pence
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Post by pence on Sept 24, 2018 17:37:09 GMT
There has been a single investment of £162,000.00 today against the second charge loan. Lendy Wealth perhaps??? Seems a bit improbable that it would be an informed investor, yet a bit over enthusiastic for a newbie dipping a toe in the water. Yes I completely don't understand why any investor would choose PBL201 over PBL199 which has £63,000 available at the moment.
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GeorgeT
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Post by GeorgeT on Sept 24, 2018 22:12:32 GMT
There has been a single investment of £162,000.00 today against the second charge loan. Lendy Wealth perhaps??? I was just commenting on another loan where there has been a £166k investment today. Must be the same investor or LW.
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sj
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Post by sj on Sept 24, 2018 23:24:58 GMT
There have been multiple large investments made today on various loans. Lendy Wealth at work here for sure, unless a millionaire has lost his marbles and decided to have a flutter...
NOW, the big question is - how will Lendy Wealth lenders get their money back when they decide to withdraw it? Will Lendy be using new funds deposited in Lendy Wealth to pay back those wanting to withdraw (assuming there's a steady influx of new money)? Will they queue-jump the Lendy Wealth money to the front of the selling queue (nobody buys the cr@ppy loans in any meaningful quantities anyway though)? What would happen if too many want to withdraw at once - will Lendy just say "sorry lads/ladies, T&Cs say that we don't have to give you your money within the stated time scale"? That seems to be a bit of a flaw in the Lendy Wealth model, its obvious to those of us who already use Lendy but maybe not to those whose first experience with Lendy would be Lendy Wealth. I suppose that it is a good thing for the individual lenders that have parts in the sales queues, at least they are getting a clean exit before the loans have potential to turn sour further down the track (i'm not saying that they definitely would... but they're not exactly great on the whole are they?)
And if we type "Lendy Wealth" enough times, does that bump this forum up the Google search rankings and make it more visible to would-be investors that are doing a bit of research before parting with their hard-earned?
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Post by df on Sept 25, 2018 0:02:22 GMT
There has been a single investment of £162,000.00 today against the second charge loan. Lendy Wealth perhaps??? Could be, but I recall some occasional 200k purchases on SM in the past.
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Post by loftankerman on Sept 25, 2018 7:05:00 GMT
There have been multiple large investments made today on various loans. Lendy Wealth at work here for sure, unless a millionaire has lost his marbles and decided to have a flutter...
NOW, the big question is - how will Lendy Wealth lenders get their money back when they decide to withdraw it? Will Lendy be using new funds deposited in Lendy Wealth to pay back those wanting to withdraw (assuming there's a steady influx of new money)? Will they queue-jump the Lendy Wealth money to the front of the selling queue (nobody buys the cr@ppy loans in any meaningful quantities anyway though)? What would happen if too many want to withdraw at once - will Lendy just say "sorry lads/ladies, T&Cs say that we don't have to give you your money within the stated time scale"? That seems to be a bit of a flaw in the Lendy Wealth model, its obvious to those of us who already use Lendy but maybe not to those whose first experience with Lendy would be Lendy Wealth. I suppose that it is a good thing for the individual lenders that have parts in the sales queues, at least they are getting a clean exit before the loans have potential to turn sour further down the track (i'm not saying that they definitely would... but they're not exactly great on the whole are they?)
And if we type "Lendy Wealth" enough times, does that bump this forum up the Google search rankings and make it more visible to would-be investors that are doing a bit of research before parting with their hard-earned?
Well, new money coming in, being used to fund the old money and alleged 'great returns' going out was the business model that brought Equitable Life customers in in droves. However, EL had tripped themselves up with slack wording in T&C resulting in unachievable promises. The enquiries labelled it a Ponzi scheme. Interestingly, my spell checker thinks I got Ponzi wrong and wants to change it to Poison.
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jonbvn
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Post by jonbvn on Sept 26, 2018 3:35:58 GMT
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Post by spareapennyor2 on Sept 26, 2018 7:10:27 GMT
check companies house
block c
on collateral and lendy
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Post by mrclondon on Oct 1, 2018 12:25:09 GMT
check companies house block c on collateral and lendy Wrong thread ! (You are referring to the Huddersfield Loan(s) - Block C has been fully redeemed on Lendy PBL085, the COL loan is for the residual freehold element. However to add to the confusion, the same SPV company was used for both Blocks B & C, and of course the block B loan is still live on Lendy. All fully documented on DD Central for those with access).
Returning to the Cardiff site of this thread, I've just updated the DD Central thread for this loan to include the borrowing company details. There appears to be a 2nd charge holder (non p2p) behind Lendy registered a month after Lendy.
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rocky1
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Post by rocky1 on Oct 2, 2018 3:07:22 GMT
The 11th May update confirms that another lender is providing the balance of funds needed to complete the purchase against a second charge. does lendys 2nd charge rank ahead of the other lenders 2nd charge? or did the borrower not require funds as we were told. is this loan really a 3rd charge? maybe lendy could clear up any doubts on here and the loan might start filling. so much lack of belief in anything lendy says and all trust has already gone for many lenders. borrower now seeking enhanced planning on this 0.89 piece of land.over £4m already from us in this scheme.are funds being being moved around between his many SPVs and companies?plots of land,nothing close to completion ,unable to refinance on anything.maybe these valuations for finished projects are a bit over the top as we arefinding with almost every other loan.what a bloody mess lendy has created.
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jomantha
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Post by jomantha on Oct 6, 2018 15:59:22 GMT
I live near Cardiff - accommodation for students is expensive and full.
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jonbvn
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Post by jonbvn on Oct 8, 2018 22:17:31 GMT
I live near Cardiff - accommodation for students is expensive and full. I live in Cardiff 
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Post by martin44 on Oct 8, 2018 22:20:12 GMT
I live near Cardiff - accommodation for students is expensive and full. I live in Cardiff im sorry 
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jonbvn
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Post by jonbvn on Oct 9, 2018 7:58:28 GMT
I live in Cardiff im sorry Don't be. The Diff is a great place to live.
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jomantha
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Post by jomantha on Dec 13, 2018 17:21:36 GMT
This is suspended nothing on the updates.
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jcb208
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Post by jcb208 on Dec 13, 2018 21:51:40 GMT
Lendy Support Why have you not told us why this loan along with others has been suspended.It is our money at risk,surely an update should of been posted
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