Review Time
I love Blend for almost everything they do, but there's one thing that's intensely annoying. You have to use AutoLend to invest in multiples of £1,000. When you try to increase your lending, say from £1,000 to £2,000, they force you to switch off AutoLend to make the change, pushing you to the back of the queue and unable to lend for the next few weeks/ months. The only reason investors try to increase their loan amount is to build their money in the platform, so forcing them to be out of the market altogether is guaranteed to annoy. I can't understand why Blend wants to punish their investors for showing greater commitment to their platform.
Roxana is very knowledgeable and helpful in the feedback and advice both. I think their investment portfolio and domain expertise is pretty solid and many will do fine by listening to them. Blend's ability to listen to, turn around with great options and actually deliver on their promises is what's made the experience great.
Roxana has been a game-changer for my property development business. Their platform is intuitive and efficient, making it easy to navigate and find the right funding opportunities. The team at Blend is incredibly responsive and supportive, always going the extra mile to ensure a smooth process. I've been particularly impressed with their ability to tailor financing solutions to my specific needs. With Blend, I've been able to secure the funding I need to bring my projects to life, and I wouldn't hesitate to recommend their services to other property developers.
I’ve been using Blend for a number of years now and the overall returns are good. The site is intuitive, easy to navigate and the team are responsive to emails which is good.However, you need to manage your cashflow on the site, otherwise you have too much money sitting idly in their accounts. But I can manage that. You are investing in construction projects which are riddled with issues and delays. I accept that, this is why my investment earns the higher interest. What I really dislike about Blend is their communication when there is a delay. Previously I received emails after a borrower missed their payment date, telling me that they agreed an extension or like in a case from today, I received an email last month telling me that a borrower, who should be repaying today will likely need an extension. There is no mention of how long the extension is going to be. Also it was not followed up with anything. If you need money back at a certain point, I would suggest you do not invest it here.This might also help them maintain their low default rate, they simply change the terms before a borrower defaults. I can accept that, if it gets me my money back, but if there are delays, I want to know upfront and I want to be compensated for it in all cases - to date only in a few cases have they increased the interest for the borrower.All in all, a really good product delivered by a great team that only falls short in their communication. I will continue to invest with them, just not money that is earmarked for something else.
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BLEND is an investment platform for institutional investors and family offices to co-invest in real estate debt backing mid-market schemes underserved by traditional lenders.
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