withnell
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Post by withnell on Mar 23, 2018 11:10:56 GMT
Discounting would help the secondary market and higher rates help the primary market. If you look at ABLrate they seem to be the only high interest P2P able to fill new loans quickly and also have a very liquid secondary market. ABL also don't do tranched loans (ignoring the new 8% offering that appeals to a different market in my eyes) If Lendy offered a non-par market right now, it would be even harder to fill loans - roll back a year when SM was sparse then it works perfectly, new loans enter the market at 100%, and existing sell for a slight premium. Now loads of people will be selling off at 99.x% and new loans would have even less reason to fill
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Post by df on Mar 23, 2018 11:37:36 GMT
Lendy don't want to get the SM moving, they want to fund new loans and pocket the interest of loans on the clogged SM from which they'll be netting around £3000 a day! I always feel the practice of stoping paying interest when it is up for sale in secondary market is unfair and almost sinister. For sales doesn’t mean at all any of the loan aren’t funded! Lender bears the same amount of risk during up-for-sale period. But this unfair practice has been adopted by all(?) p2p platforms. Sometimes I wonder, why am I still investing with these market abusers. Maybe it is time to say enough is enough. Out of platforms I use, the only one who adopted this practice was Collateral - others don't stop paying interest.
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blata
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Post by blata on Mar 23, 2018 12:10:31 GMT
Lendy are I believe trying to put things right, they have grown and grown and I believe now things they have learnt in this phase are now being put in to action. What upsets most people is the lack of information or incorrect information. We all know that property transactions can be held up over minor niggles.
Rather have a given timescale of 4 weeks and maybe things come through quicker than 1 week and we all then get on our high horses.
I have in my time with Lendy/Saving Stream had my highs and lows but my return so far has been around 9.8% taking in to account loses, I have carried out my own DD and in some cases been lucky.
In the heady days I would rush in to everything and this is where I lost, now I am more careful maybe investing in Tranche 3 onward when I see some construction and pictures.
So lets see what today brings from the Lendy spin team, if they could predict the England score tonight will maybe have a little bet.
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Post by Badly Drawn Stickman on Mar 23, 2018 12:43:52 GMT
Out of platforms I use, the only one who adopted this practice was Collateral - others don't stop paying interest. And even COL started paying interest on property loans which extended, as it wasn't possible to opt-out at the point of extension unlike their other (mostly bling) offerings where it was possible to choose not to renew. I have long felt that Lendy could be moved on this, with concerted effort from this platform. I tend not to get involved with the usual 'shouting at shadows' but would happily give the illusion of putting in a shift on this topic, if someone started the ball rolling.
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bloodycat
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Post by bloodycat on Mar 23, 2018 12:53:39 GMT
I already have as much invested in this loan from earlier tranches as I am comfortable with, not wanting to have too high a proportion of my funds tied to an individual project or borrower.
There are some of the other new loans /tranches that I would happily put any received interest or repayments into, but given the amount tied up in loans that are IA and or suspended/defaulted I don't really want to add any additional funds - currently I am only receiving 2/3 of my expected interest each month due to all those well past their IOA state.
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Post by skint4achange on Mar 23, 2018 12:56:52 GMT
And even COL started paying interest on property loans which extended, as it wasn't possible to opt-out at the point of extension unlike their other (mostly bling) offerings where it was possible to choose not to renew. I have long felt that Lendy could be moved on this, with concerted effort from this platform. I tend not to get involved with the usual 'shouting at shadows' but would happily give the illusion of putting in a shift on this topic, if someone started the ball rolling.Your wish is my command
p2pindependentforum.com/thread/12081/loss-interest-on-sm-lendy
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elliotn
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Post by elliotn on Mar 23, 2018 13:57:12 GMT
Discounting would help the secondary market and higher rates help the primary market. If you look at ABLrate they seem to be the only high interest P2P able to fill new loans quickly and also have a very liquid secondary market. ABL also don't do tranched loans (ignoring the new 8% offering that appeals to a different market in my eyes) If Lendy offered a non-par market right now, it would be even harder to fill loans - roll back a year when SM was sparse then it works perfectly, new loans enter the market at 100%, and existing sell for a slight premium. Now loads of people will be selling off at 99.x% and new loans would have even less reason to fill The car loans (acf/vsl), mtf, eco I-III etc have multiple tranches. If you mean property development rather than working capital loans then, yes, I'd love to know how the Oxxxxxn development is going with a T2!
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withnell
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Post by withnell on Mar 23, 2018 14:54:38 GMT
You're right, there are some multi-tranche - but I think having 13% interest helps a few of them along (eg SM at 100.2 means a 100% primary will shift) and for the car loans it's more diversification as you're loaning money but against a different poll of assets, albeit with intrinsic similarities
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Jeepers
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Post by Jeepers on Mar 23, 2018 20:28:28 GMT
Just seen the youtube video (link pops up when you login to Lendy)
Noticed the MD say 'Becomes the lenders project as well' I certainly hope not!
Only positive I took from the video was DFL5 looks good.
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jcb208
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Post by jcb208 on Mar 24, 2018 10:58:50 GMT
Another email this morning asking If I want to invest in DFL19,wondering If this is selective as I still have money on account waiting to withdraw. Anyway Lendy as Stated before you never repaid DFL005 so no more investing with this borrower
"Investors, particularly those in DFL005 (The A***********), may well be interested in a new development opportunity from Lendy, to fund the next tranche of DFL019.
We've produced a video update that includes a Q & A session with the developer of this exciting holiday village development, attracting a generous 1% per month in interest with a further 2% cash-back, set in an area of outstanding natural beauty in North Yorkshire.
"
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rocky1
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Post by rocky1 on Mar 24, 2018 18:28:08 GMT
just watched video cannot see the vision/dream still looks like B and Q sheds in a field in the middle of no where
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hazellend
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Post by hazellend on Mar 24, 2018 18:37:17 GMT
just watched video cannot see the vision/dream still looks like B and Q sheds in a field in the middle of no where Yea they could do with getting a graphic designer to do some kind of artists impression
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Post by charliebrown on Mar 25, 2018 1:55:30 GMT
"Investors, particularly those in DFL005 (The A***********), may well be interested in a new development opportunity from Lendy, to fund the next tranche of DFL019.
is there a threatening undertone here. Is it saying if you’re in DFL005 then you better invest in DFL019 too or they’re probably both going down the toilet and you’ll lose your money. Or am I just irrational at this point with LY.
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Post by GSV3MIaC on Mar 25, 2018 9:03:44 GMT
I think you're reading more in than is there. However Ly are definitely trying very hard (at the 2% CB level in some cases) to drum up further funds for major projects currently 'stuck in mid stream'. One hopes they didn't make any silly commitments to borrowers (as MT assured us they have not), because right now the chances of everything getting 100% funded in finite time looks a bit iffy - throwing one or two to the wolves might refloat the ship?
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jcb208
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Post by jcb208 on Mar 25, 2018 9:58:58 GMT
Can Lendy try and get funding from other sources as I can not see several of these latest tranches being filled in the near future with what has been happening in P2P
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