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Post by yorkshireman on Jun 21, 2017 10:30:55 GMT
Please translate.  According to wiktionary: (Geordie, vulgar, dismissal) go away I guessed as much, a strange dialect unlike the proper English wot we spayk in God’s Own County.
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guff
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Post by guff on Jun 21, 2017 11:17:22 GMT
According to wiktionary: (Geordie, vulgar, dismissal) go away I guessed as much, a strange dialect unlike the proper English wot we spayk in God’s Own County. Hadawaynshite! 
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GeorgeT
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Post by GeorgeT on Jun 21, 2017 15:05:30 GMT
Howay the lads and all that. However, getting back on track, I note that on 10 June it was posted by LY that "Solicitors have now finalised matters so everything should be concluded in next few days.".
There was some confusion about what that might mean. Now, on 21 June, I note this loan has slipped to -5 days on the remaining term which indicates that it has neither been repaid nor extended by way of a further interest payment from the borrower. I am sure this will be a matter of concern for many lenders and may I invite Paul64 to provide us with an update at his earliest convenience. Many thanks. |
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toffeeboy
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Post by toffeeboy on Jun 21, 2017 17:44:00 GMT
Howay the lads and all that. However, getting back on track, I note that on 10 June it was posted by LY that "Solicitors have now finalised matters so everything should be concluded in next few days.".
There was some confusion about what that might mean. Now, on 21 June, I note this loan has slipped to -5 days on the remaining term which indicates that it has neither been repaid nor extended by way of a further interest payment from the borrower. I am sure this will be a matter of concern for many lenders and may I invite Paul64 to provide us with an update at his earliest convenience. Many thanks. To be honest I don't think it will be of concern to the majority of the lenders involved, with your selling tactic do you even hold any of this loan now? Most of us invest with the intention of holding to term and understand that that could mean it going over term as is regularly the case in bridging loans. The interest is still being paid to us on a monthly basis and I for one am happy that there is plenty of equity available in the property so not concerned at all. This one has had a clear plan all along and I am not concerned that legal has taken longer than anticipated, most people that have brought a property know how things get tied up in legal for a while.
The problem as usual is Lendy's ambiguity with the phrases that they use but I see no need for any concern at a loan at -5 days.
I do think that you get far too worried about things for it to be good for you investing in P2P GeorgeT especially when I suspect you don't even hold any of this particular loan for you to be concerned about.
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sirius
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Post by sirius on Jun 21, 2017 19:11:52 GMT
One for you old hands here.............what is the difference in Lendy speak between "matters being finalised" and "matters being concluded"!?
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fp
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Post by fp on Jun 21, 2017 19:19:34 GMT
One for you old hands here.............what is the difference in Lendy speak between "matters being finalised" and "matters being concluded"!? 14 days, between 26/5 and 9/6 in this instance
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GeorgeT
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Post by GeorgeT on Jun 21, 2017 22:35:01 GMT
Just for clarity I do still have a small amount in this loan and it is the first time ever that I have had money invested in a loan showing negative days. I appreciate the points made about the advanced state of this development and that all looks ok but nonetheless a more detailed update would be appreciated this week. In the Friday update at the very latest. I also recognise that Paul has probably been very busy today in Birmingham at the show and has not been in a position to offer a response on here.
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elliotn
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Post by elliotn on Jun 22, 2017 0:41:40 GMT
Just for clarity I do still have a small amount in this loan and it is the first time ever that I have had money invested in a loan showing negative days. I appreciate the points made about the advanced state of this development and that all looks ok but nonetheless a more detailed update would be appreciated this week. In the Friday update at the very latest. I also recognise that Paul has probably been very busy today in Birmingham at the show and has not been in a position to offer a response on here. George, would you mind telling us how your 400 is doing? Did this loan get any extension in tidying up the remaining days.
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copacetic
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Post by copacetic on Jun 23, 2017 11:15:12 GMT
Latest update: " Documentation was finally completed with Solicitors. The facility has now been formally extended until the end of July. The number of days remaining will be updated accordingly. In order to fund the extension and complete the final snagging list for the development Lendy have provided a separate/ additional loan, which ranks behind the Investors loan. This should enable the completion of the build within the next few weeks together with the sale of the commercial unit and maybe 1 or 2 residential units." And as twoheads points out on the Status thread: 23/06 DFL002 SBL>IOA (remaining term changed from -6 to +38) Is this not just 'SBL' by another name?
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GeorgeT
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Post by GeorgeT on Jun 23, 2017 11:43:06 GMT
Firstly, I'd like to give a public thanks fo Paul for listening and ensuring we got a more detailed update on this one.
This has demonstrated the value of thorough updates in creating investor confidence and stimulating the SM. I note that one investor has already responded by swooping on this loan and buying a £10k chunk of it, thereby buying me out of this loan after a loan wait. I note that I listed my last loan parts for sale on 6th May and today, 23 June, they have sold.
My portfolio is looking stronger today and I attribute this to a quality LY update, and the extension.
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elliotn
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Post by elliotn on Jun 23, 2017 11:54:17 GMT
Just for clarity I do still have a small amount in this loan and it is the first time ever that I have had money invested in a loan showing negative days. I appreciate the points made about the advanced state of this development and that all looks ok but nonetheless a more detailed update would be appreciated this week. In the Friday update at the very latest. I also recognise that Paul has probably been very busy today in Birmingham at the show and has not been in a position to offer a response on here. George, would you mind telling us how your 400 is doing? Did this loan get any extension in tidying up the remaining days. Congratulations GeorgeT, a high class loan update 👌🏿
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jcb208
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Post by jcb208 on Aug 1, 2017 14:05:58 GMT
This loan is now in negative territory and if you believed the latest update "Borrower is fully aware that full repayment is expected by the end of July" we should of been paid back on time ,or are we going to get another extension
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izigor
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Post by izigor on Sept 8, 2017 12:07:42 GMT
Hi guys, does anyone have any new information on this loan?
I have noticed that on a fair number of loans, there are people who are able to act before news are made public. I therefore believe insider information is shared to some investors (unfairly I'll add). Unfortunately for me, I don't have this privilege, but the queue seems to have moved in the past few days ... anyone have any ideas if something's going on?
No doubt, I'm just having a mirage while clutching at straws
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mary
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Post by mary on Sept 8, 2017 12:53:04 GMT
Hi guys, does anyone have any new information on this loan? I have noticed that on a fair number of loans, there are people who are able to act before news are made public. I therefore believe insider information is shared to some investors (unfairly I'll add). Unfortunately for me, I don't have this privilege, but the queue seems to have moved in the past few days ... anyone have any ideas if something's going on? No doubt, I'm just having a mirage while clutching at straws It's a mirage, by checking the Recent Investor Activity tab within the loan details you can see that there has been just 6 transactions for a total value £86 sold on the SM in September to date. Therefore if the queue has moved it is due to people cancelling loan parts from the queue, which makes sense if you think there is no chance of selling and that you may as well accrue interest and hope that it is recovered at some point, whereas leaving it on the SM you forfeit accrued interest while offered for sale.
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seeingred
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Post by seeingred on Sept 8, 2017 13:56:21 GMT
Lots of loans both on Lendy and other platforms show wild fluctuations of the amount for sale - the large one in Wolverhampton comes to mind, also the large house by the River Thames with the gold plated bathroom.
There is often more delisting these days too as investors realise they might as well have some interest rather than sit is a queue going nowhere.
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