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Post by douganole on Jul 26, 2018 16:42:35 GMT
I wish Lendy just did this from the beginning IMO the voting is pointless as amateurs don’t know what the best thing to do is. Unlike Lendy - the professionals - ha!
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69m
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Post by 69m on Jul 26, 2018 16:48:23 GMT
Just seen it, what the hell is going on in that office? Edit: and more to the point who are Lendy listening too. Not the forum feedback prior to the vote and not the majority of the voters. Feels like someone with clout just picked up the phone and told them what was what. ( Wasn't me by the Way) Following last night's vote result, I reckon that Lendy has spent most of today taking phone calls from other borrowers demanding similar settlement deals to Option 1!
Lendy has made the right decision, but in a very odd way.
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dovap
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Post by dovap on Jul 26, 2018 16:51:23 GMT
prob told the 'developer' the good news that 11mill was enough and he said thanks 9mill it is then
#shambles
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averageguy
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Post by averageguy on Jul 26, 2018 16:58:02 GMT
I wish Lendy just did this from the beginning IMO the voting is pointless as amateurs don’t know what the best thing to do is. Speak for yourself ..I knew exactly what I was doing when voting ..or maybe the amateurs are Lendy
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averageguy
Member of DD Central
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Post by averageguy on Jul 26, 2018 17:08:18 GMT
Just seen it, what the hell is going on in that office? Edit: and more to the point who are Lendy listening too. Not the forum feedback prior to the vote and not the majority of the voters. Feels like someone with clout just picked up the phone and told them what was what. ( Wasn't me by the Way) Following last night's vote result, I reckon that Lendy has spent most of today taking phone calls from other borrowers demanding similar settlement deals to Option 1!
Lendy has made the right decision, but in a very odd way.
Well if they were taking phone calls rather than the call centre then it would be novel
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Post by picanto on Jul 26, 2018 17:10:18 GMT
I'm completely baffled. The way Lendy worded the vote, it appeared to me they favoured option 1 themselves. Option 1 won by a huge margin in the vote which makes it much easier for Lendy to go with option 1, but in the end Lendy decide to go with option 2 because "they have listened to investors" although the vote contradicts this. Anyway, C'est la vie, I'm sure Lendy know what they are doing.
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averageguy
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Post by averageguy on Jul 26, 2018 17:12:35 GMT
I'm completely baffled. The way Lendy worded the vote, it appeared to me they favoured option 1 themselves. Option 1 won by a huge margin in the vote which makes it much easier for Lendy to go with option 1, but in the end Lendy decide to go with option 2 because "they have listened to investors" although the vote contradicts this. Anyway, C'est la vie, I'm sure Lendy know what they are doing. I’m glad you are because i’m not ..but i’m watching with interest
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mikeh
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Post by mikeh on Jul 26, 2018 17:27:46 GMT
The only explanation of this mess that makes any sense to me is that someone explained to Lendy what "in full settlement" means.
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Carter
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Post by Carter on Jul 26, 2018 17:31:56 GMT
Just seen it, what the hell is going on in that office? Edit: and more to the point who are Lendy listening too. Not the forum feedback prior to the vote and not the majority of the voters. Feels like someone with clout just picked up the phone and told them what was what. ( Wasn't me by the Way) Following last night's vote result, I reckon that Lendy has spent most of today taking phone calls from other borrowers demanding similar settlement deals to Option 1!
Lendy has made the right decision, but in a very odd way.
Yup....or they contacted the borrower to confirm the refinance was on and he said....Yeh about that, things have changed, we'll need to reduce that a bit.
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Post by douganole on Jul 26, 2018 17:32:20 GMT
I'm completely baffled. The way Lendy worded the vote, it appeared to me they favoured option 1 themselves. Option 1 won by a huge margin in the vote which makes it much easier for Lendy to go with option 1, but in the end Lendy decide to go with option 2 because "they have listened to investors" although the vote contradicts this. Anyway, C'est la vie, I'm sure Lendy know what they are doing. Not necessarily true. It has been stated earlier in this thread that the vote was £ - weighed. Perhaps there were more individuals voting for option 2.
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Carter
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Post by Carter on Jul 26, 2018 17:37:08 GMT
I wish Lendy just did this from the beginning IMO the voting is pointless as amateurs don’t know what the best thing to do is. Replacing the word "amateurs" with the sentence "Lenders without any of the detail to make an informed decision" sits better with me.
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Post by brightspark on Jul 26, 2018 17:40:54 GMT
Lendy consult with lenders and then ignore the results of the consultation! Baffled - no! Surprised - no! Irked yes that the approach was adopted. 50% return in 18 months time? I am not holding my breath.
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michaelc
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Post by michaelc on Jul 26, 2018 17:43:00 GMT
My pure speculation is that whilst a larger number of loan dollars voted the way it did, the number of individuals voting for option 2 was much higher. I'm guessing that longer term, Lendy would prefer a larger base of smaller subscribers since that makes them less vulnerable than to a handful of big customers.
Another or additional possibility, is that they intended to do this all along so that if/when an increased offer comes through folk will be even happier (and especially with Lendy) than had otherwise been the case.
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TonyL
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Post by TonyL on Jul 26, 2018 17:49:30 GMT
Well now I feel dumb. I was so convinced that option 1 was a fait accompli that, on Monday, I sold my entire Lendy loans (notwithstanding £10k is suspended and £10k is in long SM queues) in case a mass exodus followed.
If Lendy is now minded to stand up for Lenders' rights and not give in to these chancers, then it appears I've possibly walked away too soon. It's a pity too because some of the loans I held were still long-dated and there's not many of those on the SM to pick back up.
Oh, well. Time to review my portfolio. There's still time to see how this all plays out. But right now, I think Lendy have taken the right stand.
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MarkT
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Post by MarkT on Jul 26, 2018 18:15:55 GMT
Maybe, after further consideration, they thought the moral hazard was just too great.
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