elliotn
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Post by elliotn on Oct 12, 2017 2:17:43 GMT
My last bits in DFL17 were still working their way (slowly) through the queue  - can't make my mind up whether to cancel the sale or just leave it. Don't imagine interest is likely to come into the equation now....... There is still retained interest so it might be worth recouping coupon whilst awaiting any recovery process.
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elliotn
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Post by elliotn on Oct 12, 2017 2:20:45 GMT
DFL17 seems an unusual case in that it had 190 days+ still on the original term and therefore I am asking myself whether interest will still be payable on the basis that the interest for the full term was deducted from the loan upfront and will be held by Lendy? Interesting that this is another sub 12% loan (ie lower risk according to LY) that has gone bad. Taking the car loans on Coll and Birk on MT then the retained interest paid for should still be returned to us during the original term. Edit - crossed with the Dude (I’m reading chronologically!)
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elliotn
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Post by elliotn on Oct 12, 2017 2:23:03 GMT
Looks like PBL084 and its younger more adventurous sibling PBL166 are also suspended. I stayed in 084 comforted by the fact that 166 was a second charge but not so sure that was a wise move now. If you know anyone who is in the market for a property with a very large garden please contact Lendy. I never felt comfortable 084 was that safe a capital store for an esoteric property that the VR admits may take a year or more to get close to “MV”. & not sure how much value 2C added to make 084 any safer although there was some income generating tinkering on the estate such as green energy, shooting etc iirc? Could be drawn out if commercial refi has still not proven feasible. Hopefully lessons learned by Ly about castles and sand.
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garfield
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Post by garfield on Oct 12, 2017 6:36:47 GMT
Has anyone had any e-mails about this latest string of suspect, I mean suspended loans?
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ferdy
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Post by ferdy on Oct 12, 2017 7:14:51 GMT
Has anyone had any e-mails about this latest string of suspect, I mean suspended loans? Nope. Pretty shabby service once again from L.
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garfield
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Post by garfield on Oct 12, 2017 7:21:02 GMT
Hey!! I had an e-mail from Ly: "This is to confirm your withdrawal request for £****.** Your withdrawal request has been received and will be processed as soon as possible." Happy days!  |
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ferdy
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Post by ferdy on Oct 12, 2017 7:37:47 GMT
Hey!! I had an e-mail from Ly: "This is to confirm your withdrawal request for £****.** Your withdrawal request has been received and will be processed as soon as possible." Happy days! Yes I had one too. One to tell me that a loan that I was n't invested in had repaid. But for a loan I am invested in, no email to tell me that it has been suspended! Grrrrr.
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treeman
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Post by treeman on Oct 12, 2017 8:40:26 GMT
My last bits in DFL17 were still working their way (slowly) through the queue - can't make my mind up whether to cancel the sale or just leave it. Don't imagine interest is likely to come into the equation now....... There is still retained interest so it might be worth recouping coupon whilst awaiting any recovery process. Yeah ........ that's the conclusion I came to last night. Listings cancelled. Unlikely to see de-suspension.
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mary
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Post by mary on Oct 12, 2017 11:10:16 GMT
Personally, I am outraged at this new (out of the blue, completely unexplained) category that is Suspension.
We are completely in the dark as to the reasons, which may or may not be due to breach of previously undisclosed conditions placed on the loan.
This has completely removed the last shred of confidence that I had convinced myself to retain.
I see that, in the last bi-weekly loan book update, it was slipped in PLB167 is contractually required to repay 50% of the loan in the next few days. Unless I'm mistaken, nowhere has this previously been disclosed? If the payment is missed, will this loan also be suspended???
If there are loan conditions that are required to be met during the term of the loan, surely lenders have a right to know up front, as they materially affect the risks being assumed?
Confidence - hard to gain, easy to loose!
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moist
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Post by moist on Oct 12, 2017 11:32:48 GMT
Whats this FCA thing? Is it mandatory? I have 4 loans suspended and other in default. I only picked low LTV ones and described as safe but it seems not!!! How much money will I loose? I invested too much in lendy its years and years of savings lost Who knows..somewhere between nothing and everything. It puzzles me that people go into P2P completely blindly.....if you want 12% return, comes with massive risk
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Post by picanto on Oct 12, 2017 12:55:01 GMT
I try and defend Lendy but on this occasion I simply can't. The communication regarding these loans that have been suspended has been appalling. Lendy can't just inform you about good news of loan repayments but forget to mention about the bad news of suspended loans. You shouldn't have to go onto a forum to find out that loans have been suspended from trading, a forum which the majority of Lendy investors probably don't even know about.
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mikes1531
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Post by mikes1531 on Oct 12, 2017 19:43:58 GMT
The amount of IOA loan parts on the SM nearly doubled around 1800 today -- from £0.8M to £1.4M. Does anyone know why? Has one or more of the suspended IOA loans been un-suspended?
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garfield
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Post by garfield on Oct 12, 2017 20:01:24 GMT
That would equate to 120 investors each pulling out £5K...  |
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mikes1531
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Post by mikes1531 on Oct 12, 2017 21:12:45 GMT
The amount of IOA loan parts on the SM nearly doubled around 1800 today -- from £0.8M to £1.4M. Does anyone know why? Has one or more of the suspended IOA loans been un-suspended? That would equate to 120 investors each pulling out £5K... : I don't think I understand your comment. How could the increase in parts for sale be related to investors pulling out? And I note that it didn't happen gradually, it happened in no more than an hour. It's as if there was some bad news posted and lots of parts were dumped on the SM immediately thereafter.
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garfield
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Post by garfield on Oct 12, 2017 21:26:11 GMT
Sorry mikes1531, a poor attempt at twisting things. I appreciate the situation is far from funny. I now find myself in a position where I've either sold up or my remaining loans are either defaulted or suspended. Such is life - I've learned a lot from Lendy! But still smiling. |
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- can't make my mind up whether to cancel the sale or just leave it. Don't imagine interest is likely to come into the equation now.......
