gt94sss2
Member of DD Central
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Post by gt94sss2 on May 2, 2017 10:22:01 GMT
The strategy employed by GeorgeT reminds me a little of Northern Rock who assumed just because it had always been possible for them to borrow short and lend long it would always continue to be. There is nothing wrong with GeorgeT's strategy as such, but it relies on a functioning SM - if that stops working efficiently then he/she must be prepared to hold the loans to term - there is no guarantee that the SM will not become illiquid even for loans with 100+ positive days, paying 12% interest and having some advance interest held at Lendy. On the other hand, I do wish that Lendy had choosen a different name for loans they describe as being in 'default' as its debatable if that is actually the case. |
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Liz
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Post by Liz on May 2, 2017 10:25:43 GMT
GeorgeT We have seen the SM go from bad to worse. Today was Interest Day, but the SM is still sitting at over 2m; that could change; it could get better... it could get worse. I'm not criticising your strategy out of hand (if able to, shifting loans before the end of term is sensible), but to do so whilst not keeping at least one eye on the security is very dangerous. You're playing pass the parcel. One day you will be caught holding a parcel... that is ticking, and nobody to pass it to... and then the parcels strat to pile up I would suggest you change your strategy. LY say it on their website; "past performance is not a guarantee of future performance" You forgot to mention "p....... f......" then you will be stuck with all of your loans!
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paulg
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Post by paulg on May 2, 2017 10:32:50 GMT
I see that the availability of DFL024 on the SM has just doubled from £43k to £86k. Does anyone know how much of this is SM and how much is Lendy's?
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Liz
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Post by Liz on May 2, 2017 10:38:21 GMT
I see that the availability of DFL024 on the SM has just doubled from £43k to £86k. Does anyone know how much of this is SM and how much is Lendy's? Buy 1P and list it for sale, anything in front of you is non-lendy money.
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paulg
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Post by paulg on May 2, 2017 10:46:23 GMT
I see that the availability of DFL024 on the SM has just doubled from £43k to £86k. Does anyone know how much of this is SM and how much is Lendy's? Buy 1P and list it for sale, anything in front of you is non-lendy money. Thanks Liz. I would, but I don't have any funds on Lendy any more. I'm interested in this one because it's repaying a MT loan that I'm in.
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Liz
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Post by Liz on May 2, 2017 10:50:04 GMT
Buy 1P and list it for sale, anything in front of you is non-lendy money. Thanks Liz . I would, but I don't have any funds on Lendy any more. I'm interested in this one because it's repaying a MT loan that I'm in. Sorry, I don't have available funds otherwise I would do it for you.
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n
Member of DD Central
Yet another Nick
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Post by n on May 2, 2017 10:51:51 GMT
Buy 1P and list it for sale, anything in front of you is non-lendy money. Thanks Liz . I would, but I don't have any funds on Lendy any more. I'm interested in this one because it's repaying a MT loan that I'm in. Sale queue is £500.
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twoheads
Member of DD Central
Programming
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Post by twoheads on May 2, 2017 10:52:51 GMT
I see that the availability of DFL024 on the SM has just doubled from £43k to £86k. Does anyone know how much of this is SM and how much is Lendy's? This is a mini-tranche dumped directly on the SM.
The loan value (DFL024) increased from £692,235 to £735,799 (increase of £43,564). LTV (LtPP quoted value) from 22% to 24%.
Unusual considering the loan hasn't yet drawn down.
EDIT - Can't tell the exact time because I was offline, travelling - It was around 10am or soon after.
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paulg
Member of DD Central
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Post by paulg on May 2, 2017 10:57:11 GMT
Thanks Liz . I would, but I don't have any funds on Lendy any more. I'm interested in this one because it's repaying a MT loan that I'm in. Sale queue is £500. Thanks n. Looks like Lendy fell well short of filling this loan at 9%. Maybe we'll be receiving 12% from MoneyThing for a few more days yet! 
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Liz
Member of DD Central
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Post by Liz on May 2, 2017 11:03:02 GMT
Thanks n . Looks like Lendy fell well short of filling this loan at 9%. Maybe we'll be receiving 12% from MoneyThing for a few more days yet! I wonder if they can change rates on offer. Eg Send an an e-mail saying this will pay 10% from 1st June. Something they may have to do.
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twoheads
Member of DD Central
Programming
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Post by twoheads on May 2, 2017 11:06:48 GMT
Thanks n . Looks like Lendy fell well short of filling this loan at 9%. Maybe we'll be receiving 12% from MoneyThing for a few more days yet! Sometimes, if the loan hasn't filled then LtPP drip feed chunks (underwritten?) on to the SM. This may have happened at 9am on Sunday morning when the available amount jumped up by £50k. Again on Monday at around noon, £75k was added to its availability. I am assuming this was LtPP but did not check. However, these chunks drip fed by LtPP (if that's what they were) do not change the Loan and LTV.
Todays £43.5k addition was an increase of the loan amount. Maybe this is a new 'tactic' by LtPP to make things look better. More probably the borrower simply needed to increase the initial loan (first tranche) amount for some reason.
EDIT - Monday's £75k was definitely LtPP. The availability has only decreased since then (almost nobody is selling) and has not dropped below 40k. Yet the sale queue as reported by n is only £500.
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dp
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Post by dp on May 2, 2017 11:11:50 GMT
Thanks n . Looks like Lendy fell well short of filling this loan at 9%. Maybe we'll be receiving 12% from MoneyThing for a few more days yet! I wonder if they can change rates on offer. Eg Send an an e-mail saying this will pay 10% from 1st June. Something they may have to do. Try 12% and i'm in.
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vmail
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Post by vmail on May 2, 2017 11:51:02 GMT
What's LtPP?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 2, 2017 11:52:27 GMT
Lendy the Property Platform - their new moniker
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Liz
Member of DD Central
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Post by Liz on May 2, 2017 13:00:38 GMT
The most profitable platform in the universe 
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