LandlordInvest reassures investors amid spike in secondary market activity
LandlordInvest has reassured investors about the health of its loans amid an increase in secondary market activity.
The peer-to-peer property lender said a handful of lenders have been contributing to increased activity on the secondary market.
It comes amid concerns regarding the coronavirus pandemic, which the platform said it is monitoring.
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“LandlordInvest’s services will continue as usual and we do not foresee any significant disruptions to our service level going forward,” a note to investors from LandlordInvest said.
“We are closely monitoring the situation and we will provide further updates if required
“We note that there is increased activity on the secondary market although there has not been any changes to the underlying loans or loan security.
“We also note that only a handful of investors account for the vast majority of the activity.
“We anticipate that some borrowers may request forbearance and it will be treated on a case-by-case basis subject to the particular borrower’s loan servicing history and others in line with our regulatory responsibilities and industry standards.”
The coronavirus pandemic and fear of the virus played a part in a huge drop in the FTSE earlier this week, which platforms reassured investors did not affect them.
