mary
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Post by mary on Jul 22, 2018 10:57:20 GMT
So if you believe Lendy this loan will be repaying by the end of the month which will release a fair chunk of my money left in Lendy.I wait with baited breath Just don't hold your breathe or you'll never see the money.  I'm expecting to find the repayment has been Shanghaied on its way back to us and is funding a field of sheds. No doubt the T&C have something that can be spun into authorisation for that to take place. Due to Lenders failing to fully fund more "sheds", the Borrower has managed to convince the supplier to provide them on extended credit (up to £2m). As we have 1st charge over this and the "sheds" property, the Borrower seems to be very persuasive, but lacking cash. Therefore I can only see the necessary cash required to move the "sheds" further forward coming from the sale of this security. If that fails then the Borrower will likely lose everything, so I assume that he putting every effort in this sale to keep afloat.
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jcb208
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Post by jcb208 on Jul 22, 2018 11:10:35 GMT
So if you believe Lendy this loan will be repaying by the end of the month which will release a fair chunk of my money left in Lendy.I wait with baited breath End of the month? As in July? Appreciate that was the early July update but things have moved on since then. The 20/07 update states: " The documentation regarding the refinance of the loan is in the hands of the borrower’s solicitors and we expect full repayment of this loan in advance of the September maturity date." As it stands, term date is 15/09/2018 (or maybe 16th _ unsure whether today counts as one of the 56 days remaining or not.) Depends on what version of updates you believe, I was reading the investor roundup and Lendy quoted We are also expecting a couple of substantial loans to be repaid before the end of the month, including PBL103 (Site with planning for 117 units near Hastings) with full accrued interest and bonus accrual, and DFL005 (Arboretum, land with planning, Paignton
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empirica
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Post by empirica on Jul 22, 2018 12:23:49 GMT
Fair enough.
I rarely read the newsletters any more.
It's time consuming enough attempting to glean meaningful information from the formal loan updates, let alone trying to derive anything substantive from a medium expected to host the PR equivalents of dancing girls and marching bands.
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warn
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Curmudgeon
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Post by warn on Jul 22, 2018 17:30:42 GMT
...I wait with baited breath
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bernard
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Post by bernard on Jul 23, 2018 9:17:53 GMT
Notable that interest payment was only mentioned for PBL103, not this loan. But any repayment, even of just the capital, from Lendy these days is some sort of minor triumph. I have learnt not to wait even with baited breath for Lendy, in terms of failing to meet low expectations they really are a class act.
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empirica
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Post by empirica on Jul 23, 2018 10:20:51 GMT
Notable that interest payment was only mentioned for PBL103, not this loan. But any repayment, even of just the capital, from Lendy these days is some sort of minor triumph. I have learnt not to wait even with baited breath for Lendy, in terms of failing to meet low expectations they really are a class act. Is it? DFL005 is IOA at present so there is no bonus accrual and interest is being paid on the interest run date.
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withnell
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Post by withnell on Jul 23, 2018 10:48:07 GMT
My guess of the play would be that the refinance of DFL005 will create a wash of funds, along with goodwill towards the borrower in question, and a decent proportion of this will get reinvested into DFL019.
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Jeepers
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Post by Jeepers on Jul 23, 2018 11:58:56 GMT
My guess of the play would be that the refinance of DFL005 will create a wash of funds, along with goodwill towards the borrower in question, and a decent proportion of this will get reinvested into DFL019. I'm not holding my breath. Will no doubt be the usual 'over promise/under deliver approach.
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Post by picanto on Jul 23, 2018 13:40:28 GMT
Notable that interest payment was only mentioned for PBL103, not this loan. But any repayment, even of just the capital, from Lendy these days is some sort of minor triumph. I have learnt not to wait even with baited breath for Lendy, in terms of failing to meet low expectations they really are a class act. To be fair to Lendy, the accrued and bonus interest were both paid before the loan was extended a short while back.
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Post by scerbera on Jul 23, 2018 13:41:32 GMT
My guess of the play would be that the refinance of DFL005 will create a wash of funds, along with goodwill towards the borrower in question, and a decent proportion of this will get reinvested into DFL019. dfl05 has my last funds left with lendy over mine and partners accounts, under 5k left from over 150k at one point. It will be withdrawn and I can will not be investing with lendy again for the foreseeable future, unless they show a significant attitude change. I will consider myself very lucky to walk away without any losses incurred if 05 can repay!
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Balder
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Post by Balder on Jul 30, 2018 12:48:28 GMT
DFL005 - Arboretum, Land with planning
The borrower continues to work hard on refinancing the scheme in order to fully repay the loan. The borrower has advised that initial documents for funding have been signed and the borrower expects to complete the refinance by the end of July 2018.
I wonder today or tomorrow or a delay?
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Post by spareapennyor2 on Jul 30, 2018 13:11:27 GMT
DFL005 - Arboretum, Land with planning The borrower continues to work hard on refinancing the scheme in order to fully repay the loan. The borrower has advised that initial documents for funding have been signed and the borrower expects to complete the refinance by the end of July 2018. I wonder today or tomorrow or a delay? Miracles Do Happen expect it will be September then extended too many promises on this one
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TheDriver
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Slightly bonkers
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Post by TheDriver on Jul 31, 2018 9:42:17 GMT
Earlier this month refinance was reported as expected to complete within 3 weeks. A fortnight later that becomes "before the (mid) September maturity date" which is more than 8 weeks!
Typical of meaningless L updates, with not even an attempt to acknowledge or justify the variation; did they even ask? Another classic example of why they STILL have little credibility in my eyes despite the high-profile talent signed on!!
However outside of this board investors must be much more understanding, as the limited pipeline keeps filling.
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Balder
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Post by Balder on Jul 31, 2018 10:07:55 GMT
I expect Lendy to be all over this one based on its history and assurances given. If this does not re-pay in term then the "blood" is firmly on the new "talents" hands! Time will tell.....
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Post by loftankerman on Jul 31, 2018 12:23:44 GMT
Lendy: DFL005 Update, 6th July 2017
"Documentary evidence is to be provided over the next two weeks to confirm and the Borrower is confident that the debt will be repaid prior to expiry (early September). On this basis, it is unlikely that the facility will be fully drawn."
So, given that there is a substantiated belief that past performance is a predictor of future performance, this is no time for optimism, we've been here before.
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