invester
P2P Blogger
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Post by invester on Oct 17, 2018 22:31:19 GMT
Does look a little bit alarming. No sign of anything corroborating the updates.
Wasn't reference to draining the lake, putting a car park up, and fencing referenced, and tranches lent against that? You would think a bright shiny show home would have caught the photographers eye...
We must presume that in the absence of any progress the borrower must have a few million quid worth of lodge frames sitting around in a warehouse somewhere.
Could this be another Whitehaven?
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webwizard
Member of DD Central
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Post by webwizard on Jan 24, 2019 13:38:56 GMT
£43,757.00 suddenly off the SM this morning, I wonder if Lendy Wealth are buying this up.
Still 50 days to go on this one.
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Post by spareapennyor2 on Jan 24, 2019 14:21:47 GMT
bought the loans i put up this morning
so tick from me
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Post by loftankerman on Jan 24, 2019 15:46:16 GMT
Hmmm! Whilst I appreciate that the notion of Lendy Wealth buying up stuff on the secondary market is purely speculation, it does make me wonder if this would be cherry picking that pointed the finger of doom at anything they might seem to be ignoring. I don't know much about this sort of thing but if that were to be the case, it sounds a bit like what I understand insider trading to be about. It would make Lendy Wealth seem a bit safer, apart from the fact that loans Lendy have been confident about in the past have gone pear shaped only as they were assured to be paying out imminently.
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ton27
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Post by ton27 on Jan 25, 2019 12:28:34 GMT
I hope it is Lendy Wealth which is buying and has the funds to but even more - I am in favour of anything which will help Lendy prosper.
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Post by mrclondon on Jan 25, 2019 12:46:41 GMT
Hmmm! Whilst I appreciate that the notion of Lendy Wealth buying up stuff on the secondary market is purely speculation, it does make me wonder if this would be cherry picking that pointed the finger of doom at anything they might seem to be ignoring. I don't know much about this sort of thing but if that were to be the case, it sounds a bit like what I understand insider trading to be about. It would make Lendy Wealth seem a bit safer, apart from the fact that loans Lendy have been confident about in the past have gone pear shaped only as they were assured to be paying out imminently. When the first incarnation of ThinCats offered blackbox access to loans they deployed what they called the "human robot" to select the loans included (from boith PM and SM). Essentially what this meant was they developed a fixed set of rules governing the selection of loans based on high level criteria, then applied these rules methodically and repeatedly without regard for any insider knowledge.
I think its fair to say that this worked well, almost every such "package" of loans offered contained some utter disasters.
(I've no idea how the current incarnation of ThinCats is hadling the current generation of loan "packages", other than the diversification is much wider than the earlier generation)
Given the lack of new loans from Lendy and the relatively few loans that are not suspended from SM trade, it is hard to understand how Wealth can be operating with anything like a sensible diversification strategy. I think one of the intresting aspects here is that some of the early wealth funds will have gone into the Huddersfield loans which issued new tranches H2 2018.
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hazellend
Member of DD Central
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Post by hazellend on Jan 25, 2019 13:09:59 GMT
Hmmm! Whilst I appreciate that the notion of Lendy Wealth buying up stuff on the secondary market is purely speculation, it does make me wonder if this would be cherry picking that pointed the finger of doom at anything they might seem to be ignoring. I don't know much about this sort of thing but if that were to be the case, it sounds a bit like what I understand insider trading to be about. It would make Lendy Wealth seem a bit safer, apart from the fact that loans Lendy have been confident about in the past have gone pear shaped only as they were assured to be paying out imminently. When the first incarnation of ThinCats offered blackbox access to loans they deployed what they called the "human robot" to select the loans included (from boith PM and SM). Essentially what this meant was they developed a fixed set of rules governing the selection of loans based on high level criteria, then applied these rules methodically and repeatedly without regard for any insider knowledge.
I think its fair to say that this worked well, almost every such "package" of loans offered contained some utter disasters.
(I've no idea how the current incarnation of ThinCats is hadling the current generation of loan "packages", other than the diversification is much wider than the earlier generation)
Given the lack of new loans from Lendy and the relatively few loans that are not suspended from SM trade, it is hard to understand how Wealth can be operating with anything like a sensible diversification strategy. I think one of the intresting aspects here is that some of the early wealth funds will have gone into the Huddersfield loans which issued new tranches H2 2018.
Wealth could be lending money to deals which are not shown to self select I guess.
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Post by mrclondon on Jan 25, 2019 13:27:16 GMT
Wealth could be lending money to deals which are not shown to self select I guess. Its possible, but given google/bing searches of companies house for "Saving Stream Security Holding Limited" doesn't reveal any charges against borrowers that we are not already aware of, they would have to be using a new security holding entity. So feels unlikely IMO.
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Post by charliebrown on Jan 26, 2019 1:21:46 GMT
Wealth could be lending money to deals which are not shown to self select I guess. Its possible, but given google/bing searches of companies house for "Saving Stream Security Holding Limited" doesn't reveal any charges against borrowers that we are not already aware of, they would have to be using a new security holding entity. So feels unlikely IMO. Can I ask a serious question Mr. C. How do you think Lendy are still operating? It seems to me they must be spending far more money keeping the lights on than they are receiving in fees. Are they using reserves from when the going was good? Liam doesn’t seem like someone who will watch his war chest evaporate this way. Could they sell Lendy as an entity? It seems unlikely given the size of the mess. Their brand has been totally destroyed so there’s no equity in the brand. I don’t think Cowes would even want them as a sponsor anymore as it will tarnish the event. How are they defying gravity? Serious question.
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hazellend
Member of DD Central
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Post by hazellend on Jan 26, 2019 6:57:37 GMT
If they can sort out their mess and if they start offering decent self select loans and if wealth operates for 5 years without any bloopers then they’ll be okay
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rocky1
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Post by rocky1 on Jan 26, 2019 7:14:07 GMT
If they can sort out their mess and if they start offering decent self select loans and if wealth operates for 5 years without any bloopers then they’ll be okay IF,AND ,5 YEARS, very good hazellend you just made me spill my coffee laughing at that post.it is still quite early for some people, have you woken up properly yet.
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hazellend
Member of DD Central
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Post by hazellend on Jan 26, 2019 7:48:18 GMT
If they can sort out their mess and if they start offering decent self select loans and if wealth operates for 5 years without any bloopers then they’ll be okay IF,AND ,5 YEARS, very good hazellend you just made me spill my coffee laughing at that post.it is still quite early for some people, have you woken up properly yet. 
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sl75
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Post by sl75 on Apr 12, 2019 8:21:40 GMT
Formal offer of refinance received, and trading suspended...
... wonder whether that implies the offer is for less than the full amount, or is simply to avoid complications due to the interest rate changing every time someone sells a 13% loan part and the buyer(s) only get loan part(s) paying 12%?
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Post by picanto on Apr 12, 2019 8:27:45 GMT
Formal offer of refinance received, and trading suspended...
... wonder whether that implies the offer is for less than the full amount, or is simply to avoid complications due to the interest rate changing every time someone sells a 13% loan part and the buyer(s) only get loan part(s) paying 12%?
I hope it's not the former. I can't believe another one of my loans going wrong; it has a loan to GDV of 38% for goodness sake!
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sl75
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Post by sl75 on Apr 12, 2019 8:43:55 GMT
I suppose there's also a possibility that the FCA have deemed it unfair that in cases of a full refinance, those who have better information about it (potentially including associates of the borrower or the manager of the Lendy Wealth portfolio) could buy up all the amounts already offered for sale and benefit from the accrued bonus.
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