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Post by loftankerman on Oct 10, 2017 13:01:04 GMT
My solution to the bucket of worms this has turned into would be to delete this thread, forget about it and carry on as though nothing had happened. Pretend you all went on a trip to Vegas.
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Post by loftankerman on Oct 9, 2017 8:36:51 GMT
I see the storm clouds are still gathering....... No problem, Lendy comprehensively dismissed all the baseless suggestions that things might not be well. I rest assured.
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Post by loftankerman on Oct 8, 2017 22:28:32 GMT
It looks to me like the decision to kick this thread off has gone pretty much as well as Mrs May's decision to call a snap general election recently. I find both saddening. You shouldn't... positive discussion is always the way forward. Great! I'm waiting, on both accounts.
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Post by loftankerman on Oct 8, 2017 20:23:44 GMT
It looks to me like the decision to kick this thread off has gone pretty much as well as Mrs May's decision to call a snap general election recently. I find both saddening.
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Post by loftankerman on Oct 8, 2017 8:08:54 GMT
I'm nearly out of Lendy now and this forum would be my best yardstick for deciding when or if I should return. I've dodged a few bullets as a result of listening to opinions posted here and continue to be grateful for its existence. I've even bought a few things from the adverts displayed in the footer, win - win.
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Post by loftankerman on Oct 7, 2017 8:32:24 GMT
What's with the anxious people on phones footage on the homepage? Have they just heard about the Exeter loans situation or the castle? If that's meant to encourage investors it doesn't really do the job, or may be its a new way of expressing the risks involved with Lendy...... Maybe the callers have found the risk warning unusually insistent in its repetitiveness and decided to get some further clarification. "Please obtain independent advice if you are in any doubt as to whether this platform is suitable for you or if you require tax advice. Please review our Please review our full risk assessment here." (my bold etc)
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Post by loftankerman on Oct 6, 2017 9:34:04 GMT
I smelled a rat and got out a good while ago. The images on Street View, especially around to the rear were most unappealing and the logic of supposedly having completed the development but then doping around musing about marketing was ridiculous. Marketing delays seemed more like a smoke screen to hide the fact that the wheels had come off and they were just paralysed waiting for everything to hit the fan.
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Post by loftankerman on Oct 3, 2017 10:05:10 GMT
I don't expect my few remaining loans with Lendy to be disasters and if they were, they are only about 6% of those that I have no expectation of recovering for the 'Bank of Dad' that I fund. In departing I see no benefit to anyone currently dealing with Lendy if I try to wreak havoc on the way out. I'm sure people with more at risk will feel differently.
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Post by loftankerman on Oct 2, 2017 14:45:03 GMT
"We are in constant dialogue with the Borrower and, having received assurances from the Borrower, it is anticipated that redemption of this loan will take place shortly." When will Lendy tell us just what the f**k is happening here? What about giving us some "assurances"? Oh no, silly me I'm forgetting - it's only our money at risk....... To be fair, I don't see how Lendy can give assurances as they seem to have been faced with non materialising assurances themselves pretty much from the outset. There was the early anticipated sale that evaporated. Then there was the calm with assurances all was going well, followed by hints and assurances around a fixable minor issue over access. Presumably Lendy are being stalled under cover of assurances of a non specific sale while planning permission for a helipad is sought. The absence of demonstrable fact in most assurances leads me to suspect that all borrowers are also Honourable Members of Parliament.
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Post by loftankerman on Oct 1, 2017 22:47:12 GMT
As for selling prices, I have always thought these were very expensive specification houses in the wrong place, maybe too close together on too small plots and with balconies that would be almost unused (or unusable). Oh good! I was thinking it was just me. When I saw the recently posted and removed photos of these 'houses' poking over the top of the barricade I thought they looked more like cramped holiday chalets rather than the trumpeted luxury homes. It made me wonder if the developer had seen the light and decided to call it a day.
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Post by loftankerman on Sept 30, 2017 8:59:16 GMT
Let’s say British Airways lost 1 of every 4 suitcases that were checked in, would people still fly with them. Well... If we go back to the disastrous opening of Heathrow T5. It was reported that the baggage handling/mishandling failure was such that it was deemed practically irrecoverable and cargo plane loads of baggage were being shipped off to India and being dumped, leaving the owners to make lost baggage claims. Whether that was 'fake news' or not, the story was out there and British Airways still seem to be coaxing the occasional passenger onto their planes. Lendy's position is readily recoverable if they opt for a confidence inspiring, professional mode of operation, rather than a wheeler dealer, 'now you see it, now you don't' one that ominously hints at further disasters around the corner.
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Post by loftankerman on Sept 29, 2017 15:44:53 GMT
I was buying them yesterday. Selling them on today. I can't understand why you would do that, unless of course you just like playing the CAPTCHA game they let you have a go at.
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Post by loftankerman on Sept 28, 2017 13:26:52 GMT
It seems the recent glut of bad news has spooked some investors to sell out completely as there seem to be some good loans (or at least loans I'm happy with holding) on offer like DLF003 50k, DFL022 65k, PBL168 200k (!). I'm not risk averse when the risks are pretty much what I'd expect in any particular field and I don't risk anything that I'd be feeling totally gutted about if the worst happened. However when there are regular movements of goalposts and rules of the game, and elements of the quantifiable risks turn out to be little more than fanciful marketing window dressing, then there is nothing that can really be assessed as a good loan. The imminent end game of some current loans is evidence of that. I felt a wind of change here in March. Since then I have doubled my overall investment in P2P but reduced my Lendy investment to 20% of the March total. I have four Lendy loans at present and am as moderately confident about three of them as I can be. I'm not investing in any further Lendy loans but will reconsider the situation if they are still around and have smartened themselves up in a couple of years. I have said in previous posts that their characteristic behaviour is one of the desperation of a company that is circling the drain. I hope for everyone's sake that I have misread things and one day I can come back with a measure of confidence that I first had on finding Saving Stream.
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Post by loftankerman on Sept 26, 2017 22:15:53 GMT
Ironically, I have an advert at the bottom of my page: "Don't get held hostage by ransomware". Sophos offering to prevent aforementioned threat. Shame they can't also protect strips of land... Mine was showing fleece waterproof trousers when I read this. I'm pleased to say I won't be needing them to contain my anxiety as I passed on this loan. That hasn't stopped me being appalled by the outcome though.
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Post by loftankerman on Sept 25, 2017 7:37:44 GMT
Plenty on the secondary market now! I'm not sure how this fire alters the big picture though. if at all. I suppose big picture-wise we normally expect a fire sale to be at the back end of a loan and not quite so close to the front...
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