EstateGuru investors financed €16.9m of loans in October
EstateGuru investors financed a total of 104 loans valued at €16.9m (£14.4m) in October, according to the latest update from the European peer-to-peer lending platform.
The largest volumes came from Estonia last month (€6.1m), while Germany – typically EstateGuru’s biggest market – contributed €4.1m.
The repayment of loans increased from September to €8.8m in October, with investors’ return on repaid loans remaining at 10.4 per cent.
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EstateGuru said the default rate is still stable at around eight per cent but noted a “significant default increase” in Finland, where one project was put into default (€1.5m).
It said that a defaulted project repayment was successfully concluded in Estonia (€200,000).
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Furthermore, at the beginning of November a successful auction was completed in Estonia and EstateGuru said it anticipates a €1.2m payment to investors to be finalised during the first week of December, at the latest.
EstateGuru also said it has hired a new risk management lawyer to support the platform’s debt management in all of the countries in which it operates.
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