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.
