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Post by valueinvestor123 on Feb 10, 2021 14:19:21 GMT
Does Lendy's website still updates wrt loan information/balance values? (I know they are worthless).
Just that after a repayment, my balance doesn't seem to change and after a loan repayment comes in (whenever that happens), the loan parts are still all seem to be in "My Loans" section.
I am trying to work out how to keep better track of loans remaining and have a better understanding of what I am still holding (if anything).
Thanks
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Post by Ace on Feb 10, 2021 16:13:40 GMT
Does Lendy's website still updates wrt loan information/balance values? (I know they are worthless). Just that after a repayment, my balance doesn't seem to change and after a loan repayment comes in (whenever that happens), the loan parts are still all seem to be in "My Loans" section. I am trying to work out how to keep better track of loans remaining and have a better understanding of what I am still holding (if anything). Thanks My balance update when payments are made.
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adrianc
Member of DD Central
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Post by adrianc on Feb 10, 2021 16:59:26 GMT
Scary number there, VI... I suspect that image'll get removed for borrower info, however, unless you redact the loan title a bit. That "My Loans" line definitely updated for me yesterday - I had a nice round number held, now I have 96.5% of it. Look also at the "Partial Repayments" tab of the loan page. lendy.co.uk/loans/380#partial-repayments |
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Post by Ace on Feb 10, 2021 17:01:42 GMT
This is strange. Yesterday DFL019 was repaid yet my balance hasn't changed to reflect and all the loan parts are still in the "My Loans" section. On my account, t he amount invested in this loan reduced by the value of the payout.
EDIT: Crossed with adrianc.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 10, 2021 17:09:33 GMT
This is strange. Yesterday DFL019 was repaid yet my balance hasn't changed to reflect and all the loan parts are still in the "My Loans" section. DFL019 wasn't repaid, a partial repayment was made via the creation of a sub loan DFL019R1. DFL019 continues but with a reduced capital element, so each loan part will remain but 3.5% smaller (effectively new loan parts are created to facilitate repayments) interest, bonus would remain unchanged. This is how repayments have always been handled
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Post by valueinvestor123 on Feb 10, 2021 17:19:05 GMT
Scary number there, VI... I suspect that image'll get removed for borrower info, however, unless you redact the loan title a bit. Ha! That ain't nothing yet...    "That "My Loans" line definitely updated for me yesterday - I had a nice round number held, now I have 96.5% of it. Look also at the "Partial Repayments" tab of the loan page. lendy.co.uk/loans/380#partial-repayments" What I meant was that my overall balance hasn't changed. I had about 140k altogether before repayment (from memory), and about the same after I received the £700 squids or so. I would expect it to reduce by about 20k after the payment. I am just trying to understand how much I have actually left, if they don't update the numbers to reflect returns properly.
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Post by Ace on Feb 10, 2021 18:46:07 GMT
Scary number there, VI... I suspect that image'll get removed for borrower info, however, unless you redact the loan title a bit. Ha! That ain't nothing yet... "That "My Loans" line definitely updated for me yesterday - I had a nice round number held, now I have 96.5% of it. Look also at the "Partial Repayments" tab of the loan page. lendy.co.uk/loans/380#partial-repayments" What I meant was that my overall balance hasn't changed. I had about 140k altogether before repayment (from memory), and about the same after I received the £700 squids or so. I would expect it to reduce by about 20k after the payment. I am just trying to understand how much I have actually left, if they don't update the numbers to reflect returns properly. The total balance only reduced by the amount you've been repaid. None of the remaining balance has been written off yet.
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Post by valueinvestor123 on Feb 10, 2021 18:49:24 GMT
The total balance only reduced by the amount you've been repaid. None of the remaining balance has been written off yet. Oh  . So that means there is probably a lot less than this. When will they write loans off that have been repaid? Or: how can I work out my balance, minus the loans that have been repaid so far?
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Post by Ace on Feb 10, 2021 19:02:01 GMT
The total balance only reduced by the amount you've been repaid. None of the remaining balance has been written off yet. Oh . So that means there is probably a lot less than this. When will they write loans off that have been repaid? Or: how can I work out my balance, minus the loans that have been repaid so far? It was classed as an "interim distribution". I doubt they'll recover any more from this one that isn't totally consumed by admin fees, but the administrator will want to milk it as much as they can before writing off our loss. I'm not sure how to work out one's "real" balance. I'm lucky enough to only have a 2 figure sum left, so not worth the effort for me, though I sympathise greatly with those that have significant sums.
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Post by valueinvestor123 on Feb 10, 2021 19:55:56 GMT
Oh . So that means there is probably a lot less than this. When will they write loans off that have been repaid? Or: how can I work out my balance, minus the loans that have been repaid so far? It was classed as an "interim distribution". I doubt they'll recover any more from this one that isn't totally consumer by admin fees, but the administrator will want to milk it as much as they can before writing off our loss. I'm not sure how to work out ones "real" balance. I'm lucky enough to only have a 2 figure sum left, so not worth the effort for me, though I sympathise greatly with those that have significant sums. Well, I wanted to put some kind of guesstimation of recovery, to have some sort of idea of potential losses. Basically if I recovered 63% of the current balance left (this will never happen!), i would break even with Lendy. However, I "only" need to recover 20% in Lendy to break even with all the peer2peer crappiness (but depends on some of the other platforms). Still might not happen. It's bad. But could have been a lot worse too.
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adrianc
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Post by adrianc on Feb 10, 2021 22:05:34 GMT
I went through all my outstanding loans yesterday - anything where the security's been sold, I put down to zero in my spreadsheets.
My "balance" is just over half what it was yesterday morning... I'm still in the black on the whole saga. Just. It won't last...
As for when... They haven't written off the remainder of the Shropshire shed, or the Welsh castle, or the Leatherhead house. And they were sold just about exactly three years ago.
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Post by valueinvestor123 on Feb 11, 2021 10:47:23 GMT
I went through all my outstanding loans yesterday - anything where the security's been sold, I put down to zero in my spreadsheets. My "balance" is just over half what it was yesterday morning... I'm still in the black on the whole saga. Just. It won't last... As for when... They haven't written off the remainder of the Shropshire shed, or the Welsh castle, or the Leatherhead house. And they were sold just about exactly three years ago. I have just done this also with Lendy (written off any loans that have been paid but not written off by Lendy) and the balance reduced by 65k, from 140k. So about half is good rough guide I guess...Of that, what do you estimate recovery might be? 10%? 1%? The good news is that at least I know I don't have as much as I thought with Lendy anymore  The bad news...that's everything else. Does anyone know how other platforms are doing it? (In terms of whether they write the loan balances to 0 when loans are repaid or hold out for a possible 1p in the future). The big ones with chunky amounts I have left are FundingSecure and Assetz Capital. It seems unrealistic not to adjust it; otherwise it really skews everything.
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adrianc
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Post by adrianc on Feb 11, 2021 13:45:59 GMT
I went through all my outstanding loans yesterday - anything where the security's been sold, I put down to zero in my spreadsheets. My "balance" is just over half what it was yesterday morning... I'm still in the black on the whole saga. Just. It won't last... As for when... They haven't written off the remainder of the Shropshire shed, or the Welsh castle, or the Leatherhead house. And they were sold just about exactly three years ago. I have just done this also with Lendy (written off any loans that have been paid but not written off by Lendy) and the balance reduced by 65k, from 140k. So about half is good rough guide I guess...Of that, what do you estimate recovery might be? 10%? 1%? It's simply impossible to say. Some of them have been sold but not credited yet. Some of them are still for sale.
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Post by valueinvestor123 on Feb 11, 2021 14:51:15 GMT
How do you guys(girls?) know which ones have been sold? (and for how much)
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 11, 2021 15:25:36 GMT
How do you guys(girls?) know which ones have been sold? (and for how much) Same as ever. People doing due dil. A lot of information posted on LAG FB.
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. So that means there is probably a lot less than this. When will they write loans off that have been repaid? Or: how can I work out my balance, minus the loans that have been repaid so far?
The bad news...that's everything else.