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Post by loftankerman on Feb 21, 2018 17:45:44 GMT
Yeah, mine has dropped too, which surprises me. I have been expecting it to disappear altogether. Still there's plenty of time for that to happen.
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Post by picanto on Feb 21, 2018 19:25:38 GMT
My bonus interest for this loan has dropped from about £25 to £17.24 and the bonus accrual was about 0.7% and now is 0.5% . Has anybody else's bonus interest dropped and if so...why? Edit - unless they've changed the T&Cs and not bothered to tell anyone? If that's the case, then Lendy really aren't doing themselves any favours. Changing the goalposts without letting people know just reinforces what people say that Lendy's communication with their investors is nothing short of appalling.
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Post by p2plender on Feb 22, 2018 1:09:09 GMT
There are plenty moaning about how Lendy 'conducts' its business these days, yet there are plenty still willing to stay/twist/add to the platform. Apart from Wolves, I'm well and truly out, finished with Lendy. If Wolves pay then I won't have lost - although no ones 'lost not a penny' cough, splutter, laugh.. The updates are a farce. Could, should, maybe, might. Ultimately though, it is the 'investors' that keep the platform alive and allow the farce to continue. For now, there are still plenty of willing investors.
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hazellend
Member of DD Central
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Likes: 2,180
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Post by hazellend on Feb 22, 2018 9:31:47 GMT
There are plenty moaning about how Lendy 'conducts' its business these days, yet there are plenty still willing to stay/twist/add to the platform. Apart from Wolves, I'm well and truly out, finished with Lendy. If Wolves pay then I won't have lost - although no ones 'lost not a penny' cough, splutter, laugh.. The updates are a farce. Could, should, maybe, might. Ultimately though, it is the 'investors' that keep the platform alive and allow the farce to continue. For now, there are still plenty of willing investors. I was still sticking with Lendy but their attempt to push the recent field loan has made me very cautious. Without doubt the worst loan offer I have seen in 4 years of P2P, made it through their checks so it has confirmed their quality control is non existent. There are a couple of borrowers (SD/Sig) who favour Lendy who I am happy to invest in.
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Post by picanto on Feb 22, 2018 10:16:07 GMT
There are plenty moaning about how Lendy 'conducts' its business these days, yet there are plenty still willing to stay/twist/add to the platform. Apart from Wolves, I'm well and truly out, finished with Lendy. If Wolves pay then I won't have lost - although no ones 'lost not a penny' cough, splutter, laugh.. The updates are a farce. Could, should, maybe, might. Ultimately though, it is the 'investors' that keep the platform alive and allow the farce to continue. For now, there are still plenty of willing investors. I'm happy to stay with Lendy if they get their act together. But they seem to stick their fingers in their ears and don't seem to be aware of the frustration their investors are showing recently. Look at the reviews on TrustPilot, normally you get a mix of positive and negative reviews but recently it's all been really negative. Normally a Lendy rep replies to them reassuring them that they are doing their absolute best to resolve any issues people have but nobody has replied to the recent reviews which is unusual. This month so far has been a disaster for Lendy as far as I can see (even though at the start of the month there were 3 full loan repayments). The sale of the castle well short of the loan value, this current loan dragging on with no real specific reason as to why...And this decision to reduce bonus interest without any reasoning provided is treating their investors with no respect at all. Lendy need to sort it out and quickly.
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Jeepers
Member of DD Central
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Post by Jeepers on Feb 23, 2018 10:27:44 GMT
Moving forward the only clarity I will accept is when it's repaid. Lendy speak does not amount to clarity !
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Carter
Member of DD Central
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Post by Carter on Feb 23, 2018 10:56:31 GMT
A clear, accurate and fact based update is required from Lendy. If there are delays please give a high level explanation and then give a realistic forecast for completion.
If the refinance has fallen through then again give a clear update on next steps and how this will be managed from this point with high level forecast.
I really don't want to see, "borrower said this solicitor said that". Ask the right questions and pull the information together using your expertise to provide your lenders with some insight as to when this loan will redeem.
Your lenders have supported this development to get it over the line and deserve some respect.
