southport
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Post by southport on Nov 21, 2017 2:22:22 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?? I suspect the £300k backlog may be significantly larger after cashback is paid
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sarahcount
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Post by sarahcount on Nov 21, 2017 15:28:52 GMT
E-mail to say tranche going live tomorrow with 1% cashback.
Form an orderly queue.
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Doc
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Post by Doc on Nov 21, 2017 16:05:08 GMT
E-mail to say tranche going live tomorrow with 1% cashback.
Form an orderly queue.
No queues to buy into this one, but I suspect a very long one on the secondary market for those wanting to sell again.
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Post by GSV3MIaC on Nov 21, 2017 19:44:26 GMT
The launch email from Ly reads, to me, as slightly desperate. 8>.
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sarahcount
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Post by sarahcount on Nov 21, 2017 20:22:25 GMT
The launch email from Ly reads, to me, as slightly desperate. 8>. Careful what you wish for. We wanted honesty and openness. Now that Ly appear to be giving this to us we feel uncomfortable and wish that they'd painted a rosier picture to encourage others to invest. It is in all our interests to see this loan cross the line. Development to complete, investors to get paid out, confidence to return. Funds on the platform going into new tranches on all the other DFLs. As Ly say this is a key moment and we really need to see this loan and Paignton to complete successfully to restore some confidence. As I understand it this is an iconic building and the project is sound. It just needs the final push on the funding front.
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Post by skint4achange on Nov 21, 2017 20:28:21 GMT
Sarahcount: You are totally correct, except for one thing. What we really need is a DFL to go through to completion, LY to stop seeing the whole development through rose coloured glasses and a developer to actually understand that he is/they are not ripping off a big corporate bank but a group of small investors hoping to make a small amount of money by taking a risk on a developer that stands to gain a lot more through the multi million pound investment. Most people believe that they will wriggle out of in the later stages of the development which is why investment in later tranches is severely lacking. The lack of confidence is not some big conspiracy by money grabbing investors, it is caused by shyster developers.
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Post by GSV3MIaC on Nov 21, 2017 21:10:33 GMT
The launch email from Ly reads, to me, as slightly desperate. 8>. Careful what you wish for. We wanted honesty and openness. Now that Ly appear to be giving this to us we feel uncomfortable and wish that they'd painted a rosier picture to encourage others to invest. As I understand it this is an iconic building and the project is sound. It just needs the final push on the funding front. Nope, I don't feel any more uncomfortable than I did before - this one is on my doorstep, and I'm happy to continue to support it, but I do think Ly may have bitten off too many big DFLs, on the basis they could get the first 25% funded (needed to, to keep their investors happy), and are/will struggle to find the funds to finish them all. I was pretty close to my limit on this one after tranche 4 or 5, so even 1% isn't going to get much extra cash from me, especially since the chance of selling out (if I need to, which I currently don't) looks slim to none.
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stevio
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Post by stevio on Nov 21, 2017 21:18:53 GMT
Careful what you wish for. We wanted honesty and openness. Now that Ly appear to be giving this to us we feel uncomfortable and wish that they'd painted a rosier picture to encourage others to invest. As I understand it this is an iconic building and the project is sound. It just needs the final push on the funding front. Nope, I don't feel any more uncomfortable than I did before - this one is on my doorstep, and I'm happy to continue to support it, but I do think Ly may have bitten off too many big DFLs, on the basis they could get the first 25% funded (needed to, to keep their investors happy), and are/will struggle to find the funds to finish them all. I was pretty close to my limit on this one after tranche 4 or 5, so even 1% isn't going to get much extra cash from me, especially since the chance of selling out (if I need to, which I currently don't) looks slim to none. For someone not yet invested in this loan, what are the pros and cons?
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Post by skint4achange on Nov 21, 2017 22:01:17 GMT
Lendy have put so many people very close to major defaults on every DFL that nobody is now prepared to back a loan to completion. Because all DFL's are due to complete at the same time, and the ones that should have completed have not, investors are understandably very wary. Had Lendy actually done this gradually and exposed investors to high risk gradually rather than investors be opened up to large losses in a very short space of time, they may have been a bit more forgiving.
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markb
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Post by markb on Nov 21, 2017 22:26:21 GMT
Is it expected that the valuation doc link for tranche 11 doesn't work? Does it mean that "GDV remains unchanged" should be interpreted as "it didn't seem worth requesting an updated valuation"?
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mikes1531
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Post by mikes1531 on Nov 21, 2017 22:49:02 GMT
Does it mean that " GDV remains unchanged" should be interpreted as " it didn't seem worth requesting an updated valuation"? Either that, or "We couldn't be bothered to obtain an updated valuation."
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Post by p2plender on Nov 21, 2017 23:40:42 GMT
Lendy have put so many people very close to major defaults on every DFL that nobody is now prepared to back a loan to completion. Because all DFL's are due to complete at the same time, and the ones that should have completed have not, investors are understandably very wary. Had Lendy actually done this gradually and exposed investors to high risk gradually rather than investors be opened up to large losses in a very short space of time, they may have been a bit more forgiving. I warned (along with a few others) about this many moons ago. They had a massive pipe line for about 3 months, cleared everyone out - literally. I would expect big losses if you got involved at the peak, unless the great PF comes into its own...
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r1200gs
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Post by r1200gs on Nov 22, 2017 10:59:11 GMT
I'm also of the opinion that Lendy have taken on too many big DFL's but I feel that we've no alternative but to push this one over the line. I've set my prefunding.
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blueninja
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Post by blueninja on Nov 22, 2017 11:30:36 GMT
£2million seems a rather large tranche. I’m curious as to why the developer needs such a large amount all in one go. I think I’ll sit this one out.
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mary
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Post by mary on Nov 22, 2017 11:39:28 GMT
£1m is the cost (approx) of the interest for the 5 months extension!
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