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Post by GSV3MIaC on May 9, 2018 6:11:11 GMT
Just log in and go to tne pbl120 loan page, if you don't have an email to take you there...
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invester
P2P Blogger
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Likes: 618
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Post by invester on May 9, 2018 6:59:54 GMT
I feel that relative to a year ago they are in a much worse position.
The kind of shenanigans we have seen on the multi-million quid loans has reduced the appetite for them markedly. A new loan at 70% LTV for a few million would fill extremely slowly, or not at all looking at the recent one.
FS have been down the same route, and in order to make up for this they have really ramped up the deal flow. Looking at their latest loans it seems they have swerved big loans altogether aside from existing ones which need new tranches, and this year their average must be £100k a loan.
SS don't have many tools left to stimulate interest. Their desire to improve comms I feel hasn't changed much. They could raise interest rates again, but that either reduces their possibility or raises costs to the borrower, who has then more motivation to do a 'renege and rebuy'.
Going forward without people financing their loans in full they won't close deals, so the logical step forward for them will be to chase smaller loans.
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sl75
Posts: 2,092
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Post by sl75 on May 9, 2018 7:52:44 GMT
... the logical step forward for them will be to chase smaller loans. Quite. Is there still a market for loans secured on boats? Have Lendy lost the expertise in that area that they had before moving into the property market? As I recall, even the superyacht achieved a full recovery giving them a 100% record in that business area - all other boat loans had already been fully repaid by the time I joined the platform. As the business area in which Lendy has a verifiable and proven track record of success, it might even be seen as "lower risk" than the property loans where some investors are seriously doubting Lendy's competence, allowing Lendy to have a lower headline interest rate and thereby either achieve a better margin or offer a more competitive deal to borrowers.
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rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
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Post by rocky1 on May 9, 2018 7:56:36 GMT
a logical step forward would be to get of their high horses and stop running us around in circles with the utter tosh they keep giving out.
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Post by patright on May 9, 2018 15:43:34 GMT
Their lack of responsiveness in this forum or the lame excuses made when they do show up like my favorite : :"it's because of local election that we couldn't get anything done" speaks volume
such arguments could be heard in Cuba or N.Korea but in the UK..well no way
in any case, they took their cuts on every loan already, they add new one and keep on taking their cuts and best of all, for some cheerleaders around this forum, all of that is ok for one reason...they said "you're money is at risk"
probably would have been better to say : You're money is lost but then again, how to take a cut on loans by telling the truth
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rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
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Post by rocky1 on May 9, 2018 18:14:01 GMT
dont you sometimes get the feeling that lendy do not really give a t**s and will keep this circus going for as long as they can keep pulling in investors money until things eventually stall.the loan book is in a mess nomatter how you try and dress it up.a company who really have a long term plan would not be in this situation.why cant profits/provision fund be used to safe guard the company through a bad time. or is only a bad time for many lenders. at this moment lendy are getting deeper and deeper into that hole.
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empirica
Member of DD Central
Posts: 326
Likes: 235
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Post by empirica on May 9, 2018 19:50:06 GMT
I was in this loan but sensed danger and sold out. If I'd been able to vote I'd have voted for the preservation of my capital; yes to a sale now. Capital is king and safeguarding it a top priority, that capital could begin earning interest again elsewhere. Granted if there appear to be realistic near term prospects to return all capital + accrued interest then excellent But if the horizon is obscured or distant then it makes sense to retrieve now and move on. Just my personal views and contrary to those expressed above by others. You may find that you have posted in the wrong thread. If so, I'm sure some kindly Moderator will come and establish order. The way I'm looking at it is this as a new loan. The original loan was £1.59 million against an asset valued at £2.65 million giving and LTV of 60% and paying 12% pa. This new loan amount is £650,000 against security valued at £2.65 million leading to an LTV of 25%. The rate is 12% plus the 2.5% Bonus Accrual lump. On top of that, there is a strong possibility that any Accrued Interest outstanding will also be paid. At 12% for 286 days, that's another 9.5% lump to be added. (For those invested since IA began.) Factor it all together and, crudely speaking, if the loan continues for one year, the returns are 24% on a loan with an LTV of 21% (Again, for those invested since IA began.) Would you choose to invest in a new loan with those attributes? Of course, if an individual's concerns about Lendy's ability to survive are so great, then by all means vote to accept the offer, but if outvoted, at least be happy you are in the strongest and best paying loan on the platform. | Accrued Interest |
| | New Loan |
| £1000
| Capital |
| £1000 | Capital | | 12% | Int Rate |
| 12% | Int Rate | | 286 | Days Late |
| 365 | Term | | £94 | Acc Interest |
| £120 | Int Earned |
| | | £94
| Acc. Interest |
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| £25 | 2.5% Bonus Accrual |
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| £239 | Total Return |
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| 24% | % Return |
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Post by mike1963 on May 10, 2018 15:42:20 GMT
For what it's worth, I really hate this Thread Title and wish it was taken down.
