sl75
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Post by sl75 on Mar 21, 2018 8:49:35 GMT
Confused... Important enough to be the first time ever that investors have been required to be given a large pop-up notification titled "Substantial update" that they're expected to acknowledge, but not important enough to suspend trading? In essence "if you're of a nervous disposition, sell now"? [except of course you won't be able to as there's a queue already]
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webwizard
Member of DD Central
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Post by webwizard on Mar 21, 2018 8:55:09 GMT
I think this is a good indicator that Lendy take this seriously and that borrowers cannot delay or omit required information. I for one am glad that Lendy are getting tough with borrowers.
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Post by skint4achange on Mar 21, 2018 9:07:55 GMT
And the queue gets bigger! Wait for 3 minutes, press refresh and hey presto, there's another £15k on the SM! I do wonder sometimes if Ly put out these updates just to increase the SM and decrease the interest run at the end of month!  |
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withnell
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Post by withnell on Mar 21, 2018 9:56:16 GMT
They seem to be missing the bold:
"Please be advised the borrower has failed to comply with one of the terms and conditions of the loan (which you weren't made aware of until now)"
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sl75
Posts: 2,092
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Post by sl75 on Mar 21, 2018 10:11:25 GMT
They seem to be missing the bold: "Please be advised the borrower has failed to comply with one of the terms and conditions of the loan (which you weren't made aware of until now)"We've still not been made aware of the specific condition that's been breached... so I think you mean something like "... (and we're still going to keep the details secret whilst continuing to allow trading in the loan, so we can pocket the interest ourselves when you all assume the worst and panic-sell into a market with no buyers)"
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Post by picanto on Mar 21, 2018 16:55:44 GMT
No point in trying to sell this loan and might as well keep getting paid interest. The sale queue is far too big and I can't see anybody putting money into it now with this latest update. I just have to hope for the best that the breach in the T&C of the loan isn't too severe since Lendy haven't deemed it necessary to suspend trading and also whatever the problem is that it can be rectified quickly.
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nyneil
Member of DD Central
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Post by nyneil on Mar 21, 2018 19:16:08 GMT
No point in trying to sell this loan and might as well keep getting paid interest. The sale queue is far too big and I can't see anybody putting money into it now with this latest update. I just have to hope for the best that the breach in the T&C of the loan isn't too severe since Lendy haven't deemed it necessary to suspend trading and also whatever the problem is that it can be rectified quickly. Over 83k on SM now  I hope this update means that Lendy ARE on top of things, so they can manage the event.
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Post by picanto on Apr 28, 2018 11:49:34 GMT
The latest update sounds more worrying, is this loan heading towards being suspended?
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elliotn
Member of DD Central
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Post by elliotn on Apr 28, 2018 14:46:40 GMT
Sounds more like a technicality on hmrc payment than a loan fundament.
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Post by Lendy Support on May 1, 2018 15:59:23 GMT
Hi all, In line with our collections and recoveries policy, we have been in regular contact with the borrower to ensure their compliance with the loan terms. Further to the recent updates on 27th April 2018 and 20th March 2018, the borrower has now provided us with the requested HMRC repayment information. We are however still awaiting the borrower to send us the copy Head of Terms from a new lender, in satisfaction of another Special Condition of the loan.
As the borrower has already been afforded ample forbearance in relation to their failure to comply with one of the terms of the loan, if we do not receive the copy Heads of Terms by the new deadline of 9.00am on May 8th 2018, and therefore cause a further breach, we will likely issue a formal demand requiring accelerated repayment of all sums due under the loan. Thereafter, we will review the options open to us in relation to recovery of the outstanding sums under the loan, should payment not be received. KR Lendy Support |
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bg
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Post by bg on Aug 15, 2018 16:30:53 GMT
This loan has turned up on AC as loan #803, due to drawdown on Monday....so looks like it should be repaying next week.
There is currently a 0.79% bonus accrual on the loan so may be worth buying - presuming the bonus is paid!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
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Post by ilmoro on Aug 15, 2018 16:43:26 GMT
This loan has turned up on AC as loan #803, due to drawdown on Monday....so looks like it should be repaying next week. There is currently a 0.79% bonus accrual on the loan so may be worth buying - presuming the bonus is paid! what makes you think it's due to drawdown Mon? Been in pipeline for a while. UW info? And it's #802.
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bg
Member of DD Central
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Post by bg on Aug 15, 2018 16:44:55 GMT
This loan has turned up on AC as loan #803, due to drawdown on Monday....so looks like it should be repaying next week. There is currently a 0.79% bonus accrual on the loan so may be worth buying - presuming the bonus is paid! what makes you think it's due to drawdown Mon? Been in pipeline for a while. UW info? Yes, estimated drawdown 20th.
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Post by Badly Drawn Stickman on Aug 15, 2018 20:49:36 GMT
what makes you think it's due to drawdown Mon? Been in pipeline for a while. UW info? Yes, estimated drawdown 20th. Out of curiosity how much are they looking to borrow, I'm guessing somewhat more than the current amount?
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bg
Member of DD Central
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Post by bg on Aug 15, 2018 20:50:50 GMT
Yes, estimated drawdown 20th. Out of curiosity how much are they looking to borrow, I'm guessing somewhat more than the current amount? £1.125m @ 7.5% over 48 months
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