elliotn
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Post by elliotn on Dec 18, 2017 13:35:55 GMT
Admin Notes to be added to the Notifications.
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elliotn
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Post by elliotn on Dec 18, 2017 13:34:24 GMT
Repayment not made. They do not have the cash - yet. See admin note. Thanks blender.
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elliotn
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Post by elliotn on Dec 18, 2017 11:56:24 GMT
Thanks for this opportunity. MoneyThing / SophieThing , please upload financials confirming the interest cover and confirm the purchase price, thanks.
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elliotn
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Post by elliotn on Dec 18, 2017 4:39:39 GMT
Latest borrower accounts to be uploaded to Docs (and preferably up to date management accounts given the accounts are up to 9m old).
In particular, I'd like to see the going concern note for MTF due by the end of this month.
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elliotn
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Post by elliotn on Dec 18, 2017 2:37:38 GMT
Well, nobody has lost any money so every Lendy investor is in profit and a total of over £33 million has been paid out in interest. I think that is excellent news! Even ignoring interest, not every loan has returned full capital so there is a shortfall (dependent on Ly's recovery of other guarantees).
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elliotn
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Post by elliotn on Dec 17, 2017 10:32:20 GMT
We all know MT are super-fast at processing deposits weekdays but do they process as fast (or at all ...) on Saturdays ? Did a deposit half hour ago hoping to get a bit of the loan available and still not processed? Pah, even Sun morns (with twins!), ty moneything!
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elliotn
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Post by elliotn on Dec 17, 2017 9:54:08 GMT
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elliotn
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Post by elliotn on Dec 17, 2017 9:51:00 GMT
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elliotn
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Post by elliotn on Dec 17, 2017 9:44:49 GMT
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elliotn
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Post by elliotn on Dec 17, 2017 9:41:35 GMT
Are we missing a couple of valuation reports on this one looking at the updates? One from april and one just recently? Hi MoneyThing / SophieThing , what did the updated VR say? (18/10)
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elliotn
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Post by elliotn on Dec 17, 2017 5:42:51 GMT
Your Christmas jumper day published online.
Failing that, and to supplement your borrower servicing model, inclusion of financials to show interest cover (very useful for the ‘non-asset’ loan and updated with management accounts for longer term loans) and of course the up to date borrower’s payment history.
Thanks!
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elliotn
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Post by elliotn on Dec 17, 2017 5:34:17 GMT
I would be interested in this and also an option to automatically reinvestment interest/capital repayments. Manually reinvesting is painful at the moment at the small interest level I currently get especially when trying to reinvest it on the secondary market. It feels a smidge embarrassing at some of the low levels of repayment I get - do you hold off reinvesting until you have built up a decent sum or reinvest as soon as you receive a payment and feel a pang of embarrassment at your measly £5-10 offering? Don't be embarrassed at all, I've done less. At the end of the day the buyer doesn't know you, you don't know them and their objective is to sell - all you are doing is helping them to achieve what they want. That said it’s great for the rec if a BH swoops in one go!
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elliotn
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Post by elliotn on Dec 16, 2017 12:16:05 GMT
One factor that I don't think has been mentioned is that other than MT (and F&P the introducer), there has been another set of eyes on this proposal, namely the existing debenture holder who has agreed to subordinate their position behind our quite substantial loan. They wouldn't have agreed to this unless they were comfortable with the implied risks in so doing. As MT commented in the FAQ it has been the time taken to reach this agreement on the deed of priority which has delayed the launch of the loan, indicative that careful consideration by the existing debenture holder has been given. Are we allowed to name other lenders? They used this company as an example of the benefits of short term bridging funding. Their acceptance, approaching a year hence, to MTs priority presumably speaks to their confidence in the government receivable. (A note from the Treasury's side would have done wonders). Interested to know where the current owners have squirelled away the freehold, not showing up under the owners' appointments (as MR suggested)?
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elliotn
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Post by elliotn on Dec 16, 2017 4:01:28 GMT
Any news of the surveyor's updates Collateral Rep ? From a personal perspective, the lack of updates (or even pictures) is not conducive to investing in the new loans. Well done to @gwite for including the Surveyors Report in the latest development tranches. Please roll out for all DLs ie Bolton (photos already excellent). Straight to the top of the class (with AC).
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elliotn
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Post by elliotn on Dec 16, 2017 3:57:57 GMT
The market leaders will now be up to 3 days ahead of Ly (if the last day of the month is a Fri).
Incomparable.
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