seeingred
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Post by seeingred on Aug 20, 2017 20:19:08 GMT
How far is the building away from final completion? Puzzled by no extension to the loan.
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mary
Member of DD Central
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Post by mary on Oct 5, 2017 11:16:40 GMT
So loan is at -70 days, and this still appears months from completion?
Confused.
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Post by Badly Drawn Stickman on Oct 9, 2017 17:07:54 GMT
Is this the one now listed on another popular site?
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Post by Badly Drawn Stickman on Oct 9, 2017 17:29:47 GMT
No, but it's just down the street from it.  Thank you, that's half my DD done already. No need for this new 'Sorting Hat' thing at all really.
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stokeloans
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Post by stokeloans on Oct 20, 2017 14:22:47 GMT
2 months have passed.
As of 3pm today, nobody on site and to my untrained eye no discernible difference to my last visit
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seeingred
Member of DD Central
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Post by seeingred on Oct 20, 2017 14:25:16 GMT
2 months have passed. As of 3pm today, nobody on site and to my untrained eye no discernible difference to my last visit
We are ALL interested, despite what you might like to tell us to the contrary.
Any update please?
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TitoPuente
Member of DD Central
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Post by TitoPuente on Oct 27, 2017 18:50:34 GMT
Unclear update.
This should be an easy recovery case at 49% LTV or am I missing something?
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hazellend
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Post by hazellend on Oct 27, 2017 20:19:47 GMT
Unclear update. This should be an easy recovery case at 49% LTV or am I missing something? Might need some additional funding to complete, which would increase LTV. No idea, who knows with Lendy.
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SteveT
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Post by SteveT on Oct 27, 2017 20:21:23 GMT
There seem to be a fair few people suddenly keen to give up on their bonus accrued interest
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elliotn
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Post by elliotn on Oct 28, 2017 5:48:27 GMT
Unclear update. This should be an easy recovery case at 49% LTV or am I missing something? 49% was Day 1 ltv so if the borrower continued development using buyer deposits per the Overview then Ly's 1C ltv could be significantly lower by now.
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hazellend
Member of DD Central
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Post by hazellend on Oct 28, 2017 7:27:35 GMT
Unclear update. This should be an easy recovery case at 49% LTV or am I missing something? 49% was Day 1 ltv so if the borrower continued development using buyer deposits per the Overview then Ly's 1C ltv could be significantly lower by now. Good point I forgot this was a PBL
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garfield
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Post by garfield on Oct 28, 2017 7:43:40 GMT
And don't forget there was a repayment, ref PBL120R1, on August 16: £298,443.
I'm still waiting for some interest on that one, including Bonus Accrual.
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r1200gs
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Post by r1200gs on Oct 28, 2017 8:03:23 GMT
2 months have passed. As of 3pm today, nobody on site and to my untrained eye no discernible difference to my last visit
We are ALL interested, despite what you might like to tell us to the contrary.
Any update please?"We have received a note from the borrower explaining that they are struggling with completion of the development. We are liaising closely with the borrower to investigate the situation. In the meantime we will provide an ad-hoc update when further information is received."
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locutus
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Post by locutus on Oct 28, 2017 11:10:31 GMT
Going from the latest pics alone, if someone offered me this site for the outstanding loan amount, I'd bite their hand off. In addition to this, the borrower is related to DFL012 and is unlikely to want to sour the relationship with Lendy over such a trivial amount of money. Having said that, I am overweight in this loan so I'm trimming my exposure but overall, I'm not concerned by the security value.
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fp
Posts: 1,008
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Post by fp on Oct 28, 2017 11:31:48 GMT
This is probably one loan on Ly that I wouldn't be losing too much sleep over if I was invested in it, genuinely low LTV and the developer has a decent track record.
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