dovap
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Post by dovap on Mar 15, 2018 12:29:38 GMT
Doubt it'll get pulled -
suspect the borrower is 'too big to fail' and as such he prob tells them what to do and when
now if only he finished and repaid a few then maybe there would be more appetite for this one
(except for those desperately hoping it's good already obv)
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rocky1
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Post by rocky1 on Mar 15, 2018 13:44:26 GMT
Doubt it'll get pulled - suspect the borrower is 'too big to fail' and as such he prob tells them what to do and when now if only he finished and repaid a few then maybe there would be more appetite for this one (except for those desperately hoping it's good already obv) borrower cannot be to big to fail just look at what happened to carillion and a few of the top people in the know cleared off trousering a few million between them and loosing nothing.nothing or nobody is too big to fail.
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Post by df on Mar 15, 2018 14:47:23 GMT
I would have invested it it weren't for the fact that I already have funds with the borrower for other projects. He seems competent, but too many eggs and all that. This is one of the reasons I didn't invest in this. Also I've recently become allergic to CB's and will stay away from loans offering it. As a majority of Lendy loans go - it is most likely that the capital won't be repaid on time and we'll end up with our funds being locked waiting for miracle until it is sold at auction for less than half of headline value sometime in 2020.
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lobster
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Post by lobster on Mar 15, 2018 16:35:28 GMT
It should also be borne in mind that Lendy did sell about 1m of this loan (about 20% of the full loan). Can't help wondering how much of this will 1m be dumped back onto the SM in a couple of days time ? Those lenders holding loan parts from the initial offering may well be having second thoughts about the wisdom of hanging on to them, given the miserable participation rate.
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joker7
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Post by joker7 on Mar 15, 2018 17:00:35 GMT
Anyone have a link to whats on the SM - the link in the main forum section I was using before Isnt updating properly.. p2pindependentforum.com/post/117171This is the one I was using before,,but hasnt been updating properly for a few months now |
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joker7
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Post by joker7 on Mar 15, 2018 17:16:00 GMT
Aaah I see now, thanks, lets hope he has some spare time this weekend and his thinking hat on.;
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hazellend
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Post by hazellend on Mar 15, 2018 17:54:32 GMT
I think people are being overly negative about this loan.
I am not investing because my P2P funds are all tied up but if I had funds I would probably invest (after due diligence).
Would probably have been more successful offering at 14% and with a lower LTV
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tx
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Post by tx on Mar 15, 2018 18:17:45 GMT
I am amazed actually to see a steady flow into this loan and huge (largest I ever saw on SS) funding gap. It is now down below 4m.
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webwizard
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Post by webwizard on Mar 16, 2018 16:22:08 GMT
Currently £3,952,704 remaining.
I presume that as this funding is required to purchase the property (100%), the borrower will actually need all or most of it to achieve that. Therefore it might remain not drawn until all or most has gone from the SM. At the current trickle rate that might take quite some time and all that while Lendy will be paying interest to the lenders. Equally, I presume that the borrower will not be paying interest as they don't have the funds drawn down yet. Lenders in this loan will not be able to sell their loan parts either with so much remaining on the SM.
The last loan I can remember doing this (and there may have been others) was the fortified house....
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trevor
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Post by trevor on Mar 16, 2018 21:09:22 GMT
My bet is will have to be pulled
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webwizard
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Post by webwizard on Mar 17, 2018 10:25:58 GMT
The amount available has jumped back over 4 million...........£4,189,593 Presumably, this reflects those that pre-funded but did not transfer the funds within the required time, so returned to the SM.
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fasty
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Post by fasty on Mar 17, 2018 11:58:53 GMT
The amount available has jumped back over 4 million...........£4,189,593 Presumably, this reflects those that pre-funded but did not transfer the funds within the required time, so returned to the SM. Probably a fairly wise move?
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Jeepers
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Post by Jeepers on Mar 17, 2018 12:54:05 GMT
We see all this BS about growth in investors... now over 20,000 registered etc and yet they can't even get a quarter of a '50% LTV' loan filled even with the 2% cashback.
Just embarrassing themselves really.
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trevor
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Post by trevor on Mar 17, 2018 13:12:52 GMT
As small tranches are not filling and large new loans don't even get 20% filled they will be foolish to bring any new loans to the platform until they have paid back some of the defaults and given us some confidence but the news coming out does not suggest that we're going to get much back anytime soon. I shall continue to withdraw every penny I can.
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hector
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Post by hector on Mar 17, 2018 14:00:27 GMT
The amount available has jumped back over 4 million...........£4,189,593 Presumably, this reflects those that pre-funded but did not transfer the funds within the required time, so returned to the SM. As I warned just after it went live with over £4M dumped on the SM by Bendy
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