fp
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Post by fp on Jul 21, 2017 15:02:33 GMT
reading between the lines, and i'm no expert on this, but I don't think the tenancy is legal... someone might just have dropped on their feet.
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mikes1531
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Post by mikes1531 on Jul 23, 2017 1:07:52 GMT
reading between the lines, and i'm no expert on this, but I don't think the tenancy is legal... someone might just have dropped on their feet. It might be illegal, but it might also take until after the tenancy is over before any legal battle was concluded -- so the tenant might have been in place for 12 months and then moved out by the time the case is decided.
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GeorgeT
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Post by GeorgeT on Aug 17, 2017 22:28:34 GMT
This one could repay in full on Fri 18th Aug. Or if not on Sat.
Standby. Could put some serious wind in the sails of the SM.
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Tunny
Sometimes it is the people no one imagines anything of who do the things that no one can imagine
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Post by Tunny on Aug 18, 2017 9:49:57 GMT
Repaid ! 17.08.2017
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twoheads
Member of DD Central
Programming
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Post by twoheads on Aug 18, 2017 10:06:06 GMT
Unfortunately, with the rather open ended caveats mentioned in the e-mail:
2. Outstanding interest will only be payable if and when sufficient funds are recovered from the borrower.
3. The bonus accrual payment will only be payable if and when sufficient funds are recovered from the borrower.
But at least the capital's back!
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rgog
Member of DD Central
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Post by rgog on Aug 18, 2017 10:06:52 GMT
reading between the lines, and i'm no expert on this, but I don't think the tenancy is legal... someone might just have dropped on their feet. It might be illegal, but it might also take until after the tenancy is over before any legal battle was concluded -- so the tenant might have been in place for 12 months and then moved out by the time the case is decided. Of course it depends on who bought it, if they have a nose squashed to one side and friends with crow bars and baseball bat and a certain lack of moral probity, the tenant might find they are very willing to leave!!!!! 
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romy
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Post by romy on Aug 18, 2017 10:17:00 GMT
... or of course if the buyer was nice and friendly to the tenant they might decide they'll move out...
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copacetic
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Post by copacetic on Aug 18, 2017 10:28:09 GMT
It's a good result that there isn't any capital loss for lenders here but I'd be curious to know the shortfall at least. I do hope Lendy have recourse to the borrower's other assets since they did make a fanfare about his experience and wealth in the overview page.
The tenant given an AST below market value looked like a dodgy deal by the borrower. I'm wondering was it a failed attempt to put off buyers entirely to get the borrower more time or was it a successful attempt to buy the property at a discount under a hidden guise.
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fp
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Post by fp on Sept 13, 2017 14:57:45 GMT
We would like to announce the full repayment of the qabove loan.
All investors in this loan should now have the capital credited to their Lendy accounts.
Outstanding interest will only be payable if and when sufficient funds are recovered from the borrower.
The bonus accrual payment will only be payable if and when sufficient funds are recovered from the borrower.
Kind regards,
The Lendy Team
Paul64, with regard to loans which have a shortfall of some description upon recovery, is it the intention of the platform to disclose to investors what the amount recovered is, along with any costs/fees/disbursement made from the sums in question? As an investor in this loan I am keen to know if the PF was used to top this loan up in any way, but also who else received monies from it, what monies are still outstanding in fees, interest, etc.
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Post by da2279 on Nov 6, 2017 16:16:18 GMT
Latest from my support request on the accrual Interest and Bonus payments: -
"PBL123 and PBL147, PBL074 - we continue with our recovery strategy to enforce the balance of the debt against the borrower..
.....
We are currently developing a new tab where partially repaid loans will appear, and updates will be included accordingly."
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webwizard
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Post by webwizard on Mar 2, 2018 13:07:17 GMT
I forgot that I had an investment in this loan until the partially repaid tab arrived.
I thought the last update from Lendy, in my view, was particularly positive. They have discovered that the borrower has a shareholding of value and are going to court to get control to repay the outstanding interest and bonus. Furthermore, the borrower made a settlement offer which Lendy refused (quite right in my view). This is exactly what I had hoped for a loan platform, to get assertive with clients and to pursue all avenues of repayment until exhausted.
Furthermore, these new updates are examples of what is happening behind the scenes and behind the updates of 'we cannot give more details as it may undermine the legal efforts to reclaim the loan' from Lendy.
Well done Lendy for chasing this borrower and I would like to see more of this activity reported in the updates which I think is encouraging for the platform as a whole.
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Post by spareapennyor2 on May 11, 2019 9:23:32 GMT
interesting read BBC liverpool
By Dan Box
BBC News
9 hours ago
Investors tell of 'nightmare'
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agent69
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Post by agent69 on May 11, 2019 10:07:09 GMT
interesting read BBC liverpool By Dan Box BBC News 9 hours ago Investors tell of 'nightmare' Company boss says everyone will be paid. What could go wrong.
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iRobot
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Post by iRobot on May 11, 2019 10:22:54 GMT
interesting read BBC liverpool By Dan Box BBC News 9 hours ago Investors tell of 'nightmare' Company boss says everyone will be paid. What could go wrong. Wrong loan? I think the last loan this outfit had on Lendy was PBL192. (And they've a few over the years, all repaid. Eventually. And with the help of the PF in at least one instance.)
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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 11, 2019 10:51:38 GMT
Company boss says everyone will be paid. What could go wrong. Wrong loan? I think the last loan this outfit had on Lendy was PBL192. (And they've a few over the years, all repaid. Eventually. And with the help of the PF in at least one instance.) Indeed. Would actually be more pertinent on a different platform board where there is an actual live loan in arrears.
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