poppyland
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Post by poppyland on Mar 27, 2018 13:52:11 GMT
My 20 year old son just got phoned up by Lendy for a friendly chat. He's been investing some money left to him by his grandad since 2016, but in January, on my advice, pulled out everything that he could, and moved it to Ablrate. The bloke from Lendy was offering to answer any questions he has. Anyone else received a similar call?
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ferdy
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Post by ferdy on Mar 27, 2018 13:56:39 GMT
My 20 year old son just got phoned up by Lendy for a friendly chat. He's been investing some money left to him by his grandad since 2016, but in January, on my advice, pulled out everything that he could, and moved it to Ablrate. The bloke from Lendy was offering to answer any questions he has. Anyone else received a similar call? Yes. I had one about an hour ago. A general chat . I gave him my thoughts on a few subjects and he said he would pass my comments along.
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GeorgeT
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Post by GeorgeT on Mar 27, 2018 13:57:21 GMT
Yes. A forum member called Rxdav (I think) posted on here yesterday that he had received a phone call from LY trying to persuade him to stay after he pulled most of his money off the platform.
I have not yet had my call but it seems that almost as a final resort they are now ringing up the investors to try and answer their concerns and persuade them to invest some more money. I fear it is too late and the horse has already bolted.
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Balder
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Post by Balder on Mar 27, 2018 13:57:54 GMT
Yes, the same yesterday - followed by an email. Looks as if they are getting desperate for filling certain loans.
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Jeepers
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Post by Jeepers on Mar 27, 2018 13:58:46 GMT
Perhaps they should get on the forum to gauge the investors thoughts instead of cold calling !
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Jeepers
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Post by Jeepers on Mar 27, 2018 14:12:24 GMT
I haven't had a phone call and ive reduced by about 60% so perhaps they're targeting a certain age group ?
The OP says they called a 20 year old. The say with age comes wisdom so are they preying on the youngsters?
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rocky1
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Post by rocky1 on Mar 27, 2018 15:01:10 GMT
LENDY must be getting desperate just look at the latest trust pilot review from tim he must work for LENDY if he can buy and sell loan parts as and when i wonder if LENDY will contact him or reply with the usual BS
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poppyland
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Post by poppyland on Mar 27, 2018 15:22:12 GMT
I haven't had a phone call and ive reduced by about 60% so perhaps they're targeting a certain age group ? The OP says they called a 20 year old. The say with age comes wisdom so are they preying on the youngsters? Yes, it's interesting that although I have invested much more than my son (and like him, withdrawn all that I can), I haven't received a phonecall. It's hard not to feel sorry for Lendy in their current predicament, but really we should feel a lot more sorry for the investors who potentially stand to lose large sums of money at the end of a long stressful time of waiting. The bottom line is that if the worst comes to the worst, the owners of Lendy will not lose a penny while the folks who invested with them will potentially lose thousands.
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r1200gs
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Post by r1200gs on Mar 27, 2018 15:31:14 GMT
Perhaps they should get on the forum to gauge the investors thoughts instead of cold calling ! I would agree with you but the Indy may be considered as being too public an environment for a private conversation. In a broader sense though it may be helpful if Lendy were to visit with us too as this may allow them to cover a lot of ground in a short space of time...It's unlikely that I'll receive one of these phone calls because my personal wealth is low, low and my few quid would represent less than a single grain of sand to even filling a small PBL others though may have access to a far greater funding pot than me so it is possible that these one on one phone calls may continue. Anyone any idea who it is that's making the calls, does anyone have a name? They'll be eaten alive on this board and they know it.
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bugs4me
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Post by bugs4me on Mar 27, 2018 15:42:50 GMT
It's hard not to feel sorry for Lendy in their current predicament, but really we should feel a lot more sorry for the investors who potentially stand to lose large sums of money at the end of a long stressful time of waiting. The bottom line is that if the worst comes to the worst, the owners of Lendy will not lose a penny while the folks who invested with them will potentially lose thousands. I have no sympathy whatsoever for LY who IMO, whilst they no doubt started with the best intentions have in recent times been driven by greed lacking in their loan offerings.
The only positive from a personal viewpoint is my current IRR is showing 13.03%. This is false as it does not take into account those wretched defaults. If there was a 50% recovery which is probably a tad optimistic then the IRR will fall to 8.23%. A total wipe out in the defaults and the end result will be 2.49%.
So I expect to finish up my 'career' in LY somewhere between the 8.23% and 2.49% figure. Fortunately I was in during the 14-16 golden period.
