lobster
Member of DD Central
Posts: 636 
Likes: 467
|
Post by lobster on Feb 19, 2019 17:30:43 GMT
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 ??
Is anyone aware of what's going on here ? Thanks
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Feb 20, 2019 8:08:09 GMT
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!
|
|
lobster
Member of DD Central
Posts: 636
Likes: 467
|
Post by lobster on Feb 20, 2019 13:09:56 GMT
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 ?
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Feb 20, 2019 13:16:49 GMT
Possibly not, but then BC are not an authorised P2P lender (see other threads)
|
|
lobster
Member of DD Central
Posts: 636
Likes: 467
|
Post by lobster on Feb 20, 2019 13:20:22 GMT
Possibly not, but then BC are not an authorised P2P lender (see other threads) Well, if that's the reason, I'm very much hoping that bridgecrowd don't lump any more onto this loan, because I've got a chunk of it 
|
|
Greenwood2
Member of DD Central
Posts: 4,238
Likes: 2,682
|
Post by Greenwood2 on Feb 21, 2019 9:34:03 GMT
Possibly not, but then BC are not an authorised P2P lender (see other threads) Well, if that's the reason, I'm very much hoping that bridgecrowd don't lump any more onto this loan, because I've got a chunk of it If you tell BC you're not happy about the change I expect they would let you out, or allow you to sell on the SM early.
|
|
Greenwood2
Member of DD Central
Posts: 4,238
Likes: 2,682
|
Post by Greenwood2 on Mar 1, 2019 12:14:11 GMT
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.
|
|
