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Property P2P Co. with Zero Losses Lowers Minimum Lending Amount
LendInvest, the largest property P2P lending company, has just reduced its minimum lending amount from £10,000 to £1,000, bringing it into the reach of many more lenders.
LendInvest will also soon enable automatic lending and the ability to sell your loan parts to others. In addition, if you're technically minded, you will be able to get loan data through an API.
The P2P lending company is of interest to a large number of lenders. No lender has lost money in LendInvest since it started in 2013.
LendInvest is an offshoot of Montello Capital Partners, which has been an ordinary short-term bridging loans since 2008. Although Montello had some hairy moments in its early days, and there were a few delayed payments, no investors have lost money from then right up to when LendInvest started.
LendInvest has funded over 300 properties with an average loan-to-value of 58%. It has completed over £180 million in loans.
LendInvest impresses with its 400 checks on borrowers and their security. Interest rates have been creeping own so that the average return is now 6.65%, but that is still high for a P2P lending company with no bad debts.
We can't wait to add it to our comparison tables, although I'm afraid we have to wait as we can only slot it in some time in January.
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