SteveT
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Post by SteveT on Jun 4, 2018 12:04:49 GMT
Which begs the question of whether buyers of the remaining £722k still "available" will also receive 2% CB at the end of June? Lendy Support, please can you clarify this somewhere?
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Post by supernumerary on Jun 4, 2018 13:52:38 GMT
Well spotted and ALSO a BIG thank you to the Lendy Support Team. 
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sl75
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Post by sl75 on Jun 4, 2018 16:30:49 GMT
Which begs the question of whether buyers of the remaining £722k still "available" will also receive 2% CB at the end of June? Lendy Support , please can you clarify this somewhere? When they had the first few cashback loans, they removed the "CASH BACK" label at the same time they paid the cashback, making it clear that the loan was no longer eligible for cashback (or merged it into the parent non-cashback loan, which had the same effect). Now they seem to leave the label attached - e.g. PBL198 is still advertising cash back 2 months after it was originally paid, which is either an overly-generous offer (paying another round of cashback to subsequent buyers of loan parts), or highly misleading, and likely to lead to complaints from some of the parties adversely affected... Personally I have no complaint, as I've not bought any loan part after the cash back has been paid on the relevant loan, but the "investor activity" on each of the affected loans shows a long line of investors who may have been persuaded to commit to a purchase by the promise of cashback, and who would seem to me to have a valid complaint if they do not receive it. Anyone for buying a pice of PBL199 and preparing the complaint if they don't get the advertised cash back within the next month? Personally, I think I'll see if another loan appears in the pipeline where the eligibility for cash back is unambiguous.
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rocky1
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Post by rocky1 on Jun 4, 2018 17:03:29 GMT
i think lendy know that this will need cashback right up to the last £1.the situation with this borrower and 6 other DFLs makes it hard to think of throwing more funds in.
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sl75
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Post by sl75 on Jun 4, 2018 17:11:12 GMT
i think lendy know that this will need cashback right up to the last £1.the situation with this borrower and 6 other DFLs makes it hard to think of throwing more funds in. It seems more likely to me that Lendy failed to think through the consequences of their actions in failing to remove the "CASH BACK" label from the loan.
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rocky1
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Post by rocky1 on Jun 4, 2018 18:13:16 GMT
you will get 2% of your own money back and then it belongs to lendy/borrower for the duration.you will get interest for a while out of your own money. the problem seems to be the completion of all off these DFLs when the borrowers decide to take the p**s and lendy then string it out with the old IA/BONUS when in reality we will be lucky to get 100% capital back in probably 3/5 years time.
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Post by df on Jun 4, 2018 19:51:19 GMT
In my memory, this is the first Ly loan that didn't fill in 3 months since the launch. This seems to be the pattern with property (especially larger projects) loans across platforms now, but 3 months beats the record (as far as I'm aware???).
I'm not keen on this loan, but I would have invested something if DFL1,2,4,5 etc. were repaid. I think the only way for Ly to get back on the horse is to get all overdue loans repaid. Easier said than done, but I can't see how else the problem can be resolved.
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elliotn
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Post by elliotn on Jun 5, 2018 10:29:44 GMT
CB was due to whoever the loan holder happened to be at drawdown to be paid at the next interest run.
Did everyone who had their loan part up for sale but who retained onwership during this period receive NO cb?
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tx
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Post by tx on Jun 7, 2018 16:54:18 GMT
This loan is selling fast, about 40k a day, believe thanks to the recent repayment and cash back.
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tx
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Post by tx on Jun 15, 2018 20:28:17 GMT
It sold down 300k in the past two three days! Amazing. Thanks to the multiple repayments I believe.
When the SM moving again, the gloom and doom sentiment drops dramatically in this forum.
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Jeepers
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Post by Jeepers on Jun 15, 2018 20:30:25 GMT
It sold down 300k in the past two three days! Amazing. Thanks to the multiple repayments I believe. When the SM moving again, the gloom and doom sentiment drops dramatically in this forum. Precisely why we need discounting.
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tx
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Post by tx on Jun 15, 2018 20:54:37 GMT
Do you mean like BridgeCrowd that you can choose to offer lower than par to sell?
Something that I also questioned Louis of BC, but never got an answer, why only discount, why not a full blow market price? Both discount and premium? Of course premium is for the hot loans, a loan that offer better Sharpe ratios ... sorry there is no portfolio here, often end up just one of two holdings in my book ...
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Post by supernumerary on Jun 17, 2018 7:52:47 GMT
The FULL repayment of DFL030, has undoubtedly seen a 'marked reduction' in the amount available of PBL199 on the secondary market. Since Friday, the 15th June 2018, in the region of £350,000 approx.  Currently, at just under £150,000 this Sunday morning (17th June 2018), this figure will probably be UNDER £100,000, by the end of the day.  MAYBE closer to £0 availability, but it is getting there. |
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hazellend
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Post by hazellend on Jun 17, 2018 8:56:41 GMT
This is a great loan but do recent investors realise it has drawn down so no cashback?
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Post by Deleted on Jun 17, 2018 10:06:39 GMT
This is a great loan but do recent investors realise it has drawn down so no cashback? official word from Lendy when queried why the cashback remains advertised .... " PBL199, although this has been drawn down it is not yet fully funded. This can be seen by how much is remaining on the loan main sheet.
Any investment made until the loan if fully funded will be eligible for the bonus.
DFL035 is now 100% funded so is not open to new investors at this stage." Seems disingenuous to continue to show cash back when it is no longer available on DFL035/PBL198 but they claim it still is on PBL199, unless it has fully funded since (as I don't think we can know when the original loan finishes and secondary market sales begin)
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