Important Information & Legal Documents

Before investing in any of our loan products it is extremely important that you read and familiarise yourself with the documents below.

The template legal charge documents are examples of the documents used by our solicitor which are signed by ourselves and the borrower(s) before a loan is made. The flowchart recovery documents detail the legal process we follow when a loan goes into late-paying status.

In addition to the documents below you should also read the individual T & Cs for the individual product or loan you are interested in, which is available when you click ‘More Info’ next to the particular product/loan.

Please note: All the listed secured loans are not regulated mortgage contracts because they are either second charge business loans which are excluded from the definition of a regulated mortgage contract, buy-to-let agreements or loans secured against commercial property.

Legal Charge Documents

Used in England and Wales for all peer to peer and development finance

Summary table of development and bridging loan data

Development and Bridging Data 2015 2016 2017 2018 2019 Cumulative @ 30/09/19
Default rates 11.1% 23.3% 39.8% 13.7% 0.0% 27.6% *See note below
Currently in default 0.0% 6.7% 18.1% 9.8% 12.6%
No of loans completed 9 31 88 73 33 233
Total value of loans completed £2,312,074 £16,095,000 £30,747,700 £25,086,000 £17,917,786 £91,758,660
Average loan period (months) 11 11 9 9 12 10
Average loan size £256,897 £519,194 £349,406 £343,644 £542,963 £393,814
**No of loans due to be redeemed 9 30 83 51 1 174
**No of loans redeemed within tolerance 8 23 50 39 0 120 69.0%
**No of loans redeemed beyond tolerance 1 5 18 2 0 26 14.9%
**No of loans not redeemed within tolerance (still active) 0 0 0 5 1 6 3.4%
**No of loans in default (not redeemed beyond tolerance) 0 2 15 5 0 22 12.6%
Average late days 30.5 157.9 237.4 78.7 N/A 168.0
Average late days incl HCBC1 funded out 202.3 162.7 211.0 80.0 N/A 166.1
% of investor monies lost to date 0% 0% 0% 0% 0% 0%

*Figure shows the % of loans that have gone into default* (*defined as a loan that was either repaid more than 8 weeks following the end of the loan term or is currently in default).

Actual default rates based on redeemed loans with a 180 day tolerance threshold. Please note that to date 100% of capital has been repaid on all House Crowd loans.

**Note- Please note that redemption and default figures are based on the year the loan is made in e.g If a loan is made in 2017 and redeems in 2018 (even if late paying) the stats for it will be recorded in 2017.