one21
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Post by one21 on Feb 1, 2019 17:58:46 GMT
Excuse my ignorance here ..but the latest update suggests a ''new spa'' with a new funding.....who's funding it? Cannot find 'New Spa' mentioned, do you have the correct DFL ? (planning for student accommodation!)
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dApps
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Post by dApps on Feb 1, 2019 18:57:43 GMT
Excuse my ignorance here ..but the latest update suggests a ''new spa'' with a new funding.....who's funding it? Cannot find 'New Spa' mentioned, do you have the correct DFL ? (planning for student accommodation!) Perhaps auto-correct got the better of 'new SPV'. 
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one21
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Post by one21 on Feb 1, 2019 19:05:51 GMT
Cannot find 'New Spa' mentioned, do you have the correct DFL ? (planning for student accommodation!) Perhaps auto-correct got the better of 'new SPV'. Ah ha, all will turn out ok in the wash! Perhaps we could fund it? - not (yet)
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averageguy
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Post by averageguy on Feb 1, 2019 20:13:11 GMT
Haha..yes auto correct.....any answers to SPV?
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zccax77
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Post by zccax77 on Apr 9, 2019 11:09:37 GMT
looks like a 30% recovery on this. Another job well done Lendy.
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Post by wanderer on Apr 9, 2019 11:45:56 GMT
looks like a 30% recovery on this. Another job well done Lendy. seems like many of the recent redemptions are coming in around that level. unbelievable that we can go from "70% LTV" (a joke obvs) to a 70% loss of capital, implies around a 200% overvaluation in most cases...
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iRobot
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Post by iRobot on Apr 9, 2019 11:48:08 GMT
looks like a 30% recovery on this. Another job well done Lendy. Prediction? Or info received (from Lendy)? Still being marketed as per last update, afaics.
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mary
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Post by mary on Apr 9, 2019 12:17:18 GMT
There is scope for further recovery from the other assets....
“As well as first legal charges over each property within the group, we will have a debenture from each Company and also a cross guarantee between all 4 Companies so that all security is cross collaterised. We will also have a Personal Guarantee from the Director for each Company.”
Specifically, DFL03 and DFL22, which are both complete, or nearly, and have a claimed LTV of below 50%. Therefore, these should repay in full and the excess be available to fund some of the shortfall across the other loans, although these are many, and all also in default.
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Post by banffy on Apr 9, 2019 12:31:51 GMT
Perhaps an update on exactly what the situation is would be helpful from Lendy as the impresion I get they will just flog every defaulted loan at whatever ie £1 if they can just to get it off their books which if true would mean we are up the pan from now onwards with everything. UPDATES LENDY UPDATES?
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iRobot
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Post by iRobot on Apr 9, 2019 12:44:33 GMT
Perhaps an update on exactly what the situation is would be helpful from Lendy as the impresion I get they will just flog every defaulted loan at whatever ie £1 if they can just to get it off their books which if true would mean we are up the pan from now onwards with everything. UPDATES LENDY UPDATES? I suspect those in the loan will receive info either directly via email or via the recently vaunted lenders' portal (with an update alert email) and other interested parties will need to rely on Lendy updating the Repaid /Claims Underway sections and/or the monthly updates. (Or actual lenders passing on info subject to confidentiality sensitivities.)
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picnicman
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Post by picnicman on Apr 9, 2019 15:05:39 GMT
There is scope for further recovery from the other assets....
“As well as first legal charges over each property within the group, we will have a debenture from each Company and also a cross guarantee between all 4 Companies so that all security is cross collaterised. We will also have a Personal Guarantee from the Director for each Company.”
Specifically, DFL03 and DFL22, which are both complete, or nearly, and have a claimed LTV of below 50%. Therefore, these should repay in full and the excess be available to fund some of the shortfall across the other loans, although these are many, and all also in default. - is the above just been displayed somewhere - I am in DFL03 (my only remaining Lendy loan) for which the last update on 2/4 was that the company had been put into administration. I have not seen anywhere else or are you quoting from something posted some time ago? Any more info appreciated - Cheers P
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richox
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Post by richox on Apr 9, 2019 15:10:37 GMT
Lendy will make sure they get their full interest payment out of any recoveries. Also allow for the exorbitant fees of the administrators etc and we're probably lucky if there's 30% left for us. It's time Lendy came clean about the breakdown of where recoveries go.
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mary
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Post by mary on Apr 9, 2019 15:12:08 GMT
There is scope for further recovery from the other assets....
“As well as first legal charges over each property within the group, we will have a debenture from each Company and also a cross guarantee between all 4 Companies so that all security is cross collaterised. We will also have a Personal Guarantee from the Director for each Company.”
Specifically, DFL03 and DFL22, which are both complete, or nearly, and have a claimed LTV of below 50%. Therefore, these should repay in full and the excess be available to fund some of the shortfall across the other loans, although these are many, and all also in default. - is the above just been displayed somewhere - I am in DFL03 (my only remaining Lendy loan) for which the last update on 2/4 was that the company had been put into administration. I have not seen anywhere else or are you quoting from something posted some time ago? Any more info appreciated - Cheers P This is stated on the original loan details if you login. I think that same text appears on all the linked loans. The ranking of the cross collateralisation of each loan is unclear. If equal, then the subsequent loans for Cardiff and others (all defaulted) significantly dilute the value of this. Ultimately, there is the PG from the director who has clearly made a lot of money in the past, and hopefully it’s not all been p*ss*d away on the football club.
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rocky1
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Post by rocky1 on Apr 9, 2019 15:26:35 GMT
to get a better picture google bury news latest and our borrower is there with a big smile on his face but the rest of it is not good.
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Post by picanto on Apr 9, 2019 15:35:22 GMT
looks like a 30% recovery on this. Another job well done Lendy. "Looks like"? Where's the 30% figure come from? If it's a figure you've plucked from the air then you have to be careful with comments like these.
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