SteveT
Member of DD Central
Posts: 6,875 
Likes: 7,924
|
Post by SteveT on Jul 20, 2018 11:20:57 GMT
A pointless poll given that option 3 isn't a real option. So what have all those option 3's actually voted? Option 2, presumably. It would be pretty pointless voting to accept the borrower's offer if you actually wanted Lendy to reject it and renegotiate!
|
|
|
|
Post by df on Jul 20, 2018 12:13:46 GMT
Having been lucky enough to exit Lendy over a year ago I am watching the Vote on this Loan with great interest. A Vote for Option 2 could just be the turning point where Borrower and Platform learn that they no longer have the whip hand and can lash Investors with it. I have also read the cogent arguments for Option 1 and they also make sense, but perhaps the Question is:- At what point do you take a stance? Nothing will ever change otherwise - obvs.  As far as I understand, Lendy isn't obliged to follow the result... I see voting for option 2 as a point making exercise and respect investors for doing this, but I personally not interested in teaching platforms and borrowers lessons. For me lending to never-ending multimillion building projects is a "financial product" that is no longer suitable for my needs. Selfish approach if you like, but I'd rather get something back sooner and reinvest elsewhere. I think I can achieve more by changing my own strategies than trying to change behaviour of platforms and borrowers.
|
|
11025
Member of DD Central
Posts: 740
Likes: 862
Member is Online
|
Post by 11025 on Jul 20, 2018 12:30:26 GMT
Maybe I have misunderstood the vote but after asking questions of Lendy Support , I got this reply regarding the 1st option:
"Lendy will be bringing additional claims to recover the balance of capital, accrued interest and bonus accrual to increase the return to investors which our legal advisors have confirmed have good prospects of success. I.e. further claims will be undertaken to recovery the outstanding balance"
Why isn't this explained correctly in the voting options ?
This vote should be postponed until correct and satisfactory information is passed on to lenders.
|
|
|
|
Post by charliebrown on Jul 20, 2018 12:42:33 GMT
Maybe I have misunderstood the vote but after asking questions of Lendy Support , I got this reply regarding the 1st option: "Lendy will be bringing additional claims to recover the balance of capital, accrued interest and bonus accrual to increase the return to investors which our legal advisors have confirmed have good prospects of success. I.e. further claims will be undertaken to recovery the outstanding balance" Why isn't this explained correctly in the voting options ? This vote should be postponed until correct and satisfactory information is passed on to lenders. This was discussed elsewhere, additional claims presumably means against the valuer or the surveyor. Don’t hold your breath, once the asset has been sold or turned over to the borrower I strongly suspect it’s game over.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jul 20, 2018 12:45:21 GMT
Maybe I have misunderstood the vote but after asking questions of Lendy Support , I got this reply regarding the 1st option: "Lendy will be bringing additional claims to recover the balance of capital, accrued interest and bonus accrual to increase the return to investors which our legal advisors have confirmed have good prospects of success. I.e. further claims will be undertaken to recovery the outstanding balance" Why isn't this explained correctly in the voting options ? This vote should be postponed until correct and satisfactory information is passed on to lenders. That is EXACTLY why this damned poll is ridiculous, lenders are not aware of the full facts and are voting blind! Stop this nonsense and start again! How the bloody hell do Lendy think they are going to continue to attract proper money when Lenders get the bloody mushroom treatment! I'm supposed to vote on how £40,000 of my money is treated when I'm not in possession of the facts? What sort of an idiot do you take me for, Lendy!? Ooh, now I'm pizzed! 
|
|
11025
Member of DD Central
Posts: 740
Likes: 862
Member is Online
|
Post by 11025 on Jul 20, 2018 12:45:33 GMT
Maybe I have misunderstood the vote but after asking questions of Lendy Support , I got this reply regarding the 1st option: "Lendy will be bringing additional claims to recover the balance of capital, accrued interest and bonus accrual to increase the return to investors which our legal advisors have confirmed have good prospects of success. I.e. further claims will be undertaken to recovery the outstanding balance" Why isn't this explained correctly in the voting options ? This vote should be postponed until correct and satisfactory information is passed on to lenders. This was discussed elsewhere, additional claims presumably means against the valuer or the surveyor. Don’t hold your breath, once the asset has been sold or turned over to the borrower I strongly suspect it’s game over. From the context of the full reply I had it would appear to mean against the borrower , if so you would hope they would have a charge for 3.3M against property till settled fully.
|
|
rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
|
Post by rocky1 on Jul 20, 2018 13:46:07 GMT
this is not a failed project hence the sharks hovering around waiting for a quick killing.i believe lendy are selling us out as they will come out smelling of roses[sh*t] whatever the outcome is.this is our security and our money do not waste this chance to put a stop to all this offer business.the ball is in our court and lendy and this p*ss taking borrower need to stop these games.this will set a precedent for all of these big DFLs.lendy and borrowers have had it their own way for far to long now.
|
|
