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Post by GSV3MIaC on Mar 30, 2018 21:04:30 GMT
That previous offer, aiui, had strings (of the 'this is full and final settlement so you can't come after me via a PG etc' type clause) .. if that were the case then Ly would be correct in kicking it into touch .. in favour of get what you can for the properties, and then get what extra you can any way possible ..
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Jeepers
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Post by Jeepers on Mar 30, 2018 21:40:26 GMT
How would a build out actually work?
Who keeps the profit from the project (If there is any) ? Surely Lendy don't manage the build out, recover the loan and pass the remaining proceeds to the borrower.
Do the lenders become shareholders in the development?
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GeorgeT
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Post by GeorgeT on Mar 30, 2018 22:21:46 GMT
This is one of 2 LY loans I have a bit stuck in because my sell out strategy failed on this occasion because I was about 2 weeks late in listing my offering. I would add that my tactical strategy worked like a charm for two to three years previous and I am one of the fortunate ones who has earned much more in interest from this platform then I have stuck in defaults. In fact despite all the LY bashing that goes on around here I would add that whatever happens on any platform I am involved in, this will be my best performing platform of all time because even if I factor in an unrealistic 100% loss on my 2 stuck defaults I will still come out with a double digit return on an overall net basis.
Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due.
However as regards this loan my position, and I appreciate it will not be the position of everyone, would be to take whatever is on the table now rather than enter into some pretty unknown outcome 'Let's Build It Out' scenario that could catapult the recovery into the next decade.
It seems we may not get a vote on this one but if there was a vote and there was a recovery on the table of anything north of 30% I think I would be voting for it. But as I said I realise others will be in a different position to me and I fully respect that other people will view it differently.
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Post by rb5286 on Mar 31, 2018 11:56:13 GMT
This is one of 2 LY loans I have a bit stuck in because my sell out strategy failed on this occasion because I was about 2 weeks late in listing my offering. I would add that my tactical strategy worked like a charm for two to three years previous and I am one of the fortunate ones who has earned much more in interest from this platform then I have stuck in defaults. In fact despite all the LY bashing that goes on around here I would add that whatever happens on any platform I am involved in, this will be my best performing platform of all time because even if I factor in an unrealistic 100% loss on my 2 stuck defaults I will still come out with a double digit return on an overall net basis. Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due. However as regards this loan my position, and I appreciate it will not be the position of everyone, would be to take whatever is on the table now rather than enter into some pretty unknown outcome 'Let's Build It Out' scenario that could catapult the recovery into the next decade. It seems we may not get a vote on this one but if there was a vote and there was a recovery on the table of anything north of 30% I think I would be voting for it. But as I said I realise others will be in a different position to me and I fully respect that other people will view it differently. True, the early investors usually do well from a ponzi scheme, but it is quite naive and selfish to state: 'Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due.' What about everyone else? all the one's who bought your loan parts?
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Jeepers
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Post by Jeepers on Mar 31, 2018 12:03:44 GMT
What about everyone else? all the one's who bought your loan parts? Thank you very much 
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Post by Badly Drawn Stickman on Mar 31, 2018 12:03:45 GMT
This is one of 2 LY loans I have a bit stuck in because my sell out strategy failed on this occasion because I was about 2 weeks late in listing my offering. I would add that my tactical strategy worked like a charm for two to three years previous and I am one of the fortunate ones who has earned much more in interest from this platform then I have stuck in defaults. In fact despite all the LY bashing that goes on around here I would add that whatever happens on any platform I am involved in, this will be my best performing platform of all time because even if I factor in an unrealistic 100% loss on my 2 stuck defaults I will still come out with a double digit return on an overall net basis. Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due. However as regards this loan my position, and I appreciate it will not be the position of everyone, would be to take whatever is on the table now rather than enter into some pretty unknown outcome 'Let's Build It Out' scenario that could catapult the recovery into the next decade. It seems we may not get a vote on this one but if there was a vote and there was a recovery on the table of anything north of 30% I think I would be voting for it. But as I said I realise others will be in a different position to me and I fully respect that other people will view it differently. True, the early investors usually do well from a ponzi scheme, but it is quite naive and selfish to state: 'Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due.' What about everyone else? all the one's who bought your loan parts? In fairness it's not everybody who can pat themselves on the back whilst kicking others where it hurts. Opinions will differ on the social value of the trick.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Mar 31, 2018 13:23:13 GMT
I feel much more comfortable when I make a loan which enables the borrower to make money, as well as me, so there are no losers.
Edited in red (in view of following post)
Edited again (for the avoidance of doubt) I am not philantropic in my p2p dealings (though I think I am in other ways) and whilst my preference is no loser, if there is to be one I prefer it to be the buyer of my loans rather than me. If the buyer makes a profit so much the better.
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Post by loftankerman on Mar 31, 2018 16:43:07 GMT
I feel much more comfortable when I make a loan which enables the borrower to make money, so there are no losers. Excellent! I have just the thing for you. Make small interest free loans to poor people in 3rd world countries. You can change lives. I won't put a link in, but you can PM me if you want.
