Before investing in one of our Peer to Peer loans it is extremely important that you read and familiarise yourself with our P2P Underwriting and Procedures Manual so you are aware of the extensive criteria a loan applicant must meet before we accept them as a client.
The manual covers the deal life cycle and process, the criteria for the loans we will accept, and the redemption of the loan process, including the recovery procedure that is followed if the loan goes into default. Loans of this nature can and do go into default, so it is vital you understand the procedure that is undertaken when this event occurs which is covered on page 24 of the below manual.
Click here to download our P2P Underwriting and Procedures Manual.
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.
|Development and Bridging Data:||2015||2016||2017||2018||Cumulative @ 31/1/18|
|Actual default rates:||11.1%||24.0%||28.6%||n/a||24.2%||*See note below|
|No of loans completed||9||31||88||4||132|
|Total value of loans completed||£2,312,074||£16,095,000||£31,122,700||£1,366,000||£50,895,774|
|Average loan period (months)||11||11||9||9||9|
|Investor Capital Lost||0%||0%||0%||0%||0%|
|Average loan size||£256,897||£519,194||£353,667||£341,500||£385,574|
|No of loans due to be redeemed||9||25||28||0||62|
|No of loans redeemed on time||8||18||17||0||47||75.8%|
|No of loans redeemed late||0||5||2||0||4||6.5%|
|No of loans in default||1||2||9||0||11||17.7%|
*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). Please note that to date 100% of capital has been repaid on all House Crowd loans.