|
|
Post by Lendy Support on Feb 23, 2018 17:20:00 GMT
Hi all, please be patient. We're getting to a good position on this. Have a good weekend. Lendy Support |
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,335 
Likes: 11,558
|
Post by ilmoro on Feb 23, 2018 17:24:02 GMT
Hi all, please be patient. We're getting to a good position on this. Have a good weekend. Lendy Support The problem is that previous updates have implied that you had already arrived at the good position (ie sale done, funds ready) now it seems you are still en route. Bit like a sat nav that announces you have arrived at your destination when youre stuck in a traffic jam 20 miles away. Enjoy your weekend
|
|
guff
Posts: 730
Likes: 707
|
Post by guff on Feb 23, 2018 18:09:30 GMT
Hi all, please be patient. We're getting to a good position on this. Have a good weekend. Lendy Support But your passengers are uncomfortable with your delusional prior updates and leading us to believe guff, you want investors to trust you then stop hissing Sid about...  Have a good weekend, J. 
|
|
madpierre
Member of DD Central
Posts: 303
Likes: 374
|
Post by madpierre on Feb 23, 2018 18:49:04 GMT
Hi all, please be patient. We're getting to a good position on this. Have a good weekend. Lendy Support Well, Lendy has a "nerve".... and it appears some of you have just touched it 
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Feb 23, 2018 22:46:52 GMT
For 12 % expect hiccups and debtors meandering and delaying. Its the same for lendy. What else can they do ? Sometimes its better to play the game and end up with a better solution. Remember the debtor is paying 18%.
if you want surety there are plenty of savings accounts paying 1.25%. 100% happy with Lendy!! In light of the recent revelation that Lendy "believe we now have a viable solution" -- which suggests to me that repayment of this loan isn't as imminent as many of us thought it was -- I think the following reminder may be appropriate... andygod1: The debtor is not paying 18%. They have been accruing 18%, and there's a big difference between those two concepts. I haven't a clue how likely it is that we Lendy investors will receive our accrued interest, much less our accrued bonus. For that matter, we may not even be accruing 18%. If the 'viable solution' includes a loan extension, Lendy could choose to make all the Bonus that's accrued so far disappear! (Not to mention that some of it apparently has disappeared already, as pointed out earlier in this thread.) As for the 'funds in place' issue... I optimistically took that to mean the refinance had been approved by the new lender. The words that were missing -- and perhaps I should have known that they should have been there -- were 'subject to DD'. And that is an important difference. In the same way that people often use the word 'Sold' and fail to add 'subject to contract' as they should. AIUI, until contracts have been exchanged a buyer can pull out of a purchase agreement with minimal -- or no -- penalty.
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
|
Post by sqh on Feb 24, 2018 4:27:50 GMT
The update on 2nd Feb 2018 says "We have spoken to the borrower's Solicitor, who has confirmed that completion of the sale is expected over the course of the next few working days. Whilst the sale has taken longer than expected to complete we remain confident full repayment will be achieved soon."
Using the words "solicitor" and "completion" in the same sentence implies that a sale has been agreed and exchanged. That would mean the buyer would have to pay a price to withdraw their purchase.
Any lender who purchased on the SM after 2nd Feb 2018 would have a strong claim against Lendy if they incurred losses on this loan.
|
|
|
|
Post by charliebrown on Feb 24, 2018 4:43:12 GMT
If the reviews on TrustPilot and the posts on this forum do represent the consensus then there’s been a significant breakdown in trust between LY and investors. If LY had maintained trust I don’t think investors would be quite as panicked and negative about this loan as they are being. It’s good to see that LY are still reading these forums and posting the odd response, but I dislike all the spin, telling us it’s in the “public interest” to keep us in the dark. I actually quite liked it when they (seemingly a tad tersely) posted telling us to “be patient” at least it showed an element of a human side rather than the usual BS that takes 3 paragraphs to say nothing.
