GeorgeT
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Post by GeorgeT on Sept 29, 2017 12:59:35 GMT
Also, this loan and PBL155 as well - 2 of the latest loans to run into difficulty - were both 11% loans and not 12%ers, and LY tried to lead us to believe that meant a lower risk profile.
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twoheads
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Post by twoheads on Sept 29, 2017 13:04:55 GMT
This is by far my biggest investment with Lendy. When it first went live, I was on holiday and, being in fine mood, I bought in to the tune of £10k. I quickly sobered up (it took 12 days) and sold out again £36.16 richer. Always a smelly one, this loan had an 'interesting' back story to say the least, so I decided to reinvest an experimental £10 just to see how things progressed. I've sold everything else but I still hold that £10 of DFL017 (I hope it's Caribbean vacation was not spoiled by the recent bad weather). It now makes up 56% of my Lendy pot. Bugger diversity! I wonder if my tenner will make it home? Perhaps it was booked on Ryan Air... P.S. As my only 11% loan, I was glad to have briefly held it because it showed up clearly when the April Fool's interest joke appeared, paying out 12% on everything. I'd never have spotted Lendy's mistake without it. Happy memories... seems like an age ago now. |
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IFISAcava
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Post by IFISAcava on Sept 29, 2017 15:16:41 GMT
Today's update: And yet it is still possible to trade on the SM. Given the other approach taken to loan 'in difficulty', should this one not also be suspended? There is 208 days of interest remaining, so some return exists. I'd expect to see the £288,069 on the SM drop to near-zero so that holders can at least get some interest, as after this update, I can't see there'll be much buying going on.To all other intents and purposes though, have Lendy have defaulted the loan? someone just took a grand out of the queue.
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hazellend
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Post by hazellend on Sept 29, 2017 15:53:54 GMT
But 11% = lower risk?  |
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elliotn
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Post by elliotn on Sept 29, 2017 15:55:33 GMT
This one was smelly from day one. I'm not even slightly surprised that we're here now. And good luck with that 37 percent LTV if this one has to be sold. wasn't this hailed as the most successful (i.e. largest) p2p offering to date at the time? Pbl143, 8M, done over a weekend.
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GeorgeT
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Post by GeorgeT on Sept 29, 2017 20:25:29 GMT
This is by far my biggest investment with Lendy. When it first went live, I was on holiday and, being in fine mood, I bought in to the tune of £10k. I quickly sobered up (it took 12 days) and sold out again £36.16 richer. Always a smelly one, this loan had an 'interesting' back story to say the least, so I decided to reinvest an experimental £10 just to see how things progressed. I've sold everything else but I still hold that £10 of DFL017 (I hope it's Caribbean vacation was not spoiled by the recent bad weather). It now makes up 56% of my Lendy pot. Bugger diversity!I wonder if my tenner will make it home? Perhaps it was booked on Ryan Air... P.S. As my only 11% loan, I was glad to have briefly held it because it showed up clearly when the April Fool's interest joke appeared, paying out 12% on everything. I'd never have spotted Lendy's mistake without it. Happy memories... seems like an age ago now. £10 and 56% of your total LY holding in DFL017!! I'm in awe of your bravery and appetite for risk. Still, I suppose keeping an eye on your LY investments provides the thrill you miss when you aren't able to be doing your other hobbies which I'd guess include things like sky diving without a parachute, parkour, swimming with sharks and lion taming. I have to admit I have a somewhat larger amount stuck in PBL155 and DFL001 and those are giving me quite a buzz....... NOT. 
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GeorgeT
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Post by GeorgeT on Oct 11, 2017 15:37:51 GMT
Trading suspended on the SM from today.
Not in official default though.
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mikes1531
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Post by mikes1531 on Oct 11, 2017 15:53:00 GMT
Trading suspended on the SM from today. Not in official default though. Well, that's one way to make a significant reduction in the amount of parts available on the SM. I think this will bring the total down to less than £1M. At least this one won't be non-performing by Lendy's definition for a while yet, as it's IOA with 196 days remaining. (This isn't one of Lendy's '12-month' loans where only six months' worth of interest has been retained, is it?)
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ferdy
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Post by ferdy on Oct 11, 2017 17:32:50 GMT
Trading suspended on the SM from today. Not in official default though. Did I miss the email ?
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Post by p2plender on Oct 11, 2017 23:32:23 GMT
This was my biggest loan by far. Praise the lord I decided to dump when things started to turn. 2 grands worth of lost interest pales into insignificance now, hope this works out for investors here but I fear a long drawn out affair at best. Lendy now a complete shambles of a platform imo.
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Post by portlandbill on Oct 12, 2017 1:58:15 GMT
So, is it best to keep my holding in the sale queue? Or cancel the sale and hope that it'll at least accrue some interest whilst in limbo?
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cwah
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Post by cwah on Oct 12, 2017 2:06:23 GMT
Do we get interest now?
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elliotn
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Post by elliotn on Oct 12, 2017 5:54:13 GMT
So, is it best to keep my holding in the sale queue? Or cancel the sale and hope that it'll at least accrue some interest whilst in limbo? & cwah, the precedent on Coll & MT is for retained interest to continue to be paid on intra-term non-performing loans although tbc by Ly so any loan parts still up for sale would presumably be excluded. Lendy Support
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Post by holunder66 on Oct 13, 2017 7:06:56 GMT
DFL017 is a quite bad experience for anyone who ever trusted lendy. The platform is not functioning correctly, I wasnt told of a so called suspension of deals after having a contractual agreement with lendy. If lendy has made mistakes in the evaluation of the property, which was at its height evaluation when it was sold, I am wondering how lendy could afford to give the Indian owner who acts in the name of an offshore comapny such a big present???
And now lendy takes the game away, hitting us by stopping any deals on SM market! and what makes it really conspicuous is that they stopped many loans by suspending them. Lendy washes its hands off by saying nothing. I need to take my investment out, I am looking for a lawyer to start the case as lendy will do nothing.
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moist
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Post by moist on Oct 13, 2017 7:15:23 GMT
DFL017 is a quite bad experience for anyone who ever trusted lendy. The platform is not functioning correctly, I wasnt told of a so called suspension of deals after having a contractual agreement with lendy. If lendy has made mistakes in the evaluation of the property, which was at its height evaluation when it was sold, I am wondering how lendy could afford to give the Indian owner who acts in the name of an offshore comapny such a big present??? And now lendy takes the game away, hitting us by stopping any deals on SM market! and what makes it really conspicuous is that they stopped many loans by suspending them. Lendy washes its hands off by saying nothing. I need to take my investment out, I am looking for a lawyer to start the case as lendy will do nothing. let us know if you find one...guessing he will have lots of potential customers.....
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