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Post by extremis on Dec 25, 2016 21:51:13 GMT
Is there any p2p platform open to EU based investors that gives borrower details, like business or person name, address, telephone number, etc.? I think it would be much less risky if we knew exactly to whom we are lending our money.
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ben
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Post by ben on Dec 25, 2016 22:04:29 GMT
Do you have a mortage? If so which bank is your mortage with? as if it is one I have an account with do you think they will give me your name and address as you may be borrowing my money, so that I can check its going to a secure home.
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Post by extremis on Dec 25, 2016 22:56:16 GMT
I have not a mortgage. But even if i had one with a bank you happen to be a customer, why the bank would give my name to you? After all, when someone deposits money to a bank it is bank's money and borrowers 'borrow' money directly from the bank, not the depositors. Actually, banks do not even lend any money (whether theirs or depositors or anyone else's), they create them out of thin air whenever someone gets a loan. It is a whole different story with p2p lending where investors' money are really lended to borrowers and we (investors) have the right to know who we are lending to.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 25, 2016 23:17:27 GMT
No platform will give out that level of detail as it breaches data protection legislation. However platforms do identify borrowers to registered lenders or provide the info that enables lenders to do their own DD. Those they accept overseas investors include ablrate SS & I think MT & AC, providing they can complete satisfactory ID, KYC & AML checks
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Post by extremis on Dec 26, 2016 1:23:03 GMT
No platform will give out that level of detail as it breaches data protection legislation. So, it is illegal to give out people's names. But how about names of companies borrowing money through p2p platforms? Is that also illegal? I mean giving out this info only to registered investors in order to do their DD.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Dec 26, 2016 9:06:27 GMT
Thincats give company names and details to lenders, and have eu based (expat?) lenders.
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Post by GSV3MIaC on Dec 27, 2016 16:18:45 GMT
No platform will give out that level of detail as it breaches data protection legislation. So, it is illegal to give out people's names. But how about names of companies borrowing money through p2p platforms? Is that also illegal? I mean giving out this info only to registered investors in order to do their DD. /mod hat off Most, if not all, P2P (at least those doing business/property lending) companies routinely give out details of who wants to borrow the money, or you can easily glean it from valuation reports and/or property ownership / Companies' House data. There are a few 'anonymous' borrowers on FC for instance, but even those are not hard to track down (just don't post the details here, please!). If you can't ID the borrower(s) then it really isn't P2P IMHO .. it's just 'banking lite'.
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