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What is a default and what happens next?

Zoe Disco avatar
Written by Zoe Disco
Updated over 2 weeks ago

A default is when the borrower is over 180 days late with a payment.

If this happens we will declare the loan as being in default and enter our formal recovery process where we can take possession of the property and sell it to regain your funds.

You can read more on our expected and actual default rates on our statistics page.

We are proud to say that the actual default rate to date is currently 0.00%.

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