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Post by masquedefer on Mar 29, 2018 19:16:09 GMT
Is Lundy about to fail?
You only have to look at the DFs and read the threads on the forum to know where Lundy is ultimately heading.
Like many other investors (but obviously not all who frequent this forum) I am not prepared to ramp up lundy in order to encourage new investors who might somehow keep Lundy afloat in order to help mitigate the losses of current investors.
Do not invest in Lundy. Do not encourage other investors to do so neither.
I Hope that we all get at least a 65% payout on the DFs which with all the interest earned should hopefully make us break even.
Ps Thanks for the fish.
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Jeepers
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Post by Jeepers on Mar 29, 2018 19:22:16 GMT
It will do if we keep seeing posts like this!
Are you an investor or just here with your popcorn ?
Just keep quiet and hope for the best !
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Post by masquedefer on Mar 29, 2018 19:32:18 GMT
It will do if we keep seeing posts like this! Are you an investor or just here with your popcorn ? Just keep quiet and hope for the best ! I have no issue with Lundy failing. Our loans are ring fenced are they not(  ??). Are you an investor or just here with your popcorn ? Family investement of £300K+. Now reducing as fast as possible. Don't like popcorn or such attitude. Just keep quiet and hope for the best !I will not sit back and watch Lundy's fortnightly BS encourage new "mushrooms" to throw their money at this incompetent company. <personal attack on a Platform Representative removed by a Moderator>
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SteveT
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Post by SteveT on Mar 29, 2018 19:38:57 GMT
Funny how you still can’t spell their name then.
If by “fail” you mean become insolvent, I doubt it for the foreseeable future. Every loan that’s paying monthly interest to lenders (from the ring-fenced sums withheld at drawdown) is also paying monthly margin to Lendy, since the borrowers are charged much more than 12%.
If there are approx £140m of live loans with "Interest on Account", and Lendy are charging 18% but paying 12%, that would suggest a margin income of some £700k per month. Certainly £500k+
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sarahcount
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Post by sarahcount on Mar 29, 2018 22:25:17 GMT
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sussexlender
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Cheat seeking missile
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Post by sussexlender on Mar 29, 2018 22:32:25 GMT
Hi sarahcount. Brilliant post. The best laugh for some time. Many thanks. Happy Easter SXLR
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Post by mrclondon on Mar 29, 2018 23:54:34 GMT
I had a quick scan down today's updates for the loans I'm in, and to be honest, I'm more concerned about the number of loans that may repay in the next month and my ability to reinvest the funds into new loans (not extra tranches of loans on L or elswhere)
DFL023 (Barnsley) - next partial repayment due next week, remaining balance to be cleared in next 5 weeks (£300k) Already mostly repaid.
DFL024 (Warrington) - refinance due to complete next week. (£2m) (I'm slightly sceptical with this one, and further delays wouldn't be surprising)
PBL168 (Shoreham) - refiance should complete early April (£4.8m)
DFL004 (Wolverhampton) - refinance should complete mid April (£14.3m)
DFL008 (Liverpool) - partial repayments should commence in a few weeks time
Which is £21.4m potentially repaying in the next five weeks. And thats just the loans I'm in, there may be others with imminent payments being forecast. Yes, some of this will be withdrawn, but a lot will get recycled into the SM overhang.
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Jeepers
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Post by Jeepers on Mar 30, 2018 4:22:44 GMT
I think Sunbeam would be the biggest ever P2P loan repayment. Decent marketing tool for Lendy if it happens.
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lobster
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Post by lobster on Mar 30, 2018 4:49:38 GMT
I think Sunbeam would be the biggest ever P2P loan repayment. Decent marketing tool for Lendy if it happens. Fair point - If the borrower is good for their word then a monster repayment of £14m will take place on 14th April . If the repayment does indeed take place, it will be interesting to see how much is utilised to buy loans on the SM. Even 25% (say about £3.5m) would tidy up the SM quite a bit. First things first though - the borrower needs to actually cough up on 14th April. We all know that " .. the borrower should repay ....." is a long way from a certainty. Fingers crossed.
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macro
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Post by macro on Mar 30, 2018 6:13:24 GMT
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rocky1
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Post by rocky1 on Mar 30, 2018 7:24:40 GMT
LENDY WILL NOT FAIL i believe that they will/have found all this a sharp learning curve and all future loans will be well scrutinised and hopefully be presented to our advantage with fair valuations and honest regular updates. they will have to take a hit just as we are all doing and not let borrowers dictate what they want.if they dont like the terms or cant keep to them refuse them. we are all frustrated/angry/dissapointed ect and LENDY are guilty of most of it and now realise that we are not a bottomless pit and timely repayments of capital and interest are just as important as originating new loans to keep the wheels turning and building a steady and sound business up over time.it is not to late for LENDYto turn this round and for anybody to wish them to fail does not help any thing. lets just see how things play out and if LENDY do pursue these borrowers who have run rings round them and get results then we can bring stability back to the platform and probably make LENDY the biggest and best p2p in europe.LENDY THIS MUST ALL BEGIN WITH YOU
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bugs4me
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Post by bugs4me on Mar 30, 2018 8:32:03 GMT
I cannot see LY failing whatever the doom and gloom posts round these parts may predict.
Once they have sorted out those defaults with investors undoubtedly taking a haircut, I expect to see a smaller but more robust operation. Sure many folks will withdraw their funds and go elsewhere.
The P2P marketplace has changed. Gone are the days where any platform could simply offer a 12% plus return with minimal information - investors have become far more inquisitive and rightly so. Little is being taken on face value.
So for LY, once the dust has settled, operating with a smaller investor base I feel they will have a great opportunity to grow again. Loan opportunities, LTV’s, on-going monitoring, etc being far more professionally adopted in order to rebuild both current and future investor confidence.
I would be content with less than 12% in order to achieve this.
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stokeloans
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Post by stokeloans on Mar 30, 2018 8:58:23 GMT
Is Lundy about to fail? You only have to look at the DFs and read the threads on the forum to know where Lundy is ultimately heading. Like many other investors (but obviously not all who frequent this forum) I am not prepared to ramp up lundy in order to encourage new investors who might somehow keep Lundy afloat in order to help mitigate the losses of current investors. Do not invest in Lundy. Do not encourage other investors to do so neither. I Hope that we all get at least a 65% payout on the DFs which with all the interest earned should hopefully make us break even. Ps Thanks for the fish. Are you related to Gerald Ratner by any chance ? And it's LENDY not Lundy
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dandy
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Post by dandy on Mar 30, 2018 9:10:30 GMT
They have already failed and are just working out how to save as much of their £3m profit as is possible
WAKE UP is all I can say to anyone who thinks otherwise
It's sad and i don't think there was necessarily any mal-intent on the part of the directors. But it is what it is, which is anilliquid and default-infested loans platform with a fatally tarnished brand.
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Jeepers
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Post by Jeepers on Mar 30, 2018 9:21:34 GMT
They have already failed and are just working out how to save as much of their £3m profit as is possible WAKE UP is all I can say to anyone who thinks otherwise It's sad and i don't think there was necessarily any mal-intent on the part of the directors. But it is what it is, which is anilliquid and default-infested loans platform with a fatally tarnished brand. How have they already failed? It's not a bank where you deposit into an instant access savings account. The only thing that's failed is their strategy to become 'the biggest and best platform in the universe or whatever they once said. Hopefully it will move to a more steady and stable growth moving forward.
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??). 
