SteveT
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Post by SteveT on Jan 29, 2018 9:16:31 GMT
How come there is currently a massive lack of interest in this loan ? A 12% loan with about 340 days to run, and yet there has been about 150k of availability all weekend ? That's pretty much unheard of around these parts is it not ? OK, I understand that there will have been withdrawals to fund DFL033 , but even so ? Is the fact that Lendy's accounts are so overdue starting to spook lenders ? Or are there specific concerns regarding DFL030 ? Mmmm ... It was the announcement of DFL033 going live that triggered the widespread sell-off across multiple loans, including DFL030. My guess is that a fair quantity of DFL033 will be returned to the market today or tomorrow. Also that the DFL030 queue will quickly reduce once DFL033 is done and dusted, not least because some lenders will remove their parts from the queue once the reason for selling is gone.
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southport
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Post by southport on Jan 29, 2018 12:47:44 GMT
This loan is still selling. I put a couple of hundred up for sale on Saturday with 90k (I think) in the queue and it has sold today.
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poppyland
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Post by poppyland on Jan 29, 2018 18:16:10 GMT
Sorry if I'm being dumb, but how would that affect DFL 30, a multimillion development in Manchester? IF Lendy fails or lenders dessert Lendy(check DFl004vs DL030 no. of investors), the borrower won't have access to funding to complete the project and you could end with a partially finished development which is worth a lot less than the loan. All big if's of course and a lot of scenarios could play out. I'm thinking of piling into this one a bit more, and so have been reading the thread on it. Surely if things go bad for Lendy and the developer can't borrow money from Lendy's investors to complete the project, they will just borrow from another platform instead e.g. FS.
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Post by Harland Kearney on Jan 29, 2018 18:22:37 GMT
I think you may find that this loan will become flavour of the month again once another (Any other!) loan pays back. At the moment, people were getting funds available for the new DFL as you mentioned.
It could also be the fact that more people are withdrawing their money too, but I think it is more to do with the fact that people are at their limit with Lendy until some PBL's/DFL's start to pay back.
This is the position I am currently in and I feel many other investors too are in the same boat. Having invested all the capital I'd like in the platform, just waiting for loans to payback then will reinvest. The illiquidy has spooked me a little, but in context it makes sense and as we saw earlier last year; its surprising (or not?) how quickly liquidy returns once big loans are repaid. These fluctuations further goto show that Lendy should not be used as a "Saving Account", or using capital you'd like to have relatively quick access too.
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mikes1531
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Post by mikes1531 on Jan 30, 2018 15:24:54 GMT
IF Lendy fails or lenders dessert Lendy(check DFl004vs DL030 no. of investors), the borrower won't have access to funding to complete the project and you could end with a partially finished development which is worth a lot less than the loan. All big if's of course and a lot of scenarios could play out. I'm thinking of piling into this one a bit more, and so have been reading the thread on it. Surely if things go bad for Lendy and the developer can't borrow money from Lendy's investors to complete the project, they will just borrow from another platform instead e.g. FS. This is a big project, with £6-7M more to be borrowed before it's complete. IMHO, it's much too big for FS to consider taking on. And if they did, I'd foresee problems when they tried to fund later tranches. Would it be too big for MT as well?
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SteveT
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Post by SteveT on Jan 30, 2018 15:37:29 GMT
The bigger issue in seeking another lender for later tranches is that they'd have to settle for a 2nd Charge, unless they bought out the existing Lendy 1st Charge debt as well. That's likely to prove very expensive for the borrower.
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Post by skint4achange on Feb 2, 2018 9:28:36 GMT
Well, the latest tranche hitting the SM has £94k remaining out of £372k.
This was the most sought after loan on the platform until the latest addition came along. I really so feel that investors on Lendy are now stretched to breaking point.
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Post by sirkillalot on Feb 2, 2018 9:58:58 GMT
Well, the latest tranche hitting the SM has £94k remaining out of £372k.
This was the most sought after loan on the platform until the latest addition came along. I really so feel that investors on Lendy are now stretched to breaking point. Agreed - those development tranches seem to keep on coming. Really need a big loan paying back to free things up.
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Post by skint4achange on Feb 2, 2018 10:01:43 GMT
One or more of the big DFL's need to come through and fast. If they don't, I am not sure they will fill anymore tranches of anything.
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blata
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Post by blata on Feb 2, 2018 10:52:56 GMT
Nothing more for me until DFL005 pays , worried that Lendy has lost the plot.
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lofty
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Post by lofty on Feb 2, 2018 11:53:18 GMT
Nothing more for me until DFL005 pays , worried that Lendy has lost the plot. They haven't lost the plot - in fact they've just loaned out a couple of million on it... :-)
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Post by Deleted on Feb 6, 2018 22:27:27 GMT
It would appear some glitches are very hard to kill in LendyLand .... 97.6% sold loan part, a miraculous sale queue of -43p and no sign of my loan part for sale!
I guess going by previous endless reports of this issue, there is zero point complaining as it will have resolved itself (for me anyway) by the time Lendy bother having a look and they'll leave some other sod lumbered with it at that point. Shambles!
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poppyland
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Post by poppyland on Feb 7, 2018 0:38:41 GMT
It would appear some glitches are very hard to kill in LendyLand .... 97.6% sold loan part, a miraculous sale queue of -43p and no sign of my loan part for sale! I guess going by previous endless reports of this issue, there is zero point complaining as it will have resolved itself (for me anyway) by the time Lendy bother having a look and they'll leave some other sod lumbered with it at that point. Shambles! I sold my parts in this loan this afternoon and also experienced my sale part being in limbo while a mysterious -0.43p waited to clear (not visible on the secondary market). I concluded that it would probably clear when some other seller put their stuff up for sale - looks like it was you. Anyway, from my experience, it will clear in the end, and some other poor sod will be left worrying about it instead.
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Post by notascooby on Feb 17, 2018 9:24:37 GMT
This in the Guardian this morning - Fantasy House Hunt
<link redacted>
Look familiar?
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Post by notascooby on Feb 21, 2018 12:13:12 GMT
OK I see the link was removed (for the Guardian, really?)
However a search on February 16th, Guardian, Fantasy House Hunt, Homes in Former Commercial Buildings shows this one.
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