BridgeCrowd: Peer to Peer Lending reviews

2.83
Based on 6 reviews, last reviewed 23rd Sep 2021
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Latest highest rating: 5

TheBridgeCrowd now called SoMo I've been investing heavily with them for several years now and never lost any money. Interest rates have been great and although there are more defa... Read more Reviewed on: 17th January 2021
Mike WIlson's avatar
Mike WIlson

Latest lowest rating: 1

Don't touch They have no clue how to go about any case, slower than any standard mortgage, a total waste of time. Reviewed on: 23rd September 2021
Judy's avatar
Judy

About the Peer to Peer Lending

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BridgeCrowd Peer to Peer Lending reviews (6)

Don't touch

1
They have no clue how to go about any case, slower than any standard mortgage, a total waste of time. Reviewed on: 23rd September 2021
Judy's avatar
Judy

TheBridgeCrowd now called SoMo

5
I've been investing heavily with them for several years now and never lost any money. Interest rates have been great and although there are more defaults during the Covid crisis the BridgeCrowd deal with these efficiently yet sympathetically as long as the defaulting borrower is responsive and co-operative. All loans are secured on UK property at a realistic valuation and no more than 70% loan to value which gives a decent buffer against default and enforced sale of the property to repay investors their capital, their interest and legal and sale fees. Bad reviews seem to come from disgruntled borrowers whose loans either dont go through or have defaulted and dont want to pay the loan back as per the agreement they made when they took out the loan. Reviewed on: 17th January 2021
Mike WIlson's avatar
Mike WIlson

100% positive

5
Investing invest for last 5 years no issues Unlike lendy crooks Housecrowd crazy valuations Reviewed on: 21st August 2020
Kus's avatar
Kus

Lie, lie, lie and lie and then still lie.

1
This firm according to an article on the net, reject 93% of applications, charge you £350 to apply and do not refund you, if the loan does not go through. They, lie, lie, lie and lie and then still lie. Their default rate is 48% (3%pm and 6% every 6 months, which on a bridging loan I have never seen such high rates elsewhere, with amounts normally quite large, if a house sale falls through can cause you to have to pay life changing amounts of money. Their greed is palpable. They fail to answer Subject Access Requests, fail to provide a copy of the survey report even when they renege and cost me over £3000 in fees etc I am suing them for. On the other side of their business as an investor I would not trust them with my money. Lying is rife in this firm, from their Business Development Manager Amer Watson, Underwriter Kyle Hunt, Head of Underwriting Rob Johnson who threatened me, to their Director Louis Alexander, lying to Companies House saying he is a Barrister, but not registered at The Bar as one. Dishonesty runs deep in this firm. Reviewed on: 3rd December 2019
Adam A's avatar
Adam A

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