cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
|
Post by cooling_dude on May 20, 2016 14:57:26 GMT
Maybe they are still checking Hulls valuation  That could explain a lot, including why they have been so silent on this forum recently  . It was due a week ago... maybe it's just really long..... ![]() 
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on May 20, 2016 16:41:45 GMT
Based on the fact that we got £300 for PBL097, we probably won't get any more than £100 each on this one.
Edit: I wish this was MT. I'd have probably won some chocolate for that!
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 20, 2016 17:25:48 GMT
Just gone live... A massive..... £100.00 Allocation  |
|
stokeloans
Member of DD Central
Posts: 402
Likes: 485
|
Post by stokeloans on May 20, 2016 17:41:07 GMT
Just gone live... A massive..... £100.00 Allocation me too
|
|
|
|
Post by grodecki on May 20, 2016 17:41:33 GMT
I like the influx of loans at the mo, letting me seriously rebalance and lower exposure. Still over exposed on those 4x loans of fields, mind.
|
|
stokeloans
Member of DD Central
Posts: 402
Likes: 485
|
Post by stokeloans on May 20, 2016 17:41:39 GMT
Based on the fact that we got £300 for PBL097, we probably won't get any more than £100 each on this one. Spot on 
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on May 20, 2016 17:54:04 GMT
Personally I think I would like a bit more info on what our money is actually going to be spent on, I know it's a miners club... That's it. how old,, valuation, state of repair etc etc . I suppose to some it may not matter what the money is spent on, but me personally, I'd like to know a bit more.  If it was a DFL yes, but as a PBL we as investors should mainly be concerned with the security. This a point I disagree on. The security is the second string. The first string is a workable business plan. In this case there's a couple of points about the security that make me uneasy. On the one hand I don't want to be in a position of ending up taking away a village's community centre and a charity's principal asset. On the other hand, it's a thin market, and there is a risk that there might be no buyers (compare AC's Welsh island PBL). Therefore even more than usual I want to be in a position to be reasonably confident that the borrower is capable of repaying the loan.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 20, 2016 18:03:48 GMT
If it was a DFL yes, but as a PBL we as investors should mainly be concerned with the security. This a point I disagree on. The security is the second string. The first string is a workable business plan. In this case there's a couple of points about the security that make me uneasy. On the one hand I don't want to be in a position of ending up taking away a village's community centre and a charity's principal asset. On the other hand, it's a thin market, and there is a risk that there might be no buyers (compare AC's Welsh island PBL). Therefore even more than usual I want to be in a position to be reasonably confident that the borrower is capable of repaying the loan. I don't disagree, and I did say mainly  ; I do always try and look into borrowers strategy as part of my DD, but there's not much you can look into. Also, once the borrower has the money, SS have little to no say what they actually do with it. As such, as investors I believe that we should look a worst case scenario, being the sale the security; which is why the value of said security is paramount with these PBLs. PBLs only; DFLs are another story...
|
|
|
|
Post by p2plender on May 20, 2016 18:12:26 GMT
£100 here  |
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on May 21, 2016 1:35:10 GMT
Personally I think I would like a bit more info on what our money is actually going to be spent on, I know it's a miners club... That's it. how old,, valuation, state of repair etc etc . I suppose to some it may not matter what the money is spent on, but me personally, I'd like to know a bit more. If it was a DFL yes, but as a PBL we as investors should mainly be concerned with the security. Think of it this way... The borrower has an asset valued at £300k. We lend them 70% of that value. If the borrower uses the money to refurbish an unrelated property, then when the PBL matures they have a debt that is 70% LTV of the security. If, OTOH, the borrower uses the money to refurbish/upgrade the property used as the security, then when the PBL matures they have a debt that ought to be less than 70% LTV of the security -- because the value of the security ought to have increased as a result of the work done. I'd certainly rather be in the latter situation than the former one. I do realise that the borrower can do what they like with the money once they draw down the loan, but I'd still prefer that any money borrowed is used to enhance the value of the security rather than being used for unrelated purposes.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 21, 2016 1:51:19 GMT
If it was a DFL yes, but as a PBL we as investors should mainly be concerned with the security. Think of it this way... The borrower has an asset valued at £300k. We lend them 70% of that value. If the borrower uses the money to refurbish an unrelated property, then when the PBL matures they have a debt that is 70% LTV of the security. If, OTOH, the borrower uses the money to refurbish/upgrade the property used as the security, then when the PBL matures they have a debt that ought to be less than 70% LTV of the security -- because the value of the security ought to have increased as a result of the work done. I'd certainly rather be in the latter situation than the former one. I do realise that the borrower can do what they like with the money once they draw down the loan, but I'd still prefer that any money borrowed is used to enhance the value of the security rather than being used for unrelated purposes. What you say rings true... likewise, if the money is used to " improve" the actual security (and is a PBL), then that improvement could also "decrease" (temporarily or in a worst case scenario permanently) the LTV. You know, I've changed my mind... After your ( mikes1531 ) comment, and thinking about it myself (with the above comment) I do think it is important (maybe even essential) to look into the borrowers strategy when doing DD.
|
|
|
|
Post by earthbound on May 21, 2016 2:41:09 GMT
I know it's now gone live and probably not much use to anyone, I didn't like this one so stayed away, think I'm glad I did. £210k might not cut the mustard.
<mod removed link as it led to borrower identification>
Edit.. Aaa sorry, didn't see that.
|
|
|
|
Post by baglan on Nov 22, 2017 17:59:07 GMT
Partially repaid? What impact does this have for future interest payments?
|
|
1stwaz
Member of DD Central
Posts: 57
Likes: 29
|
Post by 1stwaz on Nov 22, 2017 18:59:52 GMT
Partially repaid? What impact does this have for future interest payments? Given the loan is 'Interest Accruing' it means that the rate at which the monies owed by borrower to the lenders increases, will slow down. Slightly. (Assuming Lendy disburse the c. £15k to the lenders, who should see 7% of their capital repaid imminently.) Even part repayment should be considered a positive move and show that Lendy are being active.
|
|
|
|
Post by baglan on Mar 15, 2018 11:55:43 GMT
Paid in full but no bonus accrual. It's probably been asked before but what's the point of suggesting a bonus accrual if it's not (ever) going to be paid?
|
|
. It was due a week ago... maybe it's just really long.....
; I do always try and look into borrowers strategy as part of my DD, but there's not much you can look into. Also, once the borrower has the money, SS have little to no say what they actually do with it. As such, as investors I believe that we should look a worst case scenario, being the sale the security; which is why the value of said security is paramount with these PBLs.
