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Post by Deleted on Dec 13, 2016 15:24:54 GMT
Hi all,
I am a co-founder of LandlordInvest (www.landlordinvest.com), a new P2P lending platform that has recently been authorised by the FCA.
Let me know if there is anything that you want to ask me about LandlordInvest or have any feedback.
Looking forward to interesting discussions.
Many thanks,
Filip Karadaghi
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jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
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Post by jonah on Dec 13, 2016 15:35:16 GMT
Welcome to here. I'm sure that a mod will provide some shining 'platform rep' stars in due course. In the mean time, I see from your blog post (https://blog.landlordinvest.com/we-have-launched/) that you don't yet have any loans on the platform. Do you know when that is likely to change?
For a follow up, what do you see as being your key differentiator between your platform and the other ones already out there?
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Post by Deleted on Dec 13, 2016 16:57:19 GMT
Hi Jonah,
Many thanks for your questions.
We are constantly reviewing loan requests, and receive new ones on a daily basis, and will only accept those that meet our criteria. As such, it is difficult to say when the first loans will appear, but we hope that it will be over the next few weeks (also keeping in mind that buy to let and bridging transactions generally slow down considerably around the Christmas holiday season).
Difficult to say given that there are quite a few platforms out there. I guess that our general strengths are:
• One of first fully FCA authorised platforms for buy to let and bridging loans
• We are “pure” P2P – no pre-funded loans or auto allocation
• Looking to offer the IFISA shortly and becoming one of only handful platforms being able to do so
Our biggest weakness is that we have only been around for slightly more than a week and therefore have no track record. However, we believe that we will overcome this weakness due to our teams experience.
Many thanks again and please let me know if you have any other questions.
Filip
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Post by lynnanthony on Dec 14, 2016 11:59:13 GMT
This is probably a really daft question and serves only to demonstrate that I don't understand how interest rates are calculated, but ....
The front page of your website offers borrowers an APR of 5.5% and lenders a rate of "up to 10%". How's that work, I'm used to getting less than the lender pays?
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Post by Deleted on Dec 14, 2016 12:56:23 GMT
Hi lynnanthony, Many thanks for your question. We had a similar question recently, so not daft at all The potential return rate advertised to investors, up to 10% p.a., is the rate that may be earned from lending to certain bridging loans, which carry a higher rate (and risk) than buy-to-let mortgages. The borrower rate advertised on the front page is the average APR for buy-to-let loans. We assume that majority of funded loans on the platform going forward will be buy-to-let loans, hence we are displaying the APR for buy-to-let loans (and per consultation with the FCA). Some bridging loans that we will make available to the investors on the platform may have a higher return than 10% p.a., and it is in the investor's sole discretion to decide which loans he/she wants to invest in and may allocate the portfolio into buy-to-let or bridging loans, or a combination of both. Please keep in mind that these are estimated rates, and will be updated to reflect actual rates going forward. Please let me know if that clarifies your question and if you wish to ask anything else. Regards, Filip
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am
Posts: 1,495
Likes: 601
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Post by am on Dec 14, 2016 13:04:04 GMT
This is probably a really daft question and serves only to demonstrate that I don't understand how interest rates are calculated, but .... The front page of your website offers borrowers an APR of 5.5% and lenders a rate of "up to 10%". How's that work, I'm used to getting less than the lender pays? It's not completely clear, but I'd read that as borrowers being offered 5.5% upwards, and lenders 10% downwards. BTL mortgages and bridging loans have different interest rates - the borrower pages at LandlordInvest have 5% for BTL mortgages and 7.2% (7.45%?), which I suspect would be minimums, and you have to add arrangement fees to that. I think that LandBay and Wellesley are the big players in P2P BTL mortgages. They don't offer particularly inspiring lender rates. Bit players would be Kuflink and Relendex. AC does the odd BTL mortgages at 6.5% upwards. Bridging loans tend to have higher rates. FC does them at 10%. SS, MT, COL and FS (and ABL?) do them at about 12%. AC does a few at rates in the 9-10% area (historically at 12%). I'd think about BTL mortgages - I don't have much in that asset class. For bridging loans the loan quality would have to be high, at the advertised interest rates, to compete with the companies already in that areas. Edit: SS got a bridging loan away at 9% recently, even though the people who commented here were unenthusiastic.
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Post by Deleted on Dec 14, 2016 13:23:32 GMT
Thank you, am.
Bridging loans do generally carry higher interest rates than buy-to-let (BTL) loans as bridging loans are considered to be more risky.
We decided to include both types of loans on our platform to give lenders the choice to diversify their portfolio, whilst some other platforms have chosen to only offer one product.
Many thanks,
Filip
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Post by Deleted on Dec 15, 2016 10:16:18 GMT
lynnanthony and am,
Based on your comments, we have revisited and changed the headline rate that investors may earn to 5-10% per annum instead of up to 10% per annum to make it more clear and avoid confusion going forward. The change has been made on the home page. Many thanks for the suggestion and do let me know if you have any other feedback as we are always looking to improve our service.
Filip
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Post by buttchopf23 on Dec 15, 2016 11:33:12 GMT
hi
are international Investors allowed?
regards
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Post by Deleted on Dec 15, 2016 13:00:38 GMT
Hi buttchopf23,
Yes, depending on which country you reside in or which citizenship you hold. Please contact us directly (info@landlordinvest.com) to verify if you may be eligible to open an account with us.
In any event, we have to verify your identity pursuant to current UK regulations if you wish to open an account with us.
Regards, Filip
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shimself
Member of DD Central
Posts: 2,559
Likes: 1,168
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Post by shimself on Dec 15, 2016 13:03:45 GMT
hi
are international Investors allowed?
regards Looks like it because you have the chance to say not uk resident
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Post by Deleted on Dec 15, 2016 13:47:46 GMT
Thank you, shimself.
Users may self-identify as non-UK resident when filling out the ID verification form (connected to a credit referencing agency via an API for ID verification). A user that self-identifies as being a non-UK resident will have a limited view of the platform, but will not be able to deposit any funds or invest until we have verified the user’s identity. We're constantly working on making the on-boarding experience as efficient as possible, whilst meeting our regulatory requirements.
Filip
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Post by webbski9 on Dec 30, 2016 17:22:35 GMT
Flip,where are the loans
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Post by Deleted on Dec 30, 2016 17:44:07 GMT
Hi webbski9,
Hope that you had nice Christmas holidays and I wish you a Happy New Year.
We are aiming to display the first loans in January, to coincide with other announcements.
We will notify platform investors via email once the first loans appear.
Regards,
Filip
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Post by webbski9 on Dec 30, 2016 17:58:42 GMT
Thank you Filip We are all looking forward to your offerings. What is the minimum trade size ? And will you have the very important Secondary Market ? Happy New Year
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