rxdav
Member of DD Central
Posts: 354 
Likes: 349
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Post by rxdav on Feb 2, 2017 20:10:43 GMT
Yet another loan which goes over term. I had a sinking feeling about this loan and emailed to ascertain the status of the loan given it was days from maturity. It seems that Lendinvest wish to be perceived as being 'warm and cuddly' (my interpretation of the reply from Joel) to its borrowers. However, whilst there was no formal extension to this loan, nor was it redeemed within term (i.e. it's now in default) there would also be no default interest paid to lenders (so no 'warm and cuddly' treatment for lenders then). But don't worry - we will be 'updated' in the coming weeks - so that's OK then ?!?!
Oh well, could be worse, I'm down to 7.5K with Lendinvest now and unless it goes totally 'belly up' I'll be 100% out by the end of April.
Well hello MT !!!
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archie
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Post by archie on Feb 3, 2017 7:42:34 GMT
I had a similarly worded email last month for P******* Road, South Norwood. That one was resolved with repayment after 15 days.
I hope this latest one will be resolved too.
I'll probably be out by October.
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rxdav
Member of DD Central
Posts: 354
Likes: 349
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Post by rxdav on May 8, 2017 7:09:20 GMT
Repaid on Friday 5 May (and withdrawn same day) - that's me totally out of LI. I actually liked the platform but with interest rates at their current low levels the risk/reward ratio simply doesn't invite involvement - even from a diversity perspective. There are now numerous other good platforms available offering interest rates at double many (most?) of LI's recent offerings - and IMHO at nowhere near double the risk. This coupled with the lack of any SM (or any aspiration to launch one it seems) have made LI an increasingly poor choice of platform.
I also note the dearth of comment on LI on this forum - indicative of a general lack of interest in the platform from active lenders I suspect?
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archie
Posts: 1,865
Likes: 1,860
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Post by archie on May 8, 2017 7:25:52 GMT
I'm at about 30% of my peak LI holding, slowly moving away.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 256
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Post by gibmike on Jun 12, 2017 18:32:44 GMT
Two more loans this week with have been drawn past their completion date:
G*****l Road
L*****dr, R*****n
I have received two "woolly" emails today (2 and 3 days prior to completion) explaining that they will go over and "A further update will be provided in due course.". Due course?
Regards,
Mike
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ben
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Post by ben on Jun 14, 2017 7:22:18 GMT
As long as they keep paying the interest, the security is pretty decent so even in worse case I would not expect to much of a capital loss.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 256
Likes: 160
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Post by gibmike on Jun 18, 2017 21:09:53 GMT
Agreed ben but the wording is far from comforting. By the end of this year they will have lost a 6 figure investor over the course of 12 months due to falling returns and shockingly poor communications. Mike |
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ben
Posts: 2,020
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Post by ben on Jun 18, 2017 21:15:22 GMT
True there is that but the valuations are much more realistic then on certain others sites and usually the property is currently making money, so I will stay invested, but like others have decreased amount as there is not as many good investments.
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