sarahcount
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Post by sarahcount on May 11, 2019 20:37:11 GMT
> The valuation report notes that on the date of their inspection that there are other large-scale derelict buildings along the cliff-top apparently awaiting development, with or without planning permission. It says that coupled with the fact that this site has remained undeveloped through three national housing booms, it is clear that the economics of development in this location remain precarious. I admire your determination to hold Lendy to account for this poor loan and their failure to take any enforcement action. I'm just pleased that I found this forum and noted the many red flags thrown down concerning this loan. The loan was fully funded though so there will be many investors suffering a very long wait for any return of their money. Comments on this forum nowadays tend to be about more recent failures such as Liverpool, Wolverhampton, etc but there are still long forgotten loans such as Gloucestershire still outstanding that get little mention. Hastings would be just another of these without your tireless reminders.
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Post by andygod1 on May 11, 2019 20:50:01 GMT
I have to agree Sarah, there were many warning about this loan on this bb, which I observed, and consequently gave it a very wide birth.
in my judgement it was the most risky of the lot.
I sympathise with anyone still in this loan, and my comiserations that they did not see the warnings on this thread.
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averageguy
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Post by averageguy on May 11, 2019 21:08:11 GMT
I have to agree Sarah, there were many warning about this loan on this bb, which I observed, and consequently gave it a very wide birth. in my judgement it was the most risky of the lot. I sympathise with anyone still in this loan, and my comiserations that they did not see the warnings on this thread. In Hastings was enough for me
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mary
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Post by mary on May 25, 2019 11:55:46 GMT
At least this loan will be finally call in!
714 days overdue, and still Lendy would take no action. I assume that whatever <redacted> the Borrower might have will hold no sway with the Administrators.
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sussexlender
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Post by sussexlender on Jun 26, 2019 12:49:31 GMT
Nothing happening on this waste site as of today.
The borrower is clearly not going to repay any of the cash or any of the outstanding interest, that we lent via the disreputable former P2P platform.
Many will doubt that the Administrators will achieve anything as this Borrower will probably just disappear from his head office (container) in the garden of a house in Canterbury or simply go into administration as well.
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sussexlender
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Post by sussexlender on Jul 26, 2019 13:40:15 GMT
The "update" does not amount to any real progress in taking back the site or putting it on the market.
This borrower has held out for over 719 days with no repayment and simply supplying excuse after excuse blindly accepted by the weak recoveries team at Lendy.
I fear the administrators / insolvency experts will not find this Borrower easy to locate as he and his "highly experienced" partners will no doubt disappear from their "container" office (probably aboard a yacht sponsored by Lendy) having taken our cash which was far in excess of the value of this waste site.
I predict the borrower will simply hide behind the limited liability status of his questionable company.
None of the other big scale projects they boasted about on their out of date web page appear to have started.
The receiver must now also go after the borrower, and Lendy, the surveyors and the solicitors who put this questionable borrower forward as a trustworthy individual.
Lendy and / or their paid professional advisors clearly failed to carry out sufficient due diligence on this shabby lot or the bit of land.
They should put the site up for sale immediately.
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sussexlender
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Post by sussexlender on Aug 12, 2019 18:57:17 GMT
Someone has removed bits of the laughable security fence.
This suspect borrower, and his 2 smug looking website partners, will all be well and truly away by now.
Some might ask if they will all be seen on a boat named "Unexplained Lendy Wealth"?
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sussexlender
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Post by sussexlender on Aug 15, 2019 10:18:37 GMT
As predicted, this suspect developer and his team have abandoned their luxury "container" office in Canterbury and have moved to Poole. More details on Lendy DD.
Hope the administrators are aware and chasing them.
How we could be given several up dates from Lendy that they were discussing the sale of the land to various interested parties when they had taken no steps to recover it is a real mystery.
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Post by billy169 on Aug 15, 2019 10:44:16 GMT
Well in my personal opinion..lendy and some borrowers are in this together..anyone fancies sueing me for saying that..good luck..I'm skint.
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mary
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Post by mary on Aug 22, 2019 15:33:46 GMT
As predicted, this suspect developer and his team have abandoned their luxury "container" office in Canterbury and have moved to Poole. More details on Lendy DD. Hope the administrators are aware and chasing them. How we could be given several up dates from Lendy that they were discussing the sale of the land to various interested parties when they had taken no steps to recover it is a real mystery. Seems that the Borrower knows how to contact the Administrators as they’ve made an offer to settle. One assumes that the offer is below par, but how far below is unknown.
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Monetus
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Post by Monetus on Sept 18, 2019 19:08:45 GMT
Pleased to advise that this loan has refinanced. A glass of champagne tonight sussexlender ? |
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Post by billy169 on Sept 18, 2019 19:15:10 GMT
Bloody hell,,,I feel faint.!
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 18, 2019 19:26:26 GMT
A week ago! Some people havent been paying attention. 
Cant say Ive been monitoring this one as other seemed to be keeping a close eye. Wont happen again 
Monetus full refinace including interest, bonus or a deal? (If not NDA)
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IFISAcava
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Post by IFISAcava on Sept 18, 2019 19:56:14 GMT
but if none of the others pay back then will this just go to the administrator to cover fees? Presumably they have to get their money from somewhere.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 18, 2019 19:58:47 GMT
but if none of the others pay back then will this just go to the administrator to cover fees? Presumably they have to get their money from somewhere. Its a model 2 loan, ie not an asset of Lendy, admin have no claim on it other than the serviceing fee which is set at 3%.
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