shuff27
Member of DD Central
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Post by shuff27 on Mar 20, 2018 11:24:22 GMT
Just received email from Lendy:
'Investors, particularly those in DFL005 (The A******m), may well be interested in a new development opportunity from Lendy, to fund the next tranche of DFL019 - an exciting holiday village development in beautiful North Yorkshire.'
Well Lendy, I'm not interest unless you actually start repaying DFL005, and probably not even if you do.
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Jeepers
Member of DD Central
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Post by Jeepers on Mar 20, 2018 11:30:05 GMT
Of course the lenders in DFL 5 who have been fobbed off for months will be more than happy to sink some more cash.
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mickj
Member of DD Central
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Post by mickj on Mar 20, 2018 11:34:12 GMT
Removed
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Post by picanto on Mar 20, 2018 11:42:27 GMT
Well perhaps repay that £2million and accrued interest on DFL005 and some of those investors might be interested. And whilst you're at it, get those default loans repaid. Otherwise what do Lendy realistically expect? It's almost that Lendy are becoming completely arrogant with this e-mail.
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lobster
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Post by lobster on Mar 20, 2018 11:49:17 GMT
Dear Lendy,
Here is an exciting opportunity for you :
Simply cancel the hopelessly undersubscribed (by 4m !) loan PBL199 which is currently undermining the entire platform , then concentrate all your efforts on repaying as many outstanding loans as you can asap, whilst improving your communication at all levels, and you might, just might, have a viable future.
Hope this helps.
Love&kisses,
Lobster
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Post by scores on Mar 20, 2018 12:33:01 GMT
Yes! I think Lendy are blatantly taking the p**'s here. Why on earth would any of us who have lent money into DFL005 be interested in lending any more to anyone associated with with the DFL005 borrower.
We never asked for any of our money to be lent on to another borrowe,to build some log cabins in the first place.
I initally put my money into an advertised 2 month Bridging loan,which I was led to believe was nearing completion.
I feel totally cheated out of my investment on this loan.
Lendy have been taking the p**'s out of us for 2 months now. Why would they not continue to do so,by asking us to invest more money to a borrower who has also been taking g the p**'s out of us..
Another 1 Star rating will be appearing on the Trustpilot website soon.
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Post by investor1925 on Mar 20, 2018 12:47:21 GMT
Yes! I think Lendy are blatantly taking the p**'s here. Why on earth would any of us who have lent money into DFL005 be interested in lending any more to anyone associated with with the DFL005 borrower. We never asked for any of our money to be lent on to another borrowe,to build some log cabins in the first place. I initally put my money into an advertised 2 month Bridging loan,which I was led to believe was nearing completion. I feel totally cheated out of my investment on this loan. Lendy have been taking the p**'s out of us for 2 months now. Why would they not continue to do so,by asking us to invest more money to a borrower who has also been taking g the p**'s out of us.. Another 1 Star rating will be appearing on the Trustpilot website soon. I've just had £10.69 bonus from DFL005 credited to my account. Where on earth did that come from. Still ain't going to make me put more in
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SteveT
Member of DD Central
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Post by SteveT on Mar 20, 2018 12:54:31 GMT
Presumably Lendy are processing the promised part-repayment of DFL005, including accrued interest and bonus. Hence the invitation to consider reinvesting it in the DFL019 tranche and get 2% cashback.
[Further thought: As someone who's been around long enough to have profited from myriad cashback / bonus offers in 2015/16, when platforms had to work hard to fill loans, I find it ironic that the return of such incentives is viewed as insulting by some lenders. It's a funny old world.]
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Post by dualinvestor on Mar 20, 2018 14:00:40 GMT
I do not follow individual Lendy loans but gather progress on DFL005 has been less than smooth. Even if they are about to make a repayment/partial repayment the wording of the email even if it does contain incentives shows the utter contempt Lendy holds it's lenders in particularly the much touted 6500 alleged new ones over the past year.
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Post by freedommmm on Mar 20, 2018 22:16:12 GMT
I also think they must be takins the p**s. So much so that I replied to their email and expressed my view on it and what they really should be doing instead! If more people contact Lendy, the message might get through to somebody!
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tx
Member of DD Central
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Post by tx on Mar 21, 2018 2:33:44 GMT
Did they reply to your email? Or just the very helpful message “please refer here”?
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Post by skint4achange on Mar 21, 2018 8:04:59 GMT
[Further thought: As someone who's been around long enough to have profited from myriad cashback / bonus offers in 2015/16, when platforms had to work hard to fill loans, I find it ironic that the return of such incentives is viewed as insulting by some lenders. It's a funny old world.] Yes SteveT, but they were the days when platforms had to fight to get people to invest their money in the platform because there was so little money to fill loans. Now, platforms (This one in particular and through it's own failings!) have to offer cash incentives because nobody trusts them with their money! 
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SteveT
Member of DD Central
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Post by SteveT on Mar 21, 2018 8:31:46 GMT
Yes SteveT , but they were the days when platforms had to fight to get people to invest their money in the platform because there was so little money to fill loans. Now, platforms (This one in particular and through it's own failings!) have to offer cash incentives because nobody trusts them with their money! a) It's two sides of the same coin; too little "currently available" money to fill the currently available loans (across multiple platforms). Therefore platforms are having to offer lenders a greater share of the total yield again (as in 2015/16). As a lender who likes to make as much money as possible, I see this as GOOD news. Whether I decide to take up such an offer is entirely down to me. b) "nobody" is a bit of an overstatement. PBL199 has attracted £1.35m of funding in just 6 days, which many other platforms would kill for. That's much slower than would have been the case 12-18 months ago, but I wonder what proportion of lenders back then actually understood what they were throwing their money into? Perhaps I'm a deluded optimist, but I'm pleased that P2P platforms are having to work hard again to fill loans (doing a better job of advance DD, giving lenders a greater share of the yield, putting in place proper monitoring and recovery processes, etc.)
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Post by skint4achange on Mar 21, 2018 8:41:56 GMT
What I find the funniest is that most people are talking of removing money from Ly to put into IFISA packages to get a return of ~5% in RS/Zopa etc. What they have not actually thought about is that these IFISA funds are going to end up back in Ly getting 12% and earning 2% cash back anyway (For the ISA manager, not the investor)! They will still be exposed to the Ly way, but just not earning as much money!
I don't want to see Lendy fail, I too like earning money. But at this moment in time I do not like the way that they are treating the investors.
To prove the point about investors leaving the platform though (Ok, maybe "Nobody" was an overstatement! ), 3 months ago you would not have been able to get your hands on DFL30 with 300+ days to go. Now, there is a nice £350k available if you want it. In fact, there is nearly £5m in 280+ day loans on the platform. Sad to see.
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lobster
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Post by lobster on Mar 21, 2018 11:01:02 GMT
a) It's two sides of the same coin; too little "currently available" money to fill the currently available loans (across multiple platforms). Therefore platforms are having to offer lenders a greater share of the total yield again (as in 2015/16). As a lender who likes to make as much money as possible, I see this as GOOD news. Whether I decide to take up such an offer is entirely down to me. Well yes and no. Making more dosh is obviously good news, but it comes at an increased risk of platform failure, given that the platforms will face a double whammy of decreased volume and decreased margin on that lower volume.
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