southport
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Post by southport on Aug 1, 2017 9:29:01 GMT
Unable to invest in any of the defaulted loans. Must be the 1st of August changes kicking in...
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pom
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Post by pom on Aug 1, 2017 10:11:12 GMT
Unable to invest in any of the defaulted loans. Must be the 1st of August changes kicking in... One wonders when the sellers will realise and cancel the sales....frankly I think Lendy should automatically cancel them as soon as they become ineligible.
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southport
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Post by southport on Aug 1, 2017 10:20:19 GMT
One wonders when the sellers will realise and cancel the sales....frankly I think Lendy should automatically cancel them as soon as they become ineligible. Although, if the borrower extends the loan, and the SM becomes active once more, they may still hold their position in the queue? (Assuming they still want to sell following an extension.) I think the email regarding the changes stated that purchasing parts in defaulted loans would be suspended temporarily? Can't find the email but that's how I remember it.
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pom
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Post by pom on Aug 1, 2017 13:01:19 GMT
One wonders when the sellers will realise and cancel the sales....frankly I think Lendy should automatically cancel them as soon as they become ineligible. Although, if the borrower extends the loan, and the SM becomes active once more, they may still hold their position in the queue? (Assuming they still want to sell following an extension.) Do we really expect anyone to extend once it goes beyond 180 days?! Let's face it they're all waiting on sales at that point - if it was going to be extended it'd have been much sooner.
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hantsowl
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Post by hantsowl on Aug 31, 2017 14:23:36 GMT
This was successfully sold at auction yesterday (or maybe it sold before the auction) - no idea what the final price was Paul64 / Lendy Support ? Take a look at this..... <link removed as it identifies the asset> This suggests that it sold for £400,000
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damar
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Post by damar on Sept 6, 2017 14:48:45 GMT
well that covers the principal, I don't know how much interest is outstanding
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Post by Deleted on Oct 2, 2017 10:15:31 GMT
Lendy's longest overdue default loan REPAID IN FULL along with bonus, interest to follow at the end of the month!!
With bag fulls of bad news floating around at the moment, a little good news is welcome.
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bfish
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Post by bfish on Oct 2, 2017 11:26:13 GMT
Lendy's longest overdue default loan REPAID IN FULL along with bonus, interest to follow at the end of the month!! With bag fulls of bad news floating around at the moment, a little good news is welcome. Sadly (while I DO appreciate return of capital, thank you Lendy!), in my case there is no sign of any bonus :-(
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mikes1531
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Post by mikes1531 on Oct 2, 2017 11:29:48 GMT
Lendy's longest overdue default loan REPAID IN FULL along with bonus, interest to follow at the end of the month!! Is there anyone here that can tell us what the bonus actually was? The table of Default loans shows the bonus to be 2.96%, which suggests the bonus is earned only for the first 180 days after maturity, whereas if this loan had continued to earn bonus interest it would have grown to about 7.5% because this loan was about 15 months past maturity. So what actually was paid?
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garfield
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Post by garfield on Oct 2, 2017 11:38:54 GMT
I calculate the bonus as 3% from my transaction log. 180 days max. £15 on a holding of £500. I must say it's a very welcome repayment!
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Post by da2279 on Oct 2, 2017 11:42:44 GMT
I received 3% bonus also
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mary
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Post by mary on Oct 2, 2017 11:43:36 GMT
Lendy's longest overdue default loan REPAID IN FULL along with bonus, interest to follow at the end of the month!! Is there anyone here that can tell us what the bonus actually was? The table of Default loans shows the bonus to be 2.96%, which suggests the bonus is earned only for the first 180 days after maturity, whereas if this loan had continued to earn bonus interest it would have grown to about 7.5% because this loan was about 15 months past maturity. So what actually was paid? If you look at the default page, it can be seen that the maximum bonus is 2.96%.
This means that the bonus only applies for up to 180 days overdue - which was not what I had assumed!
EDIT - ok it is stated that the bonus only accrues for the Tolerance Period in the FAQ - but I assume that Lendy continue to charge overdue penalty interest after this period from which only they benefit (assuming full recovery)!
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mikes1531
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Post by mikes1531 on Oct 2, 2017 11:54:21 GMT
If you look at the default page, it can be seen that the maximum bonus is 2.96%.
This means that the bonus only applies for up to 180 days overdue - which was not what I had assumed!
EDIT - ok it is stated that the bonus only accrues for the Tolerance Period in the FAQ - but I assume that Lendy continue to charge overdue penalty interest after this period from which only they benefit (assuming full recovery)!
mary: Thanks for that. I hadn't noticed the numbers on the Defaults page at the time I asked. Have Lendy indicated where the bonus interest fall in the repayment queue? It seems clear from the email announcing the partial repayment of PBL047 that capital is first, then accrued interest, then bonus interest. But how do Lendy fees, interest, default/bonus interest, etc., fit in with those?
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bfish
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Post by bfish on Nov 3, 2017 9:21:18 GMT
Lendy's longest overdue default loan REPAID IN FULL along with bonus, interest to follow at the end of the month!! With bag fulls of bad news floating around at the moment, a little good news is welcome. Has anyone received their backlog of interest (last paid in Feb I believe) - or is it just me ? I will, of course, be asking George shortly !
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Post by da2279 on Nov 3, 2017 9:30:38 GMT
No not received as yet, i e-mailed support about this and some others last night. I'll update when i get a reply.
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