|
|
Post by skint4achange on Dec 5, 2017 17:12:08 GMT
A new one in the pipeline
420 days Loan Amount £2,499,859 Loan to value 21% Interest 12%
Security Value £11,825,000 Primary Security First Legal Charge
Start date
05/12/2017
|
|
|
|
Post by stevel on Dec 5, 2017 17:52:21 GMT
If nothing else, that's a great location
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Dec 5, 2017 18:03:01 GMT
After the failure of DFL1&2, I do worry about Lendy's ability to handle these type loans. Also, the borrowers are putting in £300k and lenders will be asked to put in several million. Lenders take on massive risk and the borrower could make massive returns  |
|
|
|
Post by skint4achange on Dec 5, 2017 18:08:45 GMT
We all worry, it's human nature. However, we all know the risks. Weigh them up and put up or......................... Well, we all know the rest! 
|
|
ingwer
Member of DD Central
Posts: 121 
Likes: 47
|
Post by ingwer on Dec 5, 2017 18:40:01 GMT
It seems to be the first genuine new loan from Lendy (apart from extra tranches and DFL030 which was a restructured loan) for several weeks. So maybe Lendy's DD is now taken longer and being taken more seriously. Seems like a safe enough "buy" and then sell in 6 months with 200+ days remaining.
|
|
ingwer
Member of DD Central
Posts: 121
Likes: 47
|
Post by ingwer on Dec 6, 2017 10:05:13 GMT
I would be personally happier if DFL006 was not permanently in negative days and the receipt of promised funds was achieved. I assume there are no Lendy penalties for running it like a temporary overdraft facility. Also if I read the updates correctly, then no work has been done on site for some 6 months.
|
|
keith
Member of DD Central
Posts: 118
Likes: 72
|
Post by keith on Dec 6, 2017 14:06:29 GMT
From the pipeline listing: Fair enough. Should be able to gauge how good a borrower / developer this outfit are by checking out the other loans which are: DFL003, DFL006, DFL013, DFL020 (this one rings a bell) and DFL022 -- about £18M already lent but no horror shows there, it would seem. Again from the listing: Whoa!! I thought DFL020 rang a bell. The text accompanying the second tranche stated: " The second development tranche of £279,213 is now required to release equity in order to assist the borrower with planning costs for another development site." and a penny will get a pound that £220K (£279k less retained interest and costs) form the bulk if not all of that "c £300k".
Still, nothing wrong with making money out of other peoples' money although, if correct, I think out of fairness to DFL020 lenders, the pipeline text should be re-written to state:  Maybe this is innocent enough but I get nervous when there are links between loans at it drives a coach and horses through diversification and, sorry to sound like a stuck record, makes me think of systemic risk. I think I would be in denial also if I did not mention Egyptians and deserts.
|
|
zlb
Member of DD Central
Posts: 1,422
Likes: 333
|
Post by zlb on Dec 11, 2017 20:47:01 GMT
From the pipeline listing: Fair enough. Should be able to gauge how good a borrower / developer this outfit are by checking out the other loans which are: DFL003, DFL006, DFL013, DFL020 (this one rings a bell) and DFL022 -- about £18M already lent but no horror shows there, it would seem. Again from the listing: Whoa!! I thought DFL020 rang a bell. The text accompanying the second tranche stated: " The second development tranche of £279,213 is now required to release equity in order to assist the borrower with planning costs for another development site." and a penny will get a pound that £220K (£279k less retained interest and costs) form the bulk if not all of that "c £300k".
Still, nothing wrong with making money out of other peoples' money although, if correct, I think out of fairness to DFL020 lenders, the pipeline text should be re-written to state: Maybe this is innocent enough but I get nervous when there are links between loans at it drives a coach and horses through diversification and, sorry to sound like a stuck record, makes me think of systemic risk. I think I would be in denial also if I did not mention Egyptians and deserts. To me, understanding the intricacies of whether a company, re diversification, is ring fenced or not, is quite specialist knowledge. I think L should be doing this DD. Would L want a lot of interrelated risk? L have stated interdependent loans before. Is that different to this scenario?
|
|
ding
Member of DD Central
Posts: 238
Likes: 132
|
Post by ding on Dec 20, 2017 10:40:15 GMT
Starts 20/12/17 420 days, 21% GDV
Loan £2,499,859
Housing for Students.
Just noticed all the DFL/PBL with no ID number have a start date of today. I'll update this post when it actually starts.
Sorry for the noise. Long time since I looked at the Lendy pipeline!
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Dec 20, 2017 11:01:42 GMT
Starts 20/12/17 420 days, 21% GDV Loan £2,499,859 Housing for Students. Just noticed all the DFL/PBL with no ID number have a start date of today. I'll update this post when it actually starts. Sorry for the noise. Long time since I looked at the Lendy pipeline! I don't think I've ever looked at that particular 'box' before - 'Particulars/Start Date', but I wonder if it's a system thing as all the current unnumbered pipeline loans are sporting 20/12/2017?
|
|
sirius
Member of DD Central
Posts: 161
Likes: 141
|
Post by sirius on Jan 12, 2018 12:38:31 GMT
Having looked at the costings for this one, it appears yet another VR set up to achieve a wanted result.
The contingency is only 5% and the finance has been calculated at 8%!!
Make that 15% for the former and 20% for the latter, adding a further cost of c.£800k, will reduce the current MV to c.£2,850,000 and the 90 day to c. 2,450,000.
'Real' LTV then c. 88%, or 102% against the 90 days.
|
|
Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
|
Post by Mousey on Jan 26, 2018 14:57:34 GMT
E-mail received ... going live tomorrow
|
|
stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
Likes: 945
|
Post by stub8535 on Jan 26, 2018 15:06:21 GMT
E-mail received ... going live tomorrow Testing their new model will be interesting for a loan released on a Saturday. I note the wording on the pre funding. Interesting use of the word guarantee.
|
|
gustapher
Member of DD Central
Posts: 144
Likes: 267
|
Post by gustapher on Jan 26, 2018 15:17:16 GMT
Lots of good stuff on the SM because of this. I think this is because people are worried about the changes to the prefunding so are selling more heavily than normal. I think quite a few will go for the DFL and when allocations are smaller than expected the SM will dry up just as quick - just a guess though!
|
|
Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
|
Post by Mousey on Jan 26, 2018 15:28:03 GMT
Well at 420 days it does have the potential for being a nice little earner so can see its appeal. I'm certainly keeping an eye on the planning progress
|
|
