DFL010 - Leisure Village, C****** - SUSPENDED

Jan 9, 2018 15:49:03 GMT rocky1 said:

dfl010 currently -69days and IA now nxt tranche in pipeline will IA owed be paid on last lot i am in this one and would rather not continue but lendy just keep putting my funds into tranche after tranche afer tranche after tranche until we reach the IA/ suspended stages again is the only way out of any loans to put on available loans and hope for the best for months on end. in effect once you fund any loan you are in for the duration unless you can sell which has become increasingly hard with lendy queue jumping and leaving us without interest for months and months on some loans.cant our funds be returned and then decide if we want to fund further tranches on merit.

I fail to see the point of this comment. Lendy are not putting your money into Tranche after Tranche unless you are pre-funding each and every tranche.

The way I read your post is that you want to be given the option to sell your loan part back to Lendy when the "Good" times have finished and the development is getting bigger? Seriously? You want Lendy to return every investors money and then say "Oh, and by the way we want you to now put it all back into the borrowers bank please"! Where do you think they will get the money from exactly?

I am not sure, but I am assuming from your statement above that you are quite new to P2P.

Jan 12, 2018 10:05:21 GMT rimmus said:

@new2p2p

Thanks for your thoughts/clarification.

Yes, I’d figured that “go live” probably meant draw down.  As you say, it does mean some of the T4 borrowing is simply going to cover the extension of the original main loan.

I’ll be interested to see what happens to the “bonus” on the main loan... whether that amount gets paid out for the overdue months when the loan gets brought back to positive days remaining, or whether somehow this gets forgotten on the basis of the loan extending.  My view is we should receive it as the loan is overdue... if it was simply going to extend, those arrangements should have been made before the original loan became overdue.

I had thought that the main loan might remain at 10%, which would have made those pieces less attractive on the SM, and also would have worried me if the new loan being at 12% reflected an perceived increase in risk.  Reading it again now with a cup of tea it is very clear this is not what is happening.  The main and T4 will both be 12% after drawdown.

This has been discussed many times before and most people are in agreement about it, but at the end of the day it is in black and white on the Lendy website that this will not be paid if the loan is brought back from negative time remaining through an extension to the loan.

While we do not like it, just appreciate the fact that you are going to be getting your interest that has accrued and will also be getting 12% for another 180 days, maybe longer.