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BridgeCrowd: Peer to Peer Lending reviews

Name: Peer to Peer Lending
Rating: 2.83 (6 reviews)

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2.83

Based on 6 reviews, last reviewed 23rd Sep 2021

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

33%

17%

3 star

2 star

50%

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

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

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About this product

Bridgecrowd peer lending reviews on Smart Money People help people like you thinking about what life is like as a Bridgecrowd customer to find this out. What is customer service like? Is the online experience quick and simple? You can find this out by reading our Bridgecrowd peer lending reviews. If you are a Bridgecrowd customer, you can also write your review today!

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BridgeCrowd Peer to Peer Lending reviews (6)

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

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 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

100% positive

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

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

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

Professional company with good loans and good rates

I have invested in 15 different loans on the BridgeCrowd platform over the last year and I am very happy with the platform. I have had contact with Louis on a number of occasions and I have always found him open, honest, and helpful. Sometimes responses to emails from the support team can be a bit slow and it can take time to get invested because of the mechanics of cash transfer and the speed with which loans are filled. Reviewed on: 12th August 2017

Not To Be Trusted

I am having to litigate against this company following paying them money in good faith. When I requested that my money be returned, many assurances were given that it would be, but their Managing Director has prevaricated greatly and has failed to return it ! Their business model relies on members of the public investing money with them. My experience of their business morals and conduct are such that I must warn you against giving them your money, as they seem quite prepared to bite the hand that feeds them and, certainly, have no concept of the importance of good customer relations ! Reviewed on: 28th July 2017