chunkie
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Post by chunkie on Dec 24, 2017 13:07:42 GMT
I just realized the eventual operator (owner?) of this leisure facility is the same as for DFL005. A Dec 5th article is available for viewing on line at The Herald (Paignton).
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elliotn
Member of DD Central
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Post by elliotn on Dec 24, 2017 17:07:50 GMT
I just realized the eventual operator (owner?) of this leisure facility is the same as for DFL005. A Dec 5th article is available for viewing on line at The Herald (Paignton). Ly told us at the launch of DFL5 they were first funding an extension of PBL35, the precursor to DFL19.
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Post by loftankerman on Jan 4, 2018 10:21:08 GMT
In browsing the List of Available Loans I have noted that the idyllic artist's impressions of this site have been replaced. This may be connected to the caustic comparisons made between the promotional concept and reality. The headline graphic is now a photo of what some may still regard as a shed, standing is what is presumably a lake free field.
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webwizard
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Post by webwizard on Jan 4, 2018 12:24:41 GMT
The updates sure don't suggest things are running to plan and with the Borrower potentially looking for another £12M (and Lendy looking for its' fees) from lenders, I'd be looking for some significant confirmation and comfort that this can be brought in on budget. The updates suggest some time slippage, but that's not the end of the world, so long as it is understood, communicated and confirmed that those delays haven't adversely affected the budget to any significant degree. This is something @lendysupprt should know via communication from the Borrower and confirmation from the IMS. I'm at a loss as to why these basic details aren't published so as to help raise confidence in funding these remaining tranches. There is £100k of tranche 18 and £244k of the main loan on the SM. I suspect many investors already have a portion of this and do not want to increase their exposure. I totally agree with the comments above, there should be more information to inform investment and a more accurate picture of progress. Only 91 days to go....
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Post by valueinvestor123 on Jan 4, 2018 15:55:08 GMT
How safe is this loan compared to others? I seem to have ended up with 10 times the amount I normally put in into a loan as my setup on Lendy is all automated...
Why are they restructuring it and having so many different tranches? It seems I may not be the only one caught out as it is difficult to sell down this loan. Is there enough safety margin to see this loan through?
I wish there was a system which would prevent overinvestment in different tranches of the same loan - this is really dangerous.
thanks vi123
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 4, 2018 16:08:16 GMT
How safe is this loan compared to others? I seem to have ended up with 10 times the amount I normally put in into a loan as my setup on Lendy is all automated... Why are they restructuring it and having so many different tranches? It seems I may not be the only one caught out as it is difficult to sell down this loan. Is there enough safety margin to see this loan through? I wish there was a system which would prevent overinvestment in different tranches of the same loan - this is really dangerous. thanks vi123 Are you being "controlled" do you think?
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elliotn
Member of DD Central
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Post by elliotn on Jan 4, 2018 16:13:24 GMT
Have a look at the dfl19 thread for discussion and prefund loans individually ie switch off all 12% loans.
Re individual SM tranches, these were first introduced to ring-fence cash back development tranches and has been extended to unfunded tranches presumably to avoid Q jumping the main loan and facilitate drawdown by the developer. I don't remember a separate announcement for this latest treatment so it might be worth contacting Lendy support to confirm.
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Post by charliebrown on Jan 5, 2018 8:45:47 GMT
How safe is this loan compared to others? It’s as safe as all the others... all Lendy loans are safe, thanks to their world-class DD process 
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MONEY
Posts: 63
Likes: 831
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Post by MONEY on Jan 8, 2018 13:43:31 GMT
Revisions made to T18's Loan Value. Original (28th December 2017):-  8th January 2018 10:40:-  8th January 2018 12:20:-  |
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webwizard
Member of DD Central
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Post by webwizard on Jan 9, 2018 6:29:18 GMT
Revisions made to T18's Loan Value. Original (28th December 2017):- 8th January 2018 10:40:- 8th January 2018 12:20:- Several of the recent tranche offerings have done this. Left open for a few days and then closed off as if fully funded but with the loan value adjusted. The main loan has £241k on the SM which moves VERY slowly. How Lendy thought there would be appetite for another £316k at the same time at the same rate. I guess there will now be another tranche in a week to try again, but this is a sign of diminished interest and that lenders already have funds tied up in this loan and perhaps do not want more.
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ingwer
Member of DD Central
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Post by ingwer on Jan 9, 2018 8:43:46 GMT
With 86 days remaining and with more than £250k on the SM meaning no realistic chance of selling maybe this explains why the large new tranches have struggled.
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Post by skint4achange on Jan 9, 2018 9:07:28 GMT
With 86 days remaining and with more than £250k on the SM meaning no realistic chance of selling maybe this explains why the large new tranches have struggled. That and the fact that the development looks like the B&Q shed section at my local store!
I know these developments have a habit of suddenly coming good at the end, but this one just does not look like an £11m to date development (To date that is)
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Jeepers
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Post by Jeepers on Feb 2, 2018 23:53:21 GMT
This could be about to become one of the most desirable loans on the platform as it Will soon be at 300+ days.
BUT it all depends on successful repayment on the first loan (Arboretum).
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Post by charliebrown on Feb 4, 2018 1:55:51 GMT
It shows just how little we know from the comfort of our armchair. When the picture was the artist’s impression I was really comfortable with my investment in this, which is significant. As soon as the real picture of the B&Q sheds was posted I nearly spat my tea across the living room. I panicked and assumed this loan was a scam. I immediately listed all my holdings. I had it up for almost 2 months but it barely moved and since I was losing interest I decided to cancel the sale. Looks like I’m stuck in this loan and many others, I can’t believe how fast the Lendy tide has changed, there’s no liquidity available anymore.
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webwizard
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Post by webwizard on Feb 28, 2018 11:46:57 GMT
Go slow !
Tranche 19 set out to fund £328,432 but achieved £88,883. This was required to defer the completion date until December 2018 and cover the extra cost of this extension. There is currently £327,965 available on the SM with only £200-£500 invested via the SM each day.
Looks like this project could run out of momentum as a lot of investors probably see their current involvement as tied up for the duration and not willing to put more in. Lets hope the update this week gives details on how this plan will reach the finishing line and ensure completion. Bearing in mind this is only Phase 1 and the Phase 2 has a GDV of £46M.
My concern last time the PBL matured was that the investments were automatically rolled into the DFL without return of capital. I would not be happy for that to happen again into Phase 2.
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