An ounce of prevention is worth a pound of cure. That said, it is better to plan to fail than fail to plan.
Our Credit Panel draws on years of experience from both local and national property development, this gives us the opportunity to ensure that the exit strategy for Propifi Bridging loans are sound. However, from our experience, we also know that sometimes property deals change.
We are using our robust experience to ensure that any potential risks are identified at the point of lending. Each of these risks is monitored throughout the loan term; These will be listed as "Exit Monitoring" in the Investment Opportunity's Information Memorandum.
If at any point these risks materialise and it is felt this could impact repayment of the loan, we can support the Borrower to course correct. This monitoring feedback is shared with investors as an "Investor Update".
All Propifi Bridging loans are based on first charge security that can be called in on 30 day default loans.
Default fees are in place to cover additional costs and are detailed to the Investor, they are very much in place to facilitate the support for the Borrower to repay the loan without needing to call upon security.