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Originally Posted by Darchie
Will be interesting to hear about others experience registering with this new P2P
I have registered am looking at whats on the market - which so far has only been 1 x residential property purchase loan at 8.29% - On a 5 year term with interest only repayments.
For me harmoney works well because I can invest small amounts over lots of loans ($25 minimum)
Squirrel Money has potential because while it has a $500 Minimum and it has loan shield
Lendme however has $1000 minimum and nothing like loan shield - So im not sure ill be able to make it work for me
The 3 companies have also taken very different approaches in what they disclose about the borrowers to investors
Harmoney - borrower demographics, loan amount, repayments, income, location, credit grade.
Squirrel Money - for all intensive purposes nothing is disclosed - just secured/unsecured
Lendme - Everything is disclosed the current loan has full name, address, several months bank statements, full credit checks on both borrowers, full list of other assets, copy of property sale & purchase agreement
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