mrsb
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Post by mrsb on Feb 12, 2019 19:55:05 GMT
Any one got a clue on Evesham .... should have repaid on 11th .... put back to end of Feb on portal .... not a peep from Relendex.
Whilst this is 'business as usual' - it's still breath-taking-ly poor behavior from them.
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hantsowl
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Post by hantsowl on Feb 13, 2019 10:59:07 GMT
Any one got a clue on Evesham .... should have repaid on 11th .... put back to end of Feb on portal .... not a peep from Relendex. Whilst this is 'business as usual' - it's still breath-taking-ly poor behavior from them. Notify pennyrelendex for comment.
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Post by pennyrelendex on Feb 18, 2019 10:27:54 GMT
Hi Both,
A lender update is due out today.
Unfortunately, borrowers do not always meet their timelines for refinancing loans. They should give us ample notice of any delay, but this does not always happen.
Relendex passes on all relevant information as soon as we receive it, but often borrowers awaiting refinance offers or completion of sales are uncertain as to timing, and we cannot give updates based on promises only to disappoint our lenders if the borrower lets us down.
Please be assured that even when we have nothing to communicate we place the utmost importance on working with borrowers to ensure that your capital is returned intact and interest due to you is paid.
As always Our Lender Support team are available to discuss any of our Loans directly lender-support@relendex.com
- Penny
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mrsb
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Post by mrsb on Feb 18, 2019 15:05:11 GMT
Well - we clearly differ on the circumstances that give rise to "nothing to communicate".
In my world, a loan not repaying is situation that should trigger a 'communication'.
I see the parts have now become "not eligible".
Is it the case that Relendex sit on their hands until 23:59 on the agreed (!!) date of repayment - before making enquiry as to whether the loan will repay, and/or what the situation is with the source of repayment funds?
You are treating lenders very badly, and your posting today is a very feeble attempt to polish something that can never shine.
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Post by pogopatterson on Feb 19, 2019 6:55:31 GMT
Similarly I have had very little joy from lender support for a considerable while now. Victor needs to be given some support or sent on a training program. As it stands, it is pretty dire.
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Nomad
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Post by Nomad on Feb 19, 2019 7:56:14 GMT
Similarly I have had very little joy from lender support for a considerable while now. Victor needs to be given some support or sent on a training program. As it stands, it is pretty dire. At one point I had 50K with Relendex but I never felt entirely comfortable with them, due to very patchy communication. On the plus side though, I incurred no losses!
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mrsb
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Post by mrsb on Feb 19, 2019 9:52:15 GMT
No losses? Have GMBL lenders had all their money back, or see any certainty in it coming good? (in less than 1/4 of a lifetime)
If Penny would come here and state the extent of any Relendex losses, plus currently impaired loans - and perhaps the value of all current loans not adhering to terms applicable at draw-down, with percentages in respect of total loan book.
Of course it does seem to be a 'good' platform, where they clearly to work carefully in lenders interests. But once a loan is advanced, we are at the mercy of what then happens and/or things not discovered prior. There's always no losses up to the point where there is a loss.
Clearly the notion of 'no news is good news' has been long ago squandered by Relendex.
I have far too much in Relendex, but can't find another home for it that I like any better. So grin and bear it, but keep bitching in the hope news-flow improves. That is failing so far ... e.g. Penny's promise (above) of an Evesham update yesterday has yet to reach my inbox!
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Nomad
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Post by Nomad on Feb 19, 2019 10:00:32 GMT
No losses? Have GMBL lenders had all their money back, or see any certainty in it coming good? (in less than 1/4 of a lifetime) Sorry, I have edited my post to say "I incurred no losses"!
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Post by pennyrelendex on Feb 19, 2019 18:00:22 GMT
Hi All,
We apologise for the delay in getting the Evesham update out, you will find this has now been sent.
Any questions regarding the recent update, please reply directly to the email and a member of Lender Support will be able to assist.
Thanks, Penny
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mrsb
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Post by mrsb on Feb 20, 2019 9:09:41 GMT
Penny,
Thank you for the update.
Please would you state the date upon which Relendex became aware of the non-repayment of Evesham.
Please would you also say what the total value is of Relendex loans that are now extended, or extension pending, due to the failure of re-financing and/or other problems.
Also what percentage of the total current book they represent.
Not all your loans have slack LTVs, and as we know, all (even the better) LTVs are possibly (!) skewed by wild valuations - GMBL being a prime example.
These are nervous times, what with Brexit and everything. A way to retain and promote confidence is to abandon the current no/little/slow news strategy.
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mrsb
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Post by mrsb on Oct 19, 2019 11:14:40 GMT
Oh - did I dream it, or was an update posted on this tread, and now been removed?
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tjtl
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Post by tjtl on Oct 22, 2019 16:02:34 GMT
I posted an update, which was then deleted as it contained information which was private (i.e. was in an email addressed to loanees on Evesham- and someone took the understandable view that that should not be shared ). No firm numbers given, but I am expecting to incur my first loss on the Relendex platform on this loan- and it is , by some way, my biggest loan on the platform so could be painful. To be fair to Relendex their updates are becoming more frequent than they were, and I appreciate they need to keep some information confidential- I do however think they could provide more information on all the loans - I have an exposure to 20 loans (although Evesham accounts for nearly 40% by value)- and a simple summary on the website would be blooming useful. Hope I am wrong on the loss on this- with luck Relendex will minimise the pain (and again to be fair to them they seem determined to get the best outcome for those who are exposed).
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Post by gramsky on Oct 23, 2019 11:08:43 GMT
I posted an update, which was then deleted as it contained information which was private (i.e. was in an email addressed to loanees on Evesham- and someone took the understandable view that that should not be shared ). No firm numbers given, but I am expecting to incur my first loss on the Relendex platform on this loan- and it is , by some way, my biggest loan on the platform so could be painful. To be fair to Relendex their updates are becoming more frequent than they were, and I appreciate they need to keep some information confidential- I do however think they could provide more information on all the loans - I have an exposure to 20 loans (although Evesham accounts for nearly 40% by value)- and a simple summary on the website would be blooming useful. Hope I am wrong on the loss on this- with luck Relendex will minimise the pain (and again to be fair to them they seem determined to get the best outcome for those who are exposed). Was the email from Relendex or someone else? I have not received anything.
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tjtl
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Post by tjtl on Oct 23, 2019 12:39:06 GMT
It was from Relendex re Evesham
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Post by gramsky on Oct 23, 2019 12:48:27 GMT
It was from Relendex re Evesham Last emails I got were on 14 & 22 August. Have you had a later one?
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