elliotn
Member of DD Central
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Post by elliotn on Mar 8, 2017 6:44:38 GMT
T&C allow 5 working days, possibly for batch processing of term changes at beginning or end of week, not that timely for investors though imo.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Mar 8, 2017 14:28:05 GMT
Well, it didn't take 5 days, but something around 22 hours for it to make its way in to the defaulted loans page.
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Post by dualinvestor on Mar 19, 2017 11:50:56 GMT
Update: "We are now waiting on an auction date and will dispose of this at the earliest opportunity. Offers have been received and we are considering. " Presumably none of the offers exceed the outstanding sums owed, otherwise what would there be to consider? IMO quite a lot of things given the history of this particular borrower and his various schemes of avoiding his security being realised 
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oldgrumpy
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Post by oldgrumpy on Jul 16, 2017 9:09:24 GMT
I wonder who was burning what in that fire on 7 May, which required two fire engines to bring under control.
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Post by shyinvestor on Jul 20, 2017 14:55:57 GMT
The "Recent Updates" are not very informative. I would like to see a bit more detail about what is happening.
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jfm
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Post by jfm on Jul 23, 2017 20:46:42 GMT
I wonder who was burning what in that fire on 7 May, which required two fire engines to bring under control. We know that two were sufficient, but have we been told that number was necessary?
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Post by harryvederci on Nov 10, 2017 22:15:50 GMT
latest update confirms sale completed at a material shortfall (probably £200k+) although Ly dont give the price, PF to the rescue again?
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blueninja
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Post by blueninja on Nov 10, 2017 23:27:39 GMT
latest update confirms sale completed at a material shortfall (probably £200k+) although Ly dont give the price, PF to the rescue again? ... or maybe this will be the first LY loan to make a loss of capital. The wording of the update hints that way.
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GeorgeT
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Post by GeorgeT on Nov 10, 2017 23:48:57 GMT
latest update confirms sale completed at a material shortfall (probably £200k+) although Ly dont give the price, PF to the rescue again? ... or maybe this will be the first LY loan to make a loss of capital. The wording of the update hints that way. Maybe, although I'd be slightly surprised given the negative coverage of LY getting associated with this borrower in the first place and LY's defence of their actions. Perhaps they feel the tin shed will be more in need of any available PF assistance.
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Monetus
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Post by Monetus on Nov 11, 2017 0:01:47 GMT
latest update confirms sale completed at a material shortfall (probably £200k+) although Ly dont give the price, PF to the rescue again? ... or maybe this will be the first LY loan to make a loss of capital. The wording of the update hints that way. I agree that the wording on the update seems "different". Will this be the first time the provision fund isn't used? And on what basis? Surely a capital loss for Lendy right now would be a total PR disaster given the current state of the loan book. Wouldn't (even more) people run for the exits?
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GeorgeT
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Post by GeorgeT on Nov 11, 2017 0:08:12 GMT
It wouldn't cost them much to ensure there are no losses on this relatively small loan and, given the borrower association, I'd be surprised if they let it be a loser. There are many much bigger loans where the PF won't be able to take the blow. I'd have thought it could on this one, so I think it would make sense for them to use it in this case.
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dovap
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Post by dovap on Nov 11, 2017 12:35:31 GMT
wonder if there's owt left in the pf -
be interesting to see who the purchaser turns out to be and if they have a connection to old Des
surprised the tin shed 'talks' failed - erm no
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Post by harryvederci on Nov 23, 2017 12:23:18 GMT
an abject lesson in all that matters is the security
who fixes the value of the security?
in this case the borrower did by flipping the asset through a related company land registry transaction at a vastly inflated never achievable price, and then instructing the valuer himself who valued it at the 'purchase price'
doubt if Ly will squeeze another penny out of this lot, they're far too streetwise
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invester
P2P Blogger
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Post by invester on Nov 23, 2017 12:43:04 GMT
Amazing trick discovered there by Lendy. Keeping a defaulted loan in this state means they can claim forever that nobody has lost any capital.
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mary
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Post by mary on Nov 23, 2017 12:46:04 GMT
So where is the PF? Is it empty?
We need to know!
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