Steerpike
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Post by Steerpike on Apr 14, 2023 15:25:00 GMT
I have been investing with LI for nearly 9 years and so far every loan has repaid both capital and interest in full.
However, LI have just appointed receivers on a long overdue £8m loan in Ilford, it will be interesting to see how this one goes.
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benaj
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Post by benaj on Apr 14, 2023 16:41:14 GMT
I have an overdue loan (in enforcement), 36 months+ overdue. So far, LI has done a good job recovering the interest and capital.
The other Ilford loan (out of term)of 4.5m mil was repaid.
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ukinvestor
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Post by ukinvestor on Apr 27, 2023 22:29:38 GMT
I have been investing with LI for nearly 9 years and so far every loan has repaid both capital and interest in full. However, LI have just appointed receivers on a long overdue £8m loan in Ilford, it will be interesting to see how this one goes. It is high time LI gets a bit more assertive. Some of the borrowers are taking liberties in my opinion (e.g. the Eastbourne loan). I don't consider extending loans multiple times appropriate. If at all, it should be listed as a new loan like on Proplend.
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Steerpike
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Post by Steerpike on Jun 1, 2023 13:56:12 GMT
I have been investing with LI for nearly 9 years and so far every loan has repaid both capital and interest in full. However, LI have just appointed receivers on a long overdue £8m loan in Ilford, it will be interesting to see how this one goes. Going downhill fast, original LTV was 62.12%. 13 Apr 2023 As investors are aware, we were considering receivership in this instance and were in discussion with several parties regarding this. Unfortunately, we have decided to appoint receivers in this instance following the exhaustion of alternative options and an official appointment is expected shortly. We do expect to see all of the investors capital returned from this process and will ensure regular updates are made available regarding this development.
31 May 2023 As investors are aware as a measure of last resort we have made the decision to appoint a receiver in this instance. Whilst we will endeavour to accrue the greatest return of investor capital possible through the enforcement processes, early receiver reports do indicate that the value of the security has fallen significantly and as such investors should expect a high likelihood of some degree of capital loss in this instance.
The down valuation is linked to the state of the property. We are currently exploring options and retrieving quotes to resolve the outstanding issues with the aim to uplift the valuation. We will continue to update investors on the progress of this.
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Post by baronhardup on Jun 7, 2023 16:22:13 GMT
Like you, I have been investing with LI for a long time and have only suffered a small capital loss that was more than adequately covered by the interest I received.
Now South Street, Salisbury has gone tits-up after only one repayment!!! How can that be? Where was the due diligence on the part of LI? Having suffered by Lendy and FundingSecure, I can't wondering if LI's standards are slipping.
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Steerpike
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Post by Steerpike on Jun 7, 2023 17:15:08 GMT
Lendinvest sold its £250 million BTL portfolio netting a £10 million loss a week ago.
LINV shares are down 55% in the last year.
Christian Faes co-founder is seeking better opportunities in LA.
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Post by scepticalinvestor on Jun 13, 2023 10:46:43 GMT
Lendinvest sold its £250 million BTL portfolio netting a £10 million loss a week ago. LINV shares are down 55% in the last year. Christian Faes co-founder is seeking better opportunities in LA. I didn't even know they're listed! So the founders/owners have cashed out and left the shareholders holding the bag. Doesn't bode well..... I've been reducing my exposure to LI since COVID but have still got a good chunk of funds in there. Hopefully I'll get out in time.
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benaj
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Post by benaj on Jun 13, 2023 11:52:53 GMT
Lendinvest sold its £250 million BTL portfolio netting a £10 million loss a week ago. LINV shares are down 55% in the last year. Christian Faes co-founder is seeking better opportunities in LA. I don't hold their bonds, but LIV3 6.5% Income is currently trading £101.20 (Year high 101.20 and year low 93.85). Hopefully, I will see most of my loans in green rather than red in the next 90 days.
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Steerpike
Member of DD Central
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Post by Steerpike on Jun 13, 2023 13:08:25 GMT
Lendinvest sold its £250 million BTL portfolio netting a £10 million loss a week ago. LINV shares are down 55% in the last year. Christian Faes co-founder is seeking better opportunities in LA. I didn't even know they're listed! So the founders/owners have cashed out and left the shareholders holding the bag. Doesn't bode well..... I've been reducing my exposure to LI since COVID but have still got a good chunk of funds in there. Hopefully I'll get out in time. As far as I know Ian Thomas the other co-founder is still fully engaged with Lendinvest.
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Steerpike
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Post by Steerpike on Jun 13, 2023 13:24:25 GMT
Lendinvest sold its £250 million BTL portfolio netting a £10 million loss a week ago. LINV shares are down 55% in the last year. Christian Faes co-founder is seeking better opportunities in LA. I don't hold their bonds, but LIV3 6.5% Income is currently trading £101.20 (Year high 101.20 and year low 93.85). Hopefully, I will see most of my loans in green rather than red in the next 90 days. There is a spread on the bond so £101.20 to buy but £98.50 to sell. The price may be somewhat inflated because the second interest payment is due on the 8th August, the first, in February, was paid two weeks late. They haven't issued a portfolio update this calendar year.
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ukinvestor
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Post by ukinvestor on Jun 13, 2023 16:51:28 GMT
Now South Street, Salisbury has gone tits-up after only one repayment!!! I don't see a South Street, Salisbury, loan on the LI website. What am I missing?
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Post by scepticalinvestor on Jun 14, 2023 9:01:02 GMT
Now South Street, Salisbury has gone tits-up after only one repayment!!! I don't see a South Street, Salisbury, loan on the LI website. What am I missing? If it's a fully subscribed loan a few weeks in the past then it won't show under 'Loans'. If you invested in it, then it should show in your portfolio.
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Steerpike
Member of DD Central
Posts: 1,977
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Post by Steerpike on Jun 14, 2023 14:04:52 GMT
I don't hold their bonds, but LIV3 6.5% Income is currently trading £101.20 (Year high 101.20 and year low 93.85). Hopefully, I will see most of my loans in green rather than red in the next 90 days. There is a spread on the bond so £101.20 to buy but £98.50 to sell. The price may be somewhat inflated because the second interest payment is due on the 8th August, the first, in February, was paid two weeks late. They haven't issued a portfolio update this calendar year. Lendinvest had forgotten to add the update to their website, but visible anyway at LSE.
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