berkshire loan | P2P Independent Forum

shimself
Member of DD Central

Posts: 2,560

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berkshire loan Jun 30, 2017 16:21:51 GMT

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Post by shimself on Jun 30, 2017 16:21:51 GMT

I just got the email alert for this thanks

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I don't understand 600K 8.75% making 60K interest
Not for the first time (I think) the loan is being offered without sight of the formal valuation. Please stop doing this.
The loan doesn't yet show in the Auction Marketplace.

Are you going to email us again when it is available for investment and when the necessary info is all available?

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wengyeeRelendex
Representative of Relendex

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berkshire loan Jul 3, 2017 13:15:14 GMT

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Post by wengyeeRelendex on Jul 3, 2017 13:15:14 GMT

Hi shimself,

Sorry for the delay in reply.

The headline rate of 8.75% is the interest rate due to lenders. Whereas the 60k figure is what the borrower is due to pay.

The upcoming loan announcement was just to pre-warn lenders of what the next deal is and of course another email will be sent out when the loan goes live (whereby lenders will have sight of executive summary, valuation report and term sheet).

Regards,
WengYee

Relendex is a peer-to-peer marketplace bringing together lenders for loans secured on commercial and residential properties. Fully authorised and regulated in the United Kingdom by the Financial Conduct Authority and entered on the Financial Services Register - FRN 723117.

wengyeeRelendex
Representative of Relendex

Posts: 80

Likes: 22

berkshire loan Jul 4, 2017 15:11:09 GMT

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Post by wengyeeRelendex on Jul 4, 2017 15:11:09 GMT

This loan is now live. Berkshire Commercial Bridging Loan 8.75% pa 50% LTV 12 months

There is a 0.25% cashback incentive on all bids in this auction submitted by 16.00 Friday 7 July 2017 (payable at close of auction).

*Only lenders with regular lender accounts are eligible for this offer. For tax reasons we are unable to offer this incentive to ISA account holders.

**Disclaimer: Please remember that funds lent through Relendex are loans and not deposits.
That means your capital is at risk.

Relendex is a peer-to-peer marketplace bringing together lenders for loans secured on commercial and residential properties. Fully authorised and regulated in the United Kingdom by the Financial Conduct Authority and entered on the Financial Services Register - FRN 723117.