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Post by supernumerary on May 28, 2018 11:52:58 GMT
I noticed last night that this one seems to have drawn down, still with £900k to go from the revised (x2) target. I guess £3.1m was enough. Will be interesting to see whether or not the suggested 2nd charge pops up in due course. Well spotted on the draw down. Lendy update 11/05/2018: "Insufficient funds have been raised through the Lendy platform to complete the purchase of the site, so the borrower has arranged another source of finance to cover the funding shortfall. The purchase is still expected to complete, with Lendy to have a first legal charge over the property, and the providers of the loan, to make up the balance of purchase consideration, are to have a second legal charge, ranking behind Lendy." This will reduce the LTV further on this loan for Lendy lenders, so with the 2% cash back as well, good news all round. 
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mh
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Post by mh on May 29, 2018 13:46:44 GMT
Agree, it looks like good news.
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tx
Member of DD Central
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Post by tx on May 30, 2018 22:46:53 GMT
I wonder if cash back would still be paid for those loan parts up for sale.
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empirica
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Post by empirica on May 30, 2018 22:53:41 GMT
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tx
Member of DD Central
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Post by tx on May 31, 2018 7:24:56 GMT
I wonder if cash back would still be paid for those loan parts up for sale. With £850k unfunded in the queue, you've no chance of selling and may as well have the interest. With loan now drawn down and remaining days updated, it suggests the 850k is more likely be sales queue rather than unfunded.
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hazellend
Member of DD Central
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Post by hazellend on May 31, 2018 7:33:17 GMT
It is the unfounded amount rather than sales queue
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Post by supernumerary on May 31, 2018 11:18:08 GMT
On the available loans page for the WHOLE Lendy loan site, £130,422 is available in PBL199.
On the individual PBL199 loan page, £850,556 is available.
It is a mystery to me! 
Top line in the picture is a cropped 'snapshot' of the available loans page for the WHOLE Lendy loan site, with £130,422 available in PBL199. Bottom is the cropped 'snapshot' of individual PBL199 loan page, with £850,556 available.
An intriguing discrepancy... 
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Post by supernumerary on May 31, 2018 11:42:26 GMT
An intriguing discrepancy... The intriguing mystery disappears by 'magic'... Could it be, that Lendy are closely monitoring the posts on here? Or are Lendy pressing all sorts of buttons at Lendy Towers, in time for tomorrows 'interest rate run'? 
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Post by picanto on May 31, 2018 11:59:37 GMT
On the available loans page for the WHOLE Lendy loan site, £130,422 is available in PBL199.
On the individual PBL199 loan page, £850,556 is available.
It is a mystery to me!
Top line in the picture is a cropped 'snapshot' of the available loans page for the WHOLE Lendy loan site, with £130,422 available in PBL199. Bottom is the cropped 'snapshot' of individual PBL199 loan page, with £850,556 available.
An intriguing discrepancy...
The available loans for me says £845,556 and matches with the individual loan page. I don't understand why it's different for you?
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bloodycat
Member of DD Central
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Post by bloodycat on May 31, 2018 13:15:59 GMT
The available loans for me says £845,556 and matches with the individual loan page. I don't understand why it's different for you? Browser caching pages would be my guess.
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Post by supernumerary on Jun 1, 2018 7:11:36 GMT
The available loans for me says £845,556 and matches with the individual loan page. I don't understand why it's different for you? For a short while, perhaps 10 - 15 minutes, there was a discrepancy on the Lendy platform. You obviously looked and posted after the correction was made. I don't understand why you were not able to comprehend the information?
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tx
Member of DD Central
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Post by tx on Jun 1, 2018 17:48:34 GMT
Loan is drawn down, why is cash back not paid?
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Post by supernumerary on Jun 1, 2018 18:47:39 GMT
Loan is drawn down, why is cash back not paid? I don't know, perhaps it will be paid before midnight?  Just reading the terms of the cashback; As part of this offer, lenders who fund tranches of a qualifying development loan will receive cash back worth 1/12th of the annual interest earned, (i.e. equivalent to one extra month’s interest per annum), payable as a one off at the same time as their monthly interest payment.Except it should be 'double bubble' of 2%, payable as a one off. I am sure Jester will be on the case, with any almighty 'rocket' if the cash back is not paid in a timely manner... supernumerary indeed, I like to think it's a more effective way of being heard than the prolific ranter approach, it's clear to see not everyone shares my mentality ....
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Post by supernumerary on Jun 4, 2018 6:46:54 GMT
Lendy (L) Communications Dear all, You may have read that we are looking to trial a new podcast over the summer. The aim of them is to answer any questions you have about our model and our activities. The first one is planned for later in May, so if you have any questions for the management team, please submit them by Friday 11th May 2018. Please email them to asklendy@lendy.co.uk Many thanks Paul64 Lendy (L) Slow deposits Hi withnell @paul64 We are currently investigating an issue caused by an update made by our banking partner to their systems. We are confident that we're close to a resolution and will keep everyone updated both here and on the platform. Regards, Lendy Support Lendy (L) PBL120 - S** Building, Newcastle-U-Lyme - DEFAULT RECOVERED Dear all, further to the previous update on PBL120 yesterday, we have identified a banking error that has resulted in some investors receiving an interest underpayment. Whilst the amount is small relative to the total payment, we take this issue extremely seriously, and as a result have taken immediate action to correct the error. We have therefore made a further interest payment to the affected investors. We’d like to apologise for any inconvenience caused. Regards The Lendy Team Good Morning to the Lendy Support Team, I appreciate that you are all busy on other matters and quote your most recent postings, to acknowledge the work that you are doing. PLEASE would it be possible for somebody on your team to update ALL those who have helped provide the funding for PBL199 loan. As the loan has now been drawn down and you have gone on record as stating that another investor has provided additional funding to get the loan across the line, so to speak, I for one was hoping that we would be paid the **2% CASH BACK OFF** (to reward lenders who fund selected qualifying loans) on the 1st June 2018, when the May interest was paid. UNFORTUNATELY this hasn’t happened…  PLEASE would you tell us when **2% CASH BACK OFF** (to reward lenders who fund selected qualifying loans) will be paid? Will it now be paid on the 1st July 2018? Or the 1st August 2018? Or much, much later than these two dates? |
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awk
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Post by awk on Jun 4, 2018 12:02:05 GMT
CB just paid
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