izigor
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Post by izigor on Jan 14, 2019 16:21:23 GMT
I feel there's too much negativity towards Lendy in almost every thread. Sometimes I contribute to that too. However, I fear a few things, three of which are:
1. I fear that this skews the image of true circumstances. When everything is taken account of, things may or may not be as bad as this forum portrays.
2. A new investor or existing investor will find it very difficult, if not impossible, searching for things that are right or going right.
3. I also fear that there is a possibility of manipulation, such as some borrowers trying to fulfill their own agenda. Perhaps that, to sink Lendy for their own benefit at the expense of investors. In a way they try to stiffle any positivity towards Lendy. This could very well be just a conspiracy theory, but there's a possibility this is true.
So what I'm proposing is a thread to discuss more positively on things that are going or seems to be turning RIGHT with Lendy. I would even like Lendy (staff) to contribute here, a chance to engage with us, tell us what you've learnt and how you are/will address the lessons learnt.
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copacetic
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Post by copacetic on Jan 14, 2019 16:35:46 GMT
3. I also fear that there is a possibility of manipulation, such as some borrowers trying to fulfill their own agenda. Perhaps that, to sink Lendy for their own benefit at the expense of investors. There seems to be a concerted effort by some investors who post on this forum to sink Lendy despite being a passenger on their ship. Not sure what Darwin would make of that.
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izigor
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Post by izigor on Jan 14, 2019 16:36:32 GMT
For example, the amount of loans in the Secondary Market has dried up. I do realise that Lendy hasn't been taking on a lot of new loans but at the same time, a lot of us have claimed we have been taking money out of Lendy. So being able to achieve that is a 'plus', I believe, because this returns liquidity in the Secondary Market to some extent.
The five things that I fancied from Lendy, in order of priority, were:
1. Never lose capital / Good Realistic Valuation / Good Recovery Process
2. Very High Liquidity in Secondary Market (sells quickly)
3. Communication Communication Communication
4. No loans less than 12% (bad precedent for negotiations)
5. Availability of loans in Primary and Secondary Market.
I believe that there are efforts being put in by Lendy in a few of these, don't you think?
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Post by picanto on Jan 14, 2019 16:37:51 GMT
There have been four loan repayments since December (one of which is the largest repayment in Lendy's history) amounting to circa £18 Million which has gone a considerable way in liquidating the secondary market. I congratulate Lendy for that.
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izigor
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Post by izigor on Jan 14, 2019 16:42:41 GMT
TOTAL amount of loans on Secondary Market, checked around 16:40 today: £91,650
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Post by loftankerman on Jan 14, 2019 17:13:07 GMT
I believe that there are efforts being put in by Lendy in a few of these, don't you think? I believe they have told us they are putting the effort in. I await the evidence. To meet just reasonable customer requirements they are facing a high bar, but have so far appeared content to limbo dance under it.
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travolta
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Post by travolta on Jan 14, 2019 17:16:42 GMT
I always give them a good report on Trust Pilot when they come through...… 
…..and they are one of the few p2p sites that don't demand a mob phone ,which in my case I have not got on account of the terrain where I am. Cant get P2P who are too snotty to engage with money from landers. Seems they are too dynamic or thick to realise where money comes from.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 14, 2019 17:19:09 GMT
For example, the amount of loans in the Secondary Market has dried up. I do realise that Lendy hasn't been taking on a lot of new loans but at the same time, a lot of us have claimed we have been taking money out of Lendy. So being able to achieve that is a 'plus', I believe, because this returns liquidity in the Secondary Market to some extent. The five things that I fancied from Lendy, in order of priority, were: 1. Never lose capital / Good Realistic Valuation / Good Recovery Process 2. Very High Liquidity in Secondary Market (sells quickly) 3. Communication Communication Communication 4. No loans less than 12% (bad precedent for negotiations) 5. Availability of loans in Primary and Secondary Market. I believe that there are efforts being put in by Lendy in a few of these, don't you think? Historically Lendy and others have been slow to default loans or give meaningful updates. Those of us with substantial funds (£100K myself) can sometimes get a bit wound up. Some unjustifiably assume late mean loss. These folk like to self flagellate and spread negativity I have a more patient disposition. There are improvements and hopefully every increasing paybacks that would allow more fluidly in the SM. Unless the pool of available funds increases by those paybacks the PM and SM suffer. From above list only 1&3 are required to keep investors happy. From the investors side all that is required is DD,Diversification and most of all Patience
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captainconfident
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Post by captainconfident on Jan 14, 2019 17:30:34 GMT
I would like to congratulate all the posters in this thread so far, for honouring the spirit of the title. I would also add that I do think there is value in some of the loans still live and available on the SM. These are mainly partially de-risked projects as they have had substantial work completed.