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GeorgeT
Member of DD Central
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Post by GeorgeT on Mar 31, 2018 22:27:36 GMT
This is one of 2 LY loans I have a bit stuck in because my sell out strategy failed on this occasion because I was about 2 weeks late in listing my offering. I would add that my tactical strategy worked like a charm for two to three years previous and I am one of the fortunate ones who has earned much more in interest from this platform then I have stuck in defaults. In fact despite all the LY bashing that goes on around here I would add that whatever happens on any platform I am involved in, this will be my best performing platform of all time because even if I factor in an unrealistic 100% loss on my 2 stuck defaults I will still come out with a double digit return on an overall net basis. Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due. However as regards this loan my position, and I appreciate it will not be the position of everyone, would be to take whatever is on the table now rather than enter into some pretty unknown outcome 'Let's Build It Out' scenario that could catapult the recovery into the next decade. It seems we may not get a vote on this one but if there was a vote and there was a recovery on the table of anything north of 30% I think I would be voting for it. But as I said I realise others will be in a different position to me and I fully respect that other people will view it differently. True, the early investors usually do well from a ponzi scheme, but it is quite naive and selfish to state: 'Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due.' What about everyone else? all the one's who bought your loan parts? I don't think there's anything naive or selfish about it. I never made anyone buy any of my loan parts. I made use of a facility called the secondary market and put things up for sale that I wished to offload in order to buy into newer and less risky loans and people came along who obviously had a higher appetite for risk than me and bought most of them. However they didn't buy everything I put up for sale which is why I am in this defaulted loan. It was an obvious fact of the matter that a newish loan was a lower risk than an older loan. But the way that the LY secondary market works is that a fresh loaf of bread has to be sold for the same price as a stale loaf of bread. If people with an appetite for risk want to buy a stale loaf of bread who am I in a free world and a free market to stop them or deny them that opportunity. On a 12 month bridging loan the loan should start off at a rate of 10% rising to 11% after 3 months and then 12% after 6 months and then 13% after 9 months and then 14% when it reaches maturity. The overall interest payment would still amount to 12% and it would much better reflect the risk profile of the loan as it progresses from not drawn down at all to becoming due for repayment. It would also lubricate the wheels of the secondary market in that investors with a higher appetite for risk would be more likely to buy into an old loan at 13% or 14% then they are for 12% or in some cases even less than that.
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hazellend
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Post by hazellend on Apr 1, 2018 9:42:39 GMT
True, the early investors usually do well from a ponzi scheme, but it is quite naive and selfish to state: 'Therefore I think that any of us who have been investing through Lendy for any significant amount of time should give credit where credit is due.' What about everyone else? all the one's who bought your loan parts? I don't think there's anything naive or selfish about it. I never made anyone buy any of my loan parts. I made use of a facility called the secondary market and put things up for sale that I wished to offload in order to buy into newer and less risky loans and people came along who obviously had a higher appetite for risk than me and bought most of them. However they didn't buy everything I put up for sale which is why I am in this defaulted loan. It was an obvious fact of the matter that a newish loan was a lower risk than an older loan. But the way that the LY secondary market works is that a fresh loaf of bread has to be sold for the same price as a stale loaf of bread. If people with an appetite for risk want to buy a stale loaf of bread who am I in a free world and a free market to stop them or deny them that opportunity. On a 12 month bridging loan the loan should start off at a rate of 10% rising to 11% after 3 months and then 12% after 6 months and then 13% after 9 months and then 14% when it reaches maturity. The overall interest payment would still amount to 12% and it would much better reflect the risk profile of the loan as it progresses from not drawn down at all to becoming due for repayment. It would also lubricate the wheels of the secondary market in that investors with a higher appetite for risk would be more likely to buy into an old loan at 13% or 14% then they are for 12% or in some cases even less than that. Or you could just allow discounting on the secondary market
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Jeepers
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Post by Jeepers on Apr 1, 2018 16:38:59 GMT
Another reason to accept the borrowers offer is that a repayment of £6-9m would mean money for new loans.
Cut the losses and forget this old rope!
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Liz
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Post by Liz on Apr 1, 2018 17:01:03 GMT
I assume any money put into the build for a build out would need to be paid back before this loan, otherwise it would be a no brainier.
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Jeepers
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Post by Jeepers on Apr 1, 2018 17:04:21 GMT
Liz what other loan is there ? If the loan is repaid we don't need to worry about funding a build out.
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Liz
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Post by Liz on Apr 1, 2018 17:32:46 GMT
Liz what other loan is there ? If the loan is repaid we don't need to worry about funding a build out. You need to wait for details to decide which is the best option. A lot people wanted the build out option, so Lendy must be commended on that. The easy option for Lendy is to sell, the build out is the costly time consuming option. Or maybe Lendy are on the hook for this one, old T&C's and the build out would benefit Lendy. I don't know.
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Jeepers
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Post by Jeepers on Apr 1, 2018 18:00:08 GMT
Lendy are on the hook for this one so why would I want to wait for a build out?
I assume you're not in this one and don't want to put strain on Lendy? Even if it means an additional loan to Lendy for the shortfall if they cant pay the loss upfront. Selling is the best option. Maybe we need a poll?
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