copacetic
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Post by copacetic on Jan 3, 2018 10:39:20 GMT
£150k now available on the secondary market. Am I right in saying that they were £150k short on the amount they need for the loan to be drawndown? If that is the case then I am extremely surprised, it was in the pipeline for a very long time and only a £1.05 million loan is not that much compared to others on the platform. Is this a sign that people aren't investing their funds into Lendy? Only 1159 investors are in this one compared to 2 to 3 thousand in many other loans at the moment but it's not necessarily a sign people aren't investing in Lendy, just this loan. This loan looked all right when it was first introduced in the pipeline IMO but it started to smell a bit when it came out that the purchase price the valuation report was based on wasn't actually a cash price. The outbreak of realism regarding the risks in 2017 plus the less liquid SM probably has people holding onto their money until more solid opportunities come along. That along with January traditionally being a tight month for many people with Christmas credit card bills and self assesment tax payments due. If Lendy were to provide a loan with good genuine low LTV I'm sure they'd still get oversubscribed.
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mary
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Post by mary on Jan 3, 2018 10:43:08 GMT
£150k now available on the secondary market. Am I right in saying that they were £150k short on the amount they need for the loan to be drawndown? If that is the case then I am extremely surprised, it was in the pipeline for a very long time and only a £1.05 million loan is not that much compared to others on the platform. Is this a sign that people aren't investing their funds into Lendy? More likely that's £150k of accidentally pre-funded orders that haven't been paid for. I've not paid for mine yet, and it's not been cancelled, so it seems they may well be short on this one.
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zlb
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Post by zlb on Jan 3, 2018 12:13:29 GMT
More likely that's £150k of accidentally pre-funded orders that haven't been paid for. I've not paid for mine yet, and it's not been cancelled, so it seems they may well be short on this one. Seems like a big chunk for a very rapid change of mind. Now 175k Does anyone know what regs there are to prevent associates of L from investing large amounts and then selling - perhaps to create initial unavailability to raise desirability?
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mary
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Post by mary on Jan 3, 2018 12:35:19 GMT
I've not paid for mine yet, and it's not been cancelled, so it seems they may well be short on this one. Seems like a big chunk for a very rapid change of mind. Now 175k Does anyone know what regs there are to prevent associates of L from investing large amounts and then selling - perhaps to create initial unavailability to raise desirability? Ok, mines now cancelled, so this must all be accidental pre-funds (as mine was) or a big change of mind.
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Post by Harland Kearney on Jan 3, 2018 13:31:57 GMT
That is a large chunk to just be put upto the SM market so quickly. How long can a drawn down process go on for? **EDIT** I just noticed I've been giving a £1,000 loan chunk in this! I didn't pre-fund this investment but kept eyes on updates. I didn't even notice I've contact Lendy immediately to get it cancelled.  I'll be really upset if they deny my request. |
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Post by supernumerary on Jan 3, 2018 14:23:18 GMT
That is a large chunk to just be put upto the SM market so quickly. How long can a drawn down process go on for? **EDIT** I just noticed I've been giving a £1,000 loan chunk in this! I didn't pre-fund this investment but kept eyes on updates. I didn't even notice I've contact Lendy immediately to get it cancelled. I'll be really upset if they deny my request. I recall you liking xpubman1's post when he commented, without specifically naming anybody in particular, that they were 'whining'... 
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zlb
Member of DD Central
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Post by zlb on Jan 3, 2018 14:43:15 GMT
Seems like a big chunk for a very rapid change of mind. Now 175k Does anyone know what regs there are to prevent associates of L from investing large amounts and then selling - perhaps to create initial unavailability to raise desirability? Ok, mines now cancelled, so this must all be accidental pre-funds (as mine was) or a big change of mind. Makes sense. Although I would normally expect to lose interest into a pre-fund that was due funding - is that not happening now?
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Post by Harland Kearney on Jan 3, 2018 14:51:17 GMT
That is a large chunk to just be put upto the SM market so quickly. How long can a drawn down process go on for? **EDIT** I just noticed I've been giving a £1,000 loan chunk in this! I didn't pre-fund this investment but kept eyes on updates. I didn't even notice I've contact Lendy immediately to get it cancelled. I'll be really upset if they deny my request. I recall you liking xpubman1's post when he commented, without specifically naming anybody in particular, that they were 'whining'... That is regarding 18 hour late interest, don't quote me out of context please. New years day interest and unwarranted pre-funding are too very different issues.
