|
|
Post by loftankerman on May 23, 2018 19:54:16 GMT
No doubt about it Yorkshire has some truly beautiful places. I spent 12 years doing a 70 mile daily round trip commute over moorland, and through charming villages and towns. An absolute delight most of the time but a bit hairy in winter. It was like being on a touring holiday, minus the "are we nearly there yet" stuff. I'd like to point out however that the loan is to fund a field of sheds, and the security is not Yorkshire itself whatever the nostalgic impressions the video may leave one with. it's an upmarket lodge holiday park. Why call it a field full of sheds? I love holidaying in places like this rather than hotels. Not yet it isn't!
|
|
dovap
Member of DD Central
Posts: 467 
Likes: 410
|
Post by dovap on May 23, 2018 19:59:16 GMT
some lovely scenes in the vid tbf
just a shame about the bleak field of sheds spoiling it
|
|
hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
|
Post by hazellend on May 23, 2018 20:20:44 GMT
it's an upmarket lodge holiday park. Why call it a field full of sheds? I love holidaying in places like this rather than hotels. Not yet it isn't! lol true.
|
|
Jeepers
Member of DD Central
Posts: 818
Likes: 721
|
Post by Jeepers on May 23, 2018 20:25:07 GMT
No doubt about it Yorkshire has some truly beautiful places. I spent 12 years doing a 70 mile daily round trip commute over moorland, and through charming villages and towns. An absolute delight most of the time but a bit hairy in winter. It was like being on a touring holiday, minus the "are we nearly there yet" stuff. I'd like to point out however that the loan is to fund a field of sheds, and the security is not Yorkshire itself whatever the nostalgic impressions the video may leave one with. it's an upmarket lodge holiday park. Why call it a field full of sheds? I love holidaying in places like this rather than hotels. Hazel's doing the rounds again  All joking aside, we stayed at Bainland in Lincoln which is very similar and yes, it is nicer than staying in a hotel, in the summer at least. Pickering is also very much a tourist hotspot yet the only competition within the area is the caravan site on flamingo land. What's the business model here, are they selling the lodges to individuals or renting them out ?
|
|
|
|
Post by df on May 23, 2018 20:48:16 GMT
Lendy have put up a video of DFL019 against the latest tranche on the available loans page.
The borrower sounds very confident about the build being completed by March 2019 and is excited about the quality of the works and the attractions of the local area.
Worth logging in and having a look.
I assume he was also confident about the the project being completed by March 2018 when it turned into DFL. It was a 12 months loan. I've seen this video a while ago, sounds very encouraging, but I'm not too hopeful for the happy ending. We're pretty much trapped in this loan, there is no chance getting out of it with 455k on SM and 2% CB offer on every new tranche.
|
|
|
|
Post by p2plender on May 24, 2018 7:19:18 GMT
Pickering is a lovely place, very nr the old railway line of course. Stayed in a lovely bnb when last visited. Handy for Whitby and halloween night.. Good night in Whitby.
|
|
|
|
Post by loftankerman on May 24, 2018 10:20:34 GMT
Lendy have put up a video of DFL019 against the latest tranche on the available loans page.
The borrower sounds very confident about the build being completed by March 2019 and is excited about the quality of the works and the attractions of the local area.
Worth logging in and having a look.
I assume he was also confident about the the project being completed by March 2018 when it turned into DFL. It was a 12 months loan. I've seen this video a while ago, sounds very encouraging, but I'm not too hopeful for the happy ending. We're pretty much trapped in this loan, there is no chance getting out of it with 455k on SM and 2% CB offer on every new tranche. Quite. It doesn't take much effort to recall the months of confident assurances as to the anticipated timely, then delayed repayment of DFL005, that turned out instead to be a few bob plus an extension despite completion. Given the linkage between the two and the history of tall stories, I think it is a toss up between these two eventually crossing the line together, or DLF005 being milked to support the sheds and them both flailing. Unfortunately given that the word on the street seems to be that you can tell Lendy to whistle for their money, even a jointly successful commercial outcome may not bring the lenders their entitlement.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Jun 4, 2018 17:05:51 GMT
People must be spooked by the long sales queue on the original loan. There's £800k of later tranches that are hardly ever on the SM and when they are, they sell straight away. Yet all tranches rank equally. Lendy are still advertising cashback for the later tranches... (they already paid it to the original investors earlier today, but nothing on the loan page specifically says that later investors won't get it too; if they're not eligible, the later investors are supposed to be able to figure that out somehow!).
|
|
Balder
Member of DD Central
Posts: 646
Likes: 622
|
Post by Balder on Jun 4, 2018 17:10:51 GMT
it is this shoddy lack of attention to detail that worries me about Lendy. The new COO should be all over this sort of thing, but he obviously isn't!
|
|
withnell
Member of DD Central
Posts: 550
Likes: 491
|
Post by withnell on Jun 7, 2018 18:48:23 GMT
I've just noticed that the new tranche is at 13% - as it's still DFL019 and not another reference number I'm unclear as to how the secondary market will work - or will it be luck of the draw which rate you get?
|
|
Jeepers
Member of DD Central
Posts: 818
Likes: 721
|
Post by Jeepers on Jun 7, 2018 20:29:52 GMT
Same thing happened on DFL 10 & DFL 14.
The older tranches increased as well.
|
|
|
|
Post by df on Jun 7, 2018 21:44:13 GMT
Same thing happened on DFL 10 & DFL 14. The older tranches increased as well. Yes, they did in the past, but this one reads like the increase is only for this tranche. I wonder if the next one will be offered at 14% (common practice on FS and Col had a go too).
|
|
|
|
Post by df on Jun 7, 2018 21:52:11 GMT
I've just noticed that the new tranche is at 13% - as it's still DFL019 and not another reference number I'm unclear as to how the secondary market will work - or will it be luck of the draw which rate you get? It will probably be displayed and tradable as a separate loan?
|
|
Jeepers
Member of DD Central
Posts: 818
Likes: 721
|
Post by Jeepers on Jun 7, 2018 21:59:02 GMT
Same thing happened on DFL 10 & DFL 14. The older tranches increased as well. Yes, they did in the past, but this one reads like the increase is only for this tranche. I wonder if the next one will be offered at 14% (common practice on FS and Col had a go too). Lendy Are already hanging by a thread in most lenders option at the moment. Just because Col had a go, it's not a good example to follow. FS only do it when the tranche ranks behind the original loan to compensate for the added risk.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Jun 8, 2018 8:33:38 GMT
Same thing happened on DFL 10 & DFL 14. The older tranches increased as well. Yes, they did in the past, but this one reads like the increase is only for this tranche. I wonder if the next one will be offered at 14% (common practice on FS and Col had a go too). That's already been done for the most recent tranches of DFL010 (tranches 7 to 9?). The main loan is at 12%, but additional tranches were offered at 13%. Now that those higher rate tranches have merged with the main loan, the interest rate associated with an individual loans part is not necessarily the same as the interest rate on the main loan. Lendy's SM seems to work by generating fresh loan parts for the buyer, rather than transferring ownership rights of the existing loan part, so I assume that if I were to sell my DFL010 loan parts which have a 13% rate, the buyer would get just 12% letting Lendy have an annual 1% margin back in their own pocket on the amount I'd sold. (I don't plan to, so that's hypothetical). In effect it's a 1% bonus rate for PM investors compared to SM investors, but without the incentive that cashback gives to dump the loan parts as soon as cashback has been paid and re-invest in the next cashback-enabled loan; to benefit from the 13% rate I'll need to hold the loan parts, whereas a cashback-based bonus provides immediate gratification.
|
|
