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Post by Paul64 on May 2, 2017 17:00:33 GMT
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Post by Deleted on May 2, 2017 17:21:12 GMT
Can anyone else actually use that support site?
It won't let me register, saying I'm already registered with that email, I try 'forgot my password', it sends me a link that asks for a new one, and then does... nothing...
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SteveT
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Post by SteveT on May 2, 2017 17:48:27 GMT
Can anyone else actually use that support site? It won't let me register, saying I'm already registered with that email, I try 'forgot my password', it sends me a link that asks for a new one, and then does... nothing... You don't need to log in. Just use support.lendy.co.uk/hc/en-us or click Support from the Lendy homepage
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elliotn
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Post by elliotn on May 3, 2017 2:19:43 GMT
Very nifty, thanks for the email too
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twoheads
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Post by twoheads on May 3, 2017 14:42:50 GMT
I'm quite surprised they've pitched this one at 12% - although we haven't seen the VR yet.
The overview states that there will be two other loans for the same borrower - A small one's just appeared at 10%.
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twoheads
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Post by twoheads on May 3, 2017 14:57:28 GMT
And another @12% Happy days So this Suffolk loan is the third to the same borrower.
It does seem strange to have split the Suffolk properties into two loans and with different %PA. I expect all will become as clear as mud when the VRs come online.
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am
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Post by am on May 3, 2017 14:59:37 GMT
The borrower is currently in receivership. (The loan is to repay the current lender.) That may be why the rates are higher.
The VRs appear to not have been uploaded yet.
On the positive side the quality of LtPP's loan information seems to have improved.
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twoheads
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Post by twoheads on May 3, 2017 15:06:48 GMT
And in a departure from the norm, there will only be half of the interest on account (the first six months only).
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 3, 2017 15:11:58 GMT
The borrower is currently in receivership. (The loan is to repay the current lender.) That may be why the rates are higher. The VRs appear to not have been uploaded yet. On the positive side the quality of LtPP's loan information seems to have improved.Well that's not difficult .................................................... And, "The borrower is currently in receivership." Que?!!!
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GeorgeT
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Post by GeorgeT on May 3, 2017 15:17:11 GMT
And another @12% Happy days But you haven't seen the valuation report yet and we know the borrower is in receivership. And as you only buy into loans you are confident to hold to term after your exhaustive DD checks have been passed, I'm a bit surprised with your happiness at this new loan, although glad you are happy, obviously.
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GeorgeT
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Post by GeorgeT on May 3, 2017 15:24:41 GMT
Given the small size of the 2 x 12%ers and excellent liquidity this will ensure for a few months - regardless of whether they are excrement loans - I will be investing modest sums in both without doing any DD whatsoever Probably won't risk holding beyond 3 months though.
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am
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Post by am on May 3, 2017 15:28:36 GMT
The borrower is currently in receivership. (The loan is to repay the current lender.) That may be why the rates are higher. The VRs appear to not have been uploaded yet. On the positive side the quality of LtPP's loan information seems to have improved.Well that's not difficult .................................................... And, "The borrower is currently in receivership." Que?!!! A previous refinance fell through and the current lender called in their loan rather than extending it. If and when we find out the borrower's name from the VRs we can head off to Companies House and see if we can work out what is going on. With a alleged £11m of property equity backing it the personal guarantee, depending on its value, might be worth something.
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SteveT
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Post by SteveT on May 3, 2017 15:29:33 GMT
And in a departure from the norm, there will only be half of the interest on account (the first six months only). Which rather begs the question whether it could go from "Interest on Account" to "Serviced by Lendy" to "Interest Accruing" before ever reaching the end of its indicated 365 days term.
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elliotn
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Post by elliotn on May 3, 2017 15:30:40 GMT
Given the small size of the 2 x 12%ers and excellent liquidity this will ensure for a few months - regardless of whether they are excrement loans - I will be investing modest sums in both without doing any DD whatsoever Probably won't risk holding beyond 3 months though. 275 days is an aggressive drop. Still, without DD prob for the best 😎👊🏿
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GeorgeT
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Post by GeorgeT on May 3, 2017 15:32:14 GMT
Given the small size of the 2 x 12%ers and excellent liquidity this will ensure for a few months - regardless of whether they are excrement loans - I will be investing modest sums in both without doing any DD whatsoever Probably won't risk holding beyond 3 months though. 275 days is an aggressive drop. Still, without DD prob for the best 😎👊🏿 The receivership thing worries me. I'm becoming ever more cautious on this platform.
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