jimc99
Member of DD Central
Posts: 284
Likes: 115
|
Post by jimc99 on Nov 19, 2016 1:55:41 GMT
Hi - Just signed up for investing in BC and was surprised to see that the minimum investment in a loan is 5,000 pounds. Guess I should have read more about the site before registering. Is it still the case?
Not for me if it is......
Thanks.
Edit....the current loan would be gone in a few minutes on SS if the limit was say 500 pounds. But then I guess some sort of prefunding system would be needed on BC.
|
|
Greenwood2
Member of DD Central
Posts: 4,251
Likes: 2,694
|
Post by Greenwood2 on Nov 19, 2016 8:07:42 GMT
Yes unfortunately it is still a £5000 minimum.
The current loan is I think the biggest, most smaller loans seem to fill extremely quickly.
|
|
|
Post by eascogo on Nov 19, 2016 19:27:53 GMT
Hi - Just signed up for investing in BC and was surprised to see that the minimum investment in a loan is 5,000 pounds. Guess I should have read more about the site before registering. Is it still the case? Not for me if it is...... Thanks. Edit....the current loan would be gone in a few minutes on SS if the limit was say 500 pounds. But then I guess some sort of prefunding system would be needed on BC. jimc99 . A possibility exists of investing less than £5k if the last remaining unfilled loan part is less than £5k. IIRC that this is explained on BC's website. I was able to stick £1k in that way. But having to log in repeatedly for that chance is tiresome. Easier to withdraw.
|
|
Greenwood2
Member of DD Central
Posts: 4,251
Likes: 2,694
|
Post by Greenwood2 on Nov 23, 2016 18:48:31 GMT
New loans this evening.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Aug 21, 2017 7:29:09 GMT
Dear All, Firstly thank you to Steve for emailing us and informing us of the thread. Very kind. I will try to answer the more pertinent points below in order; gaspilot - regarding the names theBridgeCrowd.com and BridgingCrowd.com. The company and the website initially started out as theBridgeCrowd.com. As we developed, some of our investors commented that they thought the company was a Bridge Club (cards) and not a lending / investment company. As such we decided to the change the name to the BridgingCrowd. We actively use both domains and both email address. Unfortunately due to the amount that had been spent to date on SEO and marketing for theBridgeCrowd and the goodwill that Google had attributed to it, our web team felt it more prescient to continue the dominant hosting at thebridgecrowd.com and hence why bridgingcrowd.com points to this domain name. shimself & Brackneilboy - regarding directors age and experience, I will explain more and be as transparent as possible. The primary shareholder and MD is Louis Alexander (32) 98% owner and his wife Charlotte Alexander (29), 2% owner. I, Louis Alexander was a commercial barrister and also an investor and co-founder of other companies. I sold my positions in the other companies and formed Social Money Ltd t/a the BridgingCrowd in 2012. Prior to this, the company was incubated and partnered under another bridging company called Braehead Finance Ltd from which it sources many of deals. This is bridging company that has been in operation since 2009 and is run by father who underwrites all the loans that the BridgingCrowd participate in. As a family we invest our funds in over half of every loan deal and offer the other half out to investors. My father has been involved in bridging for 25+ years. He was the senior accountant for the one of the largest shareholders of Jerrold Holdings and Lancashire Mortgage Corporation which is the the largest bridging and alternative finance company in the UK. To date, in all our loans via both companies (Braehead Finance and the BridgingCrowd) we have had zero capital losses with the former having succesfully traded through the credit crunch. shimself - regarding participating in the loan prior to or after completion. We offer two structures and it depends on the a) the size of the investors funds and b) the origination of the deal. In short - if an investor has substantial funds and can take whole loan parts (or large chunks) and they are contracted directly with the borrower (circa £500,000+ in investable funds). If the investor(s) wish to lend smaller funds over a large number of deals, the process is simpler and easier for the investors to be assigned part of the loan agreement with the borrower. We as family commit all our funds to each deal so that we can give the borrower comfort that we will complete on the first day that he / his broker enquires. The loan may or may not complete for a variety reasons, so rather than inform all investors of an upcoming deal that may or may not complete and waste investor(s) time, we only inform you of deals that are ready to complete. If no-one wishes to co-lend, then we take the whole loan. If they do, then great. But this system is the smoothest and simplest for us and based on the feedback we have had, our investors agree. gaspilot - thank you for recommending us below and dipping you toe in. batchoy - we do not currently offer an online platform that you can lend through. To date our investors have actually said that it is easier to commit via emails as they do not need to login / remember passwords and go direct to a website. They simply press reply to an email with the amount that they wish to invest. This helps if use your phones a lot for emails. Investors are then notified if they made it into the deal in time and to have the funds ready for completion by a certain date. It is quite straightforward. That being said, we have mooted having an online investable platform and I am keen to see what other people think about it? It would really help me if anyone on here has invested via us and via other online companies and let us know which they prefer and why. (Gaspilot I am looking at you here I will try to monitor this thread over the next few weeks. If you have any other questions please email me at Louis@thebridgecrowd.com or Investors@thebridgecrowd and we are happy to help.
