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Post by charliebrown on May 21, 2018 13:17:30 GMT
My point was...
1. The LY business model might be good for them in a “smash and grab” kind of way, but they’re not aiming to build a sustainable business on a “smash and grab” model. If the founders were trying to get rich quick and run then, yes, they have an excellent business model.
2. If they profit from our losses then that’s kind of unfair. Yes, I hear you, life isn’t fair, your capital is at risk blah, blah, blah.
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Post by takeshi on May 22, 2018 14:56:33 GMT
Sorry if I can't see the obvious.... what was the result of the auction?
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Post by spareapennyor2 on May 22, 2018 15:22:23 GMT
not until Thursday 31st May 2018guide price 350K
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Post by takeshi on May 30, 2018 16:05:15 GMT
"The property has been withdrawn from auction on 31 May 2018. Legal proceedings to recover the outstanding capital, accrued interest and bonus accrual are progressing although we will continue to explore all settlement options with the borrower. "
*sigh*
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400 
Likes: 416
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Post by brianlom1 on May 30, 2018 16:25:00 GMT
"The property has been withdrawn from auction on 31 May 2018. Legal proceedings to recover the outstanding capital, accrued interest and bonus accrual are progressing although we will continue to explore all settlement options with the borrower. " *sigh* 
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puddleduck
Member of DD Central
Posts: 537
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Post by puddleduck on May 30, 2018 16:34:16 GMT
"The property has been withdrawn from auction on 31 May 2018. Legal proceedings to recover the outstanding capital, accrued interest and bonus accrual are progressing although we will continue to explore all settlement options with the borrower. " *sigh* The auctioneers I deal with generally call up vendors 2 or 3 days before an auction giving an idea of interest - ie number of viewings conducted, number of legals packs downloaded and give options - ie lower reserve, withdraw etc. So I think it's fair to assume the report would have been adverse, with a property unlikely to achieve a price much over the reserve. Of course the worse thing would be for it go to auction with no bids at all. I assume that the report from the auctioneer did not give a realistic prospect of a sale tomorrow hence withdrawal.
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Post by spareapennyor2 on May 30, 2018 16:44:39 GMT
this is linked to DFL017
27/04/2018 update
likely that litigation will be required / the sooner the better
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Post by mrclondon on Sept 8, 2019 18:33:20 GMT
Photos taken 7pm yesterday (7th Sept) The auction sign board is not present on the April 2019 Google streetview.
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Post by mrclondon on Sept 8, 2019 18:38:13 GMT
Listed for auction on Thurs 19th September, link on DDC.
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Post by brightspark on Sept 8, 2019 20:22:15 GMT
Looks very combustible!
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zccax77
Member of DD Central
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Post by zccax77 on Sept 9, 2019 18:21:36 GMT
Needs demolition in my opinion.
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Post by spareapennyor2 on Sept 19, 2019 16:08:07 GMT
sold 380K
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Sept 19, 2019 16:13:03 GMT
Lot 223 Auctioned today by All*** Loan from Lendy £734,709 Auction Guide price 18 Sept 2019 £205,000 to £300,000 Auction Guide price today (19th September 2019) £300,000 Sold at Auction at 5.10pm on 19th Sept 2019 for £380,000 Loss to lenders £354,709 Percentage loss on investment = 48%
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james21
Member of DD Central
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Post by james21 on Sept 19, 2019 16:43:12 GMT
Lot 223 Auctioned today by All*** Loan from Lendy £734,709 Auction Guide price 18 Sept 2019 £205,000 to £300,000 Auction Guide price today (19th September 2019) £300,000 Sold at Auction at 5.10pm on 19th Sept 2019 for £380,000 Loss to lenders £354,709 Percentage loss on investment = 48% Thank you, then there is the sellers premium, typically 3% and VAT on that, receiver costs, etc
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quidco
Member of DD Central
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Post by quidco on Sept 20, 2019 11:16:06 GMT
Do we know if there's any plan to auction the London property or is that being handled differently?
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