|
|
Post by wottalot on Apr 19, 2017 19:33:49 GMT
I feel the same - LY aren't keen to encourage loyalty any more are they?
Current subscribers to this loan should simply be able to roll over into the new one if they wish - what's difficult about that?
If LY simply want to reduce the size of existing holdings to spread the loan more widely, why not just repay and re-allocate accordingly ?
Why do they want £2.4m sitting in the bank for several days earning nothing, instead of promptly repaying the existing loan, thereby enabling existing investors to buy a slice of the replacement loan ?
Under this present arrangement, we're effectively being forced to put the repayment (whenever it finally happens) into a different loan, no doubt at a reduced rate - or move it elsewhere entirely (which is the more likely outcome I'm afraid).
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Apr 19, 2017 20:10:15 GMT
OP Updated (Didn't think there was any point starting a new thread) DFL022 going live tomorrow. Please note the following... Kudos to Paul64 and team though, they have learnt from the 'hiccups' with the other recent roll over and improved the clarity of their comms here. Whilst the forum seems to criticise quickly, we should also recognise positive, even minor, steps.
|
|
|
|
Post by GSV3MIaC on Apr 19, 2017 20:16:52 GMT
/mod hat off
Yes, it's nice to have clarity of what LfSS are planning to do; +1 brownie point.
But .. what they are planning to do is grossly stupid (I wonder if the FCA requested it?), so -10 brownie points for expecting lenders to magic up 2x the money for a few days, then have to find some place to put it back. The pipeline / deal flow (on P2P in general) is already 'lumpy' enough without adding artificial speed bumps. It also unwinds any BH's position which they might have built up over time. Sorry, but the MT approach is just so much saner ..
|
|
GeorgeT
Member of DD Central
Posts: 1,322 
Likes: 1,576
|
Post by GeorgeT on Apr 19, 2017 20:37:38 GMT
/mod hat off Yes, it's nice to have clarity of what LfSS are planning to do; +1 brownie point. But .. what they are planning to do is grossly stupid (I wonder if the FCA requested it?), so -10 brownie points for expecting lenders to magic up 2x the money for a few days, then have to find some place to put it back. The pipeline / deal flow (on P2P in general) is already 'lumpy' enough without adding artificial speed bumps. It also unwinds any BH's position which they might have built up over time. Sorry, but the MT approach is just so much saner .. Yes the MT approach is much better but unfortunately there is an ongoing new loan drought on MT. Opportunities we were expecting in the middle of this week have thus far failed to materialize leaving us frustrated and that is one reason why people continue to be so attracted to LfSS despite their various shortcomings, and why investors continue to be so forgiving. If MT had the same level of deal flow as this platform then LfSS would have a big problem with fleeing investors.
|
|
dzo
Member of DD Central
Posts: 158
Likes: 150
|
Post by dzo on Apr 19, 2017 20:53:36 GMT
/mod hat off Yes, it's nice to have clarity of what LfSS are planning to do; +1 brownie point. But .. what they are planning to do is grossly stupid (I wonder if the FCA requested it?), so -10 brownie points for expecting lenders to magic up 2x the money for a few days, then have to find some place to put it back. The pipeline / deal flow (on P2P in general) is already 'lumpy' enough without adding artificial speed bumps. It also unwinds any BH's position which they might have built up over time. Sorry, but the MT approach is just so much saner .. Yes the MT approach is much better but unfortunately there is an ongoing new loan drought on MT. Opportunities we were expecting in the middle of this week have thus far failed to materialize leaving us frustrated and that is one reason why people continue to be so attracted to LfSS despite their various shortcomings, and why investors continue to be so forgiving. If MT had the same level of deal flow as this platform then LfSS would have a big problem with fleeing investors. I don't think it's just deal flow. Lendy is much more approachable for newbies due to pre-funding and a more professional looking website. FS have even stronger deal flow than Lendy, but they're having to offer 14% plus cashback and bonuses to attract investors.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Apr 20, 2017 11:48:40 GMT
DFL022 live at 12:45.
£6000 allocation and 1607 investors. Just a few £k on the SM... managed to grab myself a little.
|
|
ganymede
Member of DD Central
Posts: 304
Likes: 211
|
Post by ganymede on Apr 20, 2017 11:57:54 GMT
Same £6000 allocation with pre-funding set to £10,000.
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Apr 20, 2017 12:14:52 GMT
Same £6000 allocation with pre-funding set to £10,000. Same.
|
|
|
|
Post by d_saver on Apr 20, 2017 12:49:09 GMT
6k allocation and 1607 investors... Anyone think the response to this a little tepid, given the rate etc? I expected this one might be a bit more popular given the duration, rate, other recent loans etc.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Apr 20, 2017 12:49:27 GMT
Pre-funded 5k, received 10k  |
|
jamesc
Member of DD Central
Posts: 447
Likes: 253
|
Post by jamesc on Apr 20, 2017 12:59:30 GMT
6k allocation and 1607 investors... Anyone think the response to this a little tepid, given the rate etc? I expected this one might be a bit more popular given the duration, rate, other recent loans etc. Totally agree, I thought it would fly off the shelves, good security, proven track record of borrower, etc. I have never seen the SM so crowded virtually every loan for sale and 12% 200+ day loans with more than £10k available basically Lendy being too greedy bringing too many loans too quickly there is not enough investor appetite at the moment and I for one will struggle to find loans to sell to pay for this new one.
|
|
MarkT
Member of DD Central
Posts: 190
Likes: 159
|
Post by MarkT on Apr 20, 2017 13:44:54 GMT
In my case it's quite simple: my platform limit is reached, PPL 122 hasn't repaid and the SM is chocker so I can't sell. So, I must sit out today's offerings.
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Apr 20, 2017 13:50:01 GMT
Pre-funded 5k, received 10k A chance to get 12k there (or even 18k  ).
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Apr 20, 2017 13:55:07 GMT
6k allocation and 1607 investors... Anyone think the response to this a little tepid, given the rate etc? I expected this one might be a bit more popular given the duration, rate, other recent loans etc. Perhaps more investors are noticing with what regularity this borrower's companies fail to submit their (overdue) company accounts until the last possible moment. ...and that includes Huddersfield!
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Apr 20, 2017 13:59:33 GMT
6k allocation and 1607 investors... Anyone think the response to this a little tepid, given the rate etc? I expected this one might be a bit more popular given the duration, rate, other recent loans etc. Borrower exposure (across platforms).
|
|
).