orvilorvil
Member of DD Central
Posts: 67 
Likes: 60
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Post by orvilorvil on Nov 15, 2017 20:37:31 GMT
I Haven't totally exited quite yet due to be stuck in a couple of loans, but I have reduced my modest holding significantly since late August when it seemed there were a few loans going the wrong way. I've lost confidence in their ability to bring good loans on to the platform. With all the recently suspended loans, it doesn't seem like they're playing a straight bat when giving us updates.
I'll keep an eye on the next few months and possible increase my holding again.
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1stwaz
Member of DD Central
Posts: 57
Likes: 29
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Post by 1stwaz on Nov 15, 2017 21:20:24 GMT
I have only two real concerns. The lack of information from Lendy and the way the rules that govern loans keep changing every few months, if the reason is to comply with the FCA rules to allow for IFISA great but I would prefer a big bang moment. At least then I would know where I stood and could adapt. The recent way that DFL 4 tranche 11 has been handled with an extension without a update that interest has been paid in advance. How the situation is different to Cardiff, I do not understand, please enlighten my ignorance. It would help my feelings that I need to reduce my loans over the next few months.
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Post by p2plender on Nov 16, 2017 1:53:33 GMT
Interest rates finally moving North.
Top end property (espec London) tailing off/now falling.
A great deal of the loan book in default/suspended.
Huge tranches of DFLs still to come.
Communication not great - apart from Youtube promo vids.
Nope, nothing to fear here, all absolutely hunky dory, sweet as, no worries, cushty.
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1stwaz
Member of DD Central
Posts: 57
Likes: 29
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Post by 1stwaz on Nov 16, 2017 5:18:16 GMT
Interest rates finally moving North. Top end property (espec London) tailing off/now falling. A great deal of the loan book in default/suspended. Huge tranches of DFLs still to come. Communication not great - apart from Youtube promo vids. Nope, nothing to fear here, all absolutely hunky dory, sweet as, no worries, cushty. Once Wolverhampton pays back there will be a lot of money looking for a new home. But for confidence we need a DFL to be redeemed before any new projects are in the pipeline.
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Post by p2plender on Nov 16, 2017 7:40:32 GMT
And that new home might not be Lendy..
Won't be Lendy for me if/when I get Wolves money back.
The only time I'll re-splurge into Lendy will be a return of a liquid SM and that's a long way off, and even then we have the issue of sudden suspensions to contend with.
Hmmm.
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garfield
Member of DD Central
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Likes: 268
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Post by garfield on Nov 16, 2017 8:22:32 GMT
I've sold everything I can. If I'd held onto certain loans, I would have even more suspended, so I'm pleased I sold them. The only one I could sell now is DFL004 (long queue). I'm down to 25% of my maximum holding. But everyone's circumstances are different and you must do what is right for you.
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Post by p2plender on Nov 16, 2017 8:49:13 GMT
Good advice.
I was hoping to get another 12 months out of the Lendy good times but once INPL went, the game was up.
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hazellend
Member of DD Central
Posts: 2,363
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Post by hazellend on Nov 16, 2017 9:05:46 GMT
Lendy have certainly managed to piss off a lot of their customers, mainly due to poor communication.
However, they appear to be highly profitable so I think they will be okay.
Personally, there is no way I would currently exit as I am happy with my loan portfolio (I’ve been lucky) and will buy into further desirable loans.
I’m in col, mt, abl also so don’t want to reduce my diversification further
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Post by sirkillalot on Nov 16, 2017 14:19:05 GMT
Lke many others my confidence in the Lendy loans (and the ongoing platform changes) have resulting in me cutting my Lendy exposure (down 50% from its peak). It feels like a hold/sell position at best (but maybe not quite as bad as FS).
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Nov 16, 2017 14:21:31 GMT
Lke many others my confidence in the Lendy loans (and the ongoing platform changes) have resulting in me cutting my Lendy exposure (down 50% from its peak). It feels like a hold/sell position at best (but maybe not quite as bad as FS). 
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Post by explorep2p on Nov 16, 2017 14:34:13 GMT
What is noticeable is that Lendy's lending volumes have fallen significantly in the last 90 days (the run rate is down more than 40% compared to earlier in the year)....
Lendy originated over £180 million in 2016, it has only done ~£102 million YTD in 2017.
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Post by sirkillalot on Nov 16, 2017 14:39:51 GMT
And a significant amount of that is additional funding of current DFL
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greeb
Member of DD Central
Posts: 56
Likes: 55
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Post by greeb on Nov 16, 2017 17:40:02 GMT
I have significantly reduced my exposure to Lendy and am almost out. Th e danger is in falling in love with platform like falling in love with a stock that has done well for you. 12 months ago I was piling money in and couldn't believe how easy it was to make 12% and sell instantaneously on SM. Things have just been on downward slide since then and I have had to reluctantly face the facts that the default/ overdue/suspended situation is so completely different from back then. Another major red flag for me is the late accounts. I really hope Lendy can hold it together and there are some good loans on here that are near impossible to buy in SM but for me it is not worth the risk when there are other options available. Could have easily made 20% investing in bitcoin this week...
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Post by wightknight on Nov 17, 2017 12:02:38 GMT
Thanks for all the opinions/strategies. I'm still undecided on my actions, I'll take some in the next week to go through my loan book again and see if anything else can be offloaded. Most of what I have kept are to be repaid in 1-5 months so for most its a decision on what will be quicker - waiting for the sale queue or risking that the loan will be repaid in a timely fashion or at all.
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zlb
Member of DD Central
Posts: 1,422
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Post by zlb on Nov 21, 2017 22:36:56 GMT
I'm waiting on what happens (no choice actually). If they stay with only large development projects it appears to me that there is more room for error - DD not picking everything up that could go wrong - lots more parties/personalities involved etc. Doesn't it diversify their offer if they have smaller loans as well as the currently large loans with many tranches? Or do people prefer their move into big building business - which they seem to want to move into based on their news/chat on home building in the UK.
Can they move into being mainstream property development financiers?
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