sl75
Posts: 2,092 
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Post by sl75 on Feb 1, 2019 17:08:04 GMT
This loan has now been repaid.... No it hasn't!
At best, it is in the process of being repaid (e.g. money currently held by solicitors and on its way), but until the money is credited to lenders, it has NOT been repaid!
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11025
Member of DD Central
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Post by 11025 on Feb 1, 2019 17:14:32 GMT
This loan has now been repaid.... No it hasn't!
At best, it is in the process of being repaid (e.g. money currently held by solicitors and on its way), but until the money is credited to lenders, it has NOT been repaid!
Don't shoot the messenger , cut from Lendy's latest update ! (They are probably sitting on the money over the weekend)
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Post by Badly Drawn Stickman on Feb 1, 2019 17:46:44 GMT
No it hasn't!
At best, it is in the process of being repaid (e.g. money currently held by solicitors and on its way), but until the money is credited to lenders, it has NOT been repaid!
Don't shoot the messenger , cut from Lendy's latest update ! (They are probably sitting on the money over the weekend) I suppose it will take a while, given all the accrued interest and bonus interest to be correctly calculated. Or be successfully explained away depending how things have gone.
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zlb
Member of DD Central
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Post by zlb on Feb 4, 2019 20:53:11 GMT
I got the repayment but not the email to tell me. It's only listed as partially repaid. They will be publishing a breakdown on 4th feb 19.
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Post by wanderer on Feb 5, 2019 9:07:46 GMT
I got the repayment but not the email to tell me. It's only listed as partially repaid. They will be publishing a breakdown on 4th feb 19. still no sign of the breakdown? I also received partial (very partial) repayment, anyone know why the security reduction is listed as £1.85M, isn't that the entire value of the property??
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Post by picanto on Feb 5, 2019 10:01:22 GMT
I got the repayment but not the email to tell me. It's only listed as partially repaid. They will be publishing a breakdown on 4th feb 19. still no sign of the breakdown? I also received partial (very partial) repayment, anyone know why the security reduction is listed as £1.85M, isn't that the entire value of the property?? Lendy aren't the best at keeping to deadlines and delays happen very often, I'm sure their breakdown will come sometime this week. The sales value exceeds the loan value so I think the capital will be fully recovered at least.
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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
Posts: 11,330
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Post by ilmoro on Feb 5, 2019 10:02:01 GMT
I got the repayment but not the email to tell me. It's only listed as partially repaid. They will be publishing a breakdown on 4th feb 19. still no sign of the breakdown? I also received partial (very partial) repayment, anyone know why the security reduction is listed as £1.85M, isn't that the entire value of the property?? Because they've sold the property in its entirety? Did you get accrued interest paid?
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Post by Badly Drawn Stickman on Feb 5, 2019 10:14:09 GMT
still no sign of the breakdown? I also received partial (very partial) repayment, anyone know why the security reduction is listed as £1.85M, isn't that the entire value of the property?? Because they've sold the property in its entirety? Did you get accrued interest paid? To date a partial repayment of less than 1/3 rd of capital has been repaid, nothing more. I await further information from Lendy as to what the position is before deciding if happy or sad is the correct response.
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zlb
Member of DD Central
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Post by zlb on Feb 5, 2019 12:38:13 GMT
31% capital repaid. No interest.
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Post by nitpicker on Feb 5, 2019 14:08:24 GMT
Their true anchors.
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dApps
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Post by dApps on Feb 5, 2019 14:18:30 GMT
From someone with a handle of 'nitpicker', it's hard to resist 
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on Feb 5, 2019 17:22:14 GMT
Communication about this being the start of the repayment received, is clear, reasonably intelligent-sounding, assertive (i.e. states things clearly whilst acknowledging not ideal, not in legal-blather) that it's not ideal.
Made clear statement of next steps, and what is underway now.
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sl75
Posts: 2,092
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Post by sl75 on Feb 5, 2019 17:26:50 GMT
So their update on 1 Feb was an outright lie - the loan had not been repaid then, is not repaid now, and (failing some miracle) will not be repaid for at least several months.
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Post by Badly Drawn Stickman on Feb 5, 2019 17:53:36 GMT
So their update on 1 Feb was an outright lie - the loan had not been repaid then, is not repaid now, and (failing some miracle) will not be repaid for at least several months. It does however still have a faint pulse, I take that as more positive than negative. At least some return has been made and can be put to work, there is a decent chance of more at some point. I would be happy with that position on quite a few other loans at this time.
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Feb 5, 2019 18:04:41 GMT
So their update on 1 Feb was an outright lie - the loan had not been repaid then, is not repaid now, and (failing some miracle) will not be repaid for at least several months. It does however still have a faint pulse, I take that as more positive than negative. At least some return has been made and can be put to work, there is a decent chance of more at some point. I would be happy with that position on quite a few other loans at this time. My main point wasn't about the loan status, but that Lendy had knowingly provided false information in their previous update for this loan.
"This loan has been repaid" - false at the time it was written, false now (it has only been partially repaid), and expected to be false for at least a few months.
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