mikes1531
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Post by mikes1531 on May 2, 2017 13:08:33 GMT
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. Inasmuch as those loans are at least six months in arrears, "default" seems like a reasonable description to me. But I'd have to agree that there are other loans on the platform that should be described similarly but aren't.
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mikes1531
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Post by mikes1531 on May 2, 2017 13:24:43 GMT
Consequently in the last month or so my overall investment in Ly has reduced. This will continue until Ly have an IFISA account. trevor: I suspect you'll have to wait a while. LtPP need to be fully licensed before they can offer an IFISA. And who knows how much longer that might take?
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stevio
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Post by stevio on May 2, 2017 14:06:58 GMT
I wonder if the fans of due diligence and checking out the security and veracity of the valuation report would put their money where their mouths are and invest in a defaulted loan over and above one with say 200 days to run if the security looked sounder on the defaulted loan than on the 200 day to run loan. Personally I doubt it. Activity on the secondary market suggests that the majority of investors operate like I do and that only fools or the very brave willingly hold loans to term end. Why would they want to invest in a defaulted loan, as by then most would already most likely have what they wanted in the loan anyway. I am willing to hold to the end, why? I have spent a bit a time on google checked the basic facts, checked the borrower and done the sums and I am happy that they actually add up or if the project fails it be worth someone else taking it over. Lendy have a few very good loans the only problem is they are in the minority not the majortity. Fair enough - I am taking the stance that its too risky to take the chance with ANY of Lendy's loans and will be selling when I feel the SM opportunity is coming to an end - Lendy has risen in risk for me, above that of FS, in that there is not even a way to exit with a discount to the capital
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Post by charliebrown on May 2, 2017 14:44:35 GMT
Why would they want to invest in a defaulted loan, as by then most would already most likely have what they wanted in the loan anyway. I am willing to hold to the end, why? I have spent a bit a time on google checked the basic facts, checked the borrower and done the sums and I am happy that they actually add up or if the project fails it be worth someone else taking it over. Lendy have a few very good loans the only problem is they are in the minority not the majortity. Fair enough - I am taking the stance that its too risky to take the chance with ANY of Lendy's loans and will be selling when I feel the SM opportunity is coming to an end - Lendy has risen in risk for me, above that of FS, in that there is not even a way to exit with a discount to the capital I think the respected members on this forum have always been consistent in their views on this in that investing with your eyes closed and expecting that you can offload anything on the SM within term (or even with a negative term) is not a strategy you can ALWAYS rely on. We've seen the SM dynamics change over the last few months and some of the sales queues are longer and slower (or as dead as a dodo). What those members said as far as I can remember is simply that this is not a strategy they would personally be comfortable with. What's the disclaimer they use in the ads? Past performance may not be indicative of future performance? On a related note, I'm quite concerned about the volume of loans now parked under the "default" tab, and there's a few more imminently heading there too. Luckily I'm not holding any of them so haven't analysed the chance of a positive outcome, but the skeptic in me says there's a major sh*t storm brewing. I don't think Lendl can always be a martyr, I'd imagine investors are going to have to suck up some losses.
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stevio
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Post by stevio on May 2, 2017 14:51:12 GMT
Fair enough - I am taking the stance that its too risky to take the chance with ANY of Lendy's loans and will be selling when I feel the SM opportunity is coming to an end - Lendy has risen in risk for me, above that of FS, in that there is not even a way to exit with a discount to the capital I think the respected members on this forum have always been consistent in their views on this in that investing with your eyes closed and expecting that you can offload anything on the SM within term (or even with a negative term) is not a strategy you can ALWAYS rely on. We've seen the SM dynamics change over the last few months and some of the sales queues are longer and slower (or as dead as a dodo). What those members said as far as I can remember is simply that this is not a strategy they would personally be comfortable with. What's the disclaimer they use in the ads? Past performance may not be indicative of future performance? On a related note, I'm quite concerned about the volume of loans now parked under the "default" tab, and there's a few more imminently heading there too. Luckily I'm not holding any of them so haven't analysed the chance of a positive outcome, but the skeptic in me says there's a major sh*t storm brewing. I don't think Lendl can always be a martyr, I'd imagine investors are going to have to suck up some losses. I am already invested, so I am not making the decision as to whether to invest. I am not happy to hold any Lendy loan to term, I am not able to re-invest in other 12% loans in large enough volume, whether to term or for a short period, therefore I will exit when I still feel I can and go elsewhere
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adrianc
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Post by adrianc on May 2, 2017 14:54:09 GMT
Fair enough - I am taking the stance that its too risky to take the chance with ANY of Lendy's loans and will be selling when I feel the SM opportunity is coming to an end - Lendy has risen in risk for me, above that of FS, in that there is not even a way to exit with a discount to the capital I think the respected members on this forum have always been consistent in their views on this in that investing with your eyes closed and expecting that you can offload anything on the SM within term (or even with a negative term) is not a strategy you can ALWAYS rely on. We've seen the SM dynamics change over the last few months and some of the sales queues are longer and slower (or as dead as a dodo). What those members said as far as I can remember is simply that this is not a strategy they would personally be comfortable with. What's the disclaimer they use in the ads? Past performance may not be indicative of future performance? On a related note, I'm quite concerned about the volume of loans now parked under the "default" tab, and there's a few more imminently heading there too. Luckily I'm not holding any of them so haven't analysed the chance of a positive outcome, but the skeptic in me says there's a major sh*t storm brewing. I don't think Lendl can always be a martyr, I'd imagine investors are going to have to suck up some losses. And, of course, the received wisdom has long been that anything over 7% after losses is a short-term bonus, and not to be expected, no matter what the headline rate... If three of my maximum-exposure loans went south with 100% losses tomorrow, then I'd be just over that 7% over my full term in LfSS. As far as the "default" tab goes, LfSS have historically been too slow to default where loans have clearly gone south. I think they've now gone too far the other way - and are defaulting too rigidly. That's clearly had a knock-on in confidence, but I think that's a short-term thing, and lenders will soon realise that "DEF" simply means 180+ rather than actually defaulted in any real way. Equally, there are some where the updates indicate that the loan really HAS defaulted in a meaningful way, but the simple number-matching status doesn't reflect that.
