sirius
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Post by sirius on Apr 28, 2018 13:22:02 GMT
And the interesting thing will be how they divide the loss between the two loans. Many lenders will be in only one of them and any perceived unfairness will lead to howls of complaint, but it will require the wisdom of Solomon to come up with a division which keeps everyone happy. It's irrelevant. Lendy is the borrower on both loans and therefore liable to make up 100% of the capital and interest. It is certainly irrelevent for those of us who refused their new terms and will hold Lendy to the original contract whereby they make up any shortfall.
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gwenynwyr
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Post by gwenynwyr on Apr 28, 2018 16:25:39 GMT
It's irrelevant. Lendy is the borrower on both loans and therefore liable to make up 100% of the capital and interest. It is certainly irrelevent for those of us who refused their new terms and will hold Lendy to the original contract whereby they make up any shortfall. Do you know what is in the original contract? Might well be a lot of wriggle room!
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invester
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Post by invester on Apr 28, 2018 16:26:24 GMT
Problem is, what if they try and avoid paying up using some smarmy worded BS? Theoretically they could still kick the can down the road indefinitely like they have done for all the other loans.
You would probably need a massive amount in this loan to make legalities worthwhile, or an action where a group of lenders joined together to share the fees.
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izigor
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Post by izigor on Apr 28, 2018 17:07:36 GMT
Well, that was some smart thinking.... maybe next time, put your thoughts into that pipe and smoke it... Next time? How do you think I got those thoughts in the first place...
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izigor
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Post by izigor on Apr 28, 2018 17:12:07 GMT
Based on past performance of can kicking you may well be right. But I have a sneaking feeling that this might be the loan where they finally give up the charade of "nobody has lost money". There may be pressure from the FCA and they must realise that any delay will only increase the eventual loss. So I am prepared to put up my grandmother's pipe against your wager. May the best person win. Whatever the outcome, those two pipes looks destined to be together ♡♡♡
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averageguy
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Post by averageguy on Apr 28, 2018 23:49:11 GMT
Contractually that is correct though isn't it? We lent money to SS, who then lent it out. Whether they might try and renege on this is another thing. I have a feeling they may gamble and hope that enough people don't have deep enough pockets to enforce it. But it's obvious that there is something different about this one, had it been anything else it would have gone to a vote. I don't think they want to risk a build out and then the houses being worth nothing near what the valuations suggested. Watching with interest. I will be surprised if Lendy make up the shortfall and don’t think they should unless it is a cast iron legal thing. I'm watching with interest to.....to see what the deal is worth! Then to see if it actually happens...everything else until then is not worth arguing about
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Post by charliebrown on Apr 29, 2018 0:13:21 GMT
If we look at the results from previous LY votes we can see that most investors vote for the option that offers the quickest resolution, even when that option means they will need to take a significant haircut. Based on that sentiment I’d think most investors would want to make a deal with the borrower, even accepting significant capital losses.
LY has started to improve in certain areas but I personally don’t think the returns from LY are anywhere near worth the stress and the net returns. After all the haircuts are finished most of us are going to be looking rather bald.
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Jeepers
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Post by Jeepers on Apr 29, 2018 8:05:13 GMT
Keep a well diversified portfolio and you'll still make a better return than banks etc.
Worst case scenario, I reckon a balanced portfolio would see a 20% default rate and an average 70% recovery- Total 6% loss.
So you can still expect to receive 6%. Anything over is a bonus.
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agent69
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Post by agent69 on Apr 29, 2018 8:19:33 GMT
You obviously don't invest in TC then? However, I thing 5 -6% return is reasonable over the long term, and I am constantly amazed by people who appear to have invested their life savings in P2P, being reliant on the returns to cover their day to day living costs.
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Jeepers
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Post by Jeepers on Apr 29, 2018 9:00:41 GMT
I don't invest in TC. Still 70% average is not unrealistic. Some will recover 100%, some will recover 40% although most will be upwards of 70%.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Apr 29, 2018 10:47:46 GMT
Keep a well diversified portfolio and you'll still make a better return than banks etc. Worst case scenario, I reckon a balanced portfolio would see a 20% default rate and an average 70% recovery- Total 6% loss. So you can still expect to receive 6%. Anything over is a bonus. This looks more like a best case scenario IMO. Current loans in difficulty are more than 20% by value and there have been many losses in excess of 30%. In the case of DFLs 70% recovery is highly unlikely.
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Jeepers
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Post by Jeepers on Apr 29, 2018 11:15:04 GMT
There's also a lot of Loa s that gave had 100% repayment.
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Post by Badly Drawn Stickman on Apr 29, 2018 11:22:13 GMT
Keep a well diversified portfolio and you'll still make a better return than banks etc. Worst case scenario, I reckon a balanced portfolio would see a 20% default rate and an average 70% recovery- Total 6% loss. So you can still expect to receive 6%. Anything over is a bonus. This looks more like a best case scenario IMO. Current loans in difficulty are more than 20% by value and there have been many losses in excess of 30%. In the case of DFLs 70% recovery is highly unlikely. For a lot of us, we will have no idea 'until the fat lady sings', what our returns will be. Knowing what I know now, Lendy is one opera I wouldn't have bought a ticket to in the first place. I suspect we are at the intermission, lets hope it gets better.
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Post by charliebrown on Apr 30, 2018 10:35:05 GMT
Keep a well diversified portfolio and you'll still make a better return than banks etc. Worst case scenario, I reckon a balanced portfolio would see a 20% default rate and an average 70% recovery- Total 6% loss. So you can still expect to receive 6%. Anything over is a bonus. This looks more like a best case scenario IMO. Current loans in difficulty are more than 20% by value and there have been many losses in excess of 30%. In the case of DFLs 70% recovery is highly unlikely. Based on what we’re starting to see I’d agree that 70% recovery looks like a best case. We’ve seen recoveries achieving much less than 70%. You’ve also got to factor in that recovery is a portion of capital only. What about all the lost interest whilst you wait 2 years+ for a resolution. I am well diversified in LY and if I can achieve a 6% return I’d be astounded, I’m actually bracing myself for significant capital losses. I’m not bashing LY, we are where we are, and I’m hoping we all ultimately can make a decent return.
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Post by spareapennyor2 on May 8, 2018 16:31:14 GMT
looked over the fence today photo link
no one about fenced off yard in front empty |
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