twoheads
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Post by twoheads on Apr 7, 2017 11:50:35 GMT
Well PBL166 has drawn down (12:47) and PBL084 has its extension of 183 days (12:48) - days changed from -36 to +147 and status from SBL to IOA.
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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 Apr 7, 2017 13:06:09 GMT
Well PBL166 has drawn down (12:47) and PBL084 has its extension of 183 days (12:48) - days changed from -36 to +147 and status from SBL to IOA.
Which does leave us with the surprising connundrum of two loans secured on the same asset which appear to need to be refinanced together ending at opposite ends of the same month. Lendy do make things interesting. 
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twoheads
Member of DD Central
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Post by twoheads on Apr 7, 2017 13:11:52 GMT
Well PBL166 has drawn down (12:47) and PBL084 has its extension of 183 days (12:48) - days changed from -36 to +147 and status from SBL to IOA.
Which does leave us with the surprising connundrum of two loans secured on the same asset which appear to need to be refinanced together ending at opposite ends of the same month. Lendy do make things interesting. Except that a few minutes ago (at 14:03), PBL084 got a further extension of 29 days and now matches PBL166 on 176 days.
Not sure why they couldn't get it right with their first adjustment!
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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: 11,331
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Post by ilmoro on Apr 7, 2017 13:13:47 GMT
Which does leave us with the surprising connundrum of two loans secured on the same asset which appear to need to be refinanced together ending at opposite ends of the same month. Lendy do make things interesting. Except that a few minutes ago (at 14:03), PBL084 got a further extension of 29 days and now matches PBL166 on 176 days.
Not sure why they couldn't get it right with their first adjustment!
Must have been waiting for me to finish updating the list. Cleared it from the SM now anyway.
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Post by supernumerary on Apr 7, 2017 17:21:13 GMT
Except that a few minutes ago (at 14:03), PBL084 got a further extension of 29 days and now matches PBL166 on 176 days.
Not sure why they couldn't get it right with their first adjustment!
Must have been waiting for me to finish updating the list. Cleared it from the SM now anyway. I'm glad that you have provided a running commentary of sorts, about what happened here, with the movement of the remaining term days left for PBL084.  There was over £69,000 of PBL084 available on the secondary market this morning... 
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Post by supernumerary on Apr 20, 2017 21:52:36 GMT
Confirmed, £3150, asked for £5k. But why would you ask for any of it when there is PBL084 sitting available on the SM? I'm baffled. What continually baffles me is that people invest in PBL166 (which has 2nd charge on the assets), while with PBL084, which has 1st charge on the assets, there is still SM availability. You can see this currently on the secondary market.
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elliotn
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Post by elliotn on Apr 21, 2017 0:26:57 GMT
But why would you ask for any of it when there is PBL084 sitting available on the SM? I'm baffled. What continually baffles me is that people invest in PBL166 (which has 2nd charge on the assets), while with PBL084, which has 1st charge on the assets, there is still SM availability. You can see this currently on the secondary market. That will also be down to relative size, there may be investors selling the 1C that do not hold the 2C. Certainly an opportunity for 2C holders to recycle, although some prefunders might not be active daily.
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Post by supernumerary on Apr 21, 2017 5:44:37 GMT
What continually baffles me is that people invest in PBL166 (which has 2nd charge on the assets), while with PBL084, which has 1st charge on the assets, there is still SM availability. You can see this currently on the secondary market. That will also be down to relative size, there may be investors selling the 1C that do not hold the 2C. Certainly an opportunity for 2C holders to recylcle, although some prefunders might not be active daily. 'Relative size' must be one of the reasons, due to more of PBL084 coming onto the market place than PBL166. Also 'positioning' in the list of secondary market availability probably is a major factor too. However, still does not get over the fact that PBL084 is the more secure of the two loans, with it having first charge. Even THE DUDE agrees; So for this loan, with a chunk of PBL084 sitting on the SM isn't it better just to buy that and set your pre funding for 166 to zero given 84 will rank ahead of 166? Yes. If you have any intention in investing in the Scottish Estate, you would be silly not to try and invest in PBL084 first
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southport
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Post by southport on Sept 15, 2017 8:11:33 GMT
Looks like there could possibly be a big hit coming for investors in this loan. 8.5m valuation? You could buy most of N/W Scotland for that kind of money...  |
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blueninja
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Post by blueninja on Oct 11, 2017 20:18:54 GMT
PBL84 & PBL166 both suspended SM today, with an update on the Lendy site stating borrower disputing the outstanding debt.
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Post by GSV3MIaC on Oct 12, 2017 13:06:33 GMT
It boggles my mind that anyone bought into 166 .. haven't they heard of the phrase 'good money after bad'?
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Post by p2plender on Oct 12, 2017 13:55:51 GMT
Perhaps they trusted the DD of the great Lendy.
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Post by martin44 on Oct 12, 2017 15:30:36 GMT
Oh heck.. iv'e got £15.00 in one of those.  |
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jontyab
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Post by jontyab on Jan 20, 2018 8:33:12 GMT
From pbl084 updates:
we cannot proceed with the standstill agreement as originally proposed due to the Borrower not being able to meet the conditions to the standstill agreement. As a result, we are in discussions with our solicitors as to how best to proceed and recover the outstanding balance owed.
But don't worry, it's not DEF. See? Still in 'live loans' and everything.
I'm reasonably confident this will resolve eventually, I only have sine scraps in this loan but do think the ambiguity with the suspended categorisation is not helping lenders
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webwizard
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Post by webwizard on Jan 20, 2018 9:00:59 GMT
The posting before that sounded more positive.
Perhaps it is part of the tactic to use this as encouragement to get the borrower to agree to terms.
Unfortunately, it is exactly this, looks OK, looks good, looking better ... whoops, the deal is off and it has been bad all along..... approach that is winding up Lendy users.
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