IFISAcava
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Post by IFISAcava on Jul 24, 2017 16:19:41 GMT
Shhhh!!!   They've just spotted their error and corrected it.
%PA now shows 10% for DFL011 tranche.
swiftly removed my pre-funding...
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Post by p2plender on Jul 26, 2017 1:54:33 GMT
£1 million in the pipeline purely to keep 'DFLs' moving. The sm watchers think the 2 small repayments yday are going to fire the sm. Will be interesting to see where next weeks repayments go. Failing that you have the 'imminent' 7 mill JM* repayment.........
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twoheads
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Programming
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Post by twoheads on Aug 3, 2017 16:47:01 GMT
The DFL023 Tranche 2 has just been increased to 11% And confirmed in an email: " Please note that the rate for this loan has increased to 11% for new and existing investors alike. " Should help the SM currently at £168k now £130k with 274 days remaining. And could be another pointer to the return of more 12% loans? Will this end up being a two-tier loan or does "existing investors" include those already invested in the original 9% parts.
Will the 9% parts become 11% at live time?
If not, and this does become a two tier loan, will those in 9% parts feel somewhat aggrieved?
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dan83
Posts: 243
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Post by dan83 on Aug 3, 2017 18:06:48 GMT
Has anyone else noticed the lack of new loans in the pipeline?
Loads of additional trenches, but no new loans.
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Post by GSV3MIaC on Aug 3, 2017 19:56:18 GMT
Indeed, but they are having enough trouble (IMO) filling the ones (tranches) they are already committed to, so not embarking on any new ones until some MAJOR repayments take place is probably a smart move. Moving the rate up on DFL023 might just be the tip of the iceberg, unless Cowes manages to land quite a few new punters. There is a large amount required to complete those existing loans (even assuming they don't over-run and come back for more cash).
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dan83
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Post by dan83 on Aug 3, 2017 20:01:05 GMT
I'd assume anyone who wanted some of them loans will already have the amount they want.
The only way I'm putting more money in is when new loans become available.
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elliotn
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Post by elliotn on Aug 4, 2017 1:44:37 GMT
I'd assume anyone who wanted some of them loans will already have the amount they want. The only way I'm putting more money in is when new loans become available. See davestorey's post above. No investor wants a dfl to default because of lack of funding. Whether Ly over committed to their existing dfl's is another question but new loans on top killed the SM which is only now recovering a bit from their respite (see George's posts in various threads).
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Post by df on Aug 4, 2017 3:57:53 GMT
Has anyone else noticed the lack of new loans in the pipeline? Loads of additional trenches, but no new loans. In deed. I'd like to see it as a good move. I was looking to invest in 12%-er in Sherwood (Nottingham) not long ago, but it disappeared from pipeline, it has been there for a week or so. It may mean that SS became more selective??? I think forcing new loans in (especially 7-9%-ers) whilst having a massive backlog of overdue loans and defaults was wrong strategy. Recently, significant progress was made in redemption, which has already made a positive impact on SM and hopefully will rebuild lender's confidence in Ly platform. This can help with funding new tranches of existing loans.
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Post by df on Aug 4, 2017 4:15:11 GMT
Will this end up being a two-tier loan or does "existing investors" include those already invested in the original 9% parts.
Will the 9% parts become 11% at live time?
If not, and this does become a two tier loan, will those in 9% parts feel somewhat aggrieved?
I'm prepared take Lendy at their word on this one -- or rather words: " Please note that the rate for this loan has increased to 11% for new and existing investors alike. " So it's the loan not the tranche and is 11% for everyone alike. Quite why the overarching listing hasn't been updated to reflect 11% I don't know as that would remove almost all question. I say 'almost', as no doubt there will be some asking whether the 11% will also be back dated, and if not why not -- 'cos after all the loan rate reflects the risk and assuming the conditions of surrounding the loan's security etc. haven't changed then this presumably should have been 11% all along?  As I understood it, my existing investment will switch from 9% to 11% at the time when the new tranche goes live. I doubt it will be backdated.