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Post by supernumerary on Jan 3, 2018 18:01:55 GMT
I recall you liking xpubman1's post when he commented, without specifically naming anybody in particular, that they were 'whining'... That is regarding 18 hour late interest, don't quote me out of context please. New years day interest and unwarranted pre-funding are too very different issues. Firstly, I haven’t quoted you, I noticed that you liked the post. Secondly, I don’t know which particular comment, or comments, that xpubman1’s ‘whining’ observation was directed to, because he didn’t specify. All xpubman1 was prepared to state was that the ‘whining’ had started in the new year… Thirdly, can you not see the ‘irony’ of the situation?  
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Post by Harland Kearney on Jan 3, 2018 18:21:23 GMT
Just feels a bit uncalled for, but Oki.  Was wondering if anybody else had a loan part put forward for them without any settings to do so. |
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Post by skint4achange on Jan 3, 2018 18:31:59 GMT
That is a large chunk to just be put upto the SM market so quickly. How long can a drawn down process go on for? **EDIT** I just noticed I've been giving a £1,000 loan chunk in this! I didn't pre-fund this investment but kept eyes on updates. I didn't even notice I've contact Lendy immediately to get it cancelled. I'll be really upset if they deny my request. I recall you liking xpubman1's post when he commented, without specifically naming anybody in particular, that they were 'whining'... 
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Post by loftankerman on Jan 3, 2018 19:51:19 GMT
Just feels a bit uncalled for, but Oki. Was wondering if anybody else had a loan part put forward for them without any settings to do so. I haven't bought anything for a while, but in the past I have had the experience of being allocated a loan part that I had not requested. My certainty in the matter lay in the fact that some days previously I had set a pre-funding limit on the loan and shortly after changed my mind and set it to zero. I have only ever pre-funded on the basis of leaving everything set to zero and then choosing the occasional one I really wanted. When the 'about to go live, check your pre-funding' announcement was made, I did check to make sure it was zero and it was. I raised it with support who could only suggest I was wrong. My son, who dabbled briefly with a small amount of money in SS, and could in no way afford to pre-fund anything, was also given an un-requested allocation on a different occasion. I could imagine data processing scenarios that could account for it in my case, but not in my son's. I was not too happy about it, because I was stuck with paying for the unwanted stuff so that I could get something I did not want to miss. Fortunately disposing of it on the SM wasn't much of a problem. With hindsight, hanging onto it would have been much more of a concern later.
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Post by Harland Kearney on Jan 3, 2018 20:03:15 GMT
Just feels a bit uncalled for, but Oki. Was wondering if anybody else had a loan part put forward for them without any settings to do so. I haven't bought anything for a while, but in the past I have had the experience of being allocated a loan part that I had not requested. My certainty in the matter lay in the fact that some days previously I had set a pre-funding limit on the loan and shortly after changed my mind and set it to zero. I have only ever pre-funded on the basis of leaving everything set to zero and then choosing the occasional one I really wanted. When the 'about to go live, check your pre-funding' announcement was made, I did check to make sure it was zero and it was. I raised it with support who could only suggest I was wrong. My son, who dabbled briefly with a small amount of money in SS, and could in no way afford to pre-fund anything, was also given an un-requested allocation on a different occasion. I could imagine data processing scenarios that could account for it in my case, but not in my son's. I was not too happy about it, because I was stuck with paying for the unwanted stuff so that I could get something I did not want to miss. Fortunately disposing of it on the SM wasn't much of a problem. With hindsight, hanging onto it would have been much more of a concern later. I previously had the loan pre-funded with £1,000; once I read developments from this website I backed out of the loan for the many reasons stated thoughout the thread. (thanks again Mr.Forum  )
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zlb
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Post by zlb on Jan 3, 2018 20:58:39 GMT
Given that the programming for calculations seems to have been awry in other areas, could it also be here? When they first introduced pre-fund all, I was caught out by that (small phone) when I thought I was funding just one venture, I later found out I'd funded one I didn't want to. They changed the visual clarity of the option after that.
Worrying if a change of mind isn't recorded. I do nervously check that it hasn't got a mysterious pre-fund, for projects I don't like.
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Post by Harland Kearney on Jan 5, 2018 17:39:39 GMT
Just a update to those that are interested, Lendy did cancel my loan allocation. Yay |
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I'll be really upset if they deny my request.
Was wondering if anybody else had a loan part put forward for them without any settings to do so.
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