Nomad
Member of DD Central
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Post by Nomad on Aug 21, 2018 16:04:07 GMT
Now 53 days "out of term/in breach".
July 16 - expecting valuation within 2 weeks
Latest update, Aug 9 - "We haven't yet received the updated valuation report. The team are chasing on this daily."
Grrr!
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Aug 21, 2018 16:26:21 GMT
Now 53 days "out of term/in breach". July 16 - expecting valuation within 2 weeks Latest update, Aug 9 - "We haven't yet received the updated valuation report. The team are chasing on this daily." Grrr! Progress today - "The valuation report was received this afternoon and the reset can now move to underwriting."
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Aug 23, 2018 23:13:41 GMT
I just checked and I'm not in that loan so I don't know the details, but so far, for me, Lendinvest have a fantastic track record of enforcing in breach loans. I have a 100% recovery. I stopped re-investing when LI became Sophisticated Investors only and moved away from P2P and abandoned the FCA application. I decided I don't understand the structure and so I have stepped away, and I am not prepared to invest directly in the Montello fund (Euro 100k minimum) but for me their recoveries have been the most impressive of my platforms I can observe - four to go, no sleep lost.
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Post by carol167 on Aug 24, 2018 15:51:08 GMT
I just checked and I'm not in that loan so I don't know the details, but so far, for me, Lendinvest have a fantastic track record of enforcing in breach loans. I have a 100% recovery. I stopped re-investing when LI became Sophisticated Investors only and moved away from P2P and abandoned the FCA application. I decided I don't understand the structure and so I have stepped away, and I am not prepared to invest directly in the Montello fund (Euro 100k minimum) but for me their recoveries have been the most impressive of my platforms I can observe - four to go, no sleep lost. Secounded. I am doing the same. 7 loans still to go, £800 in total left from circa 20k.
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Aug 24, 2018 15:59:33 GMT
July factsheet released today - 21% of loans "out of term".
They also state "Due to a change in scope of the FSCS, we are happy to inform you that the majority of our investors are now covered by the Scheme. LendInvest will prepare an official statement and provide further information on this in the coming weeks."
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Sept 21, 2018 13:26:34 GMT
Now 53 days "out of term/in breach". July 16 - expecting valuation within 2 weeks Latest update, Aug 9 - "We haven't yet received the updated valuation report. The team are chasing on this daily." Grrr! Valuation report finally arrived, now have been awaiting answers to queries on the report since Sep 7. Now just a week shy of 3 months since repayment was due....
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Oct 5, 2018 18:39:15 GMT
£20,000,000 valuation on a piece of agricultural land with no planning permission must include a lot of "Hope" value. Previous applications have been refused and failed on appeal. LI will not publish the VR so we do not know what caveats Savilles may have included. LI do say that the valuation is based on the current planning status (ie nothing granted but the land is zoned for housing in the local plan). I also have a lot of hope invested in this project.
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Post by bargeboy on Oct 11, 2018 10:34:58 GMT
Lastest update was 7th September, 5 weeks ago!
"Our underwriting team have raised several questions in relation to the valuation report. These questions have been communicated to the valuer and we are waiting a response before the reset can progress".
Nothing since. How long are they going tp give the Valuers to come up with their answers? Pretty poor showing by LendInvest. Keeping investors in the dark is not acceptable.
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Oct 22, 2018 7:13:55 GMT
Lastest update was 7th September, 5 weeks ago! "Our underwriting team have raised several questions in relation to the valuation report. These questions have been communicated to the valuer and we are waiting a response before the reset can progress".Nothing since. How long are they going tp give the Valuers to come up with their answers? Pretty poor showing by LendInvest. Keeping investors in the dark is not acceptable. Two months since valuation report was received; loan now almost 4 months overdue lendinvest.
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Nov 5, 2018 15:31:37 GMT
Lastest update was 7th September, 5 weeks ago! "Our underwriting team have raised several questions in relation to the valuation report. These questions have been communicated to the valuer and we are waiting a response before the reset can progress".Nothing since. How long are they going tp give the Valuers to come up with their answers? Pretty poor showing by LendInvest. Keeping investors in the dark is not acceptable. Two months since valuation report was received; loan now almost 4 months overdue lendinvest . And now 2 months since "Our underwriting team have raised several questions in relation to the valuation report."...
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Nov 7, 2018 13:27:24 GMT
Hooray, repaid!!
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Post by oppsididitagain on Nov 7, 2018 17:31:29 GMT
will you be investing in the new tranche ? Good RoR for the LTV, as most recent loans on this platform are 5-6.5% for 75% LTV
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on Nov 8, 2018 8:20:51 GMT
will you be investing in the new tranche ? Good RoR for the LTV, as most recent loans on this platform are 5-6.5% for 75% LTV I withdrew the funds immediately as I am reducing property lending, as well as reducing the number of platforms I utilise.
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