littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Sept 18, 2018 20:56:31 GMT
Would investors be better off if DFL001 and DFL002 were not treated as a package?From memory DFL002 was a viable watertight near finished block in a desirable location.
If the borrower continues to give Lendy the run around wouldn't it be better for lenders if DFL002 could be sold on or built out?
It is DFL001 that is the problematic one with the access issues.
This seems to be Lendy's best hope of extracting a decent settlement with the borrower.
Although kicking the can down the road to avoid any Old Terms liabilities seems to be Lendy's main focus despite the bad PR that comes with this approach. The answer depends if you are in 001 or 002 or both.
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averageguy
Member of DD Central
Posts: 1,188 
Likes: 895
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Post by averageguy on Sept 25, 2018 13:24:55 GMT
Early October? LOL
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wuzimu
Member of DD Central
Posts: 236
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Post by wuzimu on Sept 25, 2018 13:58:20 GMT
I drove down old rydon lane middle of night, someone is in residence in the old bungalow which says 'under offer' , well lights on car outside hmmmm....
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Post by charliebrown on Sept 29, 2018 14:05:52 GMT
With lie after lie after lie from LY (perhaps lies from the borrower that LY just pass on without verification) I don’t feel it’s very likely that the borrower is going to pay up. Since there’s a movement of people here on the forum who are convinced that LY is fully liable for the Exeter loans then what can we do to call in the loans from LY? I suggest we call these loans in whilst LY is still in business (we might not have long).
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Post by twam on Sept 29, 2018 19:07:32 GMT
With lie after lie after lie from LY (perhaps lies from the borrower that LY just pass on without verification) I don’t feel it’s very likely that the borrower is going to pay up. Since there’s a movement of people here on the forum who are convinced that LY is fully liable for the Exeter loans then what can we do to call in the loans from LY? I suggest we call these loans in whilst LY is still in business (we might not have long). I agree with all the underhand dealing of late (trustpilot and twenty promises of repayment )It's obviously time we stepped in, as the people who lent the money surely we own the property, is it possible to repossess before the team at lendy do a runner.
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Post by Badly Drawn Stickman on Sept 29, 2018 19:33:07 GMT
With lie after lie after lie from LY (perhaps lies from the borrower that LY just pass on without verification) I don’t feel it’s very likely that the borrower is going to pay up. Since there’s a movement of people here on the forum who are convinced that LY is fully liable for the Exeter loans then what can we do to call in the loans from LY? I suggest we call these loans in whilst LY is still in business (we might not have long). I agree with all the underhand dealing of late (trustpilot and twenty promises of repayment )It's obviously time we stepped in, as the people who lent the money surely we own the property, is it possible to repossess before the team at lendy do a runner. This reminds me of a song only I can't recall what it is called, remember the last line is. 'Don't bother, they're here.
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agent69
Member of DD Central
Posts: 6,049
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Post by agent69 on Sept 29, 2018 20:18:15 GMT
I agree with all the underhand dealing of late (trustpilot and twenty promises of repayment )It's obviously time we stepped in, as the people who lent the money surely we own the property, is it possible to repossess before the team at lendy do a runner. This reminds me of a song only I can't recall what it is called, remember the last line is. 'Don't bother, they're here.
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Post by Badly Drawn Stickman on Sept 29, 2018 21:01:06 GMT
This reminds me of a song only I can't recall what it is called, remember the last line is. 'Don't bother, they're here.
Indeed that is the one (I was just tempering my insult really)
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Oct 1, 2018 11:30:15 GMT
As predicted nothing happened. In fact worse, it seems back to square one.
The negotiated settlement sum was agreed on 20th July, and it has taken until this month for the deal to collapse because of the valuation.
I wonder what this valuation would have said, if it isn't even enough to get a (presumed) discount?
Surely a build out isn't going to be a realistic option with the ransom strip still in play.
It looks like the most viable option is the current: just kick the can down the road forever.
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GeorgeT
Member of DD Central
Posts: 1,322
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Post by GeorgeT on Oct 1, 2018 11:44:20 GMT
As predicted nothing happened. In fact worse, it seems back to square one. The negotiated settlement sum was agreed on 20th July, and it has taken until this month for the deal to collapse because of the valuation. I wonder what this valuation would have said, if it isn't even enough to get a (presumed) discount? Surely a build out isn't going to be a realistic option with the ransom strip still in play. It looks like the most viable option is the current: just kick the can down the road forever. Yes that is how I felt after reading it. There seems to have been a 360-degree turn back to where we were six months or one year ago. As you say, with the alleged ransom strip the build-out scenario is not an option and was explored fully about a year ago and then binned. It looks as though they are just going to keep regurgitating the same things over and over again as part of an eternal kicking the can down the road exercise so they don't have to put their hands in their pockets and pay back the lenders who lent to THEM and not the end borrower. Remember this was not a P2P loan in its pure form. It's got to the point now that every time I read an update from Lendy I just don't believe a word of it because it invariably turns out to be false and never happens and you can forever be getting your hopes up of getting some money back but of course you never see it. I think I will just mentally write off the bit I've got left stuck in LY and not bother logging into the website or reading the updates again unless I get an email telling me the Devon loans have repaid in which case I will be logging in like a rat up a drainpipe in order to withdraw my money from the platform.
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orvilorvil
Member of DD Central
Posts: 67
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Post by orvilorvil on Oct 1, 2018 11:48:38 GMT
So the new finance fails.
Now looking at build out...... wasn't this done 13/04/18, where has the information from that proposed build out gone? Nothing has changed with the site?
Meanwhile the site degrades over a second winter.
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Post by charliebrown on Oct 1, 2018 12:28:33 GMT
Lendy are truly finished. Anyone who still thinks they’re doing ok is smoking crack. No one with any sense would touch Lendy with a bargepole at this stage. Anyone who has dropped cash into Lendy Wealth (I suspect very few) must have a screw loose. The borrowers must all be waiting on the sidelines for the inevitable.
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averageguy
Member of DD Central
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Post by averageguy on Oct 1, 2018 12:34:14 GMT
I’m in DFL002 which now can’t be sorted until this one ..it’s all a pile of pooh
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xpubman1
Member of DD Central
Posts: 62
Likes: 40
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Post by xpubman1 on Oct 1, 2018 12:36:35 GMT
As usual Twam, you post nothing constructive, I doubt you have anything better to do?
I do however agree with you, but it is all empty comment.
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mj
Posts: 37
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Post by mj on Oct 1, 2018 12:59:44 GMT
As usual Twam, you post nothing constructive, I doubt you have anything better to do? I do however agree with you, but it is all empty comment. If we were limited to constructive comments on this debacle there would be no comments at all.
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