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.
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.