Credit Peers

I'm sure you're worrying over nothing, after all they do reassuringly say "We lend up to 85% of Loan-to-Value and never more"....so nothing to worry about at all

If these are development finance loans, as seems likely from the cited report, then your margin includes not only the borrower's 15% (or more) equity but also his anticipated profit margin. That gives an LT(GDV) similar to those offered at FC. (But the web site says they also lend for "major commercial property acquisitions".)

However FC interest rates on property development loans start at 8% (though higher rates are relatively uncommon). Given that the sort of project Peer Credit would be lending on tends (in my underinformed opinion) to have a greater uncertainty in GDV a 5% interest rate doesn't seem very enticing. When FC did commercial mortgages (they seem to have abandoned the asset class - perhaps they think it's too risky) they were generally at 10%. Commercial mortgages at AC tend to around the upper end of 5%-10%.

The one project they currently admit to is a big office building in Newcastle-under-Lyme. (Elsewhere a commercial redevelopment in London is mentioned.) Perhaps stokeloans would like to investigate.

They have an "automatch" facility offering senior debt at 6.5% (max 65% LTV) and mezzanine debt at 8.5% (max 85% LTV). Assuming that it's LTV and not LT(GD)V the former might be acceptable. But financing a big project at 65% of the land value strikes me as impracticable, so one needs to know more about how they work. I also wonder about how they are going to achieve multi-million pound fundings out of the gate - SS can manage it at 12%, but I'm not aware of any other platform that could cope. Do they have underwriters lined up?

How does Credit Peer differ from, say, Wellesley?

[While digging a little around the web I found a reference to a P2P equity site specialising in strategic land.]

The office building in Newcastle under Lyme they are offering.....I actually have an appointment there on Friday !!!!

I went to sign up but saw a Promotion code field. Are they doing references? If so any one want to refer me?