rrrupert
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Post by rrrupert on Apr 29, 2018 0:16:06 GMT
Ok. So if it fails to shift in a couple of months, and 1% monthly interest has been paid, does this mean Lendy is out around 100k or would the interest have been paid by the borrower even if the loan never fully drew down?
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tx
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Post by tx on Apr 29, 2018 0:29:50 GMT
Ok. So if it fails to shift in a couple of months, and 1% monthly interest has been paid, does this mean Lendy is out around 100k or would the interest have been paid by the borrower even if the loan never fully drew down? I really don’t know how this works nowadays, Lendy loans used to be fill lightening fast and drawn down in a few days ... now, even if borrower pays a fee, it can’t be as much as 100k (I think) if in the end they never drawn down ... so the more I think the more it feels it really is investors paying themselves interests, but in the end it is just like locking up money somewhere with no return. And this is still given Lendy is around to return the funds ...
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withnell
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Post by withnell on Apr 30, 2018 13:41:21 GMT
Ok. So if it fails to shift in a couple of months, and 1% monthly interest has been paid, does this mean Lendy is out around 100k or would the interest have been paid by the borrower even if the loan never fully drew down? I don't see how the borrower could be expected to pay - if they pull out fail enough, but if Lendy fail to provide the funds then I'd expect all fees paid to be returned
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Post by Companion Cube on Apr 30, 2018 21:12:40 GMT
Ok. So if it fails to shift in a couple of months, and 1% monthly interest has been paid, does this mean Lendy is out around 100k or would the interest have been paid by the borrower even if the loan never fully drew down? I don't see how the borrower could be expected to pay - if they pull out fail enough, but if Lendy fail to provide the funds then I'd expect all fees paid to be returned Aaah, so that's what the PF is for. I knew there had to be a reason.
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Post by freedommmm on May 9, 2018 17:57:49 GMT
This is NOT moving at all. How long is too long? That is, how long can it hang on SM without getting filled, before the borrower or Lendy decide to cancel it?
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hazellend
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Post by hazellend on May 9, 2018 18:39:05 GMT
Wasting £900 a day in interest. Just embarrassing themselves really. Who in their right mind would value a 0.89 acre building plot in cardiff at £10.4m ? The plot is worth nowhere near that. It is the plot + planning permission which give the high valuation. Allow for the usual ill judged overvaluation and the LTV on this one seems quite good to me. Problem is I was going to reinvest DFL004 into this...
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rrrupert
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Post by rrrupert on May 9, 2018 21:48:05 GMT
Part of the issue with this loan is that the same borrower has many other large loans on this platform. There is a diversification issue for lenders. Actually, there is also a risk of over-concentration on a handful of borrowers for Lendy.
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Post by charliebrown on May 9, 2018 23:23:55 GMT
I think there is appetite but not the cash. Lendy need to get cash back to their lenders either by loans repaying or improving SM liquidity with discounting. I was planning to use loan repayments to buy into Cardiff but no repayment forthcoming and my funds are tied up elsewhere after ISA season Not doing too well on repayments and it's hard to see how it is going to improve. I don't think discounting would make any significant difference, the appetite for high risk/return seems to be declining. The appetite for high risk/no return is definitely declining 
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tx
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Post by tx on May 9, 2018 23:29:06 GMT
It is moving at a "blazing" rate of £5,000 per day! Did you put one zero too many?
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Mousey
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Post by Mousey on May 9, 2018 23:45:20 GMT
I remember back to when the SM was empty and loan parts would be up for only a matter of seconds because we were desperate for loans...and now even with 2% cash back...
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cwah
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Post by cwah on May 10, 2018 9:21:29 GMT
How can they put 45% LTV when it's a 100% finance from investors to buy the site and develop?
Just this is a complete non sense!
I would only consider investing if I see the developer has put significant amount of their own money in the game!
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SteveT
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Post by SteveT on May 10, 2018 10:00:32 GMT
How can they put 45% LTV when it's a 100% finance from investors to buy the site and develop? Just this is a complete non sense! I would only consider investing if I see the developer has put significant amount of their own money in the game! See here (further up this same thread)
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MONEY
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Post by MONEY on May 15, 2018 15:57:25 GMT
Target loan value once again reduced - update on site:- 15th May 2018:  21st Apr 2018:  Original - 1st Mar 2018:  |
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SteveT
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Post by SteveT on May 15, 2018 16:34:30 GMT
Good. The security gets better again.
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Steerpike
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Post by Steerpike on May 15, 2018 16:38:50 GMT
If they didn't really need £5.2m and £4m is plenty then why pay 20% (?) interest on £1.2m that you don't need?
Seems odd to me, unless the objective is simply to get as much as possible for the security which doesn't sound like a serious business project.
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