mary
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Post by mary on Oct 27, 2017 16:14:00 GMT
So if this loan has experienced "... a technical event of default under the terms of the loan facility", why isn't it moved to the DEFAULT LOANS tab? This seems very misleading - it appears to be still possible to buy parts of it. Or suspended surely?
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GeorgeT
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Post by GeorgeT on Oct 27, 2017 16:18:04 GMT
They seemed to set a precedent with these technical events of default by not defaulting or suspending the Norfolk/Suffolk hotel loans 2 weeks ago. Based on today's updates those are still in technical default but not suspended either.
I suspect because the list of 'bad' loans is growing fast they need to find reasons not to suspend or default or else the loan book will resemble a bloodbath.
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Post by picanto on Oct 27, 2017 17:13:04 GMT
I would have thought this loan will be suspended based on the recent update but I'm really hoping it doesn't become suspended. I'm desperate to sell and at 12% with 90 days still available, I'm sure people will still be tempted to buy. What I'm wondering though is if you are in the sale queue and Lendy decide to suspend the loan, do you still not get paid any interest? It doesn't seem fair if you are in the sales queue but can't sell due to a suspension; yet not getting paid any interest either.
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mary
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Post by mary on Oct 27, 2017 17:19:55 GMT
I would have thought this loan will be suspended based on the recent update but I'm really hoping it doesn't become suspended. I'm desperate to sell and at 12% with 90 days still available, I'm sure people will still be tempted to buy. What I'm wondering though is if you are in the sale queue and Lendy decide to suspend the loan, do you still not get paid any interest? It doesn't seem fair if you are in the sales queue but can't sell due to a suspension; yet not getting paid any interest either. If you are in the sale queue and the loan is suspended you can cancel the sale request, but Lendy do not appear to do this automatically (which, of course, they should). And they also do not tell you that the loan is suspended, you have to notice by reading all your updates, or seeing it here!
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Post by martin44 on Oct 27, 2017 21:40:38 GMT
Can't seem to find a thread for this one anywhere, still 90 days to go and not a very positive update.  info.... Please note that this loan will be repaying PBL122,,, cant find pbl122 ... what am i missing? Xed with @new2p2p ..... Thanks. |
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Post by martin44 on Oct 27, 2017 21:49:17 GMT
@new2p2p thanks.... you seem to get there faster than i can type.  Top man.  |
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mikes1531
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Post by mikes1531 on Oct 28, 2017 13:12:57 GMT
I would have thought this loan will be suspended based on the recent update but I'm really hoping it doesn't become suspended. I'm desperate to sell and at 12% with 90 days still available, I'm sure people will still be tempted to buy. What I'm wondering though is if you are in the sale queue and Lendy decide to suspend the loan, do you still not get paid any interest? It doesn't seem fair if you are in the sales queue but can't sell due to a suspension; yet not getting paid any interest either. If you are in the sale queue and the loan is suspended you can cancel the sale request, but Lendy do not appear to do this automatically (which, of course, they should). I thought I read somewhere that Lendy said recently that if a loan was suspended interest would automatically start accruing again, and that if the loan subsequently were to be unsuspended then any parts that had been in the queue during the suspension would retain their position in the queue. Am I misremembering?
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Post by GSV3MIaC on Oct 28, 2017 13:54:23 GMT
I don't remember that, so maybe (if you can't find a quote) that is wishful thinking. It is what ShOULD happen, so it is almost certainly not what does happen. Of course if they didn't stop interest on 'for sale' parts this would be yet another problem they would not have inflicted on the world (and themselves).
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warn
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Curmudgeon
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Post by warn on Oct 28, 2017 14:37:36 GMT
... maybe (if you can't find a quote) that is wishful thinking... The way things are going, it's probably wishful thinking even if you can find a quote.
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Post by lendinglawyer on Oct 30, 2017 7:43:57 GMT
I like how this is a “technical” default, when non payment is the most serious of defaults... Especially when it’s 50% of the capital! So will this “formally” default 180 days after Oct 25th when this payment was due, or 180 days after the end of term? Hmmmmm. I’m not a fan of shotgun defaults but sometimes they happen. It should at least be suspended - as noted above people are still piling in at 12% and 90 ish days.
Most serious issue here is the Oct 25th payment date should have been disclosed to investors up front. As should all material deviations to standard practice. And not with throwaway likes r only 6 months interest retained etc - in big red text like positive exceptions like cashback.
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elsee
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Retired:D
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Post by elsee on Nov 1, 2017 11:47:37 GMT
Suspended 1/11/17 see updates.
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Post by spareapennyor2 on Nov 1, 2017 11:47:43 GMT
1/11/17 suspended
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dp
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Post by dp on Nov 1, 2017 12:12:39 GMT
Oooch - looking at investor activity, a fair few have chipped in today.
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ped
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Post by ped on Nov 1, 2017 12:20:50 GMT
Anyone holding this loan may want to check the update 28/09/17 in light of the recent loan suspensions. 50% of the loan is to be repaid by Friday (which doesn't appear to have been mentioned in the loan overview). - You called it a few weeks ago. Impressive. I got out nicely last week. cheers
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dovap
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Post by dovap on Nov 1, 2017 12:31:00 GMT
looks like it had a decent morning on the sm before it was vanished
guess it'll get the sm down a bit more if stuffs keeps floating off into the ether
ho hum
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Top man. 
