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Post by Ace on Apr 12, 2024 21:38:15 GMT
One loan is now in default (9840316). £522,500 owed, which represents under 0.6% of each investors capital. The 2 properties are fully complete and the LTV is under 50%, so very little chance of a loss.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Apr 13, 2024 11:14:50 GMT
AIUI in the LP model the lending partner effectively turns part of an existing loan into a mezzanine loan, offering the senior part to p2p lenders. So defaults that repay in full to LP lenders do not neccessarily mean that nobody has lost money - the lending partner may have. It is not obvious how this might affect LP lenders in the medium term but it is perhaps something to bear in mind. Things that work well in good times are often proved fallible when there's a crash.
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