD Central
Posts: 300
Likes: 218
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Post by huxs on Jul 13, 2015 8:31:01 GMT
Hi, Thanks for confirming that, I have one more question.
That majority of other P2P sites provide you with the ability to view loan details, normally including valuation documents etc Is this something you are planning on doing, I guess this is not required for the loans to individuals but now you seem to be taking on more property deals I think this would be a very handy feature and provide a bit more comfort to investors.
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Post by emoney on Jul 13, 2015 13:36:45 GMT
Hi, we would love to be able to provide more information, however we are restricted with regards to what information we can display when lending to consumers. We have been discussing providing a roll over-pop up with a little more information of the loans to include;
Loan Purpose
Type of Property
Anything identifiable as consumer specific is a no-no I'm affraid.
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