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Post by Ace on Apr 27, 2021 9:11:20 GMT
In this P2PFN article www.p2pfinancenews.co.uk/2021/04/26/landlordinvest-looks-to-double-its-revenues-and-partner-with-a-p2p-platform/, LI say that they're in talks with another P2P platform to offer second charge loans on deals where the other platform offers the first charge. Who could this be? The only platforms that immediately sprjng to my mind that only offer first charge loans are Loanpad and CrowdProperty. This doesn't look like it would fit Loanpad's MO, as they already have lending partners that provide the junior loan portion. Could it be CP? Or is there some other obvious candidate that I've forgotten? |
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Post by uksoul on Apr 27, 2021 10:19:31 GMT
In this P2PFN article www.p2pfinancenews.co.uk/2021/04/26/landlordinvest-looks-to-double-its-revenues-and-partner-with-a-p2p-platform/, LI say that they're in talks with another P2P platform to offer second charge loans on deals where the other platform offers the first charge. Who could this be? The only platforms that immediately sprjng to my mind that only offer first charge loans are Loanpad and CrowdProperty. This doesn't look like it would fit Loanpad's MO, as they already have lending partners that provide the junior loan portion. Could it be CP? Or is there some other obvious candidate that I've forgotten? Proplend offers only 1st charge loans but an unlikley fit.
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Post by Deleted on Apr 27, 2021 10:53:06 GMT
Hi Ace,
Just if I may contribute; we have to date only worked with leading bridging lenders and banks on a second charge basis so are quite selective when it comes to partnering with another senior lender, or indeed, a P2P platform.
We would need to be satisfied with that the P2P platform (as with any other senior lender) has (1) the necessary skills and experience in the products that they offer (2) verifiable and a strong track record (3) ensure that a fair and reasonable Deed of Priority/ICD is in place, and (4) that the senior lender would act in the best interest of the second charge holders and not only themselves (especially if a loan runs into difficulties). Those who have invested in other second charges loans on the platform will know how important these attributes are. We are would not work with senior lenders that would act on a unilateral basis.
These requirements rule out most P2P platforms and without divulging too much at this stage, there are one or two platforms that are of interest indeed.
Right, back to preparing a loan listing.
Filip
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Post by gramsky on Apr 29, 2021 8:05:53 GMT
Q1. Will this mean that the websites would be amalgamated?
Q2. If you already have accounts with both companies would they stay separate or be amalgamated?
Q3. Will it mean more loans available?
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Post by Deleted on Apr 29, 2021 9:59:02 GMT
Hi Gramsky,
Q1. Will this mean that the websites would be amalgamated? - No. Not at all.
Q2. If you already have accounts with both companies would they stay separate or be amalgamated? - Not applicable.
Q3. Will it mean more loans available? - Hopefully, but too early to say.
Please let me know if you have any other questions.
Filip
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Post by gramsky on Jan 24, 2023 8:37:22 GMT
And what has happened to this idea?
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Mar 6, 2023 18:06:27 GMT
And what has happened to this idea? It seems like it never got off the ground. No information about it anywhere. It was just hype and no follow-through. How is Landlordinvest working out for investors?
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,004
Likes: 572
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Post by dave4 on Mar 6, 2023 18:27:23 GMT
Seem fine on there own... so far
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Post by Ace on Mar 6, 2023 19:12:22 GMT
They've done well for me. I've been with them since Feb 2019. My current XIRR is 11.45%
My investment is fairly small as it's difficult to get significant funds deployed. Most investments have retained interest, so monthly interest payments are reliable. One drawback of this is that there's usually absolutely no updates until the loan misses is final repayment date. It's as if they don't ask the borrower about repayment until the day it's due.
I currently have 12 live loans. 10 are performing, 1 was due today (the first update was posted today, exactly a year after it went live, to say that it's likely to be 2 to 4 weeks late), the other has been overdue for quite a while (since June 2022) the first update was posted on it's due date to say that the borrower wanted a 3 month extension... I'm still expecting a full repayment.
Several other loans have run late, some very late, but I've always received full repayments, including penalty interest so far.
The SM seems to provide almost instant liquidity, even if selling loans with only 2 months to run. You can't sell loans in distress or within a month of due date.
On balance, I'm happy to keep reinvesting.
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Post by overthehill on Mar 6, 2023 19:42:03 GMT
And what has happened to this idea? It seems like it never got off the ground. No information about it anywhere. It was just hype and no follow-through. How is Landlordinvest working out for investors?
2 years almost to the day. No capital or interest losses. Their complete loanbook has repaid in full apart from one long term default for which I can't see the notes. I'm not a fan of 2nd charges even if the 1st charge is the same lending company, unless it's Proplend, so 80% of my money is in 1st charge loans.
It's a small team but it's clear from the type and volume of repaid loans that they are very skilled in picking loans.
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