twoheads
Member of DD Central
Programming
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Post by twoheads on Aug 4, 2017 11:37:24 GMT
They've just increased DFL015 and its latest tranche from 8% to 10% PA.
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Post by p2plender on Aug 4, 2017 11:40:10 GMT
The cash back nonsense pretty much sums the situation up for me.
Lowering of rates coupled with constant flooding of pipe line was the death knell for me.
Anyway nearly but not quite out. Just shifted a good few Herc...
5 long dated loans left to go.
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Post by GSV3MIaC on Aug 8, 2017 13:04:27 GMT
DFL024 tranche 5 seems to be on the pipeline .. at 12%. Last tranche was, iirc, 9% with CB.
This is making my head spin!
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am
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Post by am on Aug 8, 2017 14:16:41 GMT
DFL024 tranche 5 seems to be on the pipeline .. at 12%. Last tranche was, iirc, 9% with CB. This is making my head spin! Surely you mean ' pivot' -- after the Lendy CB pilot ' fast fail'? It does say in the attached summary that " The interest rate on this loan has been increased to 12%." - so with 155 days left and at 12% we may also see some of the £275k on the SM reduce. Am I missing something - if tranche 5 is paying 12% why would anyone take an interest in stuff on the SM at a lower rate?
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SteveT
Member of DD Central
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Post by SteveT on Aug 8, 2017 14:40:19 GMT
Surely you mean ' pivot' -- after the Lendy CB pilot ' fast fail'? It does say in the attached summary that " The interest rate on this loan has been increased to 12%." - so with 155 days left and at 12% we may also see some of the £275k on the SM reduce. Am I missing something - if tranche 5 is paying 12% why would anyone take an interest in stuff on the SM at a lower rate? The whole loan will now get 12% (with the last couple of rate upgrades, it took a day or two for the main loan rate to be updated)
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Balder
Member of DD Central
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Post by Balder on Aug 8, 2017 14:45:17 GMT
Am I missing something - if tranche 5 is paying 12% why would anyone take an interest in stuff on the SM at a lower rate? I'm making a presumption (based on what happened with DFL015 and DFL023) that the current for the overarching loan will be uplifted to the higher rate in due course. I wonder if the borrower is paying more or if Lendy charged the borrower the higher rate all along and only passed on 9%. I hope the former or all their talk about needing lower rates to be competitive in the market were well...........!
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adrianc
Member of DD Central
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Post by adrianc on Aug 8, 2017 14:47:25 GMT
Surely you mean ' pivot' -- after the Lendy CB pilot ' fast fail'? It does say in the attached summary that " The interest rate on this loan has been increased to 12%." - so with 155 days left and at 12% we may also see some of the £275k on the SM reduce. Am I missing something - if tranche 5 is paying 12% why would anyone take an interest in stuff on the SM at a lower rate? I presume it's going to be like all the other loans that have had a rate hike - it's applied to all tranches.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Aug 8, 2017 14:49:30 GMT
I'm making a presumption (based on what happened with DFL015 and DFL023) that the current for the overarching loan will be uplifted to the higher rate in due course. I wonder if the borrower is paying more or if Lendy charged the borrower the higher rate all along and only passed on 9%. I hope the former or all their talk about needing lower rates to be competitive in the market were well...........! Come on Balder, say it "out of the bulls pen". Mind you that may get you bared for life!!
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GeorgeT
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Post by GeorgeT on Aug 8, 2017 15:04:35 GMT
I think they should go the whole hog and accept that the flirtation with low rates didn't work. Revert every loan to 12%, right across the board, just like it was in the first 3 years. This piecemeal, rate increasing policy is confusing and just serves to illustrate that they can't raise enough funds at lower rates and that their variable loan pricing policy has failed.
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Post by GSV3MIaC on Aug 8, 2017 15:11:09 GMT
It worked fine for the fixed size, single bite, PBLs .. it's the much larger (and multi-tranche) DFLs which are sinking the concept. Not that I shall weep for the loss. I expect any new tiddler PBLs will still attempt to float at 8-9-10% .. whatever they think the market will stand. Of course selling those PBLs on the SM has proved to be a problem, so maybe buyers will be more cautious, even there, in future. Same issue over at ABL, where many of the 10% loans can only be sold at a discount (raising the effective rate back up to nearer the 'going rate' of ~12%).
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Balder
Member of DD Central
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Post by Balder on Aug 8, 2017 15:16:39 GMT
Lendy time to pivot!
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ilmoro
Member of DD Central
'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 8, 2017 15:19:25 GMT
I think they should go the whole hog and accept that the flirtation with low rates didn't work. Revert every loan to 12%, right across the board, just like it was in the first 3 years. This piecemeal, rate increasing policy is confusing and just serves to illustrate that they can't raise enough funds at lower rates and that their variable loan pricing policy has failed. Does your recent ephiphany on DD elsewhere apply to Lendy or will you still be eulogising about any loan with a decent term at 12% even if the borrowers have less than exemplary records? 
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GeorgeT
Member of DD Central
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Post by GeorgeT on Aug 8, 2017 20:01:16 GMT
I think they should go the whole hog and accept that the flirtation with low rates didn't work. Revert every loan to 12%, right across the board, just like it was in the first 3 years. This piecemeal, rate increasing policy is confusing and just serves to illustrate that they can't raise enough funds at lower rates and that their variable loan pricing policy has failed. Does your recent ephiphany on DD elsewhere apply to Lendy or will you still be eulogising about any loan with a decent term at 12% even if the borrowers have less than exemplary records? It's going to start applying across all the platforms I use from now on because recent events have changed my perception of the risks we face in the P2P investment sector and I don't feel quite as invincible as I used to.
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ilmoro
Member of DD Central
'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 10, 2017 13:58:29 GMT
Another tranche of DFL019 up, certainly getting their money's worth from that IMS report as it been quoted for the third time or is it fourth.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 10, 2017 14:24:00 GMT
I wonder if the borrower is paying more or if Lendy charged the borrower the higher rate all along and only passed on 9%. I hope the former or all their talk about needing lower rates to be competitive in the market were well...........! Come on Balder, say it "out of the bulls pen". Mind you that may get you bared for life!! Picture that !!  Oh merlin , how I love Carmarthenshire humour! 
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