I appreciate that they have their problems but surely this type of Thread serves no one.
I am not still invested in Lendy but still want them around so that when a decent loan comes up, I can get involved.
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star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
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Post by star dust on May 10, 2018 16:16:10 GMT
Mod Hat On/ It seems many forum members, as well as forum staff, have had more than enough of this thread, so we have decided to apply an anchor to it. People can still post to it, but it will gradually sink from view. Given that Lendy's is such a busy Board, I'm sure it won't be long before it falls off the first page.
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hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
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Post by hazellend on May 10, 2018 17:33:56 GMT
Can we please also merge any future similar threads into this one?
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on May 10, 2018 18:40:33 GMT
So someone wants to bury this thread? I wonder why ?
This is going in the same direction as the cowards at FC who scrapped their own in house forum as they could not and would not reply or answer valid investors questions and did not like the criticism they justifiably received.
The answer is not to attempt to hide this thread but just change the title to "Questions about Lendy"; that will do it.
Any action to manipulate this thread (as discussed by some above) is an obvious attempt to silence investors and strikes at the very purpose of this "Independent" forum and will amount to a shameful act of censorship.
We still have freedom of speech and expression in the UK. Agree or disagree - that is what my family fought and died for in 2 World Wars not for someone to pop up and stamp out genuine debate.
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Post by patright on May 10, 2018 18:46:06 GMT
So someone wants to bury this thread? I wonder why ?
This is going in the same direction as the cowards at FC who scrapped their own in house forum as they could not and would not reply or answer valid investors questions and did not like the criticism they justifiably received.
The answer is not to attempt to hide this thread but just change the title to "Questions about Lendy"; that will do it.
Any action to manipulate this thread (as discussed by some above) is an obvious attempt to silence investors and strikes at the very purpose of this "Independent" forum and will amount to a shameful act of censorship.
We still have freedom of speech and expression in the UK. Agree or disagree - that is what my family fought and died for in 2 World Wars not for someone to pop up and stamp out genuine debate. I am with you 100%, "forum staffs and members have had enough of this thread?" I have a hard believing this, if you are tired of this thread, don't visit nor read it but censor it under the ground of "having enough"...at the very least it's strange.
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Jeepers
Member of DD Central
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Post by Jeepers on May 10, 2018 18:52:17 GMT
Does this thread provide any benefit to anyone invested in Lendy ?
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on May 10, 2018 18:57:01 GMT
I have just noticed that someone has now manipulated this thread by adding a downward arrow which states "this thread is falling".
Do we now have a situation of hiding a thread because someone does not like the material - it is very similar to the ghastly episodes of air brushing people from photograph when they fell out of favour or were killed during a purge.
Who has carried out this action and who at the independent forum has sanctioned this unilateral action?
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Post by rb5286 on May 10, 2018 19:07:53 GMT
This isn't some middle-eastern country, or china, or russia. If it's a popular active thread then leave it be. If (as in any capitalist country) people lose interest, the law of the free market economy will ensure it disappears into page 2, 3, 4 ......
We're seeing fake reviews on 'Trust Pilot', so don't censor one of the few last bastions of open debate on p2p lending.
My 2 cents
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