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Post by emoney on Nov 14, 2014 9:09:24 GMT
We have another first at eMoneyUnion, a Peer to Peer Buy To Let Second Charge Loan www.emoneyunion.com/marketplace/ a bit of a mouthful I'm afraid. A number of our lenders have raised legitimate questions around the loan repayment terms of our secured loans, this one in particular being 22 years. This is to provide the borrowers with an affordable monthly repayment, if the borrower can obtain a lower cost of credit or re-mortgage in a few years time, they can settle our loan without redemption penalty. All loans are underwritten to ensure they are affordable and that the borrowers will have a positive outcome as a result of the loan. Please be aware that in-line with HM Treasury' NISA consultation on Peer to Peer lending, we provide a liquid aftermarket www.emoneyunion.com/lend/micro-loans/ for lenders to sell their loan units as and when required, subject to demand and supply, therefore the loan term itself should not be a barrier to participating in a longer term loan. Happy lending  |
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Post by emoney on Nov 14, 2014 9:21:45 GMT
Just to add for clarity and disclosure, there is no guarantee that you can sell your loan units, it's market driven! #investaware
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spyrogyra
Member of DD Central
Posts: 386 
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Post by spyrogyra on Nov 15, 2014 13:17:35 GMT
80% LTV 22 years 11%. I can't say many will bid with such figures in mind. On top of these is the fact that the secondary market is flooded with loans parts at 0 premium.
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Post by emoney on Nov 19, 2014 18:40:40 GMT
Sorry for the delay in replying, the email notification of comments being made via the forum is not consistent. The eMarketPlace www.emoneyunion.com/lend/micro-loans/ or aftermarket for loans is just that, a true market dictated to by supply and demand. Lenders capital will deliver interest on the loan unit for a longer period for terms originated as such, as opposed than those with shorter loans. We have a steady flow of new lenders who are happy to lend on loans of longer terms, particularly when secured against property. We can only deliver borrower requests as they arrive and grade accordingly, and it's down to you as lenders to decide if the yield and risk terms are acceptable to you. |
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