Are loans available on the resale (secondary) market as good as direct from SCP?
We want investors to be confident that loans available on the secondary market are the same quality loans as any new loans on offer. That’s why all resale loans are reviewed before being published on the portal’s investment opportunities page to ensure they still fit our strict criteria.
Loans cannot be resold to other investors that:
- Have payment arrears over 30 days
- Have an active hardship application
- Are subject to an active Property Law Act notice
- Have a scheduled mortgagee sale date
- Have expired
There are many reasons an investor may need their funds repaid earlier than expected and needs to re-sell their investment. This can include a purchasing investment property or retirement unit, helping family or home renovations and that’s why investing with SCP offers the flexibility many of our investors need.