ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
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Post by ozboy on Mar 28, 2018 21:19:31 GMT
Lets be honest a few loans have failed badly and I have been caught out but on the positive side I have still come out on top, not happy I have been burnt but it could have been worse. Lendy seem to be upping their game just recently and the losses are from a dodgy set of earlier loans which at the time, if I remember correctly as soon as the loan was announced it would be fight for everything. We were all guilty of greed and not carrying out correct DD for ourselves. I for one am not pulling out just being more canny on the loans I choose to pick. I seem to remember that forumites who did carry out DD have been screaming out on this forum for three years or so about the "dodginess" of both borrowers and valuation manipulation, and the fact that Lendy were NOT applying any meaningful DD to the loans they placed on the platform (whatever BS they insist regarding that subject). Lendy chose to bludgeon on, but that is the style of Lendy leadership. Now they seem surprised that far fewer people want to trust their judgement. Those who were still "caught out" (in most cases) did not need to be. PS, I have been stuck with a moderate bit of the Exeter two. Yes, and the general consensus (bar a few) on here at the time was for me to pipe down because of a strong " That's the way it is/just accept it/stop whining" prevailing attitude.(!!) Fortunately I saw this Valuations/LTVs Merde Storm coming from a mile off, sadly, others didn't. Refer: PBL157 & PBL158 - R*****a & C****t, H****** Court Rd - LIVE ...................... Post by ozboy on Jan 10, 2017 at 12:17pm - Seems to me that shoddy & misleading Valuation Reports are OK and acceptable on here then, no-one seems to be getting too bothered about it? Until, of course, the Loan defaults and money is lost because of sales problems stemming from dubious Planning Permissions which were not commented on, or worse, completely omitted. Post by ozboy on Jan 10, 2017 at 12:36pm - Look folks, I'm done with this now, I too have just done something about it and raised the issue with SS as well Guff. And also RICS. If Investors aren't bothered about being conned mislead and do nothing about stopping practises such as this continuing in the future then fine. Do nothing. Or Complain, to RICS, SS and the FCA, and stop it now. Arrivederci. So, WRITE and COMPLAIN to The Platforms, RICS, The FCA, and your Member of Parliament - questions raised in the House should stir things up?!
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Tony
Posts: 51
Likes: 36
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Post by Tony on Mar 30, 2018 13:24:18 GMT
If any of you have money Invested with Lendy, then the Lendy bashing will only harm your cause. I think a lot are here with their popcorn 🍿 No popcorn here, just a spreadsheet full of brown stuff, how about you?
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moist
Member of DD Central
Posts: 241
Likes: 251
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Post by moist on Mar 30, 2018 17:56:15 GMT
had my call...just call me Frank.
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ped
Member of DD Central
Posts: 255
Likes: 84
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Post by ped on Apr 3, 2018 19:28:43 GMT
Lendy are back in the office today and clearly making calls, got mine this afternoon and I gave the guy my thoughts! Felt a bit sorry for him after my 5min rant, so thanked him for reaching out to investors. Then took my interest out this evening. Get some big DFLs repaid it is the only answer!
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11025
Member of DD Central
Posts: 740
Likes: 862
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Post by 11025 on Apr 4, 2018 8:14:07 GMT
Just had an email titled "Further to our call yesterday" 
The thing is I have been with Saving Stream/Lendy since 2014 and have never had a phone call from them .
I asked a question on the help & support forum last Thursday morning which I have not had a reply to
Come on guys if you are wanting to improve then you really must do better than this
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boundah
Member of DD Central
Posts: 368
Likes: 430
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Post by boundah on Apr 4, 2018 11:16:11 GMT
... All I would ask is that those emailing me would avoid any confrontational expression toward Lendy, if messages of this nature arrive in my inbox I will delete them and address blocked. ... I'm guessing you're quite a late arrival at the LY party, @magenta14 ? Either that or you've been so good at your DD that you've managed to second-guess the dodgy valuations and avoid the torrent of defaults. Anyway, I for one shan't be contributing to your love-in for a company that continues to treat its lenders with contempt and pretend all is well. I've tried the diplomatic approach already and it has zero effect. Good luck with your own efforts.