Kind regards Louis Alexander MD Are the highlighted statements from this old post still true? Does interest accrue from the date of investment or the date of draw down?
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Aug 21, 2017 9:38:57 GMT
Does interest accrue from the date of investment or the date of draw down? Draw down. And often the date given for anticipated draw-down slips a week or so (especially on big loans), which is annoying.
|
|
madpierre
Member of DD Central
Posts: 303
Likes: 374
|
Post by madpierre on May 11, 2018 9:58:27 GMT
I have signed up with Bridgecrowd but cannot yet find anything I am happy to invest in. I assume my timing is unfortunate as the reports here seem pretty favourable. I don’t like the look of much that is on the SM, which appears to be mostly stuff that people are trying to offload close to term. The only possibility otherwise is loan 1226. This is a 2nd tranche so carrying a higher risk but looks still solid on the face of it with a passable LTV and decent interest rate based on a valuation well below the asking price. My concern is that this property has already been on the market for over a year and, whilst it attracted some interest at a lower asking price, that has now been increased for some unexplained reason. I cannot see it selling soon so this loan may be a long haul and maybe not suitable for a first commitment, particularly as I don’t usually invest £5k in any loans elsewhere, but with many other platforms failing so miserably at present I am being forced into desperate measures! At present I think I will pass on this opportunity and await new loans. My nights may be more peaceful that way
|
|
Steerpike
Member of DD Central
Posts: 1,962
Likes: 1,680
|
Post by Steerpike on May 11, 2018 10:20:48 GMT
The downside with BC is the generic downside with bridging, loans overrun, most of the time 60%-70% of my BC loans are past term.
|
|
victors
Member of DD Central
Posts: 157
Likes: 86
|
Post by victors on May 14, 2018 9:51:57 GMT
I remember a few months back, new loans would go quickly. I've had a look for the first time in a while and loans seem to take a lot longer to fill. Are there more loans available now than there were?
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on May 14, 2018 14:15:22 GMT
Not sure. I guess my best answer...I do monitor the loans weekly but don't keep a spreadsheet.
What I can say even if there is a couple of more loans that still doesn't explain why they are lingering for that much longer.
Guess times change.. and need more investors etc etc..
Even loans on the SM with a discount..not bad offerings either.
|
|
michaelc
Member of DD Central
Posts: 4,895
Likes: 2,768
|
Post by michaelc on May 14, 2018 19:23:24 GMT
I think the rates on offer have gone down but also a general fatigue about p2p following col and some issues elsewhere. The sm also has more on offer than in previous months.
I'm not overly concerned though - certainly not planning on putting my loans on the sm.
|
|
liso
Member of DD Central
Posts: 389
Likes: 394
|
Post by liso on Nov 7, 2018 17:20:22 GMT
I am considering Bridge Crowd as a home for a chunk of cash for a few months, and would appreciate if someone could answer a couple of questions for me.
I will have 6-8 weeks notice of when I need the money - is it reasonable to expect that I could sell my loans on the secondary market within that time period?
Is £5000 still the minimum investment?
TIA
|
|
Greenwood2
Member of DD Central
Posts: 4,251
Likes: 2,694
|
Post by Greenwood2 on Nov 7, 2018 17:36:34 GMT
Getting invested quickly may be a problem, on the PM small loans go really fast and bigger loans are not so frequent, currently anything on the SM seems to last minutes rather than days (but who knows in the future). Yes the minimum is £5000.
If you have £15,000+ to put on the platform there is an auto invest, which gives priority allocation in some loans.
Edit: I sold a loan a few weeks ago that was snapped up in 15 mins. You cannot sell loans in the first month or if they are late paying back.
|
|
|
Post by eascogo on Nov 7, 2018 17:56:13 GMT
Getting invested quickly may be a problem, on the PM small loans go really fast and bigger loans are not so frequent, currently anything on the SM seems to last minutes rather than days (but who knows in the future). Yes the minimum is £5000. If you have £15,000+ to put on the platform there is an auto invest, which gives priority allocation in some loans. Edit: I sold a loan a few weeks ago that was snapped up in 15 mins. You cannot sell loans in the first month or if they are late paying back. There are 5 loans showing in the pipeline at the moment with interest between 0.7 and 0.9% per month. Availability shows as zero so I take this to mean already 100% subscribed. If auto invest status is accorded priority as you mention then there might be little or nothing left to distribute once auto investments have been allocated.
|
|
Greenwood2
Member of DD Central
Posts: 4,251
Likes: 2,694
|
Post by Greenwood2 on Nov 7, 2018 18:43:53 GMT
Not all loans are auto invest enabled and for bigger loans there is a reasonable amount left over, some even last a few days! Most loans either pipeline or immediately live are gone pretty quickly. Except for big loans you need funds on the platform ready to go. New loans usually posted on Fridays but times are fairly random. There is an email notification, but you still usually have to be quick.
|
|