registerme
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Post by registerme on Sept 13, 2017 11:51:28 GMT
I pulled my minor residual holding after the first month when it was clear it wasnt going to go anywhere fast and I might as well cross my fingers for a good result and earn interest rather than cross my fingers that there were 120k worth of investors with more confidence in the loan than me. That's precisely how I looked at it (and look at the rest of my residual Lendy portfolio).
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twoheads
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Programming
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Post by twoheads on Sept 13, 2017 12:03:37 GMT
I think you are right. There is no mention by Ly of a further loan and £40k would not go anywhere on that development anyway. So they have just bumped themselves up the queue. Same impact for me, though. Similar complaint from spyrogyra here. I came to the same conclusion as you and ilmoro .
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oldgrumpy
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Post by oldgrumpy on Sept 13, 2017 12:16:38 GMT
Sharp practice to impose this on existing loan parts for sale, some for months, at 1% a month lost interest, eh Paul64 ? What's your spin on it? Yes, it was announced, but what good was that to people already waiting months to sell loan parts? Nasty.  For the record, I have no parts for sale. |
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twoheads
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Post by twoheads on Sept 13, 2017 12:24:39 GMT
For the record, I have no parts for sale. I think many are aiming towards a situation where the last two words above become superfluous.
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seeingred
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Post by seeingred on Sept 13, 2017 12:34:48 GMT
The last straw for me was what happened a few days ago with DFL01. My loan parts have been 4 months in the queue - that is 4 per cent lost already - and I was just £150 from the front. Another week or so and my loan parts would have been sold. Then Lendy grant another loan to the borrower, not even a tranche previously listed, and I am £40k from the front now. The 40k would not have been a new loan tranche? Most likely openly put onto the SM rather than being hidden away in a drawer as the residue from a previous tranche, the openness being required to comply with ongoing FCA changes? Annoying for you though - it could have been put on behind existing loan parts, but that wouldn't comply with their latest SM procedures? In effect you've been caught by transition arrangements? Crossed with others above but same sentiments.
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oldgrumpy
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Post by oldgrumpy on Sept 13, 2017 12:39:25 GMT
This is Lendy's NEW LENDING EXPERIENCE.   |
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Post by chielamangus on Sept 13, 2017 13:23:32 GMT
The last straw for me was ... The 40k would not have been a new loan tranche? Most likely openly put onto the SM rather than being hidden away in a drawer as the residue from a previous tranche, the openness being required to comply with ongoing FCA changes? Annoying for you though - it could have been put on behind existing loan parts, but that wouldn't comply with their latest SM procedures? In effect you've been caught by transition arrangements? Crossed with others above but same sentiments. Some openness! Who knew or was told there was £40k waiting somewhere to be shoved to the top of the queue?
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Post by portlandbill on Sept 13, 2017 15:23:22 GMT
One wonders why £386k of 12%, 53%GDV with 115 days to run isn't being snapped up
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IFISAcava
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Post by IFISAcava on Sept 13, 2017 16:23:07 GMT
One wonders why £386k of 12%, 53%GDV with 115 days to run isn't being snapped up The (circular) answer is because there is £386k waiting to be snapped up
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warn
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Curmudgeon
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Post by warn on Sept 13, 2017 22:14:15 GMT
...I've gone from miffed with the usual dismain Lendy have for their investors to very miffed... Lovely portmanteau of "dismaying disdain". Now in my Commonplace Book. 
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spyrogyra
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Post by spyrogyra on Sept 14, 2017 16:04:47 GMT
Anyway, this £40k will be behind the new upcoming tranche of £188k which, I bet, won't get filled again. Or the new tranche will be at the back of the queue behind the £40k.
So, Lendy
- how many of us did you upset with this £40k jump? (answer : quite a few)
- how much of it did you sell or how long will this £40k be stuck behind the new tranche? (answer : apprx. 9k so far)
- And finally, was it wise to do what you did?
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