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Post by p2plender on Aug 4, 2017 6:37:30 GMT
Has anyone else noticed the lack of new loans in the pipeline? Loads of additional trenches, but no new loans. Yes. Lendy got greedy and complacent hence why it's a struggle for them just to try and fill development tranches. They were warned/advised on here but chose to ignore their investors. I can account for around £750k leaving the platform between myself and a few friends. Pretty sure you can multiply that figure several times over with others on here. Shame really, did enjoy 12% near instant access!
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GeorgeT
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Post by GeorgeT on Aug 4, 2017 10:29:22 GMT
Has anyone else noticed the lack of new loans in the pipeline? Loads of additional trenches, but no new loans. Yes. Lendy got greedy and complacent hence why it's a struggle for them just to try and fill development tranches. They were warned/advised on here but chose to ignore their investors. I can account for around £750k leaving the platform between myself and a few friends. Pretty sure you can multiply that figure several times over with others on here. Shame really, did enjoy 12% near instant access! Having almost completed a massive 2 to 3 months of selling which has seen my overall investment in this platform reduce by two thirds I am now left in the position of being on 12% with instant access once again, albeit on a much smaller scale than was previously the case. But with the clock ticking down on my high class loans this situation cannot last for more than another 3 months and therefore unless there is a reversal of strategy by LY and a re introduction of a steady stream of new 12%,365 day loans I would expect to have fully exited the platform by the end of the year. All good things come to an end.
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twoheads
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Post by twoheads on Aug 4, 2017 10:48:56 GMT
Has anyone else noticed the lack of new loans in the pipeline? Loads of additional trenches, but no new loans. Yep - me, here And me, here.
Although I'd signed up for Lendy (SS) this time last year, I hadn't started investing and wasn't paying too much attention to the stream of loans at Lendy or elsewhere.
I get the impression from reading posts from more seasoned investors that the summer period is normally pretty slow all over the P2P market.
The last 'new' Lendy loan was 'PBL - Mansfield Street, Nottingham' on June 26th and that was withdrawn without going live. Prior to that, the latest was 'PBL190 - Stoke on Trent' which appeared June 7th and went live the next day - almost two months ago.
Prior to this lull, I don't know if even a whole month has elapsed, let alone two, with nothing new (tranches excluded) in the pipeline. Anyone?
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SteveT
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Post by SteveT on Aug 4, 2017 10:55:19 GMT
Situation normal in July / Aug. If past years are to go by, there may be few, if any, entirely new loans until late Sept
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twoheads
Member of DD Central
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Post by twoheads on Aug 4, 2017 11:14:52 GMT
I'm prepared take Lendy at their word on this one -- or rather words: " Please note that the rate for this loan has increased to 11% for new and existing investors alike. " So it's the loan not the tranche and is 11% for everyone alike. Quite why the overarching listing hasn't been updated to reflect 11% I don't know as that would remove almost all question. I say 'almost', as no doubt there will be some asking whether the 11% will also be back dated, and if not why not -- 'cos after all the loan rate reflects the risk and assuming the conditions of surrounding the loan's security etc. haven't changed then this presumably should have been 11% all along? As I understood it, my existing investment will switch from 9% to 11% at the time when the new tranche goes live. I doubt it will be backdated. And so it is. DFL023 has been revised to 11% as Lendy stated.
Why did I ever doubt it? Oh I remember... because, as @new2p2p stated, they could have updated the %PA on the main loan at the same time as the tranche but failed to do so.
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ilmoro
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'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 Aug 4, 2017 11:34:50 GMT
As I understood it, my existing investment will switch from 9% to 11% at the time when the new tranche goes live. I doubt it will be backdated. And so it is. DFL023 has been revised to 11% as Lendy stated.
Why did I ever doubt it? Oh I remember... because, as @new2p2p stated, they could have updated the %PA on the main loan at the same time as the tranche but failed to do so.
But would have cost them c£42 for a days interest and they have champagne bills to pay. (I assume the increase hasnt been backdated to 1/8)
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