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blata
Posts: 77
Likes: 62
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Post by blata on Apr 4, 2018 11:37:00 GMT
... All I would ask is that those emailing me would avoid any confrontational expression toward Lendy, if messages of this nature arrive in my inbox I will delete them and address blocked. ... I'm guessing you're quite a late arrival at the LY party, @magenta14 ? Either that or you've been so good at your DD that you've managed to second-guess the dodgy valuations and avoid the torrent of defaults. Anyway, I for one shan't be contributing to your love-in for a company that continues to treat its lenders with contempt and pretend all is well. I've tried the diplomatic approach already and it has zero effect. Good luck with your own efforts. I have been in since almost day one and i have been hit by the odd dodgy loan and am a tad upset but overall I am making around 9% which is not the best but its something. You cant sell on quickly which upsets a lot of people, thats why I have money invested elsewhere. To many knockers recently, I have been one to, looking more positive now . Its in our interest not to constantly put them down. I would like to see the input of more people, its easy to criticise, no one sees any positive . Is it the minority who are vocal? I know people will snipe at me for making these comments but it is my opinion so at least let me have it.
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Post by Deleted on Apr 5, 2018 16:58:05 GMT
I had an email about a voice mail they claim to have sent, but... nothing.
Are we suggesting that they have run out of lenders who want to invest?
Does that mean the funding of Cowes Week didn't work well?
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Post by richardb67 on Apr 5, 2018 17:12:22 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? Am late to the thread but I also had a call from Paul a week or two ago. The reason given was that I had cash in my account and did I need any questions answered. I've dropped my Lendy investment and have now only got loans I can't move. the value is ca 20 % of my peak. I took the opportunity to politely raise my dissatisfaction with the lack of interest for loans for sale. R
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bloodycat
Member of DD Central
Posts: 184
Likes: 84
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Post by bloodycat on Apr 6, 2018 8:40:18 GMT
I had an email about a voice mail they claim to have sent, but... nothing. Are we suggesting that they have run out of lenders who want to invest? Does that mean the funding of Cowes Week didn't work well? I had the same email but received no voicemail. It is possible that it was the failed call to my mobile earlier that day ( I don't have voicemail enabled on it)- but that was from an unrecognised mobile number and I would have expected any such calls to be from a geographic number. Nothing on my landline answerphone.
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Post by loftankerman on Apr 6, 2018 11:56:20 GMT
I have been waiting patiently but not been deemed worthy of contact ( decent 5 figure sum invested). Noted. Me too, if you include the pence!
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Apr 6, 2018 12:10:39 GMT
Message Lendy support and ask for a call.
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tx
Member of DD Central
Posts: 300
Likes: 127
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Post by tx on Apr 7, 2018 19:25:32 GMT
Since the 6.5m repayment on Lend, SM moved a bit, the gloom and doom sentiment on this forum seems to have gone down a bit ... myself included, I also want to see a healthier Lendy and SM, that is in my own as well as all investors’ best interest. Hope the market condition will keep on improving.
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r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
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Post by r1200gs on Apr 7, 2018 19:54:59 GMT
Since the 6.5m repayment on Lend, SM moved a bit, the gloom and doom sentiment on this forum seems to have gone down a bit ... myself included, I also want to see a healthier Lendy and SM, that is in my own as well as all investors’ best interest. Hope the market condition will keep on improving. Very much agree. I've been with Lendy from when they first started on property and I'm now some £55,000 better off as a result. I've not had any losses and I'm reasonably happy with the loans I hold, the exception being DFL02 but the amount I have in it is insignificant. No I'm not a DD genius, just a little common sense, a lot of good luck and a big thanks to the folks who do dredge up the bad news on Lendy loans.  Some early investors are going to catch a cold on some loans, that's inevitable, but Lendy have shown that they can get it right and while my holding is much reduced, I'm still here. Just sort out the damned valuations. 
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Post by skint4achange on Apr 7, 2018 22:33:30 GMT
My main hope is that if the platform becomes more viable and people start to reinvest their repayments, Lendy do not see that as their cue to start treating investors in the same way they have over the last year or so.
Will be interesting to see how much time they devote to personalised phone calls if the SM becomes liquid again? 
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