MONEY
Posts: 63 
Likes: 831
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Post by MONEY on Jan 8, 2018 13:43:43 GMT
Revisions made to T20's Loan Value. Original (28th December 2017):-  8th January 2018 10:40:-  8th January 2018 12:20:-  |
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Post by mrclondon on Jan 21, 2018 14:39:36 GMT
Whilst creating a DD Central thread for this loan with links to the planning applications, I reviewed my notes on status of the planning applications. The VR refers to two applications that date from 2015/16.
In summary, the 2015 change of use application was for 52 units, and the 2016 full application was for an additional 63 units plus a roof top gym with 5 extra floors (total 115 units). A new application was submitted in December 2017 so is currently under consideration and is to vary the extra 63 units approval down to an extra 40 units with 1 extra floor (total 92 units). Note that the Lendy updates say the new total is to be 95 units.
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Post by GSV3MIaC on Jan 21, 2018 15:18:04 GMT
SO we're at HOW MANY tranches (21?), and we haven't yet decided what we actually have approval to build?! Wait, we have decided what we want to build (92 or maybe 95) but it isn't approved yet. You have to laugh
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guff
Posts: 730
Likes: 707
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Post by guff on Jan 21, 2018 16:58:47 GMT
SO we're at HOW MANY tranches (21?), and we haven't yet decided what we actually have approval to build?! Wait, we have decided what we want to build (92 or maybe 95) but it isn't approved yet. You have to laugh They can't even get their storey consistent.
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Post by snowdrop800 on Jan 29, 2018 12:07:22 GMT
This appears to be suspended from Secondary Market Trading.
Have I missed something? Anyone have any ideas why it is suspended?
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dawn
Member of DD Central
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Likes: 275
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Post by dawn on Jan 29, 2018 12:13:42 GMT
This appears to be suspended from Secondary Market Trading. Have I missed something? Anyone have any ideas why it is suspended? The update on 19th Jan said there was a Second Charge loan connected to this one which would be launched shortly - maybe it is something to do with that?
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zlb
Member of DD Central
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Likes: 333
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Post by zlb on Jan 30, 2018 9:52:48 GMT
This appears to be suspended from Secondary Market Trading. Have I missed something? Anyone have any ideas why it is suspended? Maybe because it's breached it's maximum LTV - see above - and Lendy are having to redistribute the loan? is this why they're keeping new tranches separate? Would have thought total still had to be max 70% I've not seen any notice about their not merging new tranches into old.
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Post by snowdrop800 on Jan 30, 2018 10:31:47 GMT
Now tradeable again.
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mikes1531
Member of DD Central
Posts: 6,453
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Post by mikes1531 on Feb 25, 2018 22:39:47 GMT
'New' DFL loan being launched as a 2nd charge to facilitate the over spend. Still only offering 12%, even as a 2nd charge, so wonder what it'll do for the £140k of DFL008 on the SM? Edit: tagging Lendy Support - Is that correct that this is only 12%? Seems a big ask to get up to £1.6M when those tranches will be subordinated should the loan(s) get into difficulty.... I suspect they're only testing the water at the moment. When they see how much pre-funding their investors set -- or don't set -- they'll have an idea whether they have a problem or not. The fact that the amount of first charge parts available on the SM has grown from the £140k reported above to £158k at the moment can't be very encouraging.
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elliotn
Member of DD Central
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Post by elliotn on Feb 26, 2018 1:36:39 GMT
Yep, they've been willing to top up with CB where dfl's have required it.
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Mar 4, 2018 5:02:10 GMT
Cashback Offer added to the pipeline second charge loan. Not that the CB seems to have generated much enthusiasm for this loan. It looks like pre-funding covered less than 30% of the requested £421k, and £280k still is for sale on the SM a few days later.
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rocky1
Member of DD Central
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Post by rocky1 on Mar 4, 2018 7:19:15 GMT
will thes dfl's end up going down the same road as dfl005 and many others. all i can see on my loans is [borrower is/will/maybe seeking refinance ] who the heck except LENDY would finance any of these loans
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webwizard
Member of DD Central
Posts: 157
Likes: 145
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Post by webwizard on Mar 7, 2018 11:47:45 GMT
Second charge loan with 1% cash back launched looking for £421,946.
At present £268,451 remaining on the SM, so even with the cash back offer there is low uptake of this investment after 1 week.
Clearly some apprehension in investors and lack of capital repayments from other due loans influencing choice of investment. This could be an increasing problem for loans that are yet to require multiple tranches to progress the builds.
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sl75
Posts: 2,092
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Post by sl75 on Mar 7, 2018 14:15:21 GMT
Second charge loan with 1% cash back launched looking for £421,946. At present £268,451 remaining on the SM, so even with the cash back offer there is low uptake of this investment after 1 week. I grabbed a small chunk, but have not yet increased this because: - it makes no difference to the cashback whether I invest "now" or on the last day of the month, and there seems no imminent danger of this loan becoming fully subscribed today. - the main source of additional funds I would have put towards this was supposed to have been the repayment of DFL005, which has not yet occurred despite many promises. - why take only 1% cashback for a loan supported only by a second charge when there's a 2% cashback opportunity for a different loan supported by a first charge likely to go live soon? I'll probably throw more funds at DFL035 later in the month if the Cardiff PBL with 2% either gets pulled from the pipeline, or gets fully subscribed so that this loan remains the only cashback opportunity on the platform.
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Mar 8, 2018 4:42:54 GMT
I grabbed a small chunk, but have not yet increased this because: - it makes no difference to the cashback whether I invest "now" or on the last day of the month, and there seems no imminent danger of this loan becoming fully subscribed today. Because Lendy could decide to remove some or all of those parts from the SM without notice? That's what it looks like they did on Tuesday afternoon with the recent tranches of DFL029 and DFL030. - why take only 1% cashback for a loan supported only by a second charge when there's a 2% cashback opportunity for a different loan supported by a first charge likely to go live soon? Because a bird in the hand is worth two in the bush? ISTM that Lendy are having extreme difficulty funding tranches recently, even small ones. Unless things change significantly, I don't see how they could manage to fund a £5.2M loan, even with 2% cashback on offer.
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