jimc99
Member of DD Central
Posts: 284 
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Post by jimc99 on Aug 2, 2017 10:31:44 GMT
Steve......I notice that over half the BM loans are now made through channels other than p2p platforms.
It would be useful to have more details on what these channels are.
Thanks.
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mary
Member of DD Central
Posts: 698 
Likes: 711
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Post by mary on Aug 2, 2017 19:14:47 GMT
Steve......I notice that over half the BM loans are now made through channels other than p2p platforms. It would be useful to have more details on what these channels are. Thanks. It doesn't really matter because all your investments in Bondmason are unsecured purchases of receivables in a related, but separate Company. You therefore have to completely trust that the associated Company does what it claims to do with the money and will not run off with it. I have nothing to suggest that they are not completely honest, but the set up seems to be deliberately opaque and as you have no call on the investments made by the associated Company, you are solely left with trusting a website that does not have full FCA authorisation!
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Post by stevefindlay on Aug 2, 2017 20:27:13 GMT
Steve......I notice that over half the BM loans are now made through channels other than p2p platforms. It would be useful to have more details on what these channels are. Thanks. - of course: they are almost entirely Bridge Lending Companies: typical profile is a lending history of 10-20+ years and where the principals invest a significant amount (25%+) in each and every loan. The bridge lending market is quite fragmented and geographically concentrated - with local developers working with local lenders, driven by relationships, flexibility and speed rather than price. We've created a structure to enable co-investment in their loans and have exclusive direct lending relationships with a number of these, enabling our clients to benefit from returns from loans they can't access themselves. We are in discussions with a couple of specialist asset-backed lender partners, but as the typical term of these loans is 36-48 months, we are slower to allow these across the platform.
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