treeman
Member of DD Central
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Post by treeman on Dec 29, 2017 17:42:53 GMT
A new small DFL has appeared on the pipeline. It's in Lendy's backyard so they might keep an eye on it. (Let's forget about the garden centre and the development site on the island just over the water) "A development site on the northern fringe of W******* C****, H******** which has planning permission for the construction of four new dwellings", "The 100% shareholder/director is an experienced property professional and has a degree in Real Estate Management." Same inadequate redaction method as noted before in the valuation doc  
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Post by skint4achange on Dec 29, 2017 18:52:33 GMT
At least if it goes ahead, I will be able to look at the hole in the ground that my money keeps disappearing into! I live down the road so will be able to watch this one myself (Not that I don't trust Lendy IMS's!  ) |
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Post by supernumerary on Jan 9, 2018 20:54:38 GMT
BRIEFLY, loan DFL003 - Tranche 5 - S**********, Hud******, went live this evening... 
I think somebody at Lendy Towers pushed the wrong button!
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jsmithe
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Post by jsmithe on Jan 9, 2018 23:23:32 GMT
I think somebody at Lendy Towers pushed the wrong button!
Don't say things like that... I now have visions of Homer Simpson at work in Springfield's nuclear power station...  Like this? m.youtube.com/watch?v=dQ6XXQOw4F8
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Post by supernumerary on Jan 11, 2018 13:06:30 GMT
The Advance loan go-live notice (DFL026, DFL010, DFL003) sent to every Lendy investor by email at 16:34, on the 10th January 2018, generated the subsequent 'going live notice' for these loans on the Pipeline page. At the moment at 13:00 today, 11th January 2018, the Pipeline loan page no longer has the 'going live notice' on each these loans. Does that signify a delay perhaps? |
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elliotn
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Post by elliotn on Jan 14, 2018 1:30:12 GMT
Thanks new2, may your other commitments be as fruitful  . |
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webwizard
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Post by webwizard on Jan 14, 2018 10:33:05 GMT
A word of thanks for all the insightful posts made to this thread.
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star dust
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Post by star dust on Feb 16, 2018 9:16:00 GMT
A new small Second Charge PBL in the pipeline, a residential but occupied by the borrower  PBL - South London **SECOND CHARGE LOAN** Security value £825,000 Loan value £100,000 Loan to value 56% Remaining Time 180 days Annual Rate 12% |
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jcb208
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Post by jcb208 on Feb 28, 2018 16:34:27 GMT
PBL - Suf**** House
Appeared in the pipeline an existing borrower more student accommodation with 2% cashback,catch being the loan is 100% of purchase price plus additional funds £5.2m
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Post by spareapennyor2 on Apr 3, 2018 10:36:33 GMT
pipeline going live 4/4/ 18
dfl010 /dfl030
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Doc
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Post by Doc on Apr 3, 2018 17:10:21 GMT
Listing another DFL tranche, partially filling it, relisting it again and again, desperate tactics.
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elliotn
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Post by elliotn on Apr 3, 2018 17:21:40 GMT
Listing another DFL tranche, partially filling it, relisting it again and again, desperate tactics. True. The alternative is to immediately merge it with the main loan and pushing everyone's selling parts behind huge undrawn loans. That is what I think Ly are trying to avoid. Of course the most desperate are the borrowers who are finding they may not be able to fund their developments on time (and ultimately us if in our refusal to fund we see future losses on disposal of incomplete projects).
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Doc
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Post by Doc on Apr 3, 2018 17:37:37 GMT
Listing another DFL tranche, partially filling it, relisting it again and again, desperate tactics. True. The alternative is to immediately merge it with the main loan and pushing everyone's selling parts behind huge undrawn loans. That is what I think Ly are trying to avoid. Of course the most desperate are the borrowers who are finding they may not be able to fund their developments on time (and ultimately us if in our refusal to fund we see future losses on disposal of incomplete projects). Agree, the current system is better than the previous alternative. I think the borrowers must be looking at alternative funding options, as they must see that Lendy is unable to fund all the current DFL's, perhaps some of the hoped for large loan repayments will change the situation, at least temporarily, hopefully we will find out soon.
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Bagman
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Post by Bagman on Apr 3, 2018 18:49:26 GMT
PBL - Hotel, L**********, Cornwall
Security value
£750,000
Loan value
£481,868
Loan to value
64%
Remaining Time
240 days
Annual Rate
12%
Listed on Rightmove for £475k, so over 100% LTV in reality.. where is that kagha gwel ( Cornish for Sh**y stick )
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zedi
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Post by zedi on Apr 4, 2018 13:21:05 GMT
PBL - Hotel, L**********, Cornwall Security value £750,000 Loan value £481,868 Loan to value 64% Remaining Time 240 days Annual Rate 12% Listed on Rightmove for £475k, so over 100% LTV in reality.. where is that kagha gwel ( Cornish for Sh**y stick ) I also find this loan to be a bit fishy but in addition to the £475k there will be £30k from the Borrower and £80k from planned sale proceeds of other parts of the property to "assist with the purchase" (whatever that means). And the borrower wants to do "conversion/refurnishment works" to reach the valuation, for me this sounds more like a DFL than PBL. I will definitely skip this one.
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