barth
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Post by barth on Sept 26, 2017 13:51:25 GMT
Given that a number of loans are in default and thus can't be sold even for a discount on the secondary market, is there any ways for me to divest and close my account at Lendy ?
Thank you
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Post by portlandbill on Sept 26, 2017 15:02:51 GMT
In a word - no
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GeorgeT
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Post by GeorgeT on Sept 26, 2017 15:19:13 GMT
Given that a number of loans are in default and thus can't be sold even for a discount on the secondary market, is there any ways for me to divest and close my account at Lendy ? Thank you All you can do is list all your loan parts for sale (splitting the bigger chunks up into smaller chunks), then sit back and wait. Depending on the quality of your personal portfolio of loans, you may sell out quite fast on some and on others find you can't sell at all. Probably you will be able to sell some and greatly reduce,but will have a few sticky loans you will be left in. Good luck.
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elliotn
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Post by elliotn on Sept 26, 2017 15:45:02 GMT
Try their support.
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blata
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Post by blata on Sept 27, 2017 7:52:03 GMT
Just started to remove all funds from Lendy , they have extended themselves to far.
Joke valuations, joke reports
Run by incompetents, have always spoken up for them but now wouldn't trust them with my worst enemies money.
As in all things this is are my own thoughts and others might think differently
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hazellend
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Post by hazellend on Sept 27, 2017 7:56:49 GMT
Given that a number of loans are in default and thus can't be sold even for a discount on the secondary market, is there any ways for me to divest and close my account at Lendy ? Thank you Unfortunately not possible, because you can't sell at a discount. ABLrate is the only platform where you can divest whenever you want if you need your money in an emergency. Okay not guaranteed. I can't see non discounting SMs remaining, surely even the most die hard advocates of fixed pricing must be starting to see the problem.
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Liz
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Post by Liz on Sept 27, 2017 11:53:59 GMT
Just started to remove all funds from Lendy , they have extended themselves to far. Joke valuations, joke reports Run by incompetents, have always spoken up for them but now wouldn't trust them with my worst enemies money. As in all things this is are my own thoughts and others might think differently Don't blame you! The £25m in defaults and rising, could lead to £10m+ of losses. PF could be depleted and then we could get some big losses. Not to mention the "good" loans that have yet to go "bad"
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chunkie
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Post by chunkie on Sept 27, 2017 12:15:38 GMT
I'm happy to say I got out shortly after "defaults" hit 12% (except for GBP200 in the 3-4million home in Surrey). I'm also winding down my FS holdings. Any suggestions where to park my money? I'd be happy with 10%.
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Post by GSV3MIaC on Sept 27, 2017 12:29:37 GMT
/mod hat off
If I'm looking at it correctly, we now have more than half (by number) of the loans in 'non performing' (IA, DEF or 'Sus' status). The %age by loan value is rather smaller (only 1/4 so far) but that's because the huge DFLs are still 'in progress'. While I do expect some PBLs and DFLs to overrun/extend, 'half' (with apparently no way to service accruing interest) does seem somewhat extreme.
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twoheads
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Post by twoheads on Sept 27, 2017 13:57:14 GMT
If I'm looking at it correctly, we now have more than half (by number) of the loans in 'non performing' (IA, DEF or 'Sus' status). I presume you mean SUSpect?
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mikes1531
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Post by mikes1531 on Sept 27, 2017 18:20:04 GMT
That doesn't include the £9M of loans DFL001 and DFL002. I really don't see how Lendy can avoid reclassifying these as DEF loans now that they have engaged LPA receivers.
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