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Post by dualinvestor on Sept 11, 2016 13:18:21 GMT
. And if SS have £1.7M of working capital sitting around spare that they can use without opportunity costs.The last financial data that is available are for a period when Lendy Ltd was operating on quite a different business model, acting as principal to lenders and borrowers, and are made up to 31 December 2014. With the passage of time and change to being agent on nearly all loans except those made under the old terms and conditions it is impossible to hazard a guess what the balance looks like now. Consequently we have no idea of whether they have cash amounting to £1.7million lying around. Based on the declared policy of them taking 0.5% per month and the lenders getting 1% and the latest imterest email stating that investors have been paid £11.7million it would appear that there gross interest income since they started trading is just under £6million, from this sum they would have to pay all expenses and tax, although they may also have other income strands (arrangement fees, penalty interest, capital gains from equity stakes etc). There may be £1.7million left or may not, we simply don't know, even if there were it might not be "available" as they will have to reserve some balance to pay ongoing expenses. You are correct if it is there intention t pay interest they could save by repaying the capital now, but I suspect there are far more complicated matters that require sorting out before they come to any decision.
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moist
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Post by moist on Sept 11, 2016 16:05:07 GMT
Its one of the risks of P2P investment, if 56/64 goes bad as well........platform failure needs to be considered.
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stokeloans
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Post by stokeloans on Sept 12, 2016 16:34:52 GMT
Its one of the risks of P2P investment, if 56/64 goes bad as well........platform failure needs to be considered. You're a glass half empty person I see
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Jeepers
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Post by Jeepers on Sept 12, 2016 19:08:24 GMT
Its one of the risks of P2P investment, if 56/64 goes bad as well........platform failure needs to be considered. [br Why? The PF is discretionary so the participants in the loan would lose out... It wouldn't cause the platform to fail.
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Post by GSV3MIaC on Sept 12, 2016 19:25:05 GMT
/mod hat off
It'd probably cause a bit of a 'run on the bank' though - see the panic on this one, when the red box first appeared. One day it will become apparent, perhaps, that 12% risk/default free is not achievable in the long term, and that is bound to surprise some of the punters. In order to survive platforms need a stream of business, so anything which disrupts that (like loss of trust) is a big issue.
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Post by martin44 on Sept 12, 2016 20:25:30 GMT
And SS certainly do not help with the content of some of their updates.  edit.. or non-content as the case may be. |
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moist
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Post by moist on Sept 13, 2016 11:48:19 GMT
Its one of the risks of P2P investment, if 56/64 goes bad as well........platform failure needs to be considered. You're a glass half empty person I see just hoping my comments might put few juicy bits on the sm.....lol
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jonah
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Post by jonah on Sept 16, 2016 5:17:47 GMT
On the use of PF for capital or interest repayment, remember that some of it is 'from' this loan. £30400 if my pre coffee maths is correct.
So in the scenario of the sale happening to get exactly enough for 100% of capital and relevant administration fees covered, I would hope that that slice of PF would go to the holders of this loan.
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Post by dualinvestor on Sept 16, 2016 5:35:45 GMT
On the use of PF for capital or interest repayment, remember that some of it is 'from' this loan. £30400 if my pre coffee maths is correct. So in the scenario of the sale happening to get exactly enough for 100% of capital and relevant administration fees covered, I would hope that that slice of PF would go to the holders of this loan. As the garden centre was offered for £200,000 less than the £1.7million of the platform loan it is highly unlikely that it will recover anything like 100% of it after costs. BTW it's contribution to the PF was £34,000.
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jonah
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Post by jonah on Sept 16, 2016 18:59:33 GMT
On the use of PF for capital or interest repayment, remember that some of it is 'from' this loan. £30400 if my pre coffee maths is correct. So in the scenario of the sale happening to get exactly enough for 100% of capital and relevant administration fees covered, I would hope that that slice of PF would go to the holders of this loan. As the garden centre was offered for £200,000 less than the £1.7million of the platform loan it is highly unlikely that it will recover anything like 100% of it after costs. BTW it's contribution to the PF was £34,000. That's why I should have more coffee.
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james
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Post by james on Sept 18, 2016 16:26:41 GMT
most (all?) other platforms would have suspended it, if it turns out that lenders do not receive full return of capital. Bondora is one that allows trading both after default and after insolvency. Depending on payment history and other facts they can initially trade at a small percentage point premium or more normally at usually substantial discounts. In essence it's a purchase of anticipated recovered amounts with possible tax benefits since the repayments go towards capital first and sellers can be unduly pessimistic about how much may be recovered, hence selling at a too-low price. An insolvent borrower sometimes does make payments, I've seen it in my UK Zopa loan book. But this is very different from par as the only acceptable price as here.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Sept 24, 2016 19:58:57 GMT
The "Sale Agreed" on the website selling the garden centre has now disappeared  |
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Liz
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Post by Liz on Sept 24, 2016 20:34:54 GMT
The "Sale Agreed" on the website selling the garden centre has now disappeared     Let's hope savingstream can update us soon.
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ablender
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Post by ablender on Sept 27, 2016 15:32:48 GMT
The "Sale Agreed" on the website selling the garden centre has now disappeared Let's hope savingstream can update us soon. : S U S P E N S E 
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Forward
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Post by Forward on Sept 30, 2016 15:06:14 GMT
These two are keen
30/09/2016 c*********s £19,800.00
30/09/2016 m**************l £19,700.00
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