elliotn
Member of DD Central
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Post by elliotn on Aug 10, 2018 12:01:38 GMT
Since I’m desperately trying to exit Lendy I see this as 65% gained rather than 35% lost. Having said that, I think this illustrates exactly why LY is a bad “investment”. Everyone from the borrower, to the Lawyers, to the agents and of course LY are all winners, yet poor hapless investors take all the losses. This was meant to be a simple PBL with a low LTV. Badly managed, shrouded in secrecy and seemingly incompetence. Everyone comes out on top apart from investors. Looking at the loanbook it looks like the capital losses and investor pain is going to start tricking through. I'm not sure I'd ever call holiday lodges a "simple PBL", quite niche compare to city residential.
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Post by charliebrown on Aug 10, 2018 12:51:06 GMT
Since I’m desperately trying to exit Lendy I see this as 65% gained rather than 35% lost. Having said that, I think this illustrates exactly why LY is a bad “investment”. Everyone from the borrower, to the Lawyers, to the agents and of course LY are all winners, yet poor hapless investors take all the losses. This was meant to be a simple PBL with a low LTV. Badly managed, shrouded in secrecy and seemingly incompetence. Everyone comes out on top apart from investors. Looking at the loanbook it looks like the capital losses and investor pain is going to start tricking through. I'm not sure I'd ever call holiday lodges a "simple PBL", quite niche compare to city residential. I think it should have been simpl(er) than a 4.3m valuation and a 1.9m sale. There’s definitely some funny business surrounding this loan and we are being asked to pay for it.
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elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
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Post by elliotn on Aug 10, 2018 13:51:40 GMT
I'm not sure I'd ever call holiday lodges a "simple PBL", quite niche compare to city residential. I think it should have been simpl(er) than a 4.3m valuation and a 1.9m sale. There’s definitely some funny business surrounding this loan and we are being asked to pay for it. Unless you have evidence to the contrary accusations such as “definitely funny business surrounding this” needlessly opens you up to libel. From your unremitting remorselessness on this board you should now have enough investment experience to know that distressed sales can quite easily achieve half their market value or less. That’s more an economic fact than proof of criminal intent.
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Post by charliebrown on Aug 10, 2018 13:54:07 GMT
I think it should have been simpl(er) than a 4.3m valuation and a 1.9m sale. There’s definitely some funny business surrounding this loan and we are being asked to pay for it. Unless you have evidence to the contrary accusations such as “definitely funny business surrounding this” needlessly opens you up to libel. From your unremitting remorselessness on this board you should now have enough investment experience to know that distressed sales can quite easily achieve half their market value or less. That’s more an economic fact than proof of criminal intent. Once they give me my money back they can sue me for libel. Add me to the claims underway page.
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Post by patright on Aug 11, 2018 5:04:09 GMT
What happened to the "reserve fund" they are suppose to have
couldn't they at least take those fees out of that fund? After all the wrong valuation is not investor's fault
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rocky1
Member of DD Central
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Post by rocky1 on Aug 11, 2018 7:17:05 GMT
The PF fund if it actually does exists could be used towards all these costs for the 20/30 loans that are still going through all this legal  .at the moment all it is doing is earning lendy a lot of money in interest and being used as part of their marketing.at least this would help to cut the capital losses for all investors in these loans.as for interest and IA that was just a dream. This whole P2P business just stinks and lendy are blocking up the sewers |
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rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
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Post by rocky1 on Aug 12, 2018 14:42:03 GMT
I would really like an explanation as to why Lendy went with an agent charging 3.7% Let alone the other charges. But then I would like a lot of explanations from Lendy but won't get bugger all. TBH I am glad I have something back and it's another one that gets me further away from this shower of sh;te. Lendy T and Cs clause 9.6 appears to me that at their discretion lendy themselves are acting as the agents on our behalf .i maybe wrong but nothing would surprise me from a company with no morals or ethical understanding of the way they are running this business
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Post by patright on Sept 14, 2018 7:49:45 GMT
another loan nothing short of ridiculous, communication is catastrophic, people are loosing money left and right and when any money is recovered..well it's for Lendy's fees
wow I would love to get paid that much to be that incompetent
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elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
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Post by elliotn on Sept 14, 2018 14:46:46 GMT
another loan nothing short of ridiculous, communication is catastrophic, people are loosing money left and right and when any money is recovered..well it's for Lendy's fees wow I would love to get paid that much to be that incompetent You can post any due diligence you may have completed in DD Central.
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.at the moment all it is doing is earning lendy a lot of money in interest and being used as part of their marketing.at least this would help to cut the capital losses for all investors in these loans.as for interest and IA that was just a dream. This whole P2P business just stinks and lendy are blocking up the sewers