GeorgeT
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Post by GeorgeT on Jun 27, 2017 0:14:03 GMT
I agree that's a valid argument in terms of it being an evolution of background knowledge and keeping your finger on the bigger pulse, but probably we already know enough about the robustness of LY's in-house DD process. I used to take a slight interest but not any more. Nowadays I take a general, pessimistic view towards the outcome of every loan in that I'd rather not be invested in any of them as they approach term end. Even though some loans and exit strategies are obviously better than others. Are you saying that you are in this for the short term, but others that are in it for the long-term benefit from DD (in whichever guise that may be)? Not exactly. I'm in individual loans for the short term but I hope to be on the platform in the longer term, although I may be reaching the conclusion of my personal 'longer term' given I've been with SS/LY for over 3 years already and I'm selling down all the time and now down to about one third of my all time max. I go from month to month with short termist thinking and every month I feel able to stay on and still sleep at night is a bonus. My eggs are spread more thinly than they used to be. I now have slightly more on MT than LY and I have an increasing sum on COL, though still relatively small and don't have the confidence to go big on that one as yet. I did snatch some 14%ers on there though. When I feel it's reached the point where rigorous DD is required on each and every loan in order to avoid losses, I will be out of the door. That time may come soon, in which case I will leave it to specialists like you who are prepared to invest more time than I am. So in a sense I'm agreeing with your point. I think if you plan to stick around with the ever ageing loanbook, and make a longer term success of it, DD will become increasingly important because the decreasing liquidity of loans and expansion of the SM may mean having to hold to term becomes more and more the norm.
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Post by Deleted on Jun 27, 2017 6:39:32 GMT
Do I get the feeling that cooling_dude and GeorgeT are getting to a place of mutual understanding (if not agreement) where every discussion over every loan doesn't descend into whether DD is appropriate or worthwhile. I can't be the only one wishing GeorgeT can preach about first class techniques while cooling_dude talks DD with others simultaneously, without the debate over which is best every time. I'm sure both points of view will be valued by someone. Failing that can we create a new thread where you can bash each other on the head until someones falls off in privacy? I can't be the only one who is a bit tired of this topic being discussed ad infinitum. Give us all a break fellas! |
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Post by Paul64 on Jun 27, 2017 10:09:39 GMT
Anyone doing any DD (seems to be rare on here nowadays...  ) may want to note that the address indicated throughout the VR is incorrect. The instruction letter notes 70-74 as the address, not just 72. However, I wouldn't mind Paul64 / Lendy Support confirming when they are passing Hi, the valuer has confirmed the property address is 72 M******** S*****, N*********. As part of our legal due diligence process, the valuer will also be asked to confirm the actual property/land area (that is the subject of the valuation report) matches the Report on Title, and will be the property security for the loan, before the loan is drawndown. Paul
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twoheads
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Post by twoheads on Jun 28, 2017 7:14:35 GMT
...plan B is to create a tampermonkey script to replace all his posts with Dr Who quotes - that should do the job... Exterminate?
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twoheads
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Post by twoheads on Jun 30, 2017 15:39:02 GMT
Another £523k tranche just announced for DFL012 - HQ Liverpool.
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am
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Post by am on Jul 2, 2017 10:25:10 GMT
Re PBL M*, I think that RightMove has the wrong number or the wrong property. That leaves me uncertain which property their 2005 selling price applies to. I tried to check when R* H* E* closed down, but for some reason Companies House isn't showing it. The public bit of Duedil has the last accounts in 2003 and the last annual return in 2005, so it's quite possible that the security was sold in 2005 as part of the liquidation of R* H* E* (the company sign wasn't removed until 2015). A hypothesis that someone bought the property in 2005, and ran into trouble in the financial crisis leading to the property being auctioned in 2010, is plausible.
