oldgrumpy
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Post by oldgrumpy on Nov 14, 2017 17:57:26 GMT
Lots more of this coming onto the SM. Are holders selling at 12% and hoping to buy back at (12+1)%? I smell naïvety there. They will end up many tens of thousands of £ nearer to the back of the SM Q if (when) Lendy dump large amounts of unsold tranche eleven on the market ... in front of existing lenders trying to sell (and charging those lenders 1% in lost interest for every month of extra waiting).
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sl75
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Post by sl75 on Nov 15, 2017 8:26:58 GMT
Lots more of this coming onto the SM. Are holders selling at 12% and hoping to buy back at (12+1)%? I smell naïvety there. They will end up many tens of thousands of £ nearer to the back of the SM Q if (when) Lendy dump large amounts of unsold tranche eleven on the market ... in front of existing lenders trying to sell (and charging those lenders 1% in lost interest for every month of extra waiting). The SM queue gets split though - one queue for cashback, and a separate one for no cashback. I'd expect the unsold portion of tranche 11 to go into the cashback queue, leaving the queue position unchanged for non-cashback sellers. For those who get in the queue now, they'll be near the front of the queue at the start of next month once the two loans get merged (by which time surely Lendy will have managed to sell most if not all of the cashback tranche), getting ahead of the horde of sellers who've had their cashback and don't want the loan part any more, so it might not be as naïve as it first appears.
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mosaic
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Post by mosaic on Nov 15, 2017 11:29:03 GMT
sl75Can't see the point. Lose at least 0.5% interest from now till end of month, gain 1% from cashback, probably lose even more in the queue after end of month. Far too much unknown faffing for my liking.
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Carter
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Post by Carter on Nov 15, 2017 12:18:21 GMT
It could be seen as a small window for those who wanted out but saw little chance given the consistently high queue and long wait without interest. The extension period will make it more desirable to some I'm sure and there has been some buying, when the 1% queue gets merged anyone flipping will be at the back (hopefully). Interested to see the uptake on the new tranche.
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mikes1531
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Post by mikes1531 on Nov 17, 2017 2:25:59 GMT
Hopefully there will be a catch up of unpaid interest at the end of the month. webwizard: What unpaid interest? Since the remaining time never actually went negative ISTM that there shouldn't be any unpaid interest. What don't I understand?
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Post by p2plender on Nov 17, 2017 5:09:28 GMT
There's never been interest not paid on this loan.
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copacetic
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Post by copacetic on Nov 17, 2017 10:24:48 GMT
Looks like at least £90k in 4 £110k in 5 separate chunks by the same user bitten off this one this morning so someone is confident!
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Post by skint4achange on Nov 17, 2017 11:12:03 GMT
The same investor has taken at least £20k in DFL019 also. Maybe just a new investor to the platform???
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Post by spareapennyor2 on Nov 17, 2017 11:24:27 GMT
not waiting for tranche 11 then 1% C/B should this have been live by now?
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mikes1531
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Post by mikes1531 on Nov 18, 2017 17:52:11 GMT
not waiting for tranche 11 then 1% C/B should this have been live by now? The borrower won't want investors accruing interest any sooner than necessary, so I expect they won't ask for the money before they have suppliers clamouring for their bills to be paid. Or maybe Lendy are waiting until most -- or all -- of the tranche is pre-funded. (It wouldn't look very good for Lendy if the tranche isn't taken up by investors and a huge chunk of the tranche ends up on the SM as soon as the tranche goes live.) Or maybe Lendy are waiting for the borrower to sign the papers formalising the extension. But what I really don't understand is how Lendy can show an extended remaining time and the loan as IOA if the borrower hasn't remitted the interest to extend. Lendy Support: With the remaining time for this loan having been increased by five months very recently, the loan is now showing to be IOA. Inasmuch as the last tranche issued was over two months ago, where have the funds necessary to achieve this come from? Has the borrower supplied in advance the funds needed to cover the interest that will be paid in the next five months? If not, does this mean that the interest that's supposed to be on account for this IOA loan isn't really on account?
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Post by skint4achange on Nov 18, 2017 18:04:05 GMT
How do you know that the borrower has not paid the interest instalment?
The last update states that the days remaining will be updated once the borrower had paid the interest for the extension. Maybe they paid the extension interest just after the update was posted or even just before.
Considering some of the events that occur on these loans and no ad hoc update is posted, I really don't think they would consider "Receiving interest from the borrower" as worthy of them wasting their time writing an update??
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mikes1531
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Post by mikes1531 on Nov 18, 2017 18:20:57 GMT
How do you know that the borrower has not paid the interest instalment? I don't know -- because Lendy haven't kept us informed. But is does strike me as a bit odd if the borrower had sent nearly £1M -- £700+k as retained interest for investors plus an undisclosed amount of retained interest for Lendy -- to Lendy immediately before asking for a further £2M from Lendy. I've edited my posting to include some questions for Lendy Support and well see what they tell us. (I've also asked these same questions of Lendy Support directly.)
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1stwaz
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Post by 1stwaz on Nov 20, 2017 16:17:31 GMT
I am worried about this one - the crunch is coming and it is one of my larger remaining investments here. I was out of this but the 1% cashback and the quality of the equity means IMO that unless something unexpected happens like a black swan that it will repay so I will be funding the last tranche,
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Post by skint4achange on Nov 20, 2017 17:06:35 GMT
I am worried about this one - the crunch is coming and it is one of my larger remaining investments here. I was out of this but the 1% cashback and the quality of the equity means IMO that unless something unexpected happens like a black swan that it will repay so I will be funding the last tranche, Hmmmm......If I was suspicious, I would think that 1stwaz is one of the peeps caught up in the £300k backlog??
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1stwaz
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Post by 1stwaz on Nov 21, 2017 2:15:35 GMT
I was out of this but the 1% cashback and the quality of the equity means IMO that unless something unexpected happens like a black swan that it will repay so I will be funding the last tranche, Hmmmm......If I was suspicious, I would think that 1stwaz is one of the peeps caught up in the £300k backlog?? If you read carefully, I am not advocating investing in the original loan but tranche 11 but please make up your own mind.
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