How can we help you?

P2P is a marketplace that matches those with a borrowing need with those with a desire to invest. The Go Lend P2P platform is dedicated marketplace for P2P loan opportunities that are secured by registered mortgages over land.

All investments come with a degree of risk. Lending opportunities are assessed against risks factors including:

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1. The risk of default – This is the risk that a borrower fails to make their regular payments.
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   With a borrower's consent, the platform will disclose the enquires made to assesses a borrower's ability to make their regular interest payments, which can then be considered by any potential investor.
   
   In many cases the decision will be made by the platform to retain sufficient loan proceeds from the borrower to adequately fund their loan payments over the contracted term of the loan. This mitigates the risk of default for investors during the agreed loan term.
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2. The risk of loss – This is the risk that a borrower is unable to fully repay the loan advance.
   
   All Go Lend loans are secured by way of mortgage over the security property, which is held in trust on behalf of the investor. We try to manage and resolve issues with a borrower as quickly as possible. If needed, default interest is applied, or the property is sold to recover funds. All of these steps are communicated to investors, so you know what is happening.

The Go Lend staff have vast experience, spanning many decades, in managing property backed loans. We try to manage and resolve issues with the borrower as quickly as possible. If needed in the event of a borrower's default on their loan, default interest can be applied, or the secured property can be sold to recover funds. All of these steps are communicated to investors, so you know what is happening.

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We also have loans that are serviced by Prepaid Interest. This is where we hold the interest required to service the loan in a trust account for the borrower.  We control the interest payments, reducing the risk that the borrower doesn’t make a payment. We will let you know whether a lending opportunity is serviced by Prepaid Interest, before you commit.

LVR is a measure of how much the borrower is borrowing compared to the property’s value (for example a $500,000 loan on a property with a value of $1,000,000 would show a LVR of 50%). A lower LVR tends to indicate a lower risk of loss for a lender as there is more equity ownership by the borrower in the property, which can cushion situations where a forced sale of the property is required, and the property price has dropped in value.

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Unlike typical managed funds, Go Lend as a peer-to-peer platform provides investors with control and choice over the exact lending opportunities they invest into.

Go Lend manages the entire process. Go Lend assesses each loan opportunity then contributes the initial funding of all loans that meet our assessment criteria. This means that if, for whatever reason, investors do not choose a particular opportunity, then Go Lend is happy to stay funding the loan throughout its entire term.  We believe this gives investors additional faith that we are comfortable putting our own funds into every loan opportunity we present. Go Lend then manage each loan, monitoring loan payments and distributing to the relevant investors, and facilitating the full repayment at loan maturity time.

The lender of record is GLG Trustees Limited. This entity holds both the mortgage securities over the borrowers' properties and the loans themselves in trust for whichever investors own each loan opportunity. The trust keeps a register of who owns which loan, the supporting security, and any additional funds held in the trust account. Whilst Go Lend manages the platform and oversees the loan during its lifecycle, Go Lend has no claim or rights to investors' trust funds or mortgages – the trust (GLG Trustees Limited as trustee) holds all funds and mortgages for the sole benefit of the investors.

Unlike most wholesale lenders, Go Lend is a licenced Peer-to-Peer lending services provider, with the licence provided by New Zealand's Financial Markets Authority (FMA), and is registered on the Financial Service Providers Register. The FMA issued Go Lend with a Peer-to-Peer lending services licence under the Financial Markets Conduct Act 2013. Under this licence we have conditions on how we must operate, including audit requirements.

There are many reasons that various borrowers will require a short-term property loan. Often the short-term nature of their lending requirements will be prohibitive in them obtaining mainstream bank funding. Go Lend has an extensive network of mortgage advisers, who specialise in these short-term loan solutions, and submit prospective loan opportunities to Go Lend to assess. In some cases, prospective borrowers will also contact Go Lend directly. Not all opportunities are the same! We spend a great deal of time to hand pick quality loans we assess to be a good mixture of an appropriate risk profile but with a reasonable interest return.

Your investment is locked in until the loan matures, but you can use the Secondary Market service to sell your loan to another investor, subject to certain criteria. We will not allow investors to resell loans to other investors if the loan has any negative credit issues (if the loan is in arrears, in default, is subject to a mortgagee sale etc). It needs to be fair for everyone.

The minimum investment in any one loan is $1,000. However, you can save up to this by depositing into your GLG Trustee Limited on call wallet, currently earning you 3.50% pa. This interest rate is current as of the date of publication and is subject to change at any time without notice.

We provide guidance on how the platform works and try to make as much information available to you. However, we are not financial advisers and we do not provide financial advice. You should consult a financial advisor for any specific advice and how an investment opportunity may relate to your personal situation.

When borrowers interest payments are received or a loan is repaid, payment is then forwarded onto the various investors involved, proportionately in line with each investor's ownership of that loan. The investor payment is made into each of the investors call wallets, held with GLG Trustees Limited, which in turn is a trust account held with Bank of New Zealand. The investor call wallets earn interest daily and which is paid monthly, based on a rate of the current Official Cash Rate (OCR) less 0.5%. You are free to withdraw anything held in your on-call wallet at any time, unless you have already committed it to an upcoming investment.

Yes the borrower can repay at any time and we are required to accept borrowers funds to apply to their loan at any time, including full repayments. You may also receive a partial repayment of your capital in any particular loan. In which case it means the borrower has made a payment that covers part of the loan, but not the full amount. This could happen for several reasons, such as selling a property, a negotiated payment arrangement or financial difficulty on the borrower's side. While the partial repayment reduces the remaining balance of the loan, interest will continue to accrue on the unpaid portion. Go Lend will keep monitoring the loan and communicate any important updates regarding the borrower’s repayment situation.

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Resident Withholding Tax (RWT) is automatically deducted from your interest payments at the rate you selected on registration and sent to the IRD, you can change your rate at any time in your personal settings within the platform.

Yes, we ensure that the security properties backing these loans are adequately insured, and we also monitor for potential lapses in policies. However, we are not necessarily notified by every insurance company if a policy has lapsed or is canceled.

No, KiwiSaver funds cannot be used for these investments.

All investor funds held, and/or loans/securities owned, are all facilitated through the trust company GLG Trustees Ltd. This means investors funds are ringfenced to only the loans they choose to be involved with. Investors do not invest directly into the Go Lend Ltd management company so in that way are not exposed to viability of the platform itself. If Go Lend fails, another provider (outlined in our termination plan) would take over the management of GLG Trustees which holds your loan, which remains held in trust.