If I was looking at them now to invest I wouldn't give them a penny. They have demonstrated an apparent cavalier attitude towards investors lately especially their funds. Obviously their ego got totally out of hand. So my sympathies are with investors that bought into the 'never lost a penny of investors funds' claim plus the security felt by the FCA authorisation.
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dovap
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Post by dovap on Mar 27, 2018 15:50:28 GMT
phonecall wondering why someone has withdrawn is understandable
unless it rapidly turns into an unsolicited sales call punting a great opportunity to buy some sheds in a desolate northern field obv.
(bit like one of those you've won a prize draw you weren't in calls but less convincing)
meh
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Liz
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Post by Liz on Mar 27, 2018 16:09:47 GMT
No phone call, what a shame I never updated my phone number 3 years ago 😂
I
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Post by loftankerman on Mar 27, 2018 16:51:34 GMT
Through long standing savings arrangements with Equitable Life I had a ‘manager’ who was fairly ‘hands off’, mostly just being the signatory of status reports. When their situation started to look worrying, I found that I suddenly had new ‘manager’. He would call me with a sense of urgency offering great new opportunities, wanting me to ‘maybe just put £1000 in.’ and he always wanted to know if I had any friends who might be interested. I don’t remember that persisting for very long before they closed to new business and the next and darker phase was entered. It has been that pervading and now extended sense of déjà vu that I have been having for the past 12 months that has got my involvement with Ly down to under 4k in DFL004 and DFL005. I don’t await my phone call as we have Call Guardian on the land line, so cold calls never gets through.
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Post by loftankerman on Mar 27, 2018 18:46:47 GMT
Through long standing savings arrangements with Equitable Life I had a ‘manager’ who was fairly ‘hands off’, mostly just being the signatory of status reports. When their situation started to look worrying, I found that I suddenly had new ‘manager’. He would call me with a sense of urgency offering great new opportunities, wanting me to ‘maybe just put £1000 in.’ and he always wanted to know if I had any friends who might be interested. I don’t remember that persisting for very long before they closed to new business and the next and darker phase was entered. It has been that pervading and now extended sense of déjà vu that I have been having for the past 12 months that has got my involvement with Ly down to under 4k in DFL004 and DFL005. I don’t await my phone call as we have Call Guardian on the land line, so cold calls never gets through. LMAO. I don't believe it! I have just had an email from Lendy: Dear *********,
It was great to speak with you today about any further support you may require with the platform.
As we discussed I am writing to re-present certain development projects and to give you an opportunity to invest further.
Lending for property development has boomed over recent years from both mainstream and alternative finance lenders, with the biggest increase coming from P2P companies like Lendy. Last year Lendy arranged over £48.9m in development loans alone.
Development lending is however at the riskier end of the property finance market, because of the wide range of problems that can arise with unbuilt schemes — from struggles with planning permission to failing to find tenants or unexpected increases in construction costs.
It is partly for this reason that Lendy is able to offer such high returns to investors, with our plans typically offering 12% pa plus bonuses, which we believe is particularly attractive in the current low-yield interest rate environment.
Indeed, with banks and other traditional lenders needing to hold more capital against this type of financing - making it less cost-efficient to lend on development schemes - it is falling on companies like Lendy and their community of investors to fill the funding gap, which could deteriorate as Britain’s housing crisis grows.
Our latest projects seeking funding include:
• DFL019 – Tranche 20 (Pickering), which offers 12% pa plus a 2% cash back
• DFL – Tranche 1 (H********** Quay), which offers 12% pa
• DFL010 – Tranche 7 (Leisure Village), which offers 13%
• PBL199 – (Suffolk House), which offers 12% plus 2% cash back
As with all types of investment, capital is at risk, so we always recommend you take independent financial advice.
We are looking at developing some new products with a lower risk/reward ratio. Please advise if this type of investment would be of interest to you.
Please contact us here if you are ready to invest in any of the above loans or are interested in future products.
Kind regards
The Lendy Team
They didn't speak to me today, my phone knew better than to put them through. Still at least I know I am on their gullible list. I suppose it could be because I have so little with them that they probably think could be good for a few bob more.
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tx
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Post by tx on Mar 27, 2018 19:22:25 GMT
They didn’t give me a call, surprisingly ... I was hoping they would ...
New products?! Hmmm ... something like the AC 30 days notice account, some kind of wrapper of the high risk project and just give lower return. Maybe not 30 day, 365 days more like it.
Think back 2007 and before, just do want ABN Amro’s CDOs, laters of subordinate loans and became triple A rating.
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