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Mike WIlson

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Review of the BridgeCrowd, Peer to Peer Lending:

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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

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