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Liz
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Post by Liz on May 2, 2017 14:57:20 GMT
On a related note, I'm quite concerned about the volume of loans now parked under the "default" tab, and there's a few more imminently heading there too. Luckily I'm not holding any of them so haven't analysed the chance of a positive outcome, but the skeptic in me says there's a major sh*t storm brewing. I don't think Lendl can always be a martyr, I'd imagine investors are going to have to suck up some losses. I blame Murray for dumping him as coach.
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Post by charliebrown on May 2, 2017 15:09:02 GMT
I think the respected members on this forum have always been consistent in their views on this in that investing with your eyes closed and expecting that you can offload anything on the SM within term (or even with a negative term) is not a strategy you can ALWAYS rely on. We've seen the SM dynamics change over the last few months and some of the sales queues are longer and slower (or as dead as a dodo). What those members said as far as I can remember is simply that this is not a strategy they would personally be comfortable with. What's the disclaimer they use in the ads? Past performance may not be indicative of future performance? On a related note, I'm quite concerned about the volume of loans now parked under the "default" tab, and there's a few more imminently heading there too. Luckily I'm not holding any of them so haven't analysed the chance of a positive outcome, but the skeptic in me says there's a major sh*t storm brewing. I don't think Lendl can always be a martyr, I'd imagine investors are going to have to suck up some losses. I am already invested, so I am not making the decision as to whether to invest. I am not happy to hold any Lendy loan to term, I am not able to re-invest in other 12% loans in large enough volume, whether to term or for a short period, therefore I will exit when I still feel I can and go elsewhere I think the point is that whilst you're unhappy holding loans to term you might not have a choice. I'd agree that an option to sell at a discount would add some flexibility. My personal opinion is that I'm cautious when investing on Lendy. For example, I might be misguided but I've often invested blindly on MT as I sort of think if it's good enough for MT it's good enough for me. With Lendy I never think like that I think caveat emptor.
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littleoldlady
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Post by littleoldlady on May 2, 2017 15:14:19 GMT
Consequently in the last month or so my overall investment in Ly has reduced. This will continue until Ly have an IFISA account. trevor : I suspect you'll have to wait a while. LtPP need to be fully licensed before they can offer an IFISA. And who knows how much longer that might take? There is an item in the news to the effect that the FCA have gone on hols are suspending accreditations until after the election.
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mikes1531
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Post by mikes1531 on May 2, 2017 15:42:19 GMT
...lenders will soon realise that "DEF" simply means 180+ rather than actually defaulted in any real way. ISTM that any borrower who has allowed their loan to become at least six months in arrears has defaulted in a real way. But that's JMHO and I'd be pleased to learn of circumstances where that might not be the case.
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adrianc
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Post by adrianc on May 2, 2017 15:49:05 GMT
...lenders will soon realise that "DEF" simply means 180+ rather than actually defaulted in any real way. ISTM that any borrower who has allowed their loan to become at least six months in arrears has defaulted in a real way. But that's JMHO and I'd be pleased to learn of circumstances where that might not be the case. PBL081, imho.
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Post by Deleted on May 2, 2017 15:55:29 GMT
erm, is it just me, or is DFL024 now showing 0 investors, 0 invested... !?
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paulg
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Post by paulg on May 2, 2017 15:57:43 GMT
erm, is it just me, or is DFL024 now showing 0 investors, 0 invested... !? No, it's not just you!
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puffin
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Post by puffin on May 2, 2017 16:02:06 GMT
erm, is it just me, or is DFL024 now showing 0 investors, 0 invested... !? Same here. No Investor Activity tab now either. Perhaps this is not going ahead?
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Post by Deleted on May 2, 2017 16:03:07 GMT
Saw the £1... and its gone again
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