zlb
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Post by zlb on Mar 14, 2018 18:47:44 GMT
Now live, only 20% taken, £4m onto the SM. Unlikely even the much delayed £2m partial repayment from DFL05 could help, if it ever appears? How long will Lendy wait before forced to pull it? Uncharted territory. that's a lot. Wonder how much of that is owing to investors holding back until some defaults pay back...
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webwizard
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Post by webwizard on Mar 14, 2018 19:19:38 GMT
Given the current update and average per investor an additional 3481 investors all putting in £1194 is required to fill this loan.
Likely to run and run this one, but this will be difficult to draw down to purchase the land without full investment.
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Jeepers
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Post by Jeepers on Mar 14, 2018 19:20:33 GMT
As it looks to the outsider, there's no chance of this being filled.
I'm hoping Lendy are expecting some big repayments to fill this hence why they are giving it a go, otherwise they're just wasting money paying interest before it's pulled.
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moist
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Post by moist on Mar 14, 2018 19:28:05 GMT
my prefunding on this loan relied on the promised repayment of another.....so thats another 25k back to the available Q
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lobster
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Post by lobster on Mar 14, 2018 19:43:06 GMT
OK , so this doesn't look good , but to be fair to Lendy they have at least dumped all of the remaining loan back onto the SM (I assume !!?) - something which I questioned earlier.
Who know though - maybe a couple of (very) big hitters will fill their boots , helped along with the prospect of a 2% cashback in a couple of weeks time, and the 4m currently available will be gobbled up.
However, this lobster's pincers are jammed shut for this one, even moreso given the exceedingly lukewarm opening, plus the fact that there are other long dated 12% loans available, and particularly plus the fact that Lendy are overdue so many repayments.
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hector
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Post by hector on Mar 14, 2018 19:58:19 GMT
Just gone live. £4,160,700 remaining (868 participants) Will be interesting to see if this draws down by the 31st and, if it hasn't, what happens to CB payments.... That figure will probably increase as those on the naughty step have their non payment pre funds added onto the SM
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lobster
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Post by lobster on Mar 14, 2018 20:06:39 GMT
To any exceedingly big hitters out there - why not pick up 4m of this bad boy , and look forward to a cool £80,000 cash back on 1st April ?  ......... followed by an equally cool £40,000 a month until it defaults repays ?  |
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Post by Deleted on Mar 14, 2018 20:24:36 GMT
Wow, I thought they'd struggle to fill this monster but with an effective year one year rate of 14%, and only a fifth of the loan pre-funded, even Lendy must be shocked with this lame performance. What can help them now? A substantial DFL repayment would help restore a little faith and provide some funds for those like me who aren't withdrawing (yet) but are only reinvesting interest/repayments. Having said that it's difficult to see where that payment could come from in the near future. I reckon the only other hope they have is to show some humility. Yes humility, find it in the dictionary Lendy Support, it may be your saviour. I suspect the general consensus is Lendy are the most cocksure of platforms, with a box full of excuses on hand that ensure nothing is ever their fault. If they can climb down from their lofty perch and find common ground with lenders, admit to some of their mistakes, provide some honest updates, and show some general goodwill, it might, maybe, perhaps go a long way. Otherwise they are starting to look like they have a substantial hole to dig themselves out of, or alternatively be buried alive! |
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hazellend
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Post by hazellend on Mar 14, 2018 20:31:16 GMT
I think the P2P lending community is tapped out, with money stuck in performing/nonperforming loans.
Nothing is going to move easily on any of the platforms until Lendy get some of the DFLs repaid.
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bramhall17
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Post by bramhall17 on Mar 14, 2018 20:46:10 GMT
Think you have completely nailed it there Hazellend !
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Post by skint4achange on Mar 14, 2018 21:41:59 GMT
The FAQ article linked to in the loan overview was last updated 28/2/2018 at 18:01 so are 'in effect' when the loan went live. Note there is no mention of the loan needing to have drawn down for CB to be paid at the end of the month. Just in case anyone should need to refer back to them, the contents of the article are below and also captured (with date and time) on web.archive.orgMy Blue above (Sorry for using colours!  ) This may be their get out clause. This is not a DFL, it's a PBL. We all know how slippery them folk at Lendy towers can be! 
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trevor
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Post by trevor on Mar 14, 2018 21:50:33 GMT
I am very surprised this loan wasn't pulled given the very low level of pre funding. With a shed full of tranches still to be listed and filled this loan wil just reduce the chance of tranches yet to be listed to be filled.
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Post by mrclondon on Mar 14, 2018 22:22:27 GMT
Given SD is a long standing (important) customer, Lendy may have felt obliged to demonstrate openly and conclusively that the demand for this loan was weak, rather than rely on the pre-funding data as proof.
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Liz
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Post by Liz on Mar 14, 2018 22:34:34 GMT
To any exceedingly big hitters out there - why not pick up 4m of this bad boy , and look forward to a cool £80,000 cash back on 1st April ? ......... followed by an equally cool £40,000 a month until it defaults repays ? Then you can offset a cool £4m from profits elsewhere in 12 months time.
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southport
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Post by southport on Mar 15, 2018 0:17:15 GMT
I am very surprised at the lack of investment in this loan, I was expecting it to be undersubscribed but only a 20% take up?
This does not look good for Lendy. If they cannot fill this loan, which on the face of it looks like a good loan, how are they going to fill upcoming tranches of the numerous DFL's (many to the same borrower) they still have to fund? It doesn't look like investors will be returning any time soon.
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) This may be their get out clause. This is not a DFL, it's a PBL. We all know how slippery them folk at Lendy towers can be! 