I think this thread should adopt a yellow and red card system to penalise any future poster who may seek to sully the optimistic atmosphere. Go Lendy! Defeat the forces of evil and their ludicrous court cases! Improve your lender communication! Get me my money back! I still have residual love for you.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 14, 2019 18:21:50 GMT
I would like to congratulate all the posters in this thread so far, for honouring the spirit of the title. I would also add that I do think there is value in some of the loans still live and available on the SM. These are mainly partially de-risked projects as they have had substantial work completed. I think this thread should adopt a yellow and red card system to penalise any future poster who may seek to sully the optimistic atmosphere. Go Lendy! Defeat the forces of evil and their ludicrous court cases! Improve your lender communication! Get me my money back! I still have residual love for you. Don’t love them too much .. If you ever feel like a divorce they will take half (Scottish Law) or even more (English Law)
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zlb
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Post by zlb on Jan 14, 2019 19:35:40 GMT
3. I also fear that there is a possibility of manipulation, such as some borrowers trying to fulfill their own agenda. Perhaps that, to sink Lendy for their own benefit at the expense of investors. There seems to be a concerted effort by some investors who post on this forum to sink Lendy despite being a passenger on their ship. Not sure what Darwin would make of that. yes, I've commented on this, attempting to destroy them, without thinking through the consequences. I've also used the metaphor of people appearing to think that Fletcher Christian will appear from within our midst, to save everyone and offer an island paradise, when there isn't one, and that actually, there are a lot of problems in the society started by that particular mutineer.
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captainconfident
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Post by captainconfident on Jan 14, 2019 20:10:03 GMT
There seems to be a concerted effort by some investors who post on this forum to sink Lendy despite being a passenger on their ship. Not sure what Darwin would make of that. yes, I've commented on this, attempting to destroy them, without thinking through the consequences. I've also used the metaphor of people appearing to think that Fletcher Christian will appear from within our midst, to save everyone and offer an island paradise, when there isn't one, and that actually, there are a lot of problems in the society started by that particular mutineer. Yes indeed, history is very instructive here, as the ones who stuck with Captain Bligh in the lifeboat eventually all got home, “3600 nautical miles to safety in 41 days using only a sextant and a pocket watch.” This may be a most accurate allegory of waiting it out for the Lendy recovery process to complete. Except add a 0 or more to the number of days. Perhaps this could be re-enacted during Cowes Week?
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sarahcount
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Post by sarahcount on Jan 14, 2019 20:33:43 GMT
For example, the amount of loans in the Secondary Market has dried up. I do realise that Lendy hasn't been taking on a lot of new loans but at the same time, a lot of us have claimed we have been taking money out of Lendy. So being able to achieve that is a 'plus', I believe, because this returns liquidity in the Secondary Market to some extent. The five things that I fancied from Lendy, in order of priority, were: 1. Never lose capital / Good Realistic Valuation / Good Recovery Process 2. Very High Liquidity in Secondary Market (sells quickly) 3. Communication Communication Communication 4. No loans less than 12% (bad precedent for negotiations) 5. Availability of loans in Primary and Secondary Market. I believe that there are efforts being put in by Lendy in a few of these, don't you think? Are my eyes deceiving me? Is this thread a joke? On the points above; 1) There are many loans where capital has been lost but that Lendy have kept them open even after the loan security has been sold. The reliability of valuations has been questioned frequently. The whole concept of development loans being valued on a residual value basis which assumes the build will be finished being a case in point. Hard to say good recovery process when so many loans defaulted and very overdue. 2) Current liquidity in the secondary market is due to recent loan repayments and the fact that very many loans have been suspended from the SM and are not available to trade. 3) Communications on this site has stopped. By all accounts they take a long time to respond to direct enquiries. 4) There have been loans below 12%. The London loan's little sister went out at 9% and look where that got us. 5) Very few new loans now. Hardly any bridging loans and the few new releases are ongoing tranches of a limited number of development loans/. I want Lendy to succeed but, sorry.
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captainconfident
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Post by captainconfident on Jan 14, 2019 20:57:16 GMT
Peep! That's a yellow. Lack of positivity in that challenge, sarahcount. We are all well aware of the issues you raise here and they are explored ad infinitum in all the other threads on this board. |
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sarahcount
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Post by sarahcount on Jan 14, 2019 21:11:46 GMT
Peep! That's a yellow. Lack of positivity in that challenge, sarahcount . We are all well aware of the issues you raise here and they are explored ad infinitum in all the other threads on this board. My mistake! OK then,trying to be more positive. Lendy have said that they are going to make a concerted effort to resolve their distressed loans. Talk about a new harder hitting recoveries team. Let's hope so. It is true that they have also had many loans that have completed successfully and returned 12% to investors. The secondary market is a very useful facility and when it works it can allow investors to cash out. I've certainly used it to my benefit in the past when I've needed funds or if I have wanted to scale back a loan after a period of time. Reducing the number of new loans might just be a good strategy to allow them to focus on resolving the old ones. Maybe they are being more selective with what they bring forward. The website generally works well. Always nice to support Portsmouth. A northern town that just happens to be in the south as someone once said. Best I can do at the moment.
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