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mikeh
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Post by mikeh on Jul 2, 2017 10:30:21 GMT
Re PBL M*, I think that RightMove has the wrong number or the wrong property. That leaves me uncertain which property their 2005 selling price applies to. I tried to check when R* H* E* closed down, but for some reason Companies House isn't showing it. The public bit of Duedil has the last accounts in 2003 and the last annual return in 2005, so it's quite possible that the security was sold in 2005 as part of the liquidation of R* H* E* (the company sign wasn't removed until 2015). A hypothesis that someone bought the property in 2005, and ran into trouble in the financial crisis leading to the property being auctioned in 2010, is plausible. The property pictured on RightMove is No. 71 which is directly across the road from our property. You can see the number in glass leading above the door if you zoom in on Google streetview.
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twoheads
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Post by twoheads on Jul 6, 2017 10:20:49 GMT
Two more tranches have popped into the pipeline.
DFL019 tranche 2: £358,590 (12% PA) DFL024 tranche 4: £275,249 ( 9% PA)
Another £630k for investors to stump up!
EDIT - and another:
DFL008 tranche 9: £161,414 (12% PA)
Another £790k for investors to stump up!
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Post by geraldine1210 on Jul 6, 2017 15:34:03 GMT
Two more tranches have popped into the pipeline.
DFL019 tranche 2: £358,590 (12% PA) DFL024 tranche 4: £275,249 ( 9% PA)
Another £630k for investors to stump up!
EDIT - and another:
DFL008 tranche 9: £161,414 (12% PA)
Another £790k for investors to stump up!
Or even another 790k to add to the glut on the SM.
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Post by df on Jul 7, 2017 1:21:50 GMT
Two more tranches have popped into the pipeline.
DFL019 tranche 2: £358,590 (12% PA) DFL024 tranche 4: £275,249 ( 9% PA)
Another £630k for investors to stump up!
EDIT - and another:
DFL008 tranche 9: £161,414 (12% PA)
Another £790k for investors to stump up!
Or even another 790k to add to the glut on the SM. It is £978,259 to raise. The total of DFL08/12/19/24 on SM is already £1,471,458. £23,267,500 is locked in default. I guess most investors already have enough in these four and 08 has only 21 days to run before SBL. This supply/demand ratio doesn't raise much hope. Another £1,160,250 is heading to join the default list in 29 days. They need new investors in order to sustain, but I can't see any prospect for expansion if L is unable to deal with the recovery of failed loans.
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Post by freedommmm on Jul 10, 2017 8:43:27 GMT
Would you invest into the latest tranche e.g. for DFL012, knowing that the existing SM queue is £810K ? If the answer is NO, dear Lendy - stick such loans up somewhere dark, so that you get the message!
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GeorgeT
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Post by GeorgeT on Jul 11, 2017 14:48:13 GMT
Added today -
DFL028 - Development Tranche 2 - H******** S***** S******, B*******
Security Value - £3,150,000 Loan Value - £179,140 Loan to value - 25% Rate - 12% 
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twoheads
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Post by twoheads on Jul 12, 2017 9:29:58 GMT
OP updated: Added: DFL028 - Development Tranche 2 - Derbyshire DFL018 - Development Tranche 1 - Preston DFL005 - Tranche 12 - Paignton Moved to live: DFL008 - Tranche 9 - Liverpool Centre DFL012 - Tranche 10 - Liverpool Waterfront DFL028 tranche 2 just went live. Fully prefunded with a maximum £410 allocation.
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twoheads
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Post by twoheads on Jul 12, 2017 9:42:52 GMT
The unnumbered Nottingham PBL has been exterminated.
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star dust
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Post by star dust on Jul 12, 2017 16:29:41 GMT
Have I missed it here? DFL024 and DFL019 are both sporting the new shouty development tranche "**CASH BACK OFFER **" in the pipeline. £282,592 and £110,273 respectively on the SM as I post, one a 9% rate loan, and the other 12%.
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) may want to note that the address indicated throughout the VR is incorrect. The instruction letter notes 70-74 as the address, not just 72. However, I wouldn't mind 
