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Post by loftankerman on Nov 11, 2017 15:15:11 GMT
The supplied photos on here make me feel it looks like a mega scale version of one of my DIY projects in the early stages rather than the late one we have been hearing about. We seem to have stopped hearing about practical completion and refinance and now it is just discussions with other funders to pay off the Lendy loan. I haven't tried to sell because it has long looked like it would have either paid up or gone down the pan before I got to the front a queue anyway. Well, it looks like any optimism for refinancing is off the cards as the finishing line comes into sight. As consolation 'Practical completion' is back in vogue just down the road, well a bit down the road, well somewhere down the road...probably. Okay, maybe.
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oldgrumpy
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Post by oldgrumpy on Nov 11, 2017 15:20:05 GMT
The picture here is from October 12.
Since then all the window frames and glass for the top two floors have been installed. Very smart they look too!
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hazellend
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Post by hazellend on Nov 11, 2017 16:48:16 GMT
I wish Lendy would add more photos it would really improve confidence.
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edward
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Post by edward on Nov 11, 2017 17:33:21 GMT
not necessarily....
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hazellend
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Post by hazellend on Nov 11, 2017 18:26:50 GMT
True, it would help in developments that are going well. Photos of a pile of rubble not so much!
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1stwaz
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Post by 1stwaz on Nov 11, 2017 20:23:36 GMT
I have a little money left in this that will get returned, I hope!
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Tunny
Sometimes it is the people no one imagines anything of who do the things that no one can imagine
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Post by Tunny on Nov 14, 2017 14:33:19 GMT
Remaining time now increased from 0 to 151 and some buying activity on the secondary market.
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rrrupert
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Post by rrrupert on Nov 14, 2017 15:03:37 GMT
There is 2m with 1% cashback listed now in the pipeline. Probably better to wait for that than buy without cashback on the secondary market.
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SteveT
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Post by SteveT on Nov 14, 2017 15:08:32 GMT
There is 2m with 1% cashback listed now in the pipeline. Probably better to wait for that than buy without cashback on the secondary market. The joys of cashback. It's like 2015 all over again!
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mary
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Post by mary on Nov 14, 2017 15:27:14 GMT
Remaining time now increased from 0 to 151 and some buying activity on the secondary market. I think Lendy are making up the rules again as they go, the change in days remaining is as per the agreed extension, but no where is it confirmed that the 5 months interest on the existing £12.5m loan has been received? See DFL06, where an extension of 3 months has been agreed, but only 1 months interest received, hence the expiry date was only moved 30 days! Obviously, I expect that they will deduct the interest required from the new tranche, but that has not yet been funded, and so the current situation is highly misleading (IMO).
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Tunny
Sometimes it is the people no one imagines anything of who do the things that no one can imagine
Posts: 30
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Post by Tunny on Nov 14, 2017 15:34:25 GMT
Remaining time now increased from 0 to 151 and some buying activity on the secondary market. I think Lendy are making up the rules again as they go, the change in days remaining is as per the agreed extension, but no where is it confirmed that the 5 months interest on the existing £12.5m loan has been received? See DFL06, where an extension of 3 months has been agreed, but only 1 months interest received, hence the expiry date was only moved 30 days! Obviously, I expect that they will deduct the interest required from the new tranche, but that has not yet been funded, and so the current situation is highly misleading (IMO). If that's the case (Im not suggesting it is or is not) is this legal, misleading investors in such a way?
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elliotn
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Post by elliotn on Nov 14, 2017 16:11:45 GMT
I think Lendy are making up the rules again as they go, the change in days remaining is as per the agreed extension, but no where is it confirmed that the 5 months interest on the existing £12.5m loan has been received? See DFL06, where an extension of 3 months has been agreed, but only 1 months interest received, hence the expiry date was only moved 30 days! Obviously, I expect that they will deduct the interest required from the new tranche, but that has not yet been funded, and so the current situation is highly misleading (IMO). If that's the case (Im not suggesting it is or is not) is this legal, misleading investors in such a way? I’m not sure showing remaining days is a legal requirement, it always used to be out of kilter, it’s more indicative - if it's in the terms and conditions you may be able to escalate via Lendy's complaints' procedure though.
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Post by d_saver on Nov 14, 2017 17:03:08 GMT
The shame here, on what I think is an otherwise great project is that apart from offering cash back, we don't really have a lot more information to encourage us to invest, do we Lendy Support? The only snippets I get from the latest update. The principal lender decided to not proceed (I guess we won't find out why, but at this stage, it does not bother me too much). They need a bit more funding than expected to complete (cool - it's a BIG project) Completion expected early December/ early January (not sure about that, but refinance, possibly) I can understand if some of these details might be negative to the loan there is a hesitation to release more info, but if there is anything else positive you can put forward in terms of progress, I would encourage you to do so. I like this loan, but would like to see an updated valuation (not just a quoted figure from yourselves), an upgrade on progress of the actual business as well as a basic plan of action to completion. I doubt anyone is listening, but in the event they are, Lendy Support, this is more important to me than 1% cash back...
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voss
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Post by voss on Nov 14, 2017 17:34:09 GMT
Lots more of this coming onto the SM. Are holders selling at 12% and hoping to buy back at (12+1)%?
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webwizard
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Post by webwizard on Nov 14, 2017 17:39:25 GMT
Remaining time now increased from 0 to 151 and some buying activity on the secondary market. I think Lendy are making up the rules again as they go, the change in days remaining is as per the agreed extension, but no where is it confirmed that the 5 months interest on the existing £12.5m loan has been received? See DFL06, where an extension of 3 months has been agreed, but only 1 months interest received, hence the expiry date was only moved 30 days! Obviously, I expect that they will deduct the interest required from the new tranche, but that has not yet been funded, and so the current situation is highly misleading (IMO). Hopefully there will be a catch up of unpaid interest at the end of the month.
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