NSFW
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Post by NSFW on Jul 18, 2018 12:36:49 GMT
Just makes things worse to vote option 1, at least not right away. More borrowers will try this trick. If you need money out quick you shouldn't have risked locking it up in loans in the first place.
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NSFW
Posts: 118
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Post by NSFW on Jul 18, 2018 11:36:54 GMT
The workable example of circa 103%-105% return before recovery is twisting the facts ridiculously. That's clearly only the case if you invested on Day 1 of the initial loan which simply isn't the case for a large number of people considering there were 11 total DFL tranches. What about all of the investors who purchased on the secondary market or the 11th tranche in November 2017? They are being expected to take a significant haircut. I think I'm looking at about a 6 percent loss, thereabouts. It doesn't have to be that way, it is that way because the borrower and Lendy have decided to keep my money and split it between them. The money's there, make no mistake. It was there for PBL120 in the end. But here we go again. Thought things were looking up when Lendy got full FCA authorisation and 3 borrowers paid back in full. Ah well.
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NSFW
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Post by NSFW on May 10, 2018 2:14:30 GMT
If you need more data than those provided here, ask the friendly team at Lendy.... To me just suffice to say that the lenders are due less than 900k in total and the site was professionally valued 2.6 million even before a single stone was posed in (and is now not too far from completion). You have photos, professional reports etc on the status. Costs for drafting contracts and selling were already in the original plan. The only thing that is changed is that the lenders here don't have any committment to save the builder or the people who already payed for an apartment onsite. To me the margins are very ample (and this is why the clever Lendy team thought to this nice scheme to deprive lenders from their interests via a friendly lender). The site was professionally valued 2.6 million... i understand your point, but The Castle was also professionally valued at a figure higher than the loan. I personally don’t have the appetite to wait 18 months to find out whether the valuation is correct. I’m probably irrational because I’m one of those lenders in too deep and wanting my money out ASAP. Nonetheless, I voted to accept the offer, I want out. So then we might get more BS offers. Interest free loans. Not good.
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NSFW
Posts: 118
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Post by NSFW on May 9, 2018 20:52:27 GMT
I'm concerned that lenders who don't bother even checking out loans here will just accept the generous offer to appropriate interest/bonuses owed. I have a friend who has never seen the point in this forum and simply trusts Lendy to do what's best. That's why Lendy nudges people in the votes on what action to take. It's all in the wording. Maybe that's the true definition of a "retail investor".
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NSFW
Posts: 118
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Post by NSFW on May 9, 2018 14:06:17 GMT
I would like to vote no but the vote button remains greyed out whatever option I choose. Does anyone else have this issue? I'm not in this loan but I received the email addressed to me, by name, inviting me to vote. I wonder if this is a technical issue or a competence one. These days Lendy seems to just email everyone. Could try a different browser I guess.
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NSFW
Posts: 118
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Post by NSFW on May 9, 2018 12:19:20 GMT
I imagine so they can say: “No one at Lendy has lost money apart from accured interest in 120 and that’s only because the lenders voted for it”. PBL081...
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NSFW
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Post by NSFW on May 1, 2018 19:10:24 GMT
I'm earning 7.2% exactly, currently. Could be worse I guess.
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NSFW
Posts: 118
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Post by NSFW on Apr 8, 2018 16:09:41 GMT
11/5/17 update: The agent is planning to visit the site this week and has advised a price over £4m is very achievable. 21/12/17 update: we have accepted an offer to acquire the property at £1.9m To add to your comments above, on their voting page, option1: “with the balance of capital, accrued interest and bonus accrual to be recovered from claims against relevant parties which Lendy's lawyers have advised have a good prospect of success.” How much truth are there in it?! Just nudging investors into voting for option 1 I think.
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NSFW
Posts: 118
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Post by NSFW on Apr 6, 2018 21:23:55 GMT
Lendy are too fun and maverick for the FCA. I miss the days when Lendy would pay us the 1% per month even if the loan had gone tits up. Hope for the best and all that, nothing to see here. It's actually a cool thing to do. Bit negative to suspend interest payments and make people worry and have doubts. FCA are boring and miserable tossers.
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NSFW
Posts: 118
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Post by NSFW on Feb 28, 2018 17:27:12 GMT
Lol another 1% paid back. Result!
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NSFW
Posts: 118
Likes: 58
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Lending Works (LW)
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Jan 6, 2018 6:20:17 GMT
via mobile
Post by NSFW on Jan 6, 2018 6:20:17 GMT
NSFW I've been in contact with LW CS. I have what's a previous years subscription (1p) due to a technical error which caused repayments to be sent to wallet rather than reinvested. This 1p is a compensation payment for any lost interest. Just need to clear up how I stand with it being a previous years subscription - I didn't have a LW account last tax year, I hope this doesn't break any HMRC rules on 1 IFISA subscription per tax year. Yeah, I only joined this tax year also. Guess I'll see if CS can do anything about it.
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NSFW
Posts: 118
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Lending Works (LW)
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Jan 4, 2018 6:31:43 GMT
via mobile
Post by NSFW on Jan 4, 2018 6:31:43 GMT
Hi NSFWHope you've had (or are having) a few days' downtime. Please let me know if you are still seeing the Firefox issue as our tech team have tried multiple times to recreate but are not seeing the same problem. Many thanks! Thought it was fixed a while ago as it's no longer an issue. Still have an issue with offers less than a quid though. Had to cancel a 1p offer from the 1st of last month sitting there stuck. Shame those bits aren't merged when new funds are put in the offers section. The weird thing is that the 1p was splintered off needlessly from a £100 transfer in + a few pennies I merged manually to get it all on offer. Lol this 1p refuses to be matched. Got splintered off from a larger sum again like last month.
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NSFW
Posts: 118
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Lending Works (LW)
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Jan 2, 2018 15:48:45 GMT
via mobile
Post by NSFW on Jan 2, 2018 15:48:45 GMT
Would be good if auto-invest ignored sums less than £1 as they don't get re-invested anyway. Also, cancelling unmatched offers isn't displayed correctly in Firefox for Android. The selection box just resizes a bit instead of having a check/tick. Hi NSFWHope you've had (or are having) a few days' downtime. Please let me know if you are still seeing the Firefox issue as our tech team have tried multiple times to recreate but are not seeing the same problem. Many thanks! Thought it was fixed a while ago as it's no longer an issue. Still have an issue with offers less than a quid though. Had to cancel a 1p offer from the 1st of last month sitting there stuck. Shame those bits aren't merged when new funds are put in the offers section. The weird thing is that the 1p was splintered off needlessly from a £100 transfer in + a few pennies I merged manually to get it all on offer.
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NSFW
Posts: 118
Likes: 58
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Post by NSFW on Nov 10, 2017 7:27:50 GMT
5 year rate is going down from 5.5% to 5.3%. Seems a bit odd.
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NSFW
Posts: 118
Likes: 58
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Lending Works (LW)
Auto Settings
Nov 4, 2017 7:13:04 GMT
via mobile
Post by NSFW on Nov 4, 2017 7:13:04 GMT
Would be good if auto-invest ignored sums less than £1 as they don't get re-invested anyway. Also, cancelling unmatched offers isn't displayed correctly in Firefox for Android. The selection box just resizes a bit instead of having a check/tick.
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