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Post by rooster on Aug 9, 2020 7:48:13 GMT
I think you can bet your bottom dollar they are. The daft thing is that while the contracts / loan terms may be ethically and morally usurious, they may not be legally. Maybe, but agents arent allowed to make an excessive profit from agency and default interest cant constitute a penalty. Courts will decide ...in about three (or maybe even two) seconds I'd imagine
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Post by mrpc on Aug 9, 2020 8:25:20 GMT
Maybe, but agents arent allowed to make an excessive profit from agency and default interest cant constitute a penalty. Courts will decide ...in about three (or maybe even two) seconds I'd imagine I took the claim of an extortionate credit bargain to the courts. It certainly didn't take them long to rule in Lendy's favour...
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iRobot
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Post by iRobot on Aug 9, 2020 9:40:39 GMT
...in about three (or maybe even two) seconds I'd imagine I took the claim of an extortionate credit bargain to the courts. It certainly didn't take them long to rule in Lendy's favour... That was my fear - a not uncommon example of that which is just and that which is lawful being poles apart.
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Post by angel19 on Aug 9, 2020 11:50:08 GMT
So let us not forget, the only people who have actually handed over any money so far are the Lenders.
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Post by mrpc on Aug 9, 2020 12:12:57 GMT
So let us not forget, the only people who have actually handed over any money so far are the Lenders. Actually, my personal investment is greater than all investors combined and if I am not able to reach a deal with the administrators I will without doubt lose every penny. Lendy, RSM and J***an Cl**ke of Savills are the issue here not myself.
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Post by tinkerbell59 on Aug 9, 2020 12:44:41 GMT
So let us not forget, the only people who have actually handed over any money so far are the Lenders. Actually, my personal investment is greater than all investors combined and if I am not able to reach a deal with the administrators I will without doubt lose every penny. Lendy, RSM and J***an Cl**ke of Savills are the issue here not myself. can I ask why you went with lendy?
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Post by mrpc on Aug 9, 2020 13:18:22 GMT
Yes of course. High Street lenders simply didn't have the appetite for this type of loan especially in the hospitality industry therefore we had no choice but to approach second tier lenders. I was introduced to Lendy by my broker. In many respects their terms weren't as unfavourable as other options and neither of us had any reason to to suspect they were anything other than a reputable lender.
How wrong we all were.
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Mousey
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Post by Mousey on Aug 9, 2020 13:48:49 GMT
I took the claim of an extortionate credit bargain to the courts. It certainly didn't take them long to rule in Lendy's favour... High Court or County Court?
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Post by mrpc on Aug 9, 2020 14:13:48 GMT
County Court
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Post by billy169 on Aug 9, 2020 14:33:34 GMT
If you reach a deal and get most or all of your money back..then surely we all should,, aren't we all equal?..
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Post by mrpc on Aug 9, 2020 14:58:12 GMT
If you reach a deal and get most or all of your money back..then surely we all should,, aren't we all equal?.. I'm not attempting to get my money back, I'm fighting eviction from my home, my business and my young son's future. I have done everything by the book and to the letter. The second an incompetent valuer made a complete hash of the valuation report I required to redeem the Lendy loan on time and in full, Lendy then had their chance to ruin all our lives. By coming on this forum I willingly entered the lions den and I did so to give you some clarity where Lendy would not. You're correct, Lendy and others have, and continue to screw us all equally.
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Post by queenvictoria on Aug 10, 2020 7:05:23 GMT
If you reach a deal and get most or all of your money back..then surely we all should,, aren't we all equal?.. I'm not attempting to get my money back, I'm fighting eviction from my home, my business and my young son's future. I have done everything by the book and to the letter. The second an incompetent valuer made a complete hash of the valuation report I required to redeem the Lendy loan on time and in full, Lendy then had their chance to ruin all our lives. By coming on this forum I willingly entered the lions den and I did so to give you some clarity where Lendy would not. You're correct, Lendy and others have, and continue to screw us all equally. Thank you for telling us. I am sorry to hear what is happening to you. I've looked at your website and it looks like you have built a fabulous business; it's so cruel that the greed of those involved in Lendy should threaten to take it all from you. I certainly had no idea that borrowers were affected in this way. Probably naively, I saw them, or at least many of them, as crooks of the same order and Brooke and Co. I do hope that man lands in jail.
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Post by mrpc on Aug 10, 2020 12:41:35 GMT
Thank you queenvictoria, I appreciate your comments. I also understand the frustration of other members.
Over a decade ago, I was in a position not dissimilar to yours now and I remember it clearly as an horrific experience.
We don't have to be on opposing sides of the battle line and I am happy to help in whatever way I can.
Perhaps the main difference between ourselves is that I felt genuine relief at the collapse of Lendy into administration because I expected at that point it would open up channels for dialogue with RSM.
Sadly the behavior of RSM and Savills have proved them to be unworthy of the task they were appointed to do.
I have everything documented and would love nothing more than to share it publicly however although that may prove necessary, at this point it may just burn down the bridges my representatives are still trying to build.
That would result in P*****s being forcibly sold.
In this climate, the distressed sale of a property within the hospitality sector would not end well for anyone. (RSM, Savills and still quite possibly Brooke aside).
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bloodycat
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Post by bloodycat on Aug 10, 2020 13:29:08 GMT
I certainly had no idea that borrowers were affected in this way. Probably naively, I saw them, or at least many of them, as crooks of the same order and Brooke and Co. I do hope that man lands in jail.
The more cynical amongst us might suggest they were screwing the 'good' borrowers for as much as they could to keep propping up the dodgy loans to their questionable mates.
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iRobot
Member of DD Central
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Post by iRobot on Aug 10, 2020 13:31:54 GMT
I certainly had no idea that borrowers were affected in this way. Probably naively, I saw them, or at least many of them, as crooks of the same order and Brooke and Co. I do hope that man lands in jail.
The more cynical amongst us might suggest they were screwing the 'good' borrowers for as much as they could to keep propping up the dodgy loans to their questionable mates.
Doubt Brookes has any real mates. Just collaborators and, hopefully, co-defendants.
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