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withnell
Member of DD Central
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Post by withnell on Feb 23, 2018 13:21:14 GMT
I've got a good level of confidence in this development, not least the borrower's track record and the fact that the development has finished (rather than being a shell at expiry!)
That being said, I'd like much clearer explanations around what is holding up the process - most people who've ever bought a house understand that legals can take longer than expected, but some kind of clarity around the level of outstandings (eg is it just waiting on the guarantee agency to send through certificates with a 7-day turnaround, or a fundamental issue with the valuation documents which require a reval etc) would put people's minds at ease.
That 9.8m could clear the SM and open up a lot of additional funds for new projects if investor confidence is restored by working with investors through clear, insightful updates
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Post by Lendy Support on Feb 23, 2018 15:45:44 GMT
Dear all, We'll comment on this thread, although there's relevance for a number of other threads as well. While there are understandably a lot Qs requiring As here, as a professional platform we need to be very careful that any communication we make about a specific recovery strategy doesn't prejudice our legal privilege, or hinder our on-going negotiations with relevant parties. (The rationale is that it is in the public interest that disputing parties should be able to negotiate freely, without fear of future prejudice in court, with a view to settling their disputes wherever possible.) What we can say about DFL005, however, is we have had very positive and constructive meetings in person with the borrower this week, and believe we now have a viable solution, which will be implemented shortly. We are now expecting information imminently that will inform how we move this forward. We anticipate being able to provide an update on our strategy within the next week. Regards Lendy Support |
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dovap
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Post by dovap on Feb 23, 2018 16:05:02 GMT
'a viable solution'
not sold then
ho hum
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hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
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Post by hazellend on Feb 23, 2018 16:19:27 GMT
Please make sure the solution is now actually presented before next Friday. It is over promising and under delivering that irritates customers the most
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Post by loftankerman on Feb 23, 2018 16:27:48 GMT
"What we can say about DFL005, however, is we have had very positive and constructive meetings in person with the borrower this week, and believe we now have a viable solution, which will be implemented shortly."
Track records being what track records are, my money is on this 'viable solution' being another tranche and extension.
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tombraider
Member of DD Central
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Post by tombraider on Feb 23, 2018 16:37:36 GMT
'a viable solution' not sold then ho hum Just utter rubbish again from Lendy. The updates have all implied sold when clearly not. How much longer do I have to put up with this.... well as every loan I’m invested is now in default years unfortunately.... now where’s that please rate us e mail
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Jeepers
Member of DD Central
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Post by Jeepers on Feb 23, 2018 16:38:47 GMT
This just get worse...
We were lead to believe it was all in the bag, now we're working out a viable solution.
Does that involve appointing receivers?
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Carter
Member of DD Central
Posts: 250
Likes: 549
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Post by Carter on Feb 23, 2018 16:43:02 GMT
Dear all, We'll comment on this thread, although there's relevance for a number of other threads as well. While there are understandably a lot Qs requiring As here, as a professional platform we need to be very careful that any communication we make about a specific recovery strategy doesn't prejudice our legal privilege, or hinder our on-going negotiations with relevant parties. (The rationale is that it is in the public interest that disputing parties should be able to negotiate freely, without fear of future prejudice in court, with a view to settling their disputes wherever possible.) What we can say about DFL005, however, is we have had very positive and constructive meetings in person with the borrower this week, and believe we now have a viable solution, which will be implemented shortly. We are now expecting information imminently that will inform how we move this forward. We anticipate being able to provide an update on our strategy within the next week. Regards Lendy Support So there's some form of issue, unforeseen or otherwise, that you're working constructively with the borrower to resolve. A full update should be provided next week once certain actions have been carried out, as agreed in the recent meetings with the borrower. That probably would have done it for me and I would have looked forward to the full update next week expecting some real timelines for conclusion. Instead I'm left somewhat perturbed due to the tone of the update and talk of "disputing parties" and "fear of future prejudice in court". There's nothing wrong with that paragraph as a standalone statement, but why attach it directly to this loan update when there's already enough lender anxiety about this loan.
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