Nomad
Member of DD Central
Posts: 721 
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Post by Nomad on Jun 21, 2020 12:48:57 GMT
Has anyone looked at this Irish platform? www.propertybridges.comAll loans are first charge, with average LTV of 58% and average return 8.1% |
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Post by Badly Drawn Stickman on Jun 21, 2020 13:21:54 GMT
Has anyone looked at this Irish platform? www.propertybridges.comAll loans are first charge, with average LTV of 58% and average return 8.1% Interesting, I have spies over there. Probably need to look at... As soon as you sign up to the Property Bridges site you will automatically be set up with a MangoPay account. When you make a deposit or investment. Busy with important research (ok, watching football) currently. Might dig deeper later on.
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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
Posts: 10,477
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Post by ilmoro on Jun 21, 2020 13:56:24 GMT
Has anyone looked at this Irish platform? www.propertybridges.comAll loans are first charge, with average LTV of 58% and average return 8.1% Quick look. Looks reasonable on first glance Unregulated like all Irish P2P but following UK regulation apparently … references to FCA in t&Cs Some heavyweight backing from Breedon it seems Mangopay client account so no FSCS equivalent protection on client funds. No SM. Seems a little cursory on actual info on how it works, min investment, priority of repayments, additional fees Would need to look at projects in more detail particularly regarding info provided for risk & loan pricing (new FCA regs being followed?)
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Nomad
Member of DD Central
Posts: 721
Likes: 483
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Post by Nomad on Jul 1, 2020 10:45:40 GMT
Has anyone looked at this Irish platform? www.propertybridges.comAll loans are first charge, with average LTV of 58% and average return 8.1% New loan coming next week - 50% LTV first charge, 9% interest.
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corto
Member of DD Central
one-syllabistic
Posts: 850
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Post by corto on Jul 2, 2020 10:18:06 GMT
Given this platform is located outside the UK, it should technically count towards oversea's income (or losses).
How do people generally deal with the tax implications?
Would it be treated as overseas interest?
Can losses be offset against UK p2p income?
Would tax be deducted in Ireland? Would one have to fill an exemption form?
etc
This problem, of course applies to all the other non-UK p2p platforms as well.
So, many of you should have experience with it.
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Nomad
Member of DD Central
Posts: 721
Likes: 483
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Post by Nomad on Feb 12, 2021 13:33:04 GMT
Website couldn't handle the demand for today's smallish loan.
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