New peer to peer lending platform Viventor is now open for business. The online lender announced last month its intent to start offering loans secured by mortgages. Â To incentivize investors Viventor states that “all investments made until December 1st, 2015 will come with a buyback guarantee”, thus shielding investors from any loss.
Based in Riga, Viventor is closely affiliated with Spanish finance group Prestamos Prima. Â According to an earlier report, Viventor will offer no loans higher than 50% LTV. Open to European investors, recent information states the loans will be from different European countries, generating returns from 6% per year.
Andris Rozenbahs, who is COO of Viventor and listed as CEO of Prestamos Prima Group, stated;
“We want to show our investors that investments made via Viventor is a safe bet. All of the loans listed come with Buyback Guarantee and are secured by mortgages. Moreover, the loan originators keep at the very least a 5% share in every single deal, thus ensuring that investors are never left alone. Keeping in mind that these investments generate a fixed annual return of 6% and above – I’d say it is a solid deal.”
A minimum deposit of €500 is required to open an account on Viventor with a minimum €10 investment per loan.