mikes1531
Member of DD Central
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Post by mikes1531 on Sept 27, 2017 18:11:26 GMT
I thought there used to be a Q&A tab within each loan's pages where I could ask a question like the above. I couldn't find anything like that today. Am I blind? That Q & A tab was there for about two years and Lendy never put anything in it for lenders to see. I'm not even sure whether they ever responded to people who used it. Anyone know? I tried it a few times. The result was similar to sending an email to Lendy -- sometimes I got a reply, sometimes I didn't. They used to say that they'd post on that page any Q&A they felt would be useful to other investors, but AFAIK they never posted anything. So they probably ended up answering -- or not answering -- the same questions over and over again. A complete lack of joined up thinking IMHO!
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guff
Posts: 730 
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Post by guff on Sept 27, 2017 18:49:16 GMT
Lendy Support : Today's update for this loan says there are occupants in the residential apartments without Lendy’s knowledge and/or consent. This implies to me that Lendy think the borrower should have requested their consent before doing this. Why is that? Also, I thought there used to be a Q&A tab within each loan's pages where I could ask a question like the above. I couldn't find anything like that today. Am I blind? That Q & A tab was there for about two years and Lendy never put anything in it for lenders to see. I'm not even sure whether they ever responded to people who used it. Anyone know? Is that a Question? Do you expect an Answer?
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Sept 27, 2017 19:07:19 GMT
Yes and I got two  |
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seeingred
Member of DD Central
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Post by seeingred on Sept 27, 2017 23:33:28 GMT
Living in interesting times... Enough material for a documentary or maybe a thriller by the time this ends.
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izigor
Member of DD Central
Posts: 162
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Post by izigor on Sept 29, 2017 21:24:02 GMT
Lendy Support : Today's update for this loan says there are occupants in the residential apartments without Lendy’s knowledge and/or consent. This implies to me that Lendy think the borrower should have requested their consent before doing this. Why is that? Also, I thought there used to be a Q&A tab within each loan's pages where I could ask a question like the above. I couldn't find anything like that today. Am I blind? As I understand it this is a development loan of an asset. Occupation or any action that would result in depreciation of the asset would (or at least should) be only due to hire, sale or unauthorised. Either of the three should be notified to Lendy (just like you would have if you had a mortgage). And if unauthorised the developer should be dealing with it unless repossessed. I'm not an expert nor a lawyer but the above is from my general knowledge (which also seems common sense, by coincidence).
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Post by martin44 on Sept 29, 2017 21:35:19 GMT
Living in interesting times... Enough material for a documentary or maybe a thriller by the time this ends. Or a horror.. 
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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: 11,333
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Post by ilmoro on Sept 29, 2017 23:56:32 GMT
Lendy Support : Today's update for this loan says there are occupants in the residential apartments without Lendy’s knowledge and/or consent. This implies to me that Lendy think the borrower should have requested their consent before doing this. Why is that? Also, I thought there used to be a Q&A tab within each loan's pages where I could ask a question like the above. I couldn't find anything like that today. Am I blind? As I understand it this is a development loan of an asset. Occupation or any action that would result in depreciation of the asset would (or at least should) be only due to hire, sale or unauthorised. Either of the three should be notified to Lendy (just like you would have if you had a mortgage). And if unauthorised the developer should be dealing with it unless repossessed. I'm not an expert nor a lawyer but the above is from my general knowledge (which also seems common sense, by coincidence). Specifically prohibited in the charge except by consent. Problem is that as the borrower is in default, breaching the terms of the charge is a moot point as Lendy can only default the loan as a result. mikes1531 Q&A got taken away months ago, though bizarrely tab still exists on DFL001 as that was the only loan a Q ever got an A. The Q&A system is now on the support page, register (different to main site login) and you can see the Q & A for your own questions (any youve ever asked from that email account - well last 2yrs since new site launched - including the ones they never actually answered)
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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: 11,333
Likes: 11,552
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Post by ilmoro on Oct 12, 2017 7:06:19 GMT
RM01 has now appeared at CH receivers appointed against the borrowing entity with charges over leasehold on commercial units. Appointed by SSSH on 11/9.
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dermot
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Post by dermot on Nov 11, 2017 15:11:22 GMT
Odd, why are no messages visible on this thread for the last 4 weeks?
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1stwaz
Member of DD Central
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Post by 1stwaz on Nov 11, 2017 19:39:35 GMT
No news is good news?
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izigor
Member of DD Central
Posts: 162
Likes: 86
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Post by izigor on Nov 11, 2017 20:53:30 GMT
And like when waiting for a bus ..
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dermot
Member of DD Central
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Post by dermot on Nov 14, 2017 13:29:45 GMT
On 26th October, the update said an offer has been accepted on one of the commercial units for £1M.
On 10th November, the next update talks about a prospective purchaser who visited "last week". Is this for the other commercial unit, residential parts or the entire site (ie has the first offer been withdrawn?)?
I wonder if the unauthorised occupation is still on going?
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Post by wightknight on Nov 14, 2017 15:45:07 GMT
On 26th October, the update said an offer has been accepted on one of the commercial units for £1M. On 10th November, the next update talks about a prospective purchaser who visited "last week". Is this for the other commercial unit, residential parts or the entire site (ie has the first offer been withdrawn?)? I wonder if the unauthorised occupation is still on going? I'm guessing that while an offer may have been accepted its still just an offer until legals have been done and the purchaser has conducted any investigations. It takes months for a cash sale of residential housing in England to be set in contract let alone a transaction of this kind.
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rrrupert
Member of DD Central
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Post by rrrupert on Nov 28, 2017 15:45:41 GMT
Much to my amazement this loan appears to have been unsuspended today. And now appears on the available loans list. I just noticed it, but there does not seem to be any indication in the recent updates section. Some people are actually buying parts!
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micky
Member of DD Central
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Post by micky on Nov 28, 2017 15:52:38 GMT
Nothing like a bit of competition- hopefully, this is not an error.-
23/11/2017
We have now received two offers to acquire the property, one from the borrower and the other from another interested party. The prospective purchaser is, therefore, undergoing its due diligence currently and we are hopeful that the deal will proceed to shortly.
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