gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Jan 12, 2018 22:19:37 GMT
Quote from today:
LendInvest has issued a formal demand that is set to expire on the XXth of XXXXXX. If the borrower fails to repay the loan in full on or before the expiry of the formal demand, LendInvest will then look to appoint an LPA receiver to proceed with the recovery process. If the recovery process begins, this investment will move to the In Enforcement status and interest will accrue for the duration of the recovery process.
Not looking good for this loan, might be the first one to default for me.
Shame, as it is one of only two loans i have left with them.
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sarahcount
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Post by sarahcount on May 1, 2018 19:43:52 GMT
Quote from today: LendInvest has issued a formal demand that is set to expire on the XXth of XXXXXX. If the borrower fails to repay the loan in full on or before the expiry of the formal demand, LendInvest will then look to appoint an LPA receiver to proceed with the recovery process. If the recovery process begins, this investment will move to the In Enforcement status and interest will accrue for the duration of the recovery process. Not looking good for this loan, might be the first one to default for me. Shame, as it is one of only two loans i have left with them. Now repaid in full. Very pleased as that was my largest remaining loan on LI. To think that this was my largest platform at one time. I've been pulling out for some time as loans repay due to the less than exciting rates. Mind you I've been getting more than my share of excitement over at Collateral so maybe slow and steady has its merits.
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cobi
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Post by cobi on May 1, 2018 19:53:13 GMT
I am enjoying their slow and steady approach. Let's hope this board doesn't become as fervent as others.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 255
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Post by gibmike on May 1, 2018 20:25:09 GMT
In the words of Duncan Bannatyne, "I'm out!"
This draws to an end my involvement with them, loved them at the beginning too. Such a shame I am "banned".
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phil
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Post by phil on May 2, 2018 17:02:47 GMT
In the words of Duncan Bannatyne, "I'm out!" This draws to an end my involvement with them, loved them at the beginning too. Such a shame I am "banned". Me too, I was in at the beginning with them, back then they regularly had tranche A going to around 50% LTV and tranche B set at around 65-70%. I had 250k at my peak with them at an average 7% return on mainly tranche A 50% LTV loans. They then decided to more or less do away with tranche A and B and do single tranche loans of 65-70% LTV at around 5.5-7% so that was me out. To their credit though all my loans performed well, I'd still be with them now if they'd continued tranche A model. Mike, why or from where were you "banned"?
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 255
Likes: 159
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Post by gibmike on May 2, 2018 18:05:24 GMT
phil I currently live in Gibraltar. Most people think it is a tax-dodging home from home with red telephone booths and monkeys. Those people have never had to deal with the FSC over here. Regulated as much if not more than the UK. Still, the weather is nice.
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Post by penguin on May 2, 2018 19:07:06 GMT
In the words of Duncan Bannatyne, "I'm out!" This draws to an end my involvement with them, loved them at the beginning too. Such a shame I am "banned". Me too, I was in at the beginning with them, back then they regularly had tranche A going to around 50% LTV and tranche B set at around 65-70%. I had 250k at my peak with them at an average 7% return on mainly tranche A 50% LTV loans. They then decided to more or less do away with tranche A and B and do single tranche loans of 65-70% LTV at around 5.5-7% so that was me out. To their credit though all my loans performed well, I'd still be with them now if they'd continued tranche A model. Mike, why or from where were you "banned"? Agreed - I love an A and B and regret their passing. Would be interested to know where you are finding opportunities these days?
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phil
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Post by phil on May 3, 2018 17:59:29 GMT
Me too, I was in at the beginning with them, back then they regularly had tranche A going to around 50% LTV and tranche B set at around 65-70%. I had 250k at my peak with them at an average 7% return on mainly tranche A 50% LTV loans. They then decided to more or less do away with tranche A and B and do single tranche loans of 65-70% LTV at around 5.5-7% so that was me out. To their credit though all my loans performed well, I'd still be with them now if they'd continued tranche A model. Mike, why or from where were you "banned"? Agreed - I love an A and B and regret their passing. Would be interested to know where you are finding opportunities these days? Mainly Bridgecrowd these days, for example they currently have a 36% LTV first charge at 9%, seems a reasonable investment to me even if they don't vet their borrowers to the same extent as Lendinvest.
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bababill
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Post by bababill on May 5, 2018 4:00:24 GMT
You right about BC, they even say they will consider dodgy borrowers with a shady history as long as the security is sound.
I was with LendInvest from the days when their minimum was 10k per loan. Now they want me to self-certify I refuse and am just waiting for my one last late loan to pay then I am out. Repayment date was 7th January 2018.
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pom
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Post by pom on May 5, 2018 7:49:13 GMT
You right about BC, they even say they will consider dodgy borrowers with a shady history as long as the security is sound. In fairness tho, unlike other platforms offering similar rates they've had a very good record (so far) of making the security work out...
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Monetus
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Post by Monetus on May 5, 2018 8:02:53 GMT
You right about BC, they even say they will consider dodgy borrowers with a shady history as long as the security is sound. In fairness tho, unlike other platforms offering similar rates they've had a very good record (so far) of making the security work out... I think a large part of this is to do with the quality of the valuations and also the fact that their loans are mostly residential bridging which are generally lower risk than huge developments etc.
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jsmill
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Post by jsmill on May 15, 2018 8:18:20 GMT
I still have a bit with Lendy (although not as much as I once did due to the rates). As Pom said they do have a good record of meeting interest commitments and paying back capital within a reasonable time frame. That said I have a couple of loans which look likely to go to enforcement (M***water & T*dor) which will be a first for me so will need to see how these are handled.
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jsmill
Member of DD Central
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Post by jsmill on May 15, 2018 8:19:57 GMT
I still have a bit with Lendy (although not as much as I once did due to the rates). As Pom said they do have a good record of meeting interest commitments and paying back capital within a reasonable time frame. That said I have a couple of loans which look likely to go to enforcement (M***water & T*dor) which will be a first for me so will need to see how these are handled. Sorry, should of course have said "still have a bit with Lendinvest". I am almost out of Lendy apart from a couple of real stinking loans which aren't going anywhere fast!
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