username
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Post by username on Sept 22, 2017 7:22:23 GMT
I'm sure Lendy have a good idea of what's going on. They've already stopped us selling the parts, so I can't imagine there's much to lose by being transparent. Very poor effort at communication, and I don't see why I should continue to invest my money here.
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username
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Lendy (L) in Administration
PBL 47/48/49
Sept 22, 2017 7:16:20 GMT
via mobile
Post by username on Sept 22, 2017 7:16:20 GMT
Any way to see the outstanding interest and 'bonus'? Seems like the interest has been reset on the replacement part, and the 'bonus' only shows for the remaining amount.
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username
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Post by username on Sept 15, 2017 17:19:36 GMT
"The report has highlighted issues which could significantly adversely affect the value of the security"
Oh dear :/
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username
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Post by username on Sept 14, 2017 11:10:45 GMT
Is it me or has Lendy's community engagement really dropped off?
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username
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Post by username on Sept 13, 2017 18:23:10 GMT
Great research twoheads, and all very troubling. Confidence in the infrastructure is so important. Makes me wonder what other gremlins are hidden away behind the scenes.
Do we even know if there is a robust backup / disaster recovery plan in place? If the database becomes corrupted will anyone know who is owed what?!
Not to mention penetration testing...
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username
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Post by username on Sept 12, 2017 13:26:55 GMT
I think Lendy ought to refund the lost interest on those loan parts for sale, given the misrepresentation of the sales queue.
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username
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Post by username on Sept 11, 2017 22:38:20 GMT
Same, I don't like feeling like a mug. I'm pulling out.
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username
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Post by username on Sept 10, 2017 15:51:39 GMT
I don't like this new procedure. My sales queue position as showing in my account is clearly a bit misleading as when people buy into the loan my sales queue figure doesn't change. This needs to be sorted out to give greater clarity to investors/sellers as it now seems impossible for me to know when I might sell. You can see your real position in the queue by viewing the details of your selling loan part. [At least, I believe this to be the real position.]
As far as I know, this view is not reachable from links on the website. It can however be reached by entering the correct address in your browser:
lendy.co.uk/my-loans/part/1517558 (substituting the correct loan part ID in the address).
Obviously, you can only view loan parts which you own.
Jesus Christ, first loan I looked at (DFL004) - selling tab indicates 59k in front, using your direct link shows 226k! Surely this can't be right?!
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username
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Post by username on Sept 4, 2017 17:48:07 GMT
There seems to be other problems with SM sales. I have sold several loan parts today. The loan part shows as sold but there is no money credited to the account. So, the loan part disappears from asset list. No corresponding increase in cash balance......... Paul64 can you confirm you are aware and this is part of the same platform IT problem?? This sort of software issue is extremely worrying. I'm currently stuck in PBL167 with same problem indicated above. There needs to be robust reconciliation processes applied to the software to prevent our money going walkies...
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username
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Post by username on Aug 30, 2017 11:37:27 GMT
The one year extension has been made on DFL003: term changed from -47 to +317, status back to IOA.
Anyone expecting their 0.5% bonus may be disappointed as the bonus went back to zero. The software probably isn't coded to handle this scenario, but they should address it and pay the bonus. After the recent troubles, I'm sure Lendy appreciate the value of their reputation and how this sort of thing is harmful to it.
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username
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Post by username on Aug 25, 2017 9:07:07 GMT
If you were cynical you might think this looks like a 6 month loan but without the need to pay the bonus if it goes over.
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username
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Post by username on Aug 19, 2017 8:12:22 GMT
Christ, 'believe' means 'believe'. Presumably they'd like to be more declarative but can't right now. In the absence of absolute proof, would you prefer 'No change'?
Life isn't black or white, leave some room for nuance.
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username
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Post by username on Aug 11, 2017 15:18:42 GMT
In the past, Lendy used underwriters to take up the slack in larger loans... "To adhere to our regulatory responsibilities in not providing credit to cover shortfalls" implies to me there was no underwriter and they were using company funds. I understand they have history of using company funds to invest/bail out other loans which would also fit the pattern.
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username
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Post by username on Aug 1, 2017 0:08:12 GMT
Hi all, could I please politely ask that questions of this nature are submitted via the support@lendy.co.uk address so they can be monitored and responsed to in an efficient way. Any question submitted via this channel is also logged on our Help system unlike questions raised on the forum. Thanks, Paul Pathetic!!! Rude!!
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username
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Post by username on Jul 25, 2017 16:43:18 GMT
Yep, the first crack in the 'nobody lost any money' wall .. 'nobody lost any capital' is still OK .. and maybe Ly will get lucky with the borrower or the valuers (which would be an event worthy of celebration). Yeah it makes sense to prepare the ground for capital loss by 'losing the interest'. Obviously puts a damper on excitement about bonus periods though. I would have thought they'd like to give a bit of a longer honeymoon, so maybe we're getting close to that first capital loss.
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