hazellend
Member of DD Central
Posts: 2,363 
Likes: 2,180
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Post by hazellend on Feb 16, 2017 19:43:19 GMT
It is impressive this loan filled at all.
It is easily the worst offering I have seen on SS, MT or ABLrate and have seen much better loans take longer to fill on other sites.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Feb 16, 2017 19:59:50 GMT
Begs the question what can you 'buy' into on other Portals at the moment that would beat this latest 8% SS offering by (more than?) a few miles... Poles apart: circa 8% return offered by Bondmason (BM) in it's diversified managed fund backed by a combined 80 years of in-house Investment experience. Could anyone make further suggestions? ABL has an OK looking loan @ 14%, 3x COL loans with realistic looking valuations @ 12% and some loans sitting on FS waiting to fill all over 12%. All have risks attached, but no worse than this 8% loan I'm not against lower rates but won't do it while taking my eye off the risk. The risk that this loan and most of the other SS <11% offerings have all be too high to warrant to the smaller returns.
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Mar 3, 2017 18:10:41 GMT
Loan drawn down at 18:09.
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Mar 4, 2017 9:21:12 GMT
At 08:36 the remaining term was increased from 168 to 183 days (now ticked down to 182 days).
It appears that the loan has been effectively given a six month term from draw-down (yesterday).
Is this a regular occurrence?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
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Post by ilmoro on Mar 4, 2017 9:30:58 GMT
At 08:36 the remaining term was increased from 168 to 183 days (now ticked down to 182 days).
It appears that the loan has been effectively given a six month term from draw-down (yesterday).
Is this a regular occurrence? It happens and should be true for all loans (it isnt). The borrower is paying interest (retained) for 6 months from the date of drawdown so that is what the term remaining reflects. They may have paid the extra 15 days or SS have covered it. The odd ones are the ones where drawdown is delayed but the term doesnt increase as that means retained interest doesnt match the borrowing period and results in confusion towards the end with SS updates contradicting term remaining.
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mikes1531
Member of DD Central
Posts: 6,453
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Post by mikes1531 on Mar 5, 2017 3:06:31 GMT
The odd ones are the ones where drawdown is delayed but the term doesnt increase as that means retained interest doesnt match the borrowing period and results in confusion towards the end with SS updates contradicting term remaining. This situation also could mean that the borrower has agreed to cover the pre-drawdown interest, but hasn't paid the extra up front, so the interest retained from the loan proceeds is only enough to cover the six months from the go-live date.
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Mike
Member of DD Central
Posts: 651
Likes: 446
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Post by Mike on Oct 11, 2017 16:40:05 GMT
Lendy has been notified that a bankruptcy order was made against the Borrower on 5 October 2017. As a result of a change to the risk profile, Lendy has suspended trading of the secondary market on this loan.
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Post by madkings on Feb 13, 2018 13:02:51 GMT
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mikeymike
Member of DD Central
Posts: 76
Likes: 77
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Post by mikeymike on Feb 13, 2018 16:08:36 GMT
So pleased to have missed this one. But wish I seen the posts on the board before i put any money into Ly. I always try to do my own dd but there was a naive assumption that the platform and the investors had a common interest in making a success of things. La La Land Ox. gives lie to this.
But with regard to this loan can anyone explain:
Lendy Updates
03/03/2017
Loan is due to complete either today or Monday.
17/08/2017
The valuation report has been received and refinance is continuing. (Was this ever posted up)
01/09/2017
We expect this loan to go overdue for repayment, as the refinance has been delayed. We are maintaining regular contact with the borrower and pressing for completion of the refinance. We may consider extending the loan term.
11/10/2017
Lendy has been notified that a bankruptcy order was made against the Borrower on 5 October 2017. As a result of a change to the risk profile, Lendy has suspended trading of the secondary market on this loan.
I also notice references to the borrower previously running a large garden centre, and proposals for holiday lodges. They wouldn't have any other loans on this platform would they?
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Post by spareapennyor2 on Feb 15, 2018 13:02:22 GMT
lot 254
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blata
Posts: 77
Likes: 62
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Post by blata on Feb 15, 2018 17:51:04 GMT
Which Auction are these at
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
Likes: 945
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Post by stub8535 on Feb 15, 2018 18:34:14 GMT
After 2 years with ss I have started pulling money out now as fast as I can get it invested on other platforms enough is enough what ss should remember is it takes a long time to get a good reputation but a short time to loose one Come acros to MT and ABL, the water is lovely and warm. Love the sarcasm hazellend.
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Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
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Post by Mousey on Feb 15, 2018 18:56:32 GMT
I think bidding reached £254k. Not sold!
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Mar 21, 2018 11:16:21 GMT
Got an email about this. Was annoyed cos I thought I passed up on this, and on checking the site I have no investment. Didn't participate at all because of the 8%.
Must be some gremlins around if Lendy are inviting people to vote that aren't eligible.
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Post by df on Mar 21, 2018 12:56:07 GMT
Got an email about this. Was annoyed cos I thought I passed up on this, and on checking the site I have no investment. Didn't participate at all because of the 8%. Must be some gremlins around if Lendy are inviting people to vote that aren't eligible. It was their first time. Hopefully, in future they will fine tune this initiative.
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