GeorgeT
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Post by GeorgeT on Jul 18, 2017 11:51:39 GMT
updates of that nature rather than how lending in Newcastle compares to Wimbledon would be far more useful than today's newsletter.... Especially as the lending data is all from 2016 and therefore all a bit out of date and irrelevant to what is happening now. I don't see the point in the second half of 2017 in sending people out details about what was going on in 2016. All I will say is that the property market has now flatlined, to put it kindly. As for Exeter I agree we need answers and we need them fast. It does look as though this loan is another heading south.
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tombraider
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Post by tombraider on Jul 18, 2017 12:22:11 GMT
updates of that nature rather than how lending in Newcastle compares to Wimbledon would be far more useful than today's newsletter.... , savingstream. A marvellous PR exercise of Nero fiddling while Rome burns. Wouldn’t it be great if you concentrated more on the day job. Why has all work stopped on DFL 01 and the sales at DFL 02 non existent . Why is the borrower living in one of the units at DFL 02. Has he bought this property from the Company and have Lendy been given the cash. Has Lendy been given the cash from the lease / sale of the cafe which is in full operation? Great to see your PR at work but is it not time to look after your lenders who after all pay your salaries. It's this attitude from lendy which is leading to every repayment and interest payment leaving their platform and going to moneything and collateral.
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oldgrumpy
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Post by oldgrumpy on Jul 18, 2017 12:24:27 GMT
updates of that nature rather than how lending in Newcastle compares to Wimbledon would be far more useful than today's newsletter.... , savingstream . A marvellous PR exercise of Nero fiddling while Rome burns. Wouldn’t it be great if you concentrated more on the day job. Why has all work stopped on DFL 01 and the sales at DFL 02 non existent . Why is the borrower living in one of the units at DFL 02. Has he bought this property from the Company and have Lendy been given the cash. Has Lendy been given the cash from the lease / sale of the cafe which is in full operation? Great to see your PR at work but is it not time to look after your lenders who after all pay your salaries. What? Another "squatter"? I'm shocked.
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r1200gs
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Post by r1200gs on Jul 18, 2017 12:35:43 GMT
Paul64 , savingstream . A marvellous PR exercise of Nero fiddling while Rome burns. Wouldn’t it be great if you concentrated more on the day job. Why has all work stopped on DFL 01 and the sales at DFL 02 non existent . Why is the borrower living in one of the units at DFL 02. Has he bought this property from the Company and have Lendy been given the cash. Has Lendy been given the cash from the lease / sale of the cafe which is in full operation? Great to see your PR at work but is it not time to look after your lenders who after all pay your salaries. What? Another "squatter"? I'm shocked. I'm still on DFL 02 as I considered it pretty decent. Now I'm left wonder ring how DFL01 will effect is, particularly as the borrower seems to have taken up residence. 
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agent69
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Post by agent69 on Jul 18, 2017 12:53:00 GMT
Paul64 , savingstream , can you tell us why ALL work on this development has stopped and what you intend to do about this. A single car parked outside the show home is the only sign of life.
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agent69
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Post by agent69 on Jul 18, 2017 17:47:23 GMT
For those that are interested, the attached pics show the current state of play. 4 units nearest to the road look near to completion, remainder have varying amounts of scaffold around them.
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guff
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Post by guff on Jul 18, 2017 18:29:05 GMT
Paul64 , savingstream . A marvellous PR exercise of Nero fiddling while Rome burns. Wouldn’t it be great if you concentrated more on the day job. Why has all work stopped on DFL 01 and the sales at DFL 02 non existent . Why is the borrower living in one of the units at DFL 02. Has he bought this property from the Company and have Lendy been given the cash. Has Lendy been given the cash from the lease / sale of the cafe which is in full operation? Great to see your PR at work but is it not time to look after your lenders who after all pay your salaries. What? Another "squatter"? I'm shocked. If this (and Somerset) is true then please get your arses into gear and sort it out as it's our money with which you are playing silly buggers… or at least have the decency to re-brand, update your mission statement and change your name to Squatty. Do you want us all to hop on the ferry and come over to Cowes to discuss it in person?
