The troubled one we mentioned takes obviously ways longer to get sorted then normal. But Zagga provides monthly a long and detailed update on the ongoings which are pretty complex with this mortgage. I appreciate that a lot, communication is very good with and from them.
At the end we should get the the money back plus all that long time interest, so I watch and see.
Right fair enough I guess thats the risks you take with these loans that the development goes under owing many creditors ...
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
I see Zagga getting more loans lately ..Banks pulling back for developments and even res investors
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Going so many more coming the way the banks are lifting requirements and rates difference I'd say not much different for the style of loans being commercial if anything Zagga might well be a cheap place to go for short term commercial lenders
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Everyone still doing good over here? Anyone had a default? I've been a member for a few years, but only just starting investing. Like Saamee, somewhere to park Lending Crowd funds as those come through.
What I've noticed so far is that the loans tend to get sweetened up with a higher interest rate if they don't get filled quickly. The current loan available is showing 10.35% for a 9 month term.
Hi kiwical. I've been investing with Zagga for 4 years among other P2P options (LC was one) with 2-4 investments open at any one time. I've only encountered one default on my investments which was handled very well with prompt notification followed by regular open and transparent updates. All was returned along with full interest in arrears right up to date of final closure. It was also settled pretty much as quickly as the turning of the legal wheels and statutory notices periods etc allow. I've never had any issues with their customer service and various queries I've had either so I rate them pretty highly. Chalk and cheese compared to that other mob...
Originally Posted by Mike64
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