|
|
|
|
Post by loftankerman on Feb 24, 2018 13:34:04 GMT
As an existing SS/Lendy customer I hadn't bothered reading the TrustPilot reviews but the references to them on here prompted me to have a look. Phew! They aren't very appreciative, are they? I was a bit amused by the fact that anything North of three stars attracted a personal vote of thanks for the support from the Lendy team, whereas some of the one stars that didn't get the "Well we warned enough didn't we?" boilerplate, asked the writer to contact them and prove they were customers. My inclination was to wonder if some of the five star reviewers were part of the platform's friends and family brigade.
|
|
|
|
Post by GSV3MIaC on Feb 24, 2018 15:46:28 GMT
/mod hat off
As a (minor) investor in this loan, I'm much more appreciate a straightforward 'the planned buyer has pulled out' ('because .. ' would be nice, but can't really be expected) or 'we have been lied to misinformed by X' .. instead of just ignoring the historic statements about how complete it all was(n't), and hoping nobody would pick them up on it. Between this monster, and the S** building, (and others) there really is an awfully large chunk of funds trapped in 'sometime-never-land'.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Feb 24, 2018 20:54:03 GMT
The update on 2nd Feb 2018 says "We have spoken to the borrower's Solicitor, who has confirmed that completion of the sale is expected over the course of the next few working days. Whilst the sale has taken longer than expected to complete we remain confident full repayment will be achieved soon." Using the words "solicitor" and "completion" in the same sentence implies that a sale has been agreed and exchanged. That would mean the buyer would have to pay a price to withdraw their purchase. I agree entirely. Lendy seem not to bother at all with the implications of their updates. It looks to me as if whoever wrote the 2/Feb update doesn't know the difference between exchange of contracts and completion. (Which is a pretty poor showing for someone in this business.)
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Feb 24, 2018 22:35:32 GMT
<snip> Lendy seem not to bother at all with the implications of their updates. I was very surprised to read their latest comments where all seems to be up in the air. <snip> It's not just restricted to LY, it seems to be all the platforms where suddenly at the same time all those chickens have come....... Does make you wonder about the level of platform competence we're dealing with especially as they all claim to be experts - self appointed of course. What they fail to understand is that investors can live with the truth - okay, bad news may make me go off at the deep end but I'll get over it. It's the fairy tale updates they report which never join up and frankly is nothing less than contempt for investors intelligence that gets me going. At the same time, our self appointed experts wonder why investors are slowly shying away from their loan offerings.
|
|
|
|
Post by peterpea on Feb 25, 2018 11:07:39 GMT
The update on 2nd Feb 2018 says "We have spoken to the borrower's Solicitor, who has confirmed that completion of the sale is expected over the course of the next few working days. Whilst the sale has taken longer than expected to complete we remain confident full repayment will be achieved soon." Using the words "solicitor" and "completion" in the same sentence implies that a sale has been agreed and exchanged. That would mean the buyer would have to pay a price to withdraw their purchase. Any lender who purchased on the SM after 2nd Feb 2018 would have a strong claim against Lendy if they incurred losses on this loan. I agree entirely. Lendy seem not to bother at all with the implications of their updates. I was very surprised to read their latest comments where all seems to be up in the air. Luckily the plot in this case seems to be easily sellable. Let's hope there isn't anything else complex hidden in the background. Is PBL005 really worth 14M ? 40 or so holiday homes that you can`t live in full time ?? How much are they worth each ? 150K ? 150x40= 6M. The complex 3M ? At auction half that. 4.5M with loan of 10M. Is this following a pattern ?
|
|
jsmithe
Member of DD Central
Posts: 74
Likes: 22
|
Post by jsmithe on Feb 25, 2018 12:05:01 GMT
Can we save it for “shadow time”? They seem happy to get the planned return.
Has anybody lost capital?
Has anybody lost interest?
|
|
jsmithe
Member of DD Central
Posts: 74
Likes: 22
|
Post by jsmithe on Feb 25, 2018 12:11:00 GMT
You could play a new game I’m enjoying while we wait, Snatch, available for iPhone and android, use my code: HUUA9J.
|
|
seeingred
Member of DD Central
Posts: 470
Likes: 664
|
Post by seeingred on Feb 25, 2018 13:14:41 GMT
Has anybody lost capital? Has anybody lost interest? Bide your time, there will come a time.
|
|