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oldgrumpy
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Post by oldgrumpy on Jul 18, 2017 18:30:51 GMT
I know a friendly coach driver who would drive for a supply of pints at a later stage?  |
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username
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Post by username on Jul 18, 2017 19:39:27 GMT
Who can think of a better endorsement than the builder moving in!
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stevio
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Post by stevio on Jul 18, 2017 21:28:01 GMT
What? Another "squatter"? I'm shocked. If this (and Somerset) is true then please get your arses into gear and sort it out as it's our money with which you are playing silly buggers… or at least have the decency to re-brand, update your mission statement and change your name to Squatty. Do you want us all to hop on the ferry and come over to Cowes to discuss it in person? Or send "the boys" round in the van 😉
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fp
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Post by fp on Jul 18, 2017 21:44:54 GMT
I wonder if Lendy envisaged the possibility of numerous "disgruntled investors " rocking up at Cowes for cocktail hour when they sent out an open invitation ? 😂
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seeingred
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Post by seeingred on Jul 19, 2017 10:09:22 GMT
I wonder if Lendy envisaged the possibility of numerous "disgruntled investors " rocking up at Cowes for cocktail hour ? 😂 I think disgruntled is the wrong term . Disappointed. Projects can always go wrong - or they can become a shambles. Exeter is far from that (yet). But if projects go wrong because of lack of oversight then they are a preventable shambles.
Disappointed that a platform that could have offered so much as a long term successful company seems to be going the way of get-rich-quick, using 'bimbo' advertising (see last circular email) and similar marketing and using platform profits for a hedonistic Marbella lifestyle for the directors instead of laying the foundations for long term and sustainable growth. There is too much spin, not enough substance. Too many false promises, half truths and loans not being properly managed. Disappointed that I now feel that withdrawal is a better, more prudent option than reinvestment. Disappointed that having been 'invited' to Cowes initially as a moderately large investor I increasingly feel I have nothing in common with Lendy management. My P2P investments are largely in major DFL projects that I consider 'worthwhile' - helping to ensure re-use of major iconic buildings in many towns and cities across the UK. Few if any in future are likely to be on the Lendy platform.
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mikes1531
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Post by mikes1531 on Jul 19, 2017 11:44:24 GMT
0.5% bonus kicked in today on this loan. It will pay 12.5% for the next 30 days (assuming no repayment or term extension suddenly appears). I'm not sure the above is the correct interpretation of the bonus. AIUI, the 0.5% bonus is a monthly amount, so the effective interest rate for the next month would be 1.5%/month or 18% p.a. It's all accruing, however, so who knows if investors will ever see a penny of it.
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Post by gaspilot on Jul 19, 2017 12:38:02 GMT
What? Another "squatter"? I'm shocked. I'm still on DFL 02 as I considered it pretty decent. Now I'm left wonder ring how DFL01 will effect is, particularly as the borrower seems to have taken up residence. If the E****G Bridging loan on AC is anything to go by we have a long wait to find out. Nightmare!!
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twoheads
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Programming
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Post by twoheads on Jul 19, 2017 12:42:23 GMT
0.5% bonus kicked in today on this loan. It will pay 12.5% for the next 30 days (assuming no repayment or term extension suddenly appears). I'm not sure the above is the correct interpretation of the bonus. AIUI, the 0.5% bonus is a monthly amount, so the effective interest rate for the next month would be 1.5%/month or 18% p.a. It's all accruing, however, so who knows if investors will ever see a penny of it. I should have said 12.5% per annum for the next 31 days as the bonus will go to 1% on August 18th.
I'm assuming that the next interest run will have 17 days at 12% and 14 days at 12.5% (EDIT - presumably, it won't be paid though as the SBL status is disappearing and becoming IA)
Interest rate for holding throughout July = (12.0 * 17 + 12.5 * 14) / 365 (1.038% as opposed to 1.019% without the bonus)
I'm certain the bonus rate is annual. As @new2p2p says, some loans are paying bonuses of 2.5%; no way will that be monthly!
If you owned a penny of PBL074 (Farm in Cambridgeshire) you'd see that's currently paying a 6% bonus... again, that ain't monthly!
I don't know why the bonus column was removed from the defaulted loans page. Initially it was added along with all the other pages but later removed again from defaulted loans.
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