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Post by overthehill on Jan 5, 2024 15:47:59 GMT
I think they've given up the ghost.
I see that the final unit in a property exchanged on the 1dec2023 and I still haven't received notification, unacceptable. Eventually an email will appear stating property sale has completed and it will take 2 months to shutdown the SPV (so a minimum of 3 months for investors to get their money back)
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beh
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Post by beh on Jan 24, 2024 12:17:56 GMT
I think they've given up the ghost.
I see that the final unit in a property exchanged on the 1dec2023 and I still haven't received notification, unacceptable. Eventually an email will appear stating property sale has completed and it will take 2 months to shutdown the SPV (so a minimum of 3 months for investors to get their money back)
Nice to see it come through today, not quite as slow as expected.
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Post by overthehill on Jan 31, 2024 13:31:42 GMT
Another day, another quarter update, another dollar or to be precise 100 less dollars.
That's my paper profit down to £581 over 7 years having peaked at 20k investment, prediction of 0 profit after remaining properties are FINALLY sold still on track.
Another day, another quarterly update, another dollar, 1 exit and 85 less pounds.
That's my paper profit down to £481 over 7.3 years having peaked at 20k investment, prediction of £0 profit after remaining properties are FINALLY sold still on track.
Looking good compared to fundingsecure and ablrate...
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benaj
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Post by benaj on Jan 31, 2024 13:45:43 GMT
Mine, paper P&L looks good. But realistically I am expecting a loss of £££ due to one bad DL.
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Post by overthehill on Jan 31, 2024 14:01:23 GMT
Mine, paper P&L looks good. But realistically I am expecting a loss of £££ due to one bad DL.
I never considered any of the development loans. Is there a historic performance record somewhere ?
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benaj
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Post by benaj on Jan 31, 2024 14:16:14 GMT
The problem is as usual, my choice. 🤣
The developer’s track record seems ok on paper and satisfying charges as usual.
I had two DLs from the same developer. One repaid in full, the other is way overdue, 43 months overdue. I was too optimistic about this high risk project, didn’t realise the demand for such development is low.
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Post by scepticalinvestor on Jan 31, 2024 21:09:55 GMT
The problem is as usual, my choice. 🤣 The developer’s track record seems ok on paper and satisfying charges as usual. I had two DLs from the same developer. One repaid in full, the other is way overdue, 43 months overdue. I was too optimistic about this high risk project, didn’t realise the demand for such development is low. I'm in the Devon one, was supposed to end in late 2020 but had one thing after the other that went wrong. I'm not fully au-fait with the numbers but experience with other dev loans going bad with other p2p outfits tells me that this will result in some capital loss.
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jester
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Post by jester on Feb 7, 2024 16:43:56 GMT
Made the painful login to LHX to see how my shambles of a portfolio is looking and it's a landmark day .....
After numerous years of investing across a wide portfolio of properties my predicted performance has slipped into negative territory!!
Fantastic 👏 now actually losing money and no doubt the reality is even worse than their predictions.
Pathetic
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Post by overthehill on Mar 1, 2024 16:18:53 GMT
March update advertises a new mortgage bond at 8.35%.
They've not updated the stat page which shows units sold in Feb2024, I'm sure they will do it after reading this. Or maybe there were none.
The interest in selling shares in any 5 year exit property is resigned and apathetic and the interest in buying is now almost nil or 0.1%, hardly surprising when the property is available on the secondary market at a big discount because it is not selling there either !
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