Mucho P2P
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Post by Mucho P2P on Dec 14, 2018 21:09:40 GMT
Seems odd, surely Lendy need to fill the second charge loan and with the full repayment of DFL008, this is the best chance they will have at doing that? A lot of money was repaid yesterday to investors accounts. There is quite a lot of investors reinvesting today, and that's without an email informing people of the repayment. I am suggesting that Lendy may prefer money to go into certain loans and so suspended others. Are you suggesting that Lendy is manipulating the secondary market? Or that Lendy is manipulating the Lenders?
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Mucho P2P
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Post by Mucho P2P on Dec 14, 2018 21:12:54 GMT
Quite possibly. When I wrote my original reply to you I thought it was only this loan that had been suspended. I've only just noticed in the past couple of minutes that other loans have been suspended as well. I guess we will have to wait for an announcement from Lendy as to what is going on. More chance of an 8-ball reply than Lendy coughing up a half-baked explanation for its lenders in a reasonable time span.
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mary
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Post by mary on Dec 15, 2018 7:38:00 GMT
There’s £300k on DFL201 that not drawn down, but suspended.
Plus an additional £200k for DFL03/22.
Surely Lendy should return this money to investors immediately?
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rocky1
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Post by rocky1 on Dec 15, 2018 8:55:39 GMT
doubt it very much lendy might carry on paying IOA for a while which is only 1% of lenders own money anyway.who knows what sort of BS they will come up with.maybe monday will bring everything out into the open.
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Mucho P2P
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Post by Mucho P2P on Dec 15, 2018 9:43:05 GMT
There’s £300k on DFL201 that not drawn down, but suspended. Plus an additional £200k for DFL03/22. Surely Lendy should return this money to investors immediately? Many reasons why they might not have returned the cash, as a pure example, a Court order freezing the assets. As of the 3.12.2018 all was fine with these loans with 100+ days to repayment, then suspended. This is such a pattern with Lendy to suspend loans with months of time left to run, that it shakes the confidence in any lender to invest in ANY loans, as there is a definite track record of "suspending" loans well within the term date. Until we hear from tardy communicator Lendy about these loans, it is anyones guess!!
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rocky1
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Post by rocky1 on Dec 15, 2018 11:12:57 GMT
Some people really seem to hate this loan. Personally, I think it is a good one for the return. I would have invested more but s****** dodgy borrower has put a stop to that not the only dodgy borrower who passed all of lendys robust/rigourous/DD/etc etc.i also feel that this borrower will be pulling the same strokes further down the line.i am trying to be positive about lendy but with over £40million of our money in limbo non performing/sus/claims underway and all the legal and other costs that will take years to sort out at our expence.this platform is full of dodgy borrowers and it seems a dodgy company who turn a blind eye for their own gains.it is us the lenders and not lendy who are taking all the risks here and being reeled in to this mess. well this borrower is right up there with the rest of them.running rings around lendy for the past couple of years with millions being thrown at him for enhanced planning/extension costs/other costs/beer/fag/holiday money.all confirmed in the latest IMS reports on these schemes.nothing anywhere near finished.well diversified lendy who needs fund managers to lose money.just leave it to lendy.
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Post by supernumerary on Dec 15, 2018 11:52:44 GMT
There’s £300k on DFL201 that not drawn down, but suspended. Plus an additional £200k for DFL03/22. Surely Lendy should return this money to investors immediately? Mary, I noted the following yesterday on this thread; Reviewing the PBL201 update for 28/09/2018, written by Lendy; “This second charge loan was added to the platform and drawn down in the middle of last month, to assist with the costs of an enhanced planning application.”
...and yet PBL201 states, Drawdown: NO. PLEASE note the 'disparity' in the information given... 
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jcb208
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Post by jcb208 on Jan 2, 2019 13:40:44 GMT
Trying to get my head around the interest on this loan.Can some one tell me the date interest was paid up to in december
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MONEY
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Post by MONEY on Jan 2, 2019 14:52:28 GMT
Trying to get my head around the interest on this loan.Can some one tell me the date interest was paid up to in december Currently, 25 of the 31 days interest due for December 2018.
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goopy
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Post by goopy on Jan 5, 2019 12:04:05 GMT
Does anyone know why the full interest has not been paid on the first tranche this loan?
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Post by picanto on Jan 21, 2019 10:56:37 GMT
Trying to get my head around the interest on this loan.Can some one tell me the date interest was paid up to in december Currently, 25 of the 31 days interest due for December 2018. Has anybody queried this with Lendy support and received an explanation? I know the loan is suspended but that doesn't mean that interest stops being paid on account (likewise with the other suspended loans) and also it was suspended much earlier in December than the 25th.
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goopy
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Post by goopy on Jan 22, 2019 9:02:07 GMT
Currently, 25 of the 31 days interest due for December 2018. Has anybody queried this with Lendy support and received an explanation? I know the loan is suspended but that doesn't mean that interest stops being paid on account (likewise with the other suspended loans) and also it was suspended much earlier in December than the 25th. Thank you for your email.
That is correct interest has only been paid up to 25 December 2018. This is because the borrower has only paid interest on this loan up to 25 December 2018. Interest will continue to accrue on account. As per the latest loan update, we will provide a detailed update as soon as we can and in any event on or before the next monthly update at the end of January 2019.Thank you for your patience in this matter.Kind regards,The Lendy Support Team
I must have missed that. I wasn't aware that interest was only paid up to 25th December and I can't find where it actually says interest was not paid for the full loan term??
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r00lish67
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Post by r00lish67 on Jan 22, 2019 9:44:55 GMT
Has anybody queried this with Lendy support and received an explanation? I know the loan is suspended but that doesn't mean that interest stops being paid on account (likewise with the other suspended loans) and also it was suspended much earlier in December than the 25th. Thank you for your email.
That is correct interest has only been paid up to 25 December 2018. This is because the borrower has only paid interest on this loan up to 25 December 2018. Interest will continue to accrue on account. As per the latest loan update, we will provide a detailed update as soon as we can and in any event on or before the next monthly update at the end of January 2019.Thank you for your patience in this matter.Kind regards,The Lendy Support Team
I must have missed that. I wasn't aware that interest was only paid up to 25th December and I can't find where it actually says interest was not paid for the full loan term?? As observed previously, there's much evidence in recent months that Lendy are now systematically acting in direct contradiction to their own policy of holding Interest on Account. Which seems pretty scandalous to me.
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Post by picanto on Jan 22, 2019 10:10:14 GMT
This is completely inexcusable from Lendy. Firstly, there was no notification on their website that the borrower had only paid interest up until the 25th December. Secondly they are breaching their own terms that interest is paid upfront for the whole loan term before the loan is drawn down. What about the other suspended loans from the same borrower, are they too not been paid the interest upfront? I try and defend Lendy but surely this is something the FCA have to look in too?
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goopy
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Post by goopy on Jan 22, 2019 10:22:58 GMT
Thank you for your email.
That is correct interest has only been paid up to 25 December 2018. This is because the borrower has only paid interest on this loan up to 25 December 2018. Interest will continue to accrue on account. As per the latest loan update, we will provide a detailed update as soon as we can and in any event on or before the next monthly update at the end of January 2019.Thank you for your patience in this matter.Kind regards,The Lendy Support Team
I must have missed that. I wasn't aware that interest was only paid up to 25th December and I can't find where it actually says interest was not paid for the full loan term?? As observed previously, there's much evidence in recent months that Lendy are now systematically acting in direct contradiction to their own policy of holding Interest on Account. Which seems pretty scandalous to me. This loan however, has not been extended the original term was 365 days and there is still 122 days remaining. When I purchased loan parts for this I was under the impression that there was interest on account for the full term and I'm still searching to see if I've missed something. Up to now I haven't found anything that says only 6 or maybe 7 months interest had been paid on account. If I had known I wouldn't have bought into the loan. 
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