PBL 069; PBL 070 & PBL 071 - the Gloucestershire Loans

The generally accepted rule on these boards is to expect 8% after losses, although losses are expected to be cyclical.  At the moment many have earned the 12% without any losses - the good times.  I have made 12% in the high interest loans-no loses    On the SME sites(where I am withdrawing from), I have made around the 8% mark in benign times! Not great.   Overall over 10%.

It all depends on age, level of risk, can you afford to lose funds, have funds tied up etc etc, to what risk reward strategy you employ,  I'm in my 30's, don't need the funds, mortgage nearly paid etc, so am prepared to go high risk.  Although I want to diversify into equities, just wished they were cheaper.

The 12% sale persuaded me to increase 60% as a temporary holding position, still >25% off my peak as I diversified away on the outlook of SS loan book.

Now on the defaulted page.

Came across this article from Mar 8  in the W****G****S******* may have been mentioned before but makes interesting reading.



Last week, the SNJ reported that M* and M** ******* had both been declared bankrupt and had together registered 78 different companies at The *******, most of which have either been dissolved or liquidated.



M* ******* was declared bankrupt in the UK in September 2014, and the Insolvency Services are currently investigating allegations that he breached the bankruptcy order through his involvement in companies related to The *******.


Bit of a hole in the DD there, but when lending of course only the security matters!!

"Appointment Of Receiver" @ one of the two borrowers companies has been registered at CH (although, they were actually appointed on 19 September 2016). Still waiting for the same submission for the other company

I would not, Lendy  is high risk investment at the best of times, the LTV valuation is always very hit and miss anyway, it is a valuation of a what would happen on a perfect day,  not what would happen when you need to sell. If it has to go through the courts the costs will add up rather quick.

The loan already is overdue and interest is already owed so why bother investing in a loan that is overdue when there are plenty of new loans on  lendy and similar sites to invest in.

@ Ozboy

I appreciate that valuations can vary significantly. Typically if a valuation is within a bracket of +/-10% of true value then the valuer is deemed not to be negligent.

With the Glos props however, they were valued at £5.6m and are now marketed @ £4 million (nb a mortgagee in possesion has a legal duty to achieve best sale price). Thus this points to a massive overvaluation of 40% (1.6/4.0).

Even allowing a 10% leeway on sale price, if fair value was say £4.4 million then they were still overvalued by an excessively large 27% (1.2/4.4).

Nb the above fag packet calcs ignore the fact that property values have also risen over the past year, so the overvaluation %ge could be even higher.

I suppose I'm hoping that LL/SS will note this post and my earlier posting on the same subject and seek to recover any loss/shortfall incurred by claiming against the Surveyor's PI insurance. They should immediately certainly serve notice on the Surveyor to this effect (just in case annuall PI is about to expire). LL/SS should also seriously review using this firm on all future valuation work.