Post by barnsleybiker on Jan 31, 2024 14:42:57 GMT
this email popped up today just as i was doing my last minute tax return (last chance saloon today!)
just in case it ended up in your "spam fritter" email box heres a copy.
Hi,
We hope you are keeping well and having a great start to 2024.
We are writing to provide you with an update on loan performance and the outlook moving forward.
Loan Portfolio
We are pleased to report that the portfolio continues to perform in line with expectations with no losses anticipated on any loans.
We continue to receive a good level of loan repayments with borrowers being able to exit their loans, typically via sales or via longer-term refinance with a mainstream lender. The general market conditions therefore appear to be stabilising and we are proud to say that we have now had over £150,000,000 of loans repaid.
The average loan to value across the portfolio is 41%.
There are currently 181 loans in the portfolio which equates to an average loan amount of c. 0.55% of funds invested, giving a good level of diversification to all investors.
We currently have 16 lending partners with others to be added in the coming months. The originations of new loans therefore remains very strong, leaving us with the ability to select from a large pool of loans from a growing list of partners.
New software update
Our new software is currently in testing and we hope to be able to provide a go-live date before too long.
When it is live, investors will be able to invest funds from as little as 1p which will improve compound returns. There will also be a "re-invest interest" option which will mean your interest will be re-invested the same day, as opposed to the following day like it is currently.
There will be additional live data fields and charts and some other new features as well, with many more to be added subsequently.
Importantly, we have been very careful not to add any complications so the platform will remain as simple and easy to navigate as always.
A further update on this will be provided as soon as possible.
Interest Rates
There are currently no planned changes to interest rates, but we continue to monitor this carefully and will provide further updates as and when any changes are anticipated.
As ever, if you have any queries or feedback, please do get in touch.
Happy investing!
just in case it ended up in your "spam fritter" email box heres a copy.
Hi,
We hope you are keeping well and having a great start to 2024.
We are writing to provide you with an update on loan performance and the outlook moving forward.
Loan Portfolio
We are pleased to report that the portfolio continues to perform in line with expectations with no losses anticipated on any loans.
We continue to receive a good level of loan repayments with borrowers being able to exit their loans, typically via sales or via longer-term refinance with a mainstream lender. The general market conditions therefore appear to be stabilising and we are proud to say that we have now had over £150,000,000 of loans repaid.
The average loan to value across the portfolio is 41%.
There are currently 181 loans in the portfolio which equates to an average loan amount of c. 0.55% of funds invested, giving a good level of diversification to all investors.
We currently have 16 lending partners with others to be added in the coming months. The originations of new loans therefore remains very strong, leaving us with the ability to select from a large pool of loans from a growing list of partners.
New software update
Our new software is currently in testing and we hope to be able to provide a go-live date before too long.
When it is live, investors will be able to invest funds from as little as 1p which will improve compound returns. There will also be a "re-invest interest" option which will mean your interest will be re-invested the same day, as opposed to the following day like it is currently.
There will be additional live data fields and charts and some other new features as well, with many more to be added subsequently.
Importantly, we have been very careful not to add any complications so the platform will remain as simple and easy to navigate as always.
A further update on this will be provided as soon as possible.
Interest Rates
There are currently no planned changes to interest rates, but we continue to monitor this carefully and will provide further updates as and when any changes are anticipated.
As ever, if you have any queries or feedback, please do get in touch.
Happy investing!