jwatson
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Post by jwatson on Aug 30, 2018 18:53:50 GMT
Yes, I'm sure if there was any prospect at all of a repayment today or tomorrow they would have held back the latest tranches of DFL019 etc to try and hoover up the repayment proceeds. But I hope I'm wrong.
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sussexlender
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Post by sussexlender on Aug 31, 2018 8:23:50 GMT
Time is up Lendy.
It is the last day of August 2018. Where is the repayment promised in July then August? Please don't tell us you meant August 2019 but forgot to put the date in the last few entries in the monthly BS.
You have 2020 previously loyal investors that have now been spun along for - 447 days with no interest paid and your failure to secure the return of the initial capital. Sill nothing to show from the borrower.
No doubt you will simply regurgitate another suspect excuse from the borrower in this months non update.
You have spent a lot of time trying to promote the rapidly declining Lendy Wealth Magic box; from your website potential investors can now see that you have suddenly reduced the minimum to £10,000 down from £50,000.
I wonder why that could happen and why you have not made this 80% reduction known to the press in a blaze of publicity?
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Monetus
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Post by Monetus on Aug 31, 2018 15:01:42 GMT
"We have been advised that the refinance to fully repay the loan is being arranged through a Joint Venture structure, rather than via traditional loan, and is therefore taking longer to finalise than expected. It is now considered unlikely that the loan will be fully repaid until nearer the end of September and we will be in close contact with the borrower to monitor this."
I may be missing a trick here but isn't this something that should/would have been picked up on from the beginning?
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Balder
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Post by Balder on Aug 31, 2018 15:04:25 GMT
So how close was the contact to only realise this in the last 2 weeks...............lendy can you define what you consider to be "close" not sure it is the same as the rest of us!
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sussexlender
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Post by sussexlender on Aug 31, 2018 15:15:24 GMT
This is the exact same trick this highly suspect borrower pulled in July / August 2017 i.e. the surprise Joint venture concept with nothing to back it up. Any one can claim they have a backer until they get required to prove it.
Looking back over the updates we can clearly see that it was discovered in August 2017 there was no evidence of such a scheme and Lendy stated they were commencing proceedings. They failed to do.
Here we are one whole year on and the very same absurd excuse has been played again. Once is misfortunate, twice is deliberate.
How many more times can this borrower be allowed to make fools of all the investors?
Lendy recovery is a fiasco. Lendy = wave good by to your cash / retirement fund.
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Monetus
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Post by Monetus on Aug 31, 2018 15:20:42 GMT
This is the exact same trick this highly suspect borrower pulled in July / August 2017 i.e. the surprise Joint venture concept with nothing to back it up. Any one can claim they have a backer until they get required to prove it.
Looking back over the updates we can clearly see that it was discovered in August 2017 there was no evidence of such a scheme and Lendy stated they were commencing proceedings. They failed to do.
Here we are one whole year on and the very same absurd excuse has been played again. Once is misfortunate, twice is deliberate.
How many more times can this borrower be allowed to make fools of all the investors?
Lendy recovery is a fiasco. Lendy = wave good by to your cash / retirement fund. You've got a good point there! 21/07/2017: "Borrower has advised that they now have a Joint Venture partner who will be injecting cash in the short-term to fully repay the loan. Funds expected within next few weeks and documentary evidence requested."04/08/2017 "The borrower has now provided Heads of Terms from another funder to provide development finance, but no evidence of funds from Joint Venture partner and as such we are commencing recovery proceedings"We've gone from almost certainly being paid in July, to "unavoidable legal issues", to delays due to a JV structure. What's next I wonder?
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Post by Deleted on Aug 31, 2018 20:50:30 GMT
I sometimes think I'm only still in Lendy with a token amount of my overall for the thrill and perhaps most of all the absolutely cracking stories surrounding their loans and borrowers! I'm far from convinced it's investing anymore. There have been many classics, but this little gem of endless excuses which have gone on so long they are now in rotation, with the original excuses now being used for a second time as fantastically highlighted by sussexlender and displayed by Monetus is utterly absurd. Lendy really do have a habit of making themselves look amateurish compared to these cowboys but buying the same stories twice 😂, now I really should think about leaving entirely .... if only it wasn't all so comically bad. Perhaps as I don't bet at the weekends or hit the casino's for nights out I'll hang around and call it my gambling budget .... with free entertainment thrown in. |
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sussexlender
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Post by sussexlender on Sept 7, 2018 19:17:38 GMT
Here we are in September.
Repayment promised in July - not fulfilled / bad luck;
Repayment promised in August - total failure / deliberate spin by the borrower?.
New promise of a surprise unidentified Joint Venture. This excuse was used exactly a year ago = nothing shown on paper = track record of failed promises = demonstrable nonsense.
Went past this site today. Graffiti / old circus posters on some of the boards and part of the fence has fallen down. No maintenance being carried out. So much for the highly experienced developer.
Is this a sign of the super new Lendy "reduced fat" Wealth account, now offered to the not such high net investors, at the bargain price of £10,000.
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sussexlender
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Post by sussexlender on Sept 17, 2018 11:21:08 GMT
Update
1. No repayment has been made so far this month and no interest has been paid to investors.
2. Nothing has been forthcoming from the Joint Venture - exactly as per the same "Groundhog day" excuse used 12 months ago.
3. The weeds are doing very nicely in the sunshine on this plot of land.
4. Lendy are treating the investors in this suspect loan as idiots.
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sussexlender
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Post by sussexlender on Sept 22, 2018 19:03:52 GMT
Only 5 working days left for the boastful management at Lendy to fulfil their promise to get this loan fully repaid.
Many investors may think that once again there will be no evidence of any Joint Venture (exactly as happened 14 months ago) and Lendy will simply inform all the unimportant little people investors that payment will be in October / then November; December; 2019 / 2020 etc.
It is obvious that Lendy have allowed this loan to become a total shambles with the borrower calling the shots and doing nothing to develop the site or pay investors the outstanding capital or interest.
Some might question if there is something going on behind the scenes at Lendy that rsults in giving this suspect borrower lots more time for no apparent reason?
Take action now Lendy, as the weeds are growing on this ugly plot of land, just as they appear to be in your magical garden at Lendy Wealth.
PS Have you dropped the Leady Wealth qualifying amount down from the original minimum of £50,000 (then rapidly reduced by 80% to £10,000) to £1,000 yet due to vast demand?
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sussexlender
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Post by sussexlender on Sept 25, 2018 21:38:29 GMT
Full repayment with all interest due by the end of July / then August and now September - with only 3 working days to go.
Who / where is the mystery JV this time?
You can almost imagine the over worked script writers at Lendy trying to think up new excuses to make this time e.g. the JV owner has been taken ill in an fish and chip restaurant / been attacked by seaweed / been buried under herring gull guano during a site inspection / been subject to an assignation (add- or assassination) attempt by the Russian secret service / are working tirelessly to think of new ways to avoid making any payments / died laughing at how easy it is to pull the wool over the incompetent managers at Lendy etc, etc.
Or perhaps not in this case because we have already gone back a full 13 months to the same rubbish about a JV. They might use the good old parliamentarian phrase "we refer all our trusting investors to the garbage we swallowed from this wonderful borrower and then regurgitated over a year ago".
Take possession of this site now. At least it might fetch some cash if it was sold to the local residents as a nature reserve.
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Post by bracknellboy on Sept 25, 2018 21:44:41 GMT
....been subject to an assignation attempt by the Russian secret service ...
otherwise none as a honey trap ?
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sussexlender
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Post by sussexlender on Sept 26, 2018 8:45:46 GMT
Hi Lendy
How about a few more obvious fake reviews on Trustpilot from Canada / India (see thread above) telling investors about the wonders of Hastings pier (and the desirability of this plot of waste land), to excuse the unacceptable handling of this loan?
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sussexlender
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Post by sussexlender on Sept 28, 2018 13:55:52 GMT
Time is up today.
What feeble excuse will Lendy give us in the next Non update? Place your bets.
Current favourite is " Most unfortunately, the Joint Venture has just disappeared, exactly as happened a year ago, but don't worry we promise to fall for the same excuse in another 12 months; in the meantime investors can get stuffed, we thank you all so very much for your cash and for your patience"
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zccax77
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Post by zccax77 on Sept 28, 2018 14:09:05 GMT
I have already written down my investment in this by 70%, suggest you do the same. After yesterdays news on DFL017 I have decided to prepare for the worst on my entire portfolio (though I still think a recovery on DFL017/16 will be significant). Lendy have lent our money to a bunch of crooks and chancers.
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