ric
Member of DD Central
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Post by ric on Nov 29, 2017 17:36:16 GMT
this one just got extended by 180 days. good to see!
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mary
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Post by mary on Nov 29, 2017 18:03:06 GMT
this one just got extended by 180 days. good to see! And there's a new £860k tranche in the pipeline, which by my calculations is solely to cover the interest for the extension with nothing left, so the developer must have sufficient funds to cover the remaining build costs!
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bababill
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Post by bababill on Nov 30, 2017 1:53:27 GMT
It is worth noting that the borrower has another loan on another platform that is suspended from the secondary market due to refinance issues.
It's not the actual borrower because of SPVs etc but at the end of the day it is the same people and same head corporate company.
The other platform has said they are confident the borrower will be able to refinance but just not in time for the loan expiry.
Apologies in advance for being so cryptic but this is all I can say.
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elliotn
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Post by elliotn on Nov 30, 2017 2:07:53 GMT
Don't worry the mere increase in remaining days has cleared the SM despite the latest tranche taking this a year overdue, diluting lenders' security and any related ubo issues you allude to.
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bababill
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Post by bababill on Nov 30, 2017 4:22:24 GMT
Just for the sake of clarity and so I don't get accused of libel I am not saying that any UBO (Ultimate Beneficial Owner) will end up in the UBO (Unemployment Benefit Office).
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withnell
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Post by withnell on Nov 30, 2017 12:24:39 GMT
Are Lendy allowed to change the LTV maximum mid-way through a loan without consent of investors? It dramatically changes the risk profile
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Post by masquedefer on Nov 30, 2017 15:58:43 GMT
Somebody knows something because they keep buying everything that comes onto the secondarymarket.
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guff
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Post by guff on Nov 30, 2017 17:19:36 GMT
Somebody knows something because they keep buying everything that comes onto the secondarymarket. Or maybe they follow the GT philosophy: 12% and >100 days - what's not to like?
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sarahcount
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Post by sarahcount on Nov 30, 2017 21:12:20 GMT
Yes I sold about 80% of mine very fast this morning. Was very surprised as I just thought best to get in the queue before interest day. I have just followed suit and sold some loan parts in the last few minutes while SM was at zero only to suddenly find that Ly have dumped 473k onto the SM. What makes it worse it that one of my parts was part sold and I am prevented from cancelling the sale!
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guff
Posts: 730
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Post by guff on Nov 30, 2017 21:15:58 GMT
Yes I sold about 80% of mine very fast this morning. Was very surprised as I just thought best to get in the queue before interest day. I have just followed suit and sold some loan parts in the last few minutes while SM was at zero only to suddenly find that Ly have dumped 473k onto the SM. What makes it worse it that one of my parts was part sold and I am prevented from cancelling the sale! Ouch. I've never trusted them since the SM stagnated and always split any sales into smaller chunks.
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sarahcount
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Post by sarahcount on Nov 30, 2017 21:30:09 GMT
I have just followed suit and sold some loan parts in the last few minutes while SM was at zero only to suddenly find that Ly have dumped 473k onto the SM. What makes it worse it that one of my parts was part sold and I am prevented from cancelling the sale! Ouch. I've never trusted them since the SM stagnated and always split any sales into smaller chunks. Yes I did do that fortunately but while it's a relatively small value part that's stuck it does seem a little unfair and untidy. I'll also be losing interest which is not great. I had a couple of other loan parts immediately behind this one but have cancelled those sales and will bide my time. Annoyingly I've also just realised that I had prefunding turned on for this loan so have managed to buy, sell and have a stuck part sale all at the same time.
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guff
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Post by guff on Nov 30, 2017 21:38:31 GMT
…have managed to buy, sell and have a stuck part sale all at the same time. If Lendy did awards…
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Liz
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Post by Liz on Nov 30, 2017 21:46:05 GMT
Yes I sold about 80% of mine very fast this morning. Was very surprised as I just thought best to get in the queue before interest day. I have just followed suit and sold some loan parts in the last few minutes while SM was at zero only to suddenly find that Ly have dumped 473k onto the SM. What makes it worse it that one of my parts was part sold and I am prevented from cancelling the sale! LMAO 
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Liz
Member of DD Central
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Post by Liz on Nov 30, 2017 21:48:13 GMT
…have managed to buy, sell and have a stuck part sale all at the same time. If Lendy did awards… Next they will be letting you sell defaulted loans 
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guff
Posts: 730
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Post by guff on Nov 30, 2017 21:52:12 GMT
Next they will be letting you sell defaulted loans But only